Pannone search uncertain amid transaction talks
Australian law firm Slater & Gordon has confirmed that it is discussing a potential acquisition of law firm Pannone’s consumer business arm, in a move that may upset or delay one of Manchester’s largest office requirements.
Pannone had been on the market for around 95,000 sq ft of space in the city, but the move has been thrown into doubt following speculation over Slater & Gordon’s play.
In an update to the Australian Securities Exchange, the plan was acknowledged for the first time.
The statement read: “Slater & Gordon confirms that, consistent with our previously communicated strategy of actively pursuing expansion opportunities in the UK consumer legal services market and in light of recent speculation in the UK media, Pannone is a firm with which we are discussing a potential transaction.
“We will continue to keep the market informed; however, at present there is no material development to disclose in relation to a potential transaction with Pannone.
“We anticipate that discussions with a number of firms including Pannone will continue over the next several weeks.”
chris.berkin@estatesgazette.com
