The continental European network of collapsing Chicago firm Altheimer & Gray is being pursued by five US law firms as evidence emerges that partners are considering a deal which would see all offices outside of London being acquired by a single firm.

The firms – Salans, Akin Gump Strauss Hauer & Feld, Squire Sanders & Dempsey, Coudert Brothers and Sonneschein Nath & Rosenthal – have all expressed interest in acquiring all or parts of Altheimers’ continental network, which includes Paris, Warsaw, Budapest, Bucharest and Bratislava.