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Legal consulting firms Altman Weil Inc. and Fairfax Associates have issued reports on the state of the law firm merger market in 2016.

Arise in the number of international combinations – with London firms featuring strongly – was largely responsible for the increase in mergers involving US firms in 2016, according to figures published today.

Lisa Smith is quoted. “The risk is always if the group splits – that people will make their own choices and say, ‘There may be a deal, but I’m a free agent,'” Smith at Fairfax, says.

Lisa Smith is quoted. “An interesting aspect of this [M&A activity] is that you may have fewer choices,” Smith says.

Lisa Smith is quoted. “Every firm I have spoken to that meets the size criteria says they’re applying,” said Lisa Smith, a principal at the law firm consultancy Fairfax Associates. “You can probably throw a dart to any firm with 200 lawyers and probably find one.”

Lisa Smith is quoted. “From what we’ve seen, most of the discussions that were happening have had to be put on hold. A lot of it does rely on face-to-face meetings,” Smith said. “For good reason, firms are very much focused on business continuity and operating their firms successfully. The ability to have the bandwidth to look at merger discussions as well as manage a business effectively just isn’t there.”