MERGER talks between law firm SJ Berwin and its US competitor Orrick, Herrington & Sutcliffe have collapsed.
The news came after the San Francisco based firm wrote to partners explaining that it would step away from merger discussions.
In a leaked memo seen by City A.M., the firm’s chairman Ralph Baxter said the decision to back out of the merger was based on their discussions to date and the information now available to them.
He said that no one issue led to the decision. It is understood that Orrick walked away from the talks after the firm realised SJ Berwin’s projections did not meet expectations. Last year Orrick’s revenue came in at $847.5m (£560m), while SJ Berwin’s revenue was £184m.