"[S]ources have indicated in the last week that Cadwalader has been speaking with multiple firms lately and the pace of talks has picked up. One source familiar with the circumstances described the set of courters as a rolling group of three. Sources say possible merger partner firms are likely ranked in the Am Law 25 to Am Law 50 range - where firms' gross revenues exceed $1 billion - and are generally interested in Cadwalader's corporate practices and its large New York office. Cadwalader, ranked No. 85 in the Am Law 100, generated $638 million in gross revenue last year."
"We have been approached by many top-tier firms for years, and that continues."
"[t]he firm is in a very strong financial position and remains confident in our standalone strategy."
Cadwalader has experienced successive partner departures and major lateral moves that have weakened a core practice and prompted increased external interest. Multiple top-tier firms have approached Cadwalader and recent conversations have accelerated, with a rotating set of roughly three suitors. Potential partners are likely Am Law 25–50 firms with more than $1 billion in revenue, drawn to Cadwalader's corporate capabilities and large New York office. Cadwalader reported $638 million in revenue and is ranked No. 85 in the Am Law 100. Insiders expect additional partner exits while the firm asserts financial strength and confidence in remaining standalone, leaving the future uncertain between independent survival and a merger.
Read at Above the Law
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