Source: Financial Times
By Kate Beioley
Deal is first tie-up between a ‘magic circle’ group and an American rival in more than 20 years.
“Magic circle” law firm Allen & Overy is merging with New York’s Shearman & Sterling to form a practice with combined revenues of about $3.4bn, in one of the biggest transatlantic legal tie-ups in history.
The merger, which is subject to a vote of both firms’ partners, will create one of the largest law firms in the world by fee income and comes just months after 150-year-old Shearman abandoned merger talks with Hogan Lovells.
Allen Overy Shearman Sterling, as the newly combined firm is to be known, will have nearly 4,000 lawyers spread across 49 offices…
Read full article: https://www.ft.com/content/38ef46af-7fda-4b49-ac3a-d86e76e42f96
