Allen & Overy, Shearman Merger Approved by Firms’ Partners (2)

Partners at the UK’s Allen & Overy and US-based Shearman & Sterling have approved a plan to merge the two firms, creating a massive new competitor in the legal industry.

The deal was approved by both firms, with 99% of partners at each voting in favor of the combination, according to a joint announcement. The merger is expected to officially close by May 2024, the firms said.

The new firm—A&O Shearman—joins the world’s largest, with roughly 3,900 lawyers and a combined gross revenue of $3.4 billion last year. The deal comes after both firms had explored tie-ups: A&O seeking a ...