2023-10-13 20:53:30
Updated Friday, October 13, 2023 – 20:53
With a result of 99% favorable votes, they add combined income of about 3.5 billion dollars
Adam Hakki, senior partner at Shearman & Sterling.Joaqun Carazo
Allen & Overy y Shearman & Sterling announce today that the partners of both firms have voted in favor of the merger to create A&O Shearman. With a result of 99% favorable votes, they have combined revenues of about 3.5 billion dollars. They will be made up of 3,950 lawyers and 800 partners distributed in 48 offices around the world.
This merger will unite two of the most prestigious law firms in the world, combining complementary strengths and cultures. Together, they will create a firm with unique characteristics, whose purpose is to anticipate the changes that the market presents to us to offer excellence and innovation on the most complex client matters.
With a global offering of the highest quality, A&O Shearman will be the reference firm to provide local and cross-border support to clients in an environment legal, regulatory and geopolitical increasingly complex. Both firms will now embark on a period of integration planning, and will work together towards the final closing of the transaction, which will occur in May 2024.
Wim DejongheSenior Partner at Allen & Overy globally, said: “This is a historic moment for both firms. We are delighted that our partners voted in favor of this merger, which represents a transformative step for the legal sector. We have always “We admire Shearman & Sterling for its excellent reputation and talent, and we are confident that together we will create a truly exceptional global firm that will serve the needs of our clients in an increasingly complex and dynamic world.”
Adam Hakki, Senior Partner at Shearman & Sterling globally, comments: “Our partners are very excited about this unprecedented opportunity to combine the leadership of both firms in their corresponding markets to serve clients as an integrated global firm, preeminent in all the jurisdictions in which we operate. A&O Shearman to be a firm unlike any other in the world, built to achieve exceptional results for our clients. focusing on offering the highest quality, excellence and collaborative environment. “We are creating a new industry leader, with truly global capabilities.”
With combined experience advising many of the world’s leading companies, funds, financial institutions, governments and government organizations, A&O Shearman has an exceptional background, given the history of the two firms, since the founding of Allen & Overy in 1930 and the creation of Shearman & Sterling in 1873 in New York City.
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