San Francisco and Washington (ots/PRNewswire) -
- Combined Firm, With Approximately 900 Lawyers in 16
International Offices, Will Boast Marquee Practices in Capital
Markets, Corporate Finance, Outsourcing, Litigation, IP Governmental
Regulation and Real Estate
Law firms Pillsbury Winthrop LLP and Shaw Pittman LLP have signed
a letter of intent to merge the two firms. The combination will
create a new entrant among the closely watched American Lawyer Top
20, and a new legal brand with recognized eminence in capital
markets, corporate finance, real estate, tax, global technology
sourcing, intellectual property, litigation, and government and
The combined firm, to be called Pillsbury Winthrop Shaw Pittman
LLP, will have some 900 attorneys in 16 international offices, and
approximate annual billings of more than US$600 million. The firm
will have a major presence on both U.S. coasts as well as in Europe,
Asia and Australia, with marquee practices in a variety of sectors
and industries. Although the transaction will propel the firm into
the upper echelon of legal industry rankings, both parties emphasize
that combined practice strength and market reach, not sheer size, are
the driving factors behind the merger.
The merger will give Pillsbury Winthrop an immediate boost in
Washington, D.C. and Northern Virginia, where Shaw Pittman is
headquartered, and will add to the bench strength for both firms in
the coveted technology corridor of Northern Virginia. The merger will
also expand both firms' presence in the London legal market, where
Shaw Pittman has an internationally recognized global sourcing
For Shaw Pittman, the merger enhances a global platform for
expanded service to its client base. The new firm will bring together
complementary practices in a number of areas, fusing Shaw Pittman's
strengths in global outsourcing, real estate, nuclear energy, banking
and government affairs with Pillsbury Winthrop's eminence in banking
and finance, technology, corporate and securities, real estate,
environment, energy and intellectual property.
"Both firms bring outstanding client value and legal capabilities
to the table," says Mary B. Cranston, chair of Pillsbury Winthrop.
"This merger allows all of our attorneys to immediately offer clients
greater resources and depth nationally, with a balanced
representation of lawyers on both coasts. It also gives us broader
international reach at a time when many of our clients are looking to
us for cross-border work and global counsel. In fact, we have already
discussed the merger with a number of existing clients and the
response has been uniformly enthusiastic."
The two firms began exploratory conversations over a year ago and
have been in formal discussions since mid-December. The merger is
subject to approval by the partners of both firms and the execution
of a definitive agreement; it is expected to close by mid-Spring.
"Pillsbury Winthrop, like Shaw Pittman, has a distinguished
history and a broad spectrum of top-ranked practices, with a
reputation for quality, excellence and service to clients," says
Stephen B. Huttler, managing partner of Shaw Pittman.
"Pillsbury Winthrop is nationally recognized for its expertise in
many areas of the law that are critical to our client base --
corporate transactions and securities, litigation and arbitration,
intellectual property and life sciences," he added. "Because our
firms already counsel and represent many mutual clients, we've seen a
number of practice synergies, and have learned from experience how
satisfying it is for our attorneys to work together. We could not
have chosen a more suitable partner."
The overall management structure will have Mary Cranston
continuing as chair of the new firm. Huttler will become one of two
vice chairs, along with David Snyder of Pillsbury Winthrop. Marina
Park of Pillsbury Winthrop will be firm-wide managing partner.
Although Pillsbury Winthrop is currently the larger of the two
entities, Shaw Pittman will be well-represented in firm-wide
management, as well as in leadership of practice groups and offices
where both firms currently reside, primarily Washington, D.C. and
For Pillsbury Winthrop, the merger brings some outstanding
complements. As Cranston puts it, "Shaw Pittman is a high-energy firm
that has created an outstanding reputation since its founding more
than 50 years ago. We are as much excited by drawing on Shaw
Pittman's entrepreneurial culture as we are in tapping into its
diverse practices and highly-skilled lawyers."
Cranston points to Shaw Pittman's global technology sourcing
practice, widely regarded as the pre-eminent in the world. "We see
the technology outsourcing group dovetailing with so many of our
existing practices, including IP, labor and employment, privacy and
corporate finance," she says, adding that the new outsourcing
attorneys will likely help generate substantial merger & acquisition
work as well.
Pillsbury Winthrop completed approximately US$54 billion in
corporate finance transactions in 2004. In the past several years,
Shaw Pittman has completed over 450 complex technology transactions
involving the purchase and sale of services valued at over US$350
"Shaw Pittman's prominence in Washington will be of obvious
interest to many of our corporate and institutional clients," notes
Cranston. The combination will also make the combined firm the
largest in Northern Virginia, with market leading practices in
corporate, emerging growth, and intellectual property and in the
security industry sector.
Additional dividends are expected from Shaw Pittman's extensive
regulatory work in nuclear energy, banking and communications, as
well as from its national transactional practices, particularly in
the active REIT market. All combine easily with Pillsbury Winthrop's
national energy, finance, telecommunications and real estate work.
"For our technology clients, Pillsbury Winthrop's financial practice
means critical entree into the capital markets," says Huttler.
"We have some road-tested experience in this area," Cranston
notes, a reference to the previously successful merger in 2001 that
created Pillsbury Winthrop out of two longstanding firms in San
Francisco (Pillsbury Madison & Sutro) and New York (Winthrop,
Stimson, Putnam & Roberts). Pillsbury Madison & Sutro also grew from
earlier mergers with Lillick McHose and Cushman Darby Cushman.
Both Cranston and Huttler remain circumspect about putting exact
numbers to the final composition of the combined firm. "We do know
that by almost any measure, we are looking at a superbly positioned,
world-class law firm, one that is able to compete on any playing
field with a full range of practice disciplines," Cranston says.
Pillsbury Winthrop is currently ranked at 39 in the American
Lawyer Top 100 and was ranked 6 out of nearly 300 law firms in an
independent survey by BTI Consulting on client service. Shaw Pittman
ranks 99th in the American Lawyer Top 200 firms. The Chambers USA
2005 guide recently recommended a total of 42 Pillsbury Winthrop and
Shaw Pittman partners as leaders in their fields.
Pillsbury Winthrop currently has offices in Century City, Houston,
London, Los Angeles, New York, Northern Virginia, Orange County,
Sacramento, San Diego, San Diego-North County, San Francisco, Silicon
Valley, Stamford, Sydney, Tokyo and Washington, D.C. Shaw Pittman,
headquartered in Washington, has additional offices in London,
Taipei, New York, Northern Virginia, and Northern California.
For more information on either firm's current profiles, visit
http://www.pillsburywinthrop.com or http://www.shawpittman.com.
ots Originaltext: Shaw Pittman LLP; Pillsbury Winthrop LLP
Im Internet recherchierbar: http://www.newsaktuell.ch
Crystal Rockwood, +1-800-729-9830, firstname.lastname@example.org,
or Eric Gertsman, +1-866-228-1481, email@example.com,
both of Pillsbury Winthrop LLP; or Diane
Zyats, +1-202-663-8331, firstname.lastname@example.org, of Shaw Pittman