What Happens to In-House Lawyers When Companies Merge?
Whether it’s being acquired by a larger business or merging with a peer, a major shake-up at a company can hurt an in-house legal department.
In the case of a merger — for example, after a federal judge earlier this month ruled that AT&T Inc. can complete its $85 billion purchase of Time Warner Inc., or The Walt Disney Co.’s increased $71.3 billion recent bid for the film and television studios of 21st Century Fox Inc. — companies don’t need two GCs. So what becomes of the two in-house teams, and what can lawyers who sense a big change coming do to prepare?
“Like any material change or big change with a company, it’s a time of uncertainty for the legal department,” said Sonya Olds Som, a partner at Major Lindsey & Africa LLC who provides coaching to in-house candidates.
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