Thursday, May 13, 2010

Who in There Right Mind would Merge With Proskauer Rose? Billions in Liabilities - Does anyone Care?

the Standford Scandal - investors lost Billions and Proskauer Rose was part of it.. the Iviewit Stolen Patent.. Trillion in Liabilities..

And someone hates money enough - is gullable enough to want to "Merger" with Proskauer Rose? Are you Kidding Me...

Talk about taking on Major Liabilities...

"" Proskauer Rose Being Eyed as Merger Partner for SJ Berwin

Jeremy Hodges and Sofia Lind
Legal Week
May 10, 2010

SJ Berwin has shifted its hunt to secure a U.S. merger to Proskauer Rose, with the U.K. firm set for detailed talks with the New York practice over the next month.

Proskauer Rose has been identified as the sole merger candidate for the U.K. firm, although the discussions remain at a relatively early stage.

A union would propel the pair into the global top 30 in revenue terms, creating a £600 million practice, according to the most recent financial data.

Proskauer Rose recorded gross revenues of $634 million (£422 million) for its 2009 financial year, while SJ Berwin posted revenues of £184 million in 2008-09.

SJ Berwin has held exploratory discussions with a handful of U.S. law firms in recent months, including Orrick Herrington & Sutcliffe and Boston's Goodwin Procter.

Earlier this week, it emerged that Orrick had decided against pursuing a merger with SJ Berwin, a stance that was confirmed in an internal e-mail from Chairman Ralph Baxter. He wrote in the e-mail: "Based on our discussions to date and the information now available to us, the team working on this does not recommend pursuing it further. No one issue led us to this decision, and we leave the process with great respect for SJ Berwin."

SJ Berwin has a small committee overseeing the merger discussions. An SJ Berwin partner commented: "We have had a number of firms approaching us and looked around. There are ongoing discussions and no specific date set to make a decision." ""

Source of Proskauer Rose Post
http://www.law.com/jsp/article.jsp?id=1202457895648&pos=ataglance