Dorsey Partner Robert Rosenbaum was quoted in a Minnesota Lawyer article ("Firms Brace for Decline in Real Estate, Corporate Work," Minnesota Lawyer, 10/13/2008) on the decline in deal activity – and how law firms are responding. In the wake of the financial crisis, most clients have adopted a “wait and see” attitude toward corporate transactions. Law firms are preparing for a slowdown.
Well-capitalized companies are still doing deals, Rosenbaum explains, although due diligence takes much longer. “The area that has really slowed down is private equity-sponsored deals. The big question is whether new deals will come into the pipeline.”