VLG snubs Orricks for Heller Ehrman deal
Palo Alto boutique The Venture Law Group (VLG) has rebuffed a proposed merger with Orrick Herrington & Sutcliffe to agree a tie up with San Francisco’s Heller Ehrman White & McAuliffe.
On Tuesday (2 September) VLG announced the Heller Ehrman deal, although the proposal is set to go to both firms’ partnerships on 9 September for final approval.
The agreement brings to an end a frantic period of merger talks for the highly-respected technology boutique, which has been hit hard by the two-year collapse in California’s technology and venture capital market.
VLG was already being wooed by Orricks before Legal Week revealed in July that the Palo Alto firm was also in talks with Heller Ehrman and Morrison & Foerster of San Francisco.
VLG's chairman Graig Johnson said: "Our combination with Heller Ehrman represents the next chapter in the evolution of [our firm]."
Heller Ehrman has around 660 lawyers while VLG has a little more than 60. The combined firm will unite under the Heller Ehrman brand.
Heller Ehrman chairman Barry Levin said: "[The combined firms] will be a world leader in serving both early stage and established life sciences and technology companies."
The merger signals the end of another of California’s celebrated technology specialists after Brobeck Phleger & Harrison in January announced that it was to dissolve amid partner defections and mounting firm debts.
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Author: Richard Tromans
Source: Legal Week
Start Date: 02/09/2003 00:00
End Date: 07/09/2003 00:00
