UK legal and professional financial advisory services provider Gordon Dadds Group PLC announced that it agreed to buy commercial law firm Ince & Co International LLP to create one of UK's largest listed law firm by revenue.
The consideration is expected to amount to 34 million pounds ($43.4 million). Gordon Dadds will also issue to the members of Ince & Co up to 3 million options to subscribe for shares in Gordon Dadds at $17.89 which may be exercised at any time up to the end of 2028.
Ince & Co said it aims to become a top 40 UK legal firm and will trade as Ince Gordon Dadds LLP, with effect from completion of the acquisition, which the parties are aiming to occur by the end of 2018.
The merger will build upon the complementary strengths of the two firms in terms of industry expertise and range of services.