Biglaw

Stroock Is Talking To Another Am Law 100 Firm About Merging — But It’s Not ‘Exclusive’

They’re both keeping their options open… but what if this is Stroock’s only option to make it through the year?

By  
on

Stroock has been leaking lawyers like a sieve ever since it broke up with Nixon Peabody, but it finally got rid of its baggage (i.e., its pension problems), and just like that, the firm has matched up with another eligible bachelor on the merger market.

According to a report from the American Lawyer, Stroock’s latest law firm hookup is Pillsbury Winthrop, and the pair have signed a non-exclusive letter of intent to merge. Pillsbury brought in $751,491,000 gross revenue in 2022, putting it at No. 65 in the most recent Am Law 100 ranking, and if the proposed tie-up is successful, it will bring an international presence to Stroock. Here’s more from Am Law:

“We consider all growth opportunities presented to us, including potential lateral groups and combinations. We are currently evaluating opportunities with Stroock,” the firm said in a statement. “We signed a non-exclusive LOI to help frame the discussion. The process is ongoing.”

A spokesperson for Stroock confirmed the talks with Pillsbury but declined to comment on the LOI. “We continue to explore various opportunities,” the spokesperson said. “We can confirm that we are talking with Pillsbury about potential synergies.”

While both firms are keeping their options open, hopefully those “synergies” work out, because industry insiders and even former Stroock employees are unsure if the firm will be able to survive through the end of the year without merging with another firm.

Best of luck to both firms — and especially to Stroock — as they embark upon this possible merger journey.

Pillsbury Becomes Latest Firm to Begin Merger Dance With Stroock [American Lawyer]

Earlier: Biglaw Firm Continues To Bleed Lawyers, Business Leaders In Search For Merger Partner
Biglaw Firm Dumps Its Problematic Pension To Find Merger Partner
Biglaw Firm Tries To Dump Its Pension Plan To Become More Eligible Merger Partner
Partners, Associates, Staff Flee Biglaw Firm After Merger Efforts Crumble
Biglaw Merger Effort Crumbles

Sponsored

Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.

Sponsored

Topics

, , , , , ,