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Baker & Daniels completes merger with Minneapolis law firm

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Baker & Daniels LLP, one of the city’s largest and oldest law firms, said Wednesday that it has completed its merger with Minneapolis-based Faegre & Benson LLP.

IBJ reported in August that the two firms were in merger discussions with the hope of completing a deal in October. The merger is effective Jan. 1.

The name of the combined firm is Faegre Baker Daniels. B&D Consulting will change to FaegreBD Consulting.

With 221 local attorneys, Baker & Daniels is the Indianapolis area’s second-largest law firm behind Barnes & Thornburg LLP, which has 228 attorneys. Overall, it boasts 308 lawyers in seven locations, including Chicago; Washington, D.C.; and Beijing.

The merger with the 500-lawyer Faegre & Benson is the largest law-firm combination involving an Indianapolis practice. More importantly, it gives Baker & Daniels a larger regional presence and greater access to work.

"We’re excited about our deeper bench strength we’ll be able to offer across both firms,” said Tom Froehle, Baker & Daniels' managing partner.

Andrew Humphrey, Faegre’s managing partner, will continue in that role. Froehle will serve as chief operating partner.

Baker & Daniels is a full-service law firm with strong corporate, litigation, bankruptcy and real estate practices. Its high-profile local corporate clients include Eli Lilly and Co., WellPoint Inc., Clarian Health and Simon Property Group Inc.

It is not the only large Indianapolis firm to enter into a merger within the past few months. Ice Miller LLP, the city’s third-largest firm, announced in August that it is combining with Schottenstein Zox and Dunn Co. of Columbus, Ohio.

Ice Miller is the larger firm, with 224 lawyers. SZD, Columbus’ fourth-largest law practice, has 90. Phil Bayt, Ice Miller’s chief managing partner, will serve as chief managing partner for the combined firm. Jim Davidson from SZD and Rob Gauss and Brenda Horn from Ice Miller will serve as deputy managing partners.

The combined firm, which will operate as Ice Miller, will rank among the 150 largest law firms in the United States. The merger is effective Jan. 1.

Nationwide, merger activity is on the rise, as firms continue to explore partnerships that will provide them more of a regional presence.

In the three-month period ending Sept. 30, firms announced 16 mergers or acquisitions compared with just five during the same time last year, according to the most recent statistics from suburban Philadelphia-based Altman Weil Inc.

 

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  1. Cramer agrees...says don't buy it and sell it if you own it! Their "pay to play" cost is this issue. As long as they charge customers, they never will attain the critical mass needed to be a successful on company...Jim Cramer quote.

  2. My responses to some of the comments would include the following: 1. Our offer which included the forgiveness of debt (this is an immediate forgiveness and is not "spread over many years")represents debt that due to a reduction of interest rates in the economy arguably represents consideration together with the cash component of our offer that exceeds the $2.1 million apparently offered by another party. 2. The previous $2.1 million cash offer that was turned down by the CRC would have netted the CRC substantially less than $2.1 million. As a result even in hindsight the CRC was wise in turning down that offer. 3. With regard to "concerned Carmelite's" discussion of the previous financing Pedcor gave up $16.5 million in City debt in addition to the conveyance of the garage (appraised at $13 million)in exchange for the $22.5 million cash and debt obligations. The local media never discussed the $16.5 million in debt that we gave up which would show that we gave $29.5 million in value for the $23.5 million. 4.Pedcor would have been much happier if Brian was still operating his Deli and only made this offer as we believe that we can redevelop the building into something that will be better for the City and City Center where both Pedcor the citizens of Carmel have a large investment. Bruce Cordingley, President, Pedcor

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  4. WGN actually is two channels: 1. WGN Chicago, seen only in Chicago (and parts of Canada) - this station is one of the flagship CW affiliates. 2. WGN America - a nationwide cable channel that doesn't carry any CW programming, and doesn't have local affiliates. (In addition, as WGN is owned by Tribune, just like WTTV, WTTK, and WXIN, I can't imagine they would do anything to help WISH.) In Indianapolis, CW programming is already seen on WTTV 4 and WTTK 29, and when CBS takes over those stations' main channels, the CW will move to a sub channel, such as 4.2 or 4.3 and 29.2 or 29.3. TBS is only a cable channel these days and does not affiliate with local stations. WISH could move the MyNetwork affiliation from WNDY 23 to WISH 8, but I am beginning to think they may prefer to put together their own lineup of syndicated programming instead. While much of it would be "reruns" from broadcast or cable, that's pretty much what the MyNetwork does these days anyway. So since WISH has the choice, they may want to customize their lineup by choosing programs that they feel will garner better ratings in this market.

  5. The Pedcor debt is from the CRC paying ~$23M for the Pedcor's parking garage at City Center that is apprased at $13M. Why did we pay over the top money for a private businesses parking? What did we get out of it? Pedcor got free parking for their apartment and business tenants. Pedcor now gets another building for free that taxpayers have ~$3M tied up in. This is NOT a win win for taxpayers. It is just a win for Pedcor who contributes heavily to the Friends of Jim Brainard. The campaign reports are on the Hamilton County website. http://www2.hamiltoncounty.in.gov/publicdocs/Campaign%20Finance%20Images/defaultfiles.asp?ARG1=Campaign Finance Images&ARG2=/Brainard, Jim

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