Wake Up Call: New A&O Shearman Would Pay Partners With Lockstep

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• The merger pact between London-based Allen & Overy and New York-based Shearman & Sterling has both firms agreeing to compensate partners on a modified lockstep basis. That would be a change for partners at both firms, according to a report. (Law.com International)
• Shearman needs to get 75% of its partners to approve the deal for the merger to succeed. (American Lawyer)
• A five-partner Shearman & Sterling energy and infrastructure projects team jumped to big London-headquartered ...