The leadership of Reed Smith LLP and Thompson & Knight LLP today announced the firms have declined to pursue a potential merger, prior to submitting the matter to either partnership for a vote. The firms were in discussions about and conducted due diligence on a combination during the latter part of 2010.
“We are very impressed with Thompson & Knight’s lawyers, practices and clients. Both firms are coming off record years in terms of profitability, but we cannot get all of the pieces in the right place now,” said Gregory B. Jordan, Reed Smith’s Global Managing Partner.
“Everyone at Thompson & Knight has great respect and admiration for Reed Smith, the quality of their lawyers, the strength of their platform, and their culture,” said Jeffrey A. Zlotky, Thompson & Knight’s Managing Partner. “With two strong firms like ours, a large number of issues have to align to make a merger work. We’re concluding our discussions with the highest regard for the attorneys and management of Reed Smith.”
Jordan added: “Reed Smith will continue to partner with Thompson & Knight on shared work as we move ahead to pursue our firm’s strategic growth plans and serve our clients.”
