The outbreak has delayed the planned merger by three months
One of the largest BigLaw mergers in the US announced last year has been delayed because of the COVID-19 pandemic.
Troutman Sanders and Pepper Hamilton have confirmed that their merger will be delayed to 1 July “in light of the rapidly changing coronavirus situation.” The combination was supposed to go live on 1 April.
“While we are well-positioned to execute the combination on April 1, we believe the decision to postpone is in the best interest of our attorneys, staff, and clients. Postponing the merger will allow our attorneys to remain focused on excellent client care and will allow all our people to prioritize the health and safety of their families and themselves at this difficult time. As we continue to navigate the unprecedented challenges posed by COVID-19, we look forward to becoming Troutman Pepper on July 1,” the firms said.
The firms, which will be known as Troutman Pepper Hamilton Sanders or Troutman Pepper when they combine, have jointly developed a COVID-19 resource centre to help clients navigate the crisis.
Troutman Pepper will have about 1,100 lawyers across 23 offices and take in approximately US$850m in revenues per year.
Another major BigLaw merger, the combination of Faegre Baker Daniels and Drinker Biddle & Reath into Faegre Drinker Biddle & Reath, was announced after Troutman and Pepper confirmed that they have entered into discussions to combine.
However, the Faegre Drinker merger pushed through much faster, with the combined firm going live at the start of February. Faegre Drinker had to close its Washington offices at the start of the month, however, because of two visitors to the firm later tested positive for COVID-19.
