For those still questioning the response received from Mallesons by our friends at The New Lawyer yesterday, we invite you to read the very compelling, very believable anonymous tip received by us last night:
The rumour circulating that a formal merger between Mallesons and Clifford Chance is set to be announced within weeks is true. The Mallesons board has successfully executed a voluntary redundancy program through which the firm managed to rid itself of proportionately very high number of senior associates. This has come on the back of the firm executing a carefully orchestrated plan to (as the board calls it) ”retire-manage” – that is, to encourage ageing partners to exit the firm. These are not coincidences, but rather the strategic means by which the firm has been able to convince Clifford Chance that a ’leaner and meaner’ Mallesons makes the merger commercially provident for both firms. It has worked. I understand Robert Milliner and several other members of the Mallesons board met with Clifford Chance heads to hold renewed merger talks last week. Clifford Chance regarded the recent upswing in the Australian economy as significant in concluding that the international merger should take place. Less than 10 people at each firm know this information.
Less than 10 people?! Presumably the Mallesons media personnel contacted by The New Lawyer would therefore be unable to confirm whether this rumour is ‘scuttlebutt’.
You’ll recall that Mallesons and Clifford Chance held merger talks late last year which ultimately failed. If the above rumour is true, the merger would create almost inarguably the strongest global law firm. The firm would boast deep links in virtually all international jurisdictions, including the highly prized, emerging Asian markets.
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Sweet. Shotgun a 6 month stay in the swedish countryside office.