For only the second time in Sino-Anglo history, two law firms have announced their impending merger in what is being widely viewed as a mutually ambitious move. As reported by Legal Business, “Dentons is set to create the biggest law firm in the world by lawyer headcount through a merger with leading Chinese firm Dacheng, a move that will establish a 6,600-lawyer giant operating under a Swiss verein structure.”
With 50 offices and over 3,000 lawyers, Dacheng is the biggest independent firm in China and the Asia-Pacific region. According to The Lawyer, Dacheng “has made moves to expand outside the PRC in recent years, having launched in Russia (19 August 2013) and Mongolia (1 November 2013) in 2013.”
Dacheng chairman and founder Peng Xuefeng had alluded in recent years to the possibility of an international deal, but remarked that such contemplation would be premature as the Chinese profession had not yet matured to the point of M&A capabilities. The firm has strived to model itself alongside western firms.
For its part, Dentons is nothing if not committed to its goal of polycentric global expansion. Indeed, recent history includes the 2010 merger of American firm Sonnenschein Nath & Rosenthal with Britain’s Denton Wilde Sapte to create SNR Denton in addition to the 2012 merger of SNR Denton with Salans and Canada’s Fraser Milner Casgrain.
Interestingly, the news follows that of Fried, Frank, Harris, Shriver & Jacobson which confirmed this week it has decided to close its Hong Kong and Shanghai offices.
