Ed. note: Welcome to our daily feature, Quote of the Day. We do anticipate that 2024 [law firm] merger activity will be consistent with 2023. The interest in growth via merger continues to remain very, very high. I would even say it's at an all-time high, in the 20-plus years I've been working with law firms. - Kristin Stark, a law firm consultant and principal at Fairfax Associates, in comments given to the American Lawyer on the 'appetite' for law firm mergers in 2024. 'Mergers are a very common strategic objective,' she continued, 'and as a result, while it's hard to predict, given the interest level, it's also hard to see an outcome where it's at a lower level [than 2023].'
Fairfax Associates counted 48 total law firm mergers in 2023, including five 'large-firm' mergers (i.e., combinations between firms with 100+ lawyers each).
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