The two firms are reportedly negotiating a potential tie-up that would create a firm with roughly 570 lawyers and around $478m in gross revenue. While both firms have declined to release statements on the merger talks, a source close to Herrick Feinstein told industry publication The American Lawyer that negotiations have been taking place for several months. With 440 lawyers and $363m in revenue last year, Washington-based Cromwell is the larger of the two firms. However, a tie-up with Herrick would considerably expand the firm’s New York footprint, and would likely boost Cromwell around 20 rungs up the Am Law 100 list (where it is currently ranked 88th).
Crowell & Moring and Herrick Feinstein lay groundwork for US merger
Washington-based Crowell & Moring and New York-based Herrick Feinstein may combine to create a firm worth nearly half a billion dollars.