King & Spalding to Acquire Half of Thacher Proffitt?
Struggling in a difficult economy, Thacher Proffitt & Wood is seeking a merger partner and could see about half of its lawyers acquired by King & Spalding.
The well-known Atlanta-based BigLaw firm has been talking with New York City-based Thacher Proffitt about taking on about 100 of the firm’s 195 attorneys, reports Legal Times, relying on unnamed sources.
A New York legal consultant tells the publication that the talks have been ongoing for at least three months, and the parties hope to reach agreement by the end of the year. It hasn’t yet been decided, however, which Thacher attorneys would be taken on board, he says. “There’s a tremendous amount of uncertainty about who’s going to be invited to the party.”
King & Spalding has about 900 lawyers in offices in the U.S., London, Germany and the Middle East.
Earlier ABAJournal.com coverage:
Thacher Proffitt Loses Vice Chairman and White Plains Lawyers
Corrected at 3:14 p.m. to correctly spell King & Spalding firm name.
