Slater & Gordon has refused to clarify the prospects of almost 200 people whose jobs appear at risk following its £33m takeover of Manchester firm Pannone.

The listed Australian firm capped a week of merger talk involving mid-sized firms by confirming plans to acquire the majority of Pannone. Slater & Gordon said the acquisition would propel it into the top two slots for market share in most consumer law practice areas. Pannone's corporate division, Pannone Corporate, will retain the brand for services to businesses under the ownership of current partners.