ILNews

Report: Ice Miller, Louisville firm end merger talks

Scott Olson
September 8, 2009
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Merger talks that began last year between Indianapolis-based Ice Miller LLP and a Louisville-based law firm reportedly have broken down, putting an end to a deal that was expected to close by the end of the year.

Citing an unnamed source at Greenebaum Doll & McDonald PLLC, Business First of Louisville reported Friday that months of negotiations between the firms had ended. The source said it became apparent within the past month that the merger would not move forward.

IBJ first reported in December that the two firms were poised to tie the knot. Ice Miller hasn't confirmed or denied the potential partnership and has repeatedly declined to discuss the negotiations. IBJ is a sister paper to Indiana Lawyer.

In an e-mailed statement to IBJ this morning, Ice Miller Managing Partner Byron Myers said the firm constantly is evaluating "growth opportunities" to better serve clients.

The source told Business First that Greenebaum Doll partners became concerned that aligning with a larger firm such as Ice Miller might result in a rate increase at a time when many clients already are struggling because of the recession.

Ice Miller has 258 attorneys, compared with Greenebaum Doll's 180. Both practices are venerable stalwarts in their respective cities - Ice Miller was founded in 1910 and Greenebaum Doll in 1952.

Sources have told IBJ that operational differences between the two - namely in the way the firms compensate partners - were taking longer than expected to sort out and may have helped stall a deal.

A failed merger with Ice Miller would represent the second time in the past few years that Greenebaum Doll could not close a deal. The firm had been in negotiations with St. Louis-based Thompson Coburn LLP about four years ago.

In addition to Louisville, Greenebaum Doll has Kentucky offices in Covington, Frankfort and Lexington, as well as in Cincinnati and in Nashville, Tenn.

Ice Miller has 227 lawyers in Indianapolis, ranking it as the third-largest in the city, according to the most recent statistics submitted by the firm to IBJ. It has 31 lawyers in Chicago, the Chicago suburb of Lisle and Washington, D.C.

Overall, law firm merger activity slowed during the second quarter, according to Chicago-based legal consultancy Hildebrandt. Nine mergers and acquisitions were completed compared with 14 in the second quarter of 2008.

Ice Miller may have an incentive to become larger to help offset its traditionally lucrative bond work, which is struggling in the challenging economy. Legislation passed by the General Assembly last year that puts big-ticket school construction projects to a referendum hasn't helped, either. Those projects are typically funded by bond sales.

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  1. Good riddance to this dangerous activist judge

  2. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

  3. I want to post this to keep this tread alive and hope more of David's former clients might come forward. In my case, this coward of a man represented me from June 2014 for a couple of months before I fired him. I knew something was wrong when he blatantly lied about what he had advised me in my contentious and unfortunate divorce trial. His impact on the proceedings cast a very long shadow and continues to impact me after a lengthy 19 month divorce. I would join a class action suit.

  4. The dispute in LB Indiana regarding lake front property rights is typical of most beach communities along our Great Lakes. Simply put, communication to non owners when visiting the lakefront would be beneficial. The Great Lakes are designated navigational waters (including shorelines). The high-water mark signifies the area one is able to navigate. This means you can walk, run, skip, etc. along the shores. You can't however loiter, camp, sunbath in front of someones property. Informational signs may be helpful to owners and visitors. Our Great Lakes are a treasure that should be enjoyed by all. PS We should all be concerned that the Long Beach, Indiana community is on septic systems.

  5. Dear Fan, let me help you correct the title to your post. "ACLU is [Left] most of the time" will render it accurate. Just google it if you doubt that I am, err, "right" about this: "By the mid-1930s, Roger Nash Baldwin had carved out a well-established reputation as America’s foremost civil libertarian. He was, at the same time, one of the nation’s leading figures in left-of-center circles. Founder and long time director of the American Civil Liberties Union, Baldwin was a firm Popular Fronter who believed that forces on the left side of the political spectrum should unite to ward off the threat posed by right-wing aggressors and to advance progressive causes. Baldwin’s expansive civil liberties perspective, coupled with his determined belief in the need for sweeping socioeconomic change, sometimes resulted in contradictory and controversial pronouncements. That made him something of a lightning rod for those who painted the ACLU with a red brush." http://www.harvardsquarelibrary.org/biographies/roger-baldwin-2/ "[George Soros underwrites the ACLU' which It supports open borders, has rushed to the defense of suspected terrorists and their abettors, and appointed former New Left terrorist Bernardine Dohrn to its Advisory Board." http://www.discoverthenetworks.org/viewSubCategory.asp?id=1237 "The creation of non-profit law firms ushered in an era of progressive public interest firms modeled after already established like the National Association for the Advancement of Colored People ("NAACP") and the American Civil Liberties Union ("ACLU") to advance progressive causes from the environmental protection to consumer advocacy." https://en.wikipedia.org/wiki/Cause_lawyering

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