Law firm merger talks ‘advanced’
LEADERS of law firms Cobbetts and DWF are now in advanced talks over a merger, with May 1 the goal for the creation of the combined practice.
There will be one notable absentee from the top table of the new firm – Cobbetts managing partner Michael Shaw – who will not be part of the new entity, according to sources close to the deal.
It is understood that DWF’s ambitious managing partner Andrew Leaitherland will retain his position, while Cobbetts’ respected senior partner Stephen Benson will also continue.
News that the parties were in early-stage discussions emerged last November when DWF, seemingly prematurely at that stage, registered the internet domain name DWFCobbetts.
The combined practice will have a turnover of nearly £130m and offices in Leeds, Liverpool, Preston, Birmingham, the North East and London.
In the year to the end of April 2011, DWF’s turnover surged 15% to £83m, boosted by its successful insurance litigation practice, while net profits rose 35% to £12m.
In the same period, Cobbetts’ turnover increased by £700,000 to £44.5m, but net profits fell by £500,000 to £10m.
Neither firm will comment on the merger until it is formally tied-up, but a source told TheBusinessDesk.com: “Things are moving on, there have been a few issues along the way, but nothing insurmountable.
“It remains to be seen though what Mike Shaw will do – there will be interest in him from other firms, but he may decide to take another direction and take on some non-executive directorships.”
