Mega operation in the legal field. Allen & Overy and Shearman & Sterling have reached an agreement to create a legal giant that together will bill approximately $3.4 billion. The two firms sealed a merger agreement to form one law firm that would thus become the third largest in the world: A&O Shearman.
A&O Shearman will have 3,900 attorneys and approximately 800 partners across 49 offices. The new law firm has a combined 250 years of experience and will be the only global firm with capabilities of equal measure in US, English and local law.
The merger responds to clients’ need for a global offering of the highest quality and depth to help them navigate an increasingly complex legal, regulatory and geopolitical environment. Henceforth, the parties shall analyze whether there is any inconsistency in the matters in which they are immersed so that the clients may be informed if necessary.
Allen & Overy and Shearman & Sterling complement clear market leadership, and between them it has tremendous strength in the US, UK and worldwide markets.
The merger of the two firms will change what they offer to clients: Shearman & Sterling will have access to a much broader proposition in the “rest of the world” through practice areas, and Allen & Overy will have greater recognition at the management level. The combined firm will be positioned to capitalize on global macro trends including the energy transition, technology and private equity.
Lazard is acting as financial advisor and Simpson Thatcher & Bartlett LLP is acting as legal advisor to Allen & Overy. Davis Polk & Wardwell LLP is acting as legal counsel to Shearman & Sterling.
“This combination of two great firms is a very exciting step for us,” said Wim Dejonge, Senior Partner at Allen & Overy. Both firms have a track record of excellence, and together we believe that A&O Shearman is the perfect solution for us. will be firm like no other in the world. We have listened to our customers and their requests for the highest quality advice to help them navigate their demands, and do so in an integrated and globally consistent manner We, A&O Shearman, will do this by accelerating our ability to contribute the best of both firms, regardless of geography.
“The needs of elite global law firm clients have never been greater. They are demanding integrated global legal advice and solutions: our ability to meet the merger with Allen & Overy,” said Adam Hakki, Senior Partner, Shearman & Sterling. will accelerate dramatically.” their needs in an increasingly complex environment. Allen & Overy is an exceptional law firm whose work we have long admired and share a common sentiment. We have insisted on keeping up, leading globalization and we are tireless.
