London-based law firm Allen & Overy and New York's Shearman & Sterling plan to merge, they announced on Sunday, in a deal that would create one of the world's largest legal practices with combined global revenue of approximately $3.4 billion.
If approved by a vote of partners at both firms, the tie-up would be one of the largest law-firm mergers in recent years and result in a firm with around 3,900 lawyers across 49 offices worldwide.
Allen Overy Shearman Sterling, which will be called A&O Shearman for short, "will be the only global firm with U.S. law, English law and local law capabilities in equal measure," the two firms said in a joint statement. They said the deal will give Allen & Overy greater access to the U.S. corporate client base of Shearman & Sterling, which in turn would benefit from A&O's global reach.talks over a tie-up with transatlantic firm Hogan Lovells.
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