International firms respond to merger talk
International law firms Shearman & Sterling and Hogan Lovells have neither confirmed nor denied rumours that the two are in early-stage merger talks, according to the Law Society Gazette of England and Wales.
The Gazette says that a merger of the two firms would be one of the biggest in recent years, creating a US $3.6 billion practice – comfortably inside the global top five.
A Hogan Lovells spokeswoman said: “As a leading global law firm we regularly review our global strategy and opportunities that we believe may be available to us, and that includes discussions with different firms in the market.
“This demonstrates our confidence in our unique offering and our balance of practice areas, global footprint and sector strength.”
Hogan Lovells in global top ten
A spokeswoman for Shearman & Sterling said: “We continuously consider the various levers of growth that are accessible to us as part of our strategic planning process.
“These include both internal and external opportunities that would benefit our firm and our clients. Beyond that, we never comment on market rumours or speculation.”
Hogan Lovells entered the global top ten after a merger between US firm Hogan & Hartson and London firm Lovells in 2010. It boasts around 2,800 lawyers, and announced record gains in its 2021 fiscal year, reaching $2.61 billion in total global revenue.
Shearman & Sterling has over 850 lawyers around the world, and reported just over $1 billon in gross revenue in 2021 its best financial year on record.