Ashurst, Perkins Coie agree transatlantic merger

(Sharecast News) - Ashurst and Perkins Coie have agreed to merge in a deal that will create one of the world's 20 largest law firms by revenue, it was announced on Monday, bringing together 3,000 lawyers across 52 offices in 23 countries. The combined firm, to be called Ashurst Perkins Coie, was expected to generate about $2.7bn in annual revenue operating through major hubs in London, Seattle, New York and Sydney.

It came on the back of a wave of consolidation in the legal sector as firms seek greater scale to compete across key global markets.

Recent mergers included Allen & Overy's combination with Shearman & Sterling in 2023 and the more recent deal between Herbert Smith Freehills and Kramer Levin.

Ashurst's global chief executive Paul Jenkins and Perkins Coie managing partner Bill Malley would serve as co-chief executives of the merged firm.

Both firms, which each generated roughly $1.3bn in revenue, said the merger would be fully integrated on a 50-50 basis, including shared leadership and pooled profits.

Jenkins told the Financial Times that the deal was driven by client demand for deeper US capabilities, while Malley said the merger would strengthen the firm's ability to offer seamless cross-border services in sectors such as technology, financial services, and energy and infrastructure.

Both leaders stressed the long-term strategic focus of their discussions, which began in February.

The agreement came despite political pressure facing Perkins Coie.

In March, US president Donald Trump issued an executive order targeting the firm over its past representation of Hillary Clinton, threatening to suspend security clearances and restrict access to government contracts.

A federal judge blocked the order, and Perkins Coie - along with several other firms - successfully challenged it in court, though the administration was appealing.

The firms said the merger aimed to bolster capabilities in areas such as artificial intelligence and innovation, and will help attract specialised talent.

The combination remained subject to partner approval and regulatory steps, with completion expected in late 2026.

Reporting by Josh White for Sharecast.com.