Cadwalader
has
taken
hit
after
hit
after
hit
in
recent
times,
with
sweeping
lateral
moves
affecting
one
of
the
firm’s
core
practices.
While
in
the
past,
the
firm
brushed
off
merger
rumors
with
denials,
it
now
seems
to
be
confirming
that
there’s
a
lot
of
interest
from
other
top
firms.
The
prospect
of
a
merger
for
the
embattled
firm
now
seems
like
it
may
be
gaining
momentum.
According
to
the
American
Lawyer,
a
combination
may
be
on
the
horizon
for
Cadwalader,
but
the
firm’s
reported
merger
partner
is
shrouded
in
mystery.
Here
are
some
additional
details:
[S]ources
have
indicated
in
the
last
week
that
Cadwalader
has
been
speaking
with
multiple
firms
lately
and
the
pace
of
talks
has
picked
up.
One
source
familiar
with
the
circumstances
described
the
set
of
courters
as
a
rolling
group
of
three.Sources
say
possible
merger
partner
firms
are
likely
ranked
in
the
Am
Law
25
to
Am
Law
50
range
—
where
firms’
gross
revenues
exceed
$1
billion
—
and
are
generally
interested
in
Cadwalader’s
corporate
practices
and
its
large
New
York
office.
Cadwalader,
ranked
No.
85
in
the
Am
Law
100,
generated
$638
million
in
gross
revenue
last
year.
Cadwalader
issued
a
statement,
noting
that
it
had
indeed
been
“approached”
by
other
firms,
with
a
spokesperson
saying,
“We
have
been
approached
by
many
top-tier
firms
for
years,
and
that
continues.”
What
will
happen
next
for
Cadwalader?
Industry
insiders
say
that
the
firm
should
expect
additional
partner
exits,
while
the
firm’s
spokesperson
says
“[t]he
firm
is
in
a
very
strong
financial
position
and
remains
confident
in
our
standalone
strategy.”
So,
will
the
firm
stand
alone
and
face
a
slow
death
by
departure
like
Stroock?
Or
will
it
embrace
the
prospect
of
a
merger
and
lean
on
strength
of
a
potential
Biglaw
suitor
to
stay
the
course?
We’ll
be
watching
to
see
whether
Cadwalader
can
turn
its
woes
into
a
way
forward.
Cadwalader
Merger
Talks
Pick
Up
Pace
[American
Lawyer]
Wall
Street’s
Oldest
Biglaw
Firm
Appoints
Co-Managing
Partner
Amid
Mass
Exits
And
Merger
Rumors
Staci
Zaretsky is
the
managing
editor
of
Above
the
Law,
where
she’s
worked
since
2011.
She’d
love
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