Partners approve merger that will create A&O Shearman
Law Firms
Partners approve merger that will create A&O Shearman
October 13, 2023, 11:31 am CDT
A merger between Allen & Overy and Shearman & Sterling will create a law firm with nearly 4,000 lawyers, including 800 partners, across 48 offices. Image from Shutterstock.
Partners at Allen & Overy and Shearman & Sterling have voted to approve a merger, the law firms announced Friday.
The merger was approved with 99% of the votes cast, according to a press release, a fact sheet and stories by Bloomberg Law, Law.com and Reuters. The combined firm will be called A&O Shearman.
The merger will create a firm with nearly 4,000 lawyers, including 800 partners, across 48 offices, according to the fact sheet. Its combined revenues will be $3.5 billion, creating the third-largest integrated global firm by gross revenue.
In the United States, the firm will have 200 partners and 650 lawyers.
According to Bloomberg Law, Shearman & Sterling “has been reeling from the effects of partner exits and a slow deals market.” The publication reports that the firm’s revenues decreased more than 10% last year.
Allen & Overy has also seen some partner departures since merger plans were announced in May, according to Law.com.
See also:
“After talks end with 1 BigLaw firm, Shearman announces plans to merge with another”
“Shearman leader will ‘begin to pass the torch’ after failed merger talks, overseas partner departures”
