Both firms tight-lipped on rumours
International law firm Clyde & Co and insurance heavyweight BLM are reportedly discussing a possible merger — but both outfits have so far declined to comment on the rumours specifically.
The potential deal would create a combined firm boasting around 3,300 legal professionals, including partners, and annual revenues of £735 million.
The Legal Cheek Firms Most List 2022 shows Clydes is the bigger of the firms by some distance, offering around 45 training contracts each year compared to BLM’s 25. Both outfits chalked-up an A for training in our latest Trainee and Junior Lawyer Survey.
The discussions are “underway” but still at an “early stage”, RollOnFriday reports.
A spokesperson for Clydes said:
“We are a firm that has a track record of growth and of continually developing our capabilities for the benefit of our clients. At any time we are in discussion with a number of firms, teams or individual lawyers and it is our practice not to comment on these until they near or reach conclusion.”
Meanwhile, a BLM spokesperson commented: “We are regularly looking at opportunities to further our growth ambitions and often attract parties interested in best utilising our strong market position. At any one time therefore, we may be assessing a number of these opportunities be they acquisition, strategic hire, merger or investment proposition. In a consolidating market now is no different but we will not take any such opportunities forward unless they help us to progress our vision and are in the best interests of our people, the firm and clients.”
