Dec. 3 (Bloomberg Law) -- Kent Zimmermann, consultant at the Zeughauser Group, talks with Bloomberg Law's Lee Pacchia about the market forces behind a recent wave of law firm mergers. Zimmermann says mega-deals such as Norton Rose's merger with Fulbright & Jaworski and SNR Denton's combination with Salans and Fraser Milner is more about building global footprints rather than maximizing short term profitability. Zimmermann notes that the urbanization of the world's economy has spurred the majority firms in the AMLAW 100 to aspire to become preeminent global enterprises. Increasingly, he says, law firm leaders are looking to use mergers as a quick way to globalize.
Greece has sent a new 26-page list of economic reforms to its creditors, while the ECB increases its emergency assistance, by a smaller amount, to Greek banks. Bloomberg's Hans Nichols reports on "Countdown." (Source: Bloomberg)
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