International firm Kennedys and Scottish litigation firm Simpson & Marwick have formally called off their merger, two months after admitting that the plan had run in to obstacles.
A joint statement blamed ‘complex reasons’ for abandoning the merger, originally announced in August.
The two firms had intended to create a business with more than 1,500 staff members and a combined turnover of more than £160m. However in October they revealed that the merger would not take place on the projected completion date of 1 November.
According to the latest statement, the firms have abandoned the merger plan entirely in favour of close cooperation.
‘Both firms and their partners hold each other in the highest regard and are very disappointed that for complex reasons the merger could not be finalised,’ the statement said. ‘Clients and their interests are our priority. There are a number of cross-border clients that Kennedys and Simpson & Marwick plan to continue working closely with in order to provide a UK-wide service.’
Recent Anglo-Scottish have included those between Shoosmiths and Archibald Campbell & Harley, DWF and Biggart Baillie, Pinsent Masons and McGrigors and TLT and Anderson Fyfe.