Allen & Overy and Shearman & Sterling are poised to create a Biglaw behemoth, A&O Shearman, if their proposed merger is approved by the partnership of both firms. Once combined, the firm will have 3,900 lawyers with approximately 800 partners, spread across 49 offices. A&O Shearman’s combined revenue will total $3.4 billion.
The global fanfare over this planned merger began in May, and after several months of A&O and Shearman senior partners Wim Dejonghe and Adam Hakki glad-handing with partners across continents, a vote on the combination is nearly upon us.
As noted by the American Lawyer, a two-week partnership voting window is expected to start on September 28, and will last through October 13. Here are some additional details:
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The firms have announced that they have completed financial and operational due diligence, the filing of requests for antitrust clearances (with the waiting period expired in the United States), as well as the completion of approval for all modifications to retirement and pension programs.
Arrangements over pensions were thought to be one of the last significant hurdles in the talks between the two firms.
Dejonghe had this to say about the upcoming vote: “Preparations for the proposed merger are going well and we have received great feedback from clients and colleagues. Over the past few months, partners and teams from both firms have been meeting and building relationships, and the excitement about the opportunities for the merged firm is palpable.”
For the tie-up to be approved, 75% of each firm’s partnership must vote in favor of the merger. Best of luck to the firms as this process moves ahead to its conclusion. Maybe soon we’ll see a new top Am Law firm!
A&O, Shearman Partners to Begin Merger Vote Later This Month [American Lawyer]
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.