Law firms Ashurst, Perkins Coie agree merger to create global top-20 outfit

LONDON (Reuters) -London-headquartered law firm Ashurst and U.S.-based Perkins Coie on Monday announced they have agreed a merger which would create a combined firm of 3,000 lawyers with $2.7 billion in revenue, putting it in the top 20 worldwide.

The announcement, first reported by the Financial Times, marks the latest major transatlantic merger of law firms in recent years, part of a move toward consolidation as firms seek scale to compete across major markets and practice areas.

Ashurst and Perkins Coie said they had agreed a "combination of equals" with 52 offices in 23 countries.

Ashurst's global CEO Paul Jenkins said in a statement that "our ambition for many years has been to grow in the U.S. with the right partner".

Perkins Coie's managing partner Bill Malley similarly said that "Ashurst complements our geographic reach", adding that "we must strengthen our ability to deliver trusted legal guidance seamlessly across borders".

Jenkins and Malley will be global co-CEOs of the new firm, which will be called Ashurst Perkins Coie.

The firms said the proposed merger is subject to approval by a vote of partners at each firm and, if approved, is expected to be completed in late 2026.

The merger follows similar agreements between British and U.S. firms, following the deal between Herbert Smith Freehills and Kramer Levin, which was announced last year, and the Allen & Overy and Shearman & Sterling tie-up announced in 2023.

($1 = 0.7590 pounds)

(Reporting by Sam Tobin; Editing by Toby Chopra)