What Do Magic Circle Partners Think Of The A&O Shearman Merger? Not Much...
The deal seems to be getting met with a collective shoulder shrug in the U.K.
Ed. note: Welcome to our daily feature, Quote of the Day.
The truth is that it doesn’t make much difference in the U.K.
It probably will not set any precedent because it is difficult to merge firms because of different cultures, especially between the U.S. and U.K. It will take about 10 years to determine [if it’s a success or failure]. It’s really important to see if they get synergies, it’s really important to see who stays because often people leave after mergers.
— The U.K. head of a U.S. firm, in anonymous comments given to Law.com International concerning the recently approved merger between Allen & Overy and Shearman & Sterling that would unite the firms to become A&O Shearman come sometime in May 2024. The partner said that the combination would “inevitably” bolster A&O’s portrayal in the U.S., but won’t be of much assistance in the U.K.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
