The combined firm will boast a stable of more than 3,950 lawyers and 800 partners across 48 global offices, in addition to approximately $3.5 billion in joint revenues. The firm's combined talent pool will be equally fluent in US and English law, with a breadth of insight into various global markets.
More than 99% of the partnerships of each of the firms voted in favour of the merger. The firms have announced that they will now embark on a period of active integration planning while they cooperate towards the final closing of the transaction, which is projected to take place in or before May 2024.
"This is a historic moment for both firms and our profession," said Wim Dejonghe, senior partner at Allen & Overy. "We are delighted that our partners have voted so resoundingly in favor of this merger, which is a transformational step for the legal industry."
"We have long admired Shearman & Sterling for its outstanding reputation, talent, and client base, and we are confident that together we will create a truly exceptional global firm that will serve our clients’ needs in an increasingly complex and dynamic world."
