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Law firm mergers, however, carry significant risk.
Law firm mergers are booming, and a combination of Orrick and Pillsbury would be the year's largest.
In May, Dewey & LeBoeuf, which had been forged in one of the largest law firm mergers in history, went spectacularly out of business.
He was a Specialist on the floor of the NYSE through several firm mergers, retiring in 1988 as a partner of Mercator Partners.
"By contrast to the corporate world, law firm mergers have been pretty consistently high and at a much higher level than they have been in the past," Ms. Smith, the consultant, said.
Hildebrandt reported 53 law firm mergers in 2002, down from 82 the previous year but up sharply from the mid-1990's; there were just 11 such mergers in 1997.
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The Securities Commission said stockbrokers must sign firm merger agreements by the end of the year.
Yet the turmoil at Dewey & LeBoeuf has its origins in a boom-era law firm merger pushed by Mr. Davis.
The two firms created a 1,300-lawyer 1,300-lawyerh abehemothoffices across the withd aboutevenues of about $1 billion, making it the largest law firm merger in history.
The combination — the largest law firm merger to date — created an international giant poised to benefit in an era of globalization.
In a letter to a special committee of Southern Union's board, Mr. Armstrong proposed a tight schedule for a deal with his company, one that would conclude with a firm merger agreement by next Tuesday.
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