To Merge or Not to Merge: The Law Firm Mergers Boom

Over the past few months, corporate legal practice has seen a surge in merger activity. This can be attributed to a range of different factors; for instance, mergers as a tool for growth. Large firms are constantly looking to expand their practical and geographic reach, and a merger often accomplishes both. Afterall, the acquisition of a well-seasoned and trained team presents less risk than the launch of a fresh practice.

Steering away from Big Law’s mergers, strenuous economic conditions have also made smaller law firms more amenable to acquisition. Firms must confront uncomfortable costs such as professional indemnity insurance which make staying afloat as a small firm a demanding endeavour.

Furthermore, mergers have become a strategy to build competition for talent, maintain a sizeable market share, and achieve economies of scale. Moreover, with the expensive need to expand AI expertise and introduce tech experts into the firm on the rise, below are quick briefs into the key 3 mergers announced in late-2025 and 2026 likely to heavily impact the corporate legal structure.

Ashurst (UK) to merge with Perkins Coie (US)

This large-scale transatlantic merger, expected to complete by Q3 this year, would result in 3,000 lawyers across offices in 23 countries with a combined annual revenue of approximately £2.05 billion. While the merger was announced back in November 2025, the vote for formal partner approval is expected to take place in early 2026. Although, the confirmation remains subject to internal resistance from Perkins Coie’s partners. Nevertheless, this combination would expand Ashurst’s reach into the US and broaden Perkins Coie’s international reach. More specifically, with regards to practice area strengths, Perkins Coie brings expertise ranging from the tech sector and IP to litigation, while Ashurst delivers cross-border transactions and proficiency across the energy and infrastructure and financial services sectors.

Taylor Wessing (UK arm) merges with Winston and Strawn (US)

As a response to the ‘increasing client demand for seamlessly integrated US-UK-EU counsel’, Taylor Wessing and Winston Strawn announced a merger in December 2025. The respective partners voted in favour of the merger in January, and it is now expected to complete in May 2026. The new ‘Winston Taylor’ will be combining the two firms’ comprehensive expertise in various sectors from IP litigation to private wealth into a firm of over 1,400 lawyers spread across 20 offices in the UK, US, EU, and the Middle East with a revenue of over £1.2 billion.

Moreover, it is relevant to note that, with the exception of Belgium and the Netherlands, the European members of Taylor Wessing will not be joining the UK operation in aligning with Winston and Strawn.

Hogan Lovells (UK) to merge with Cadwalader, Wickersham, and Taft (US)

Marking the largest law firm combination in history, the combined ‘Hogan Lovells Cadwalader’ would generate an annual revenue in excess of a staggering £2.7 billion, creating the fifth largest firm by revenue with offices of 3,100 lawyers across the Americas, EMEA, and APAC. The merger was announced in December 2025 and is currently waiting the official green light from the firms’ partners. The vote is expected to take place in early 2026. Hogan Lovells Cadwalader combines the firms’ respective strengths into a practice skilled in M&A, litigation, private wealth, real estate, complex finance, and more.

Student Re-Focus

When asked about the everchanging nature of the sector or simply about topical issues among law firms, the response is as critical as it is complicated; and this can be your new talking point. Highlight the merger boom and what it means for the respective law firm. What courses of action are available to non-merging firms in the now sink-or-swim environment? What risk management mechanisms are in place to help firms adapt? What impact does ithave on client retention? Is it all about risking uncertainty or introducing new opportunities?