Weil, Gotshal & Manges weighs merger options after high-profile exits, Bloomberg reports

Sept. 18 (Reuters) – Weil, Gotshal & Manges is reviewing possibilities for its future, among them a possible combination with a rival, Bloomberg News said Friday, citing people familiar with the matter.

According to the report, the firm has been surveying its partners and examining measures to bolster its business through key hires and promotions, while remaining independent is still an option.

The review comes after a series of exits at Weil, notably New York dealmaker Michael Aiello and five other M&A partners who are due to join Cravath, Swaine & Moore, as well as two London-based M&A partners who recently left for Sullivan & Cromwell.

A spokesperson stated, “Weil is not engaged in merger discussions with any firm.”

The Bloomberg News report said senior leaders at the U.S. law firm have grown more receptive to combining with a competitor, and some have had informal talks to assess interest in a deal.

Established in 1931 and based in New York, Weil, Gotshal & Manges is recognized for its M&A, restructuring and bankruptcy work, and has roughly 1,200 attorneys around the world.