Dentons and McKenna Long & Aldridge’s partnerships will vote within the next two weeks on combining, according to a joint statement the firms provided to The AmLaw Daily late Tuesday.
“The boards of Dentons and McKenna Long & Aldridge have recommended to their partners that the firms combine, subject to the approval of their respective partnerships. The voting procedures will follow the protocols of each firm and will be completed no later than November 14, 2013,” the statement said.
The two firms confirmed Sept. 30 that they were in merger talks and a McKenna partner told the Daily Report that a vote was set for Oct. 28. But the vote was postponed because of scheduling problems. The partnerships of the several entities making up global megafirm Dentons, which is structured as a Swiss verein, and the partnership of McKenna must vote at the same time, a McKenna partner said. The Dentons entities are distinct legally and are not financially integrated.
McKenna’s partnership would have to vote on merging with Denton’s U.S. entity and on joining the verein. The deal would have to be approved by the Dentons verein and Dentons US, which have different management committees.
A combination would create the third-largest firm in the world, with 3,100 lawyers and professionals, based on headcount. Dentons, which has 2,600 lawyers and professionals worldwide, was formed in March from a three-way combination of international firms SNR Denton and Salans with Canada’s Fraser Milner Casgrain. McKenna has about 575 lawyers and professionals.
McKenna grossed $345 million last year, compared to $710.5 million for SNR Denton, the predecessor firm to Dentons. SNR Denton was itself the product of a 2010 combination between London’s Denton Wilde Sapte and Chicago’s Sonnenschein Nath & Rosenthal.
Revenue per lawyer was similar: $680,000 at McKenna and $650,000 at SNR Denton. Although McKenna’s average profit per partner was $930,000 in 2012 and that of SNR Denton, was $785,000, Dentons has only equity partners. McKenna has equity and non-equity partners.
While it is not known whether or not McKenna would keep its name in the event of a combination, The AmLaw Daily also reports that on Sept. 30 the following URLs were purchased, with Dentons’ general counsel, John Koski, listed as the contact: dentonsmckenna.com; mckennadentons.com; dentonsmla.com; mladentons.com; and mladenton.com.
McDentons was still available as of Tuesday night, The AmLaw Daily noted.
See the AmLaw Daily’s story here:
Dentons, McKenna Execs Okay Tie-Up, Partner Votes Set
See previous Daily Report story here on the vote being postponed:
