Dewey Ballantine LLP and LeBoeuf, Lamb, Greene & MacRae LLP to Combine Creating One of the World's Premier Law Firms

    NEW YORK, Aug. 27 /PRNewswire/ -- Dewey Ballantine LLP ("Dewey
 Ballantine") and LeBoeuf, Lamb, Greene & MacRae LLP ("LeBoeuf Lamb"), two
 leading international law firms, today announced that they have entered
 into a definitive agreement to merge, subject to partner approval. The
 combination will create a premier New York law firm with extensive global
 reach, bringing together some of the most prominent practices and industry
 leaders, with more than 1,300 attorneys in 12 countries and revenues
 approaching $1 billion.
     The combined firm, which will be known as Dewey & LeBoeuf LLP ("Dewey &
 LeBoeuf"), will be an established powerhouse in New York, Washington, D.C.,
 and London, the most important cities for transaction deal flow. Dewey &
 LeBoeuf will cover 12 countries, ranking 13th globally and third among U.S.
 firms in terms of number of countries covered, as per ALM Global 100 2006.
 It will rank as the fifth largest firm in New York City with approximately
 550 lawyers and the fifth largest U.S.-headquartered firm in London with
 approximately 170 lawyers. Dewey & LeBoeuf also will have a presence in
 nearly every key international financial and commercial center and will
 rank as the 14th largest firm by headcount and the 16th largest firm by
 revenue in the United States. Steven H. Davis will lead the combined firm
 as Chairman, with equal representation from Dewey Ballantine and LeBoeuf
 Lamb on its Executive Committee.
     The Dewey & LeBoeuf merger will result in a broader and deeper client
 offering with complementary practice areas and industry focus, providing an
 excellent fit. In the instances where both firms' practice areas are
 similar, the combination makes those areas deeper and stronger. For
 example, the combined firm will be characterized by market-leading practice
 groups such as mergers and acquisitions, complex litigation, intellectual
 property litigation, government investigations, international trade,
 capital markets, structured finance, private equity, antitrust, and tax.
 The combined firm will possess leading industry experience in sectors
 including banking, energy, utilities, insurance, sports and entertainment,
 life sciences and healthcare, and telecommunications.
     "This strategic combination will create a premier New York law firm
 with extensive global reach," said LeBoeuf Lamb's Chairman, Steven H.
 Davis. "The quality, scale and scope we will offer as a combined firm will
 enable us to continue attracting the most prominent clients and to address
 complex and challenging legal issues our clients face on a national and
 global basis. Combining our strengths and collective resources into one
 organization advances LeBoeuf Lamb's goal to broaden and deepen our
 practice offerings and global presence, add highly skilled and dynamic
 lawyers and continue to focus on increasing profitability."
     "Dewey Ballantine has been focused on growth for some time, and this
 combination with LeBoeuf Lamb is an especially good fit. LeBoeuf Lamb
 brings a practice and industry focus that complements and enhances our
 areas of practice to create a powerful array of offerings for clients,"
 said Morton Pierce, Co-chair of Dewey Ballantine. "Clients will benefit
 from significant additional resources from a firm with a presence in nearly
 every key international financial and commercial center, and we believe
 this combination is to the advantage of everyone at the firm and our
 clients worldwide."
     Dewey Ballantine and LeBoeuf Lamb, which are both headquartered in New
 York City, share a similar heritage and evolution, which is underscored by
 the firms' compatible cultures, values, and visions. Both firms have
 comparable operational and governance structures that will facilitate a
 smooth integration. Dewey Ballantine and LeBoeuf Lamb's financial metrics
 are also similar. Moreover, both firms share a strong commitment to the
 priorities highlighted in The American Lawyer's elite "A-List," including
 associate satisfaction, diversity, and the provision of pro bono legal
 services.
     The merger of Dewey Ballantine and LeBoeuf Lamb creates a catalyst for
 increased growth and profitability. The combined firm will be favorably
 positioned to capitalize on its existing international presence for even
 greater global success. Dewey & LeBoeuf will build on the momentum of both
 firms' recent achievements:
     -- Dewey Ballantine - In the last year, Dewey Ballantine has added more
        than 30 partners, including several strategic lateral hires, and has
        promoted 15 associates to partner, which accounts for a significant
        portion of the firm's more than 10% increase in personnel growth.
        Dewey Ballantine also opened an office in Charlotte, North Carolina -
        the nation's second largest financial services market.  Some of the
        firm's other milestones include:
 
        - #1 "2006 Banker Representation" (Mergermarket)
        - #5 in M&A (U.S. target announced and any U.S. involvement announced)
          (Thomson Financial, Q'1 2007)
        - #10 as underwriter's counsel in U.S. investment grade debt
          (Corporate Scorecard, The American Lawyer, 2007)
        - 30 lawyers recognized in Chambers USA 2007, 17 lawyers recognized in
          Chambers Global 2007, 22 lawyers recognized in Chambers Europe 2007*
        - #35 in Vault's ranking for Top 100 Law Firms 2007
 
     -- LeBoeuf Lamb - During the past 12 months, LeBoeuf Lamb has made 19
        lateral partner hires, which enabled the firm to enter and expand
        practice areas including Entertainment, Media and Sports, International
        Arbitration, Litigation, Technology and Intellectual Property,
        Environmental, Health and Safety, Real Estate, and Bankruptcy and
        Restructuring.  Additional milestones include:
 
        - #1 in M&A Insurance (SNL Financial, 2006)
        - #3 in U.S. investment grade corporate debt (Thomson Financial, Q'1
          2007)
        - #4 in M&A (Central and Eastern Europe) (Mergermarket, 2007)
        - 25 lawyers recognized in Chambers USA 2007, 25 lawyers recognized in
          Chambers Global 2007, 13 lawyers recognized in Chambers Europe 2007,
          6 lawyers recognized in Chambers UK 2007*
        - Reactions - Reinsurance Law Firm of the Year (5 years running)
     * Totals not mutually exclusive (some lawyers are recognized in more
 than one Chambers publication)
     The combined firm will have 26 offices in 12 countries: United States
 (New York, Washington, D.C., Albany, Austin, Boston, Charlotte, Chicago,
 Hartford, Houston, Jacksonville, Los Angeles, East Palo Alto, and San
 Francisco), United Kingdom (London), Belgium (Brussels), France (Paris),
 Germany (Frankfurt), Italy (Milan and Rome), Poland (Warsaw), China
 (Beijing and Hong Kong), South Africa (Johannesburg), Kazakhstan (Almaty),
 Russia (Moscow) and Saudi Arabia (Riyadh).
     Additionally, the combined firm will be better positioned to attract,
 retain, and promote the most talented partners, associates, and law
 students based on the firm's client work and financial performance. There
 also is a potential for increased opportunities for law students, with
 additional choices of practice areas and the possibility of increased
 hiring.
     The merger is expected to take effect by October 1, 2007, subject to an
 affirmative vote by both partnerships.
     Dewey Ballantine LLP, founded in 1909, is an international law firm
 with over 550 lawyers located in the United States (New York, Washington
 D.C., Los Angeles, East Palo Alto, Houston, Austin, Charlotte), United
 Kingdom (London), Germany (Frankfurt), Italy (Milan, Rome), Poland
 (Warsaw), and China (Beijing). Through its network of offices, the firm
 handles some of the largest, most complex corporate transactions,
 litigation and tax matters in areas such as M&A, private equity, project
 finance, corporate finance, corporate reorganization and bankruptcy,
 antitrust, intellectual property, sports law, structured finance and
 international trade. Industry specializations include energy and utilities,
 healthcare, insurance, financial services, media, consumer and industrial
 goods, consumer electronics, technology, telecommunications and
 transportation.
     LeBoeuf, Lamb, Greene & MacRae LLP, founded in 1929, is an
 international law firm with over 700 lawyers located in the United States
 (New York, Washington, D.C., Albany, Boston, Chicago, Hartford, Houston,
 Jacksonville, Los Angeles, and San Francisco), United Kingdom (London),
 Belgium (Brussels), China (Beijing and Hong Kong), France (Paris),
 Kazakhstan (Almaty), Russia (Moscow), South Africa (Johannesburg), and
 Saudi Arabia (Riyadh). The firm's experience in the energy, utilities, and
 insurance industries has brought it to leading positions in the corporate
 and financial services, bankruptcy, and litigation practice worldwide.
 LeBoeuf Lamb represents a diverse range of clients within areas such as
 banking, finance, insurance, energy, telecommunications, e-commerce,
 transportation, manufacturing, real estate, and entertainment, as well as
 trade associations and government agencies.
 
 

SOURCE Dewey Ballantine LLP; LeBoeuf Lamb

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