Liverpool business and corporate law firm DWF has completed the acquisition of stricken rival Cobbetts in a deal first revealed last week.
Last week, Manchester-based Cobbets announced it was on the verge of calling in administrators and was seeking a buyer for the practice.
Yesterday, KPMG were appointed as administrators and DWF this morning announced the completion of a pre-pack deal.
The takeover will see 491 people, including 72 partners, transfer to DWF during the next few weeks.
They are currently based in offices in Manchester, Leeds, Birmingham and London.
The move excludes Andrew Bennett and his finance litigation team. This is due to the potential commercial conflicts following DWF’s recent merger with Fishburns. In an agreed move, the team will join Leeds based firm, Walker Morris.
DWF held merger talks with the firm last year but no deal was forthcoming.
Today, DWF managing partner and chief executive, Andrew Leaitherland, said: “Both firms agreed that this was the best route forward and so the process was a smooth one, with the two parties working towards the same outcome.
“This is the latest milestone in what is already proving to be a positive year for DWF and one that continues along our clearly defined plan of strategic growth.
“It’s crucial that when exploring deals such as these we are certain that the move is the right one, and we’re extremely confident that this is the case, with it further reinforcing our sector expertise, business knowledge and our ability to best serve our clients’ business interests.”