London firm HowardKennedyFsi has called off merger talks with commercial firm Davenport Lyons. The deal would have created a business with combined turnover of over £60m.
A spokeswoman from HowardKennedyFsi said: ‘Following careful consideration, we have decided to withdraw from the discussions.’
However, she said the firm is still pursuing discussions with CKFT, a ‘smaller full-service practice in Hampstead [London], and they are at the very early stages.’
Earlier this month HowardKennedyFsi revealed it had been approached by Davenport Lyons to discuss the possibility of a merger.
The spokeswoman said: ‘We remain committed to growing HKFsi and will consider any opportunities presented to us.’
In February last year Howard Kennedy merged with Finers Stephens Innocent (FSI).
In 2012/13 HowardKennedyFsi posted turnover of £42.7m, up from £43m the previous year, while profit fell from £9.9m to £9.5m.