McKenna, Dentons Call Off Merger
The proposed merger between McKenna Long & Aldridge and global megafirm Dentons is off, the firms confirmed Tuesday.
"We are not in a position to successfully bring our firms together at this time," the firms said in a joint statement. "We look forward to maintaining the many friendships and working relationships, including with shared clients, that partners in both firms have forged. Both firms will continue to advance their respective strategic priorities."
McKenna put the deal to its partnership for a vote Tuesday, after missing a Nov. 14 deadline that the two firms set when they announced the potential combination a month ago—but called a halt to the voting by midday. The board emailed the partners before the balloting had closed, informing them that it had decided not to go forward with the merger, according to two McKenna partners.
McKenna's partnership agreement required a two-thirds vote by its equity partnership to approve the deal.
The Daily Report will have a more detailed story online tonight and in our print edition Wednesday.