Merging firms need to think smart

It's rather depressing how many partners want their management teams to obtain shrinkwrapped deals that will magically propel their firm to a new market position. The national practice wanting a London corporate jewel; the midsize firm hunting for the elusive fit that will keep everyone happy and entail the least amount of disruption. Partners averse to organisational change can find plenty of reasons to vote down a deal, something that has contributed to the slow pace of consolidation in the legal sector.