McKenna and Dentons Mum on Mega-Merger
The deadline for the partnerships of Atlanta's McKenna Long & Aldridge and global megafirm Dentons to vote on a combination has come and gone, but the firms have not yet announced whether there will be a deal.
McKenna's partnership still has not voted, according to three McKenna partners, even though the two firms jointly announced Oct. 29 that the voting by their respective partnerships would be completed no later than Nov. 14—last Thursday.
Reached on Friday, McKenna's chairman, Jeffrey Haidet, said he had nothing to announce yet.
A McKenna partner told the Daily Report on Nov. 8 that Haidet postponed voting that day, telling partners in an email that some of them had asked for more information.
Dentons' partnership was wrapping up its voting on Thursday, a firm spokesperson said, but Dentons still had not announced the results on Friday.
Two of the McKenna partners who talked to the Daily Report said they still expect a vote to occur.
The "overwhelming majority" of McKenna's partners support a combination with Dentons, one of them said Friday. "The question is whether two-thirds do."
The firm's partnership agreement requires a two-thirds supermajority to approve a merger.
"A dissident minority could throw the whole thing off," the partner said.
A tie-up between McKenna and Dentons would create one of the world's largest law firms, with about 3,175 lawyers and professionals.