Although merger talks between Clifford Chance and Australian firm Mallesons Stephen Jaques collapsed last week, the Magic Circle firm has proved it is still merger active, solidifying its European presence in a merger with its Romanian ally, Badea & Asociatii.
 
The merger, which is subject to a partner vote, will be formalised in May next year, adding four partners and 50 fee earners to the UK giant's numbers.

The two firms engaged in an association when Clifford Chance launched in Bucharest two years ago, with a view to joining the two firms following the three-year waiting period.

The year 2008 has been an interesting one for law firm mergers, compounded most recently by talks that the alliance between ATMD and Bird & Bird will result in a full-blown merger. The financial crisis has, however, had an adverse impact on a number of potential mergers, particularly in the case of US firms Thelen and Heller Ehrman, both of which were actively looking for a partner before their demise.