National firms Dickinson Dees and Bond Pearce have begun merger talks.
The pair confirmed in a statement that discussions are under way to explore the option, although there will be no further comment until those discussions are completed.
If it does go ahead, the merger would create a firm with a turnover of around £95m and 1,200 staff. Both practices have outlined their desire to break into the top 30 firms in the country.
Jonathan Blair, managing partner of Dickinson Dees, said: ‘Our strategies, cultures, sector capabilities and geographic footprints appear to be sufficiently complementary as to warrant consideration of whether, in a rapidly consolidating market, a merger of our two firms would facilitate the execution of their respective strategies.’
Dickinson Dees currently employs more than 600 people across offices in Leeds, London and Newcastle. The firm is divided into four main departments across commercial law, litigation, real estate and wealth management.
In May, the firm announced full-year profits of £12.1m, an increase of 10%. Bond Pearce, a commercial firm with 600 staff including 74 partners, has offices in Aberdeen, Bristol, London, Plymouth and Southampton.
Profit per equity partner was around £235,000 at both firms during 2011/12.