Following the union, their U.S. branch is set to sparkle with an approximate $1 billion in revenues and around 650 lawyers, including approximately 200 partners.
Allen & Overy and Shearman & Sterling : A Tale of Unrequited Mergers
Both Allen & Overy and Shearman have flirted with merger prospects in the past, but the stars never aligned. Shearman, for instance, was caught in the throes of discussion with Hogan Lovells late in December 2022. Alas, that dance was cut short in March.
On the flip side, Allen & Overy had engaged in a lengthy courtship with O’Melveny & Myers LLP, a merger that eventually withered away in September 2019.
Shearman’s Turbulent Ride
When the music ended with Hogan Lovells, Shearman faced a turbulent period. Staff and attorney layoffs left their mark earlier this year. The baton passed to a new leader, senior partner Adam Hakki, following the shattered dreams of the merger. The firm also waved goodbye to its entire German office, which sailed away to Morgan Lewis & Bockius LLP.
