The "historic" transaction is expected to close by May, 2024
Allen & Overy and Shearman & Sterling are officially merging to create global giant A&O Shearman. More than 99% of the votes cast by partners at each firm were in favor of the merger.
This merger – which was first announced in May, 2023 – will combine two law firms with complementary strengths and cultures. With a global offering, A&O Shearman will provide local and cross-border support to clients as they navigate an increasingly complex legal, regulatory, and geopolitical environment. The combined firm boats close to 4,000 including around 800 partners across 48 offices with combined revenues of approximately $3.5 billion.
The firms will now embark on period of active integration planning, while they work together toward final closing of the transaction, which is anticipated in or before May 2024.
“This is a historic moment for both firms and our profession,” said Wim Dejonghe, senior partner at Allen & Overy. “We are delighted that our partners have voted so resoundingly in favor of this merger, which is a transformational step for the legal industry.
“We have long admired Shearman & Sterling for its outstanding reputation, talent, and client base, and we are confident that together we will create a truly exceptional global firm that will serve our clients’ needs in an increasingly complex and dynamic world.”
Adam Hakki, senior partner at Shearman & Sterling, added: “Our partners have recognized and welcomed this unparalleled opportunity to combine our individual market leadership and brands to serve clients as an integrated global law firm, preeminent in all our markets. A&O Shearman will be a firm unlike any other in the world, built to achieve exceptional outcomes for our clients through an intentional focus on quality, excellence, and collaboration. We are creating a new industry leader, with truly global capabilities and we are excited for what is to come.”
Allen & Overy began in the City of London in 1930, while Shearman & Sterling was founded in 1873 in New York City.
Allen & Overy one of the top Australian law firms in terms of revenue. Read more here.
