Fri, 20 Sep 2013 | DIVISION SALE
Manchester-based law firm Pannone is said to be considering a sale of its consumer business division to Slater & Gordon.
Reports from The Lawyer revealed that sources close to Pannone have confirmed that due diligence is already underway and a demerger of the private client business is to be expected. Staff are said to have received an email telling them to expect an announcement at the end of the month after partners take a vote on the matter next week.
Slater & Gordon, meanwhile, is working towards its goal of becoming the lead consumer firm brand in the UK. Combining personal injury, clinical negligence, family and employment groups with Pannone would represent a major step along this route.
Slater & Gordon gave a statement to the news source: “At any point in time we are in discussions with a number of firms.
“But as a publicly listed company if we did have an announcement to make about a potential acquisition of a material nature we would of course first make an announcement to the ASX [Australia's stock exchange, where the company is listed]. We are not in a position to comment on any specific anonymous reports at this time.”
The Australian company first entered the British market in 2012 with its acquisition of Russell Jones & Walker. Since then it has gone on to make a number of strategic acquisitions and build up its presence and turnover in the UK.
___________________________________________________________________________
Related information:
Law firm merger boosts turnover
This is a unique opportunity to acquire valuable intellectual property assets from a well-established wholesaler with many years of experience in the discount food and non-food sector in the Midlands.
This is an opportunity to acquire a long-established specialist bakery business, supplying major UK supermarkets and boasting a fully equipped production facility with a skilled workforce.
Discover the rare chance to acquire a specialist UK supplier of marine engines and generators, noted for their leadership in the used marine engine market and hard-to-find parts.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.