Law Society Gazette - Law Firms Put a Lid on M&A Activity - Really? The recent Law Gazette article Risk-averse law firms put brakes on M&A paints a somewhat skewed picture of the current M&A market. It uses a single survey of 308 lawyers and frames risk aversion as the primary driver for a perceived slowdown in mergers, overlooking rather a lot of other factors that drive the law firm sales market. 308 Lawyers Make a Market? Firstly, the article’s central premise – that law firms are "putting the brakes on M&A" due to "risk aversion" – appears to be built on rather flimsy foundations. The sole piece of evidence presented is a LexisNexis survey of 308 lawyers, stating that only 5% are considering mergers or acquisitions in their growth plans, down from 10% and 13% in previous years. The UK legal sector comprises of over 9,000 law firms, ranging from sole practitioners to global giants. A sample of 308 can hardly be considered representative...
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