Allen & Overy and Shearman & Sterling partners will vote as soon as next month on a merger, with pay among the top issues deciding the plan’s fate.
At least 75% of partners on each side are needed to approve the deal, according to Craig Annis, a Shearman spokesman. Votes are expected in June or July, he said.
The tie-up would create one of the world’s largest law firms, with $3.4 billion in revenue and 3,900 lawyers. Shearman would get a much-needed financial lifeline and Allen & Overy would win the US footprint the firm has long sought.
“The ...
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