Slater & Gordon confirms Pannone talks

Slater & Gordon has confirmed that it is in sale talks with Pannone.

The Australian personal injury specialist has told the Australian stock exchange this week that it was looking at the deal after weeks of rumours about a possible purchase of Pannone.

With completion "imminent" according to Slater & Gordon, the purchase would be the latest in a line of firms that have been bought out by the legal powerhouse.

The exact nature of any acquisition is not entirely clear, with the firm's statement saying that it anticipated that it would be talking to Pannone and several other firms over the coming weeks.

"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," read the statement.

"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."

Manchester-based Pannone,led by managing partner Emma Holt posted profits of more than £10m in September.

Mark Dugdale