International firm King & Wood Mallesons has received purchase offers in its long-running quest to find a suitable merger partner.

According to the firm it is now ‘entering into detailed discussions with a small number of parties’ who made 'indicative purchase offers’.

A spokesperson for the firm said: ‘The management team and its financial advisers have reviewed these ... this is a significant step forward for King & Wood Mallesons EUME'.

The spokesperson added that it would make another announcement once discussions have been completed.

KWM has long sought a deal in the US to complete its global footprint.

In 2013, the Hong Kong-based firm partnered with UK firm SJ Berwin.

Earlier this year, the Gazette reported that the global firm would be cutting 15% of partners in its Europe and Middle East practice.

The cuts followed a review of the firm’s European and Middle East practice, as part of its drive to become ‘the global elite firm for the next century’.