Duane Morris LLP and Satterlee Stephens announced that the partners of both firms have approved the material terms of a merger agreement.
The merger is expected that the deal to be finalized by the end of the month.
Philadelphia-based Duane Morris has an office in Wilmington. Satterlee Stephens is based on New York City.
The combination would expand Duane Morris’ presence in New York City, effectively growing the firm’s New York practice by 60 percent to more than 160 lawyers.
Duane Morris’ merger with Satterlee Stephens will expand our presence in #NewYork and enhance our depth in key practice areas and industry sectors. It's going to be a great combination!https://t.co/uPC5zIMN5u pic.twitter.com/B7xXTWV5of
— Duane Morris LLP (@DuaneMorrisLLP) January 17, 2020
The combined firm would operate as Duane Morris LLP.
With the merger, Duane Morris’ enhanced presence in New York City will offer local, national and international practices in such key areas as corporate; trial; finance; intellectual property; real estate; bankruptcy; venture capital and emerging companies; employment, labor, immigration and benefits; insurance; private client services; media and communications; and tax matters.
The combination, which is expected to take effect as of February 1 will enhance New York’s status as the firm’s largest market outside its Philadelphia headquarters.
“We’re excited to welcome the Satterlee Stephens team,” said Matthew A. Taylor, CEO of Duane Morris. “The fine lawyers at Satterlee bring great practice strength in litigation, corporate, bankruptcy, IP, immigration, and trusts and estates, as well as deep knowledge in industries such as financial services, technology and life sciences that mirror those at the core of our strategic plan. We’ve been talking for quite a while, so we are very comfortable that this would be a spot-on cultural fit as well.”
The firm would operate from both Duane Morris’ existing location on Times Square and Satterlee’s office at 230 Park Avenue.