A&O Shearman Merger Continues to Progress as Partners Prepare to Vote
Voting process set to begin on September 28th and completed by October 13th
News provided byShearman & Sterling
Sep 18, 2023, 9:41 AM ET
New York, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Allen & Overy and Shearman & Sterling continue to make great progress toward creating the unparalleled and fully integrated global elite law firm, A&O Shearman. All transaction milestones have been met thus far and support for the combination among clients, partners, and colleagues has been overwhelmingly positive worldwide.
Today both firms announced that the partnership votes to approve the transaction will start on September 28 and will be completed by October 13. The outcome will be announced shortly afterwards.
Wim Dejonghe, Senior Partner at Allen & Overy, said: “Preparations for the proposed merger are going well and we have received great feedback from clients and colleagues. Over the past few months, partners and teams from both firms have been meeting and building relationships, and the excitement about the opportunities for the merged firm is palpable. This response has only strengthened our belief in the transformational nature of this merger. We are both highly confident we will obtain the approval required to bring to fruition this unparalleled combination.”
Adam Hakki, Senior Partner at Shearman & Sterling, said: “This transformative transaction will bring a seamless offering across geographies to tackle clients’ most complex issues. We have made significant progress since announcing the combination, and our clients have expressed enthusiasm for the combination and what A&O Shearman will be able to deliver. Our partners and colleagues are very supportive and eager to launch the combined firm.”
The firms also announced today the successful completion of a number of key transaction milestones, including having completed financial and operational due diligence, the filing of requests for antitrust clearances (with the waiting period expired in the United States), and the completion of approval for all required modifications to retirement and pension programs.
This merger will combine two of the world’s most prestigious law firms, leaders in their respective markets, to create an integrated global elite firm. A&O Shearman will be the only global firm with U.S. law, English law, and local law capabilities in equal measure.
Together, A&O Shearman will have ~3,950 lawyers and ~800 partners across 48 offices. Allen & Overy and Shearman & Sterling have 250 years of combined experience and some of the greatest legal talent in the world.
The proposed merger is subject to customary closing conditions, including a vote of the partners of each of the respective firms.
Further information on A&O Shearman can be found here: announcingaoss.com
Leticia Correa Shearman & Sterling 212.848.8107 email@example.com
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