Rowe & Maw has launched an ambitious bid to transform itself from a respected mid-sized City firm into a global player by throwing in its lot with Chicago giant Mayer Brown & Platt.

The deal to create Mayer Brown Rowe & Maw secures the most significant take-over of a City firm by a US parent. It was voted through by Mayer Brown’s partners on Friday (25 January) and is certain to increase the pressure on other mid-sized City firms to consider similar deals.