Slater & Gordon eyes Leo Abse acquisition
Multinational law firm Slater & Gordon has confirmed to Insider it is in talks to acquire Welsh counterpart Leo Abse & Cohen (LAC), which has branch in Newport.
The Australian firm, which entered the UK market in 2012 and now has 18 offices across the UK, including Newport, Cardiff and Swansea, said it has been in "preliminary talks" with LAC and a number of other firms.
Neil Kinsella, head of UK at Slater & Gordon, said: "We have made no secret of our ambition to be the leading provider of legal services to people across the UK.
"As the legal services market continues to consolidate we are always looking for opportunities which align with our aims. We are in discussions with a number of firms and organisations.
"Naturally these include LAC given similarity of their values to Slater & Gordon in priding themselves in delivering high quality, affordable legal services, and their pre-eminent reputation in Cardiff."
LAC was formed in Cardiff in 1952 and has offices in Newport, Swansea, Bristol, Exeter, Swindon, Taunton and Truro.
Ron Zammit, chief executive of LAC, added: "We are a significant force in the South Wales legal market and we are exploring ways of working with others to provide benefits to LAC clients.
"At this time we have had preliminary discussions with Slater & Gordon as they have with other firms and organisations.
"There is no agreement between LAC and Slater & Gordon as to the basis of a relationship and if it will progress but we are in a time of unprecedented change in the market and we are exploring all avenues available to adapt to the new landscape."