Law Firms Allen & Overy and Shearman & Sterling Seek to Merge
Posted on 05/23/2023
Allen & Overy (A&O) is known as a UK magic circle law firm. Allen & Overy is planning a US$ 3.4 billion merger with New York-based law firm Shearman & Sterling. This is one of the biggest transatlantic legal deals in history. The merger is subject to a vote of partners at both firms. Allen & Overy is the significantly larger partner, reporting revenues of £1.9 billion. In 2022, Shearman & Sterling generated revenues of US$ 907 million. A&O Shearman, as it is to be called, would have more than 3,900 lawyers and 800 partners in offices spanning 29 countries.
This news comes after Shearman & Sterling ended merger talks with rival Hogan Lovells. Allen & Overy had tried to merge with California law firm O’Melveny & Myers LLP, but there were disagreements on valuations.
In 2000, Clifford Chance merged with Rogers & Wells in 2000.
