Some insiders at Freshfields, Clifford Chance and Linklaters are inclined to play down the impact of A&O's proposed merger with Shearman—but others concede it could lead to refreshed approaches to the U.S. market.
May 24, 2023 at 08:22 AM
6 minute read
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The original version of this story was published on Law.com International
The so-called ‘Magic Circle’ firms have made no secret of the fact that they need a greater U.S. presence to be truly global.
“But in the absence of a merger, that’s a very laborious, long and expensive process,” said one former Clifford Chance partner. But, by announcing a proposed combination with Shearman & Sterling, Allen & Overy has done just that and slingshotted itself to the “front of the pack”, as an ex-Shearman lawyer put it.
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