An Anglo-Scottish merger between firms Bircham Dyson Bell and Dundas & Wilson has been ruled out.

In a joint statement today, the firms said exploratory discussions to create a practice with combined revenues of £100m had not been successful.

Donald Shaw, managing partner of Dundas & Wilson, one of Scotland’s so-called ‘big four’ law firms, said he was ‘naturally disappointed’ that talks had not proved fruitful.

Guy Vincent, managing partner of London-based City firm Bircham Dyson Bell, said: ‘Combining two well-established firms is always challenging even when, as is certainly the case here, there is substantial goodwill and business potential.

‘Both firms have independently and jointly concluded that, due to differences in their operating models, the downsides outweigh the potential upsides.’

The firms confirmed they will continue to collaborate on individual projects, particularly in the areas of major infrastructure and energy projects.