UK FIRM Manches has pulled out of merger talks with Halliwells, The Lawyer reports. However, the firms are continuing discussions with a view to Manches acquiring some parts of Halliwells. Halliwells is considered to be a prime consolidation target. Over the last financial year, profits per equity partner fell from £400,000 ($754, 645) to £280,000, while turnover was down to £83 million from £87 million.

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