The merger, which shall be topic to a vote by companions at each companies, will create the third-largest legislation agency on this planet with mixed revenues of roughly $3.4 billion. The brand new agency will retain 3,9000 attorneys throughout 49 places of work and boast equal capabilities in US, English and native legislation, working underneath the title Allen Overy Shearman Sterling, or A&O Shearman for brief.
The companies’ mixture is anticipated to speed up mutual progress methods. Shearman & Sterling will acquire entry to a worldwide community of practices, whereas Allen & Overy will acquire expanded entry to a company shopper base within the US.
“This mix of two nice companies is such an thrilling step for us,” mentioned Wim Dejonghe, senior companion at Allen & Overy. “Each companies have a historical past of excellence, and collectively we expect A&O Shearman shall be a agency in contrast to another on this planet. We’ve listened to our shoppers and their requests for the best high quality recommendation to assist navigate the calls for they face, and to take action in an built-in and globally constant manner.”
Adam Hakki, senior companion at Shearman & Sterling, additionally hailed the merger. “That is really a game-changing second for each companies that may create an unparalleled providing for our shoppers. Additionally it is a unbelievable alternative for our folks to be a part of a transformative transaction and an establishment of such significance, and we sit up for recruiting much more stellar expertise within the coming years,” he mentioned.