New York elite advise on Ashurst-Perkins Coie transatlantic tie-up

Davis Polk is acting for Ashurst on its planned $2.7 billion (£2.1 billion) merger with Perkins Coie, represented by Simpson Thacher, marking the second time the two advisers have faced off on a major transatlantic law-firm combination recently.

The merging firms have positioned the deal as a "combination of equals" that would bring together 3,000 lawyers across 23 countries, creating a top 20 global firm by revenue.

A familiar adviser match up

The A&O Shearman merger last year also showcased the same adviser line up now acting on Ashurst-Perkins Coie but with the US-UK client roles reversed: Simpson Thacher acted for Allen & Overy, while Davis Polk advised Shearman & Sterling.

US-UK reach

The proposed merger will be one of the most closely watched transatlantic combinations of recent years. The move comes as more UK firms search for scale across the lucrative US market, including Herbert Smith Freehills’ tie up with Kramer Levin, which went live earlier this year.

Deep sector coverage

The combined Ashurst Perkins Coie is pitching deep sector coverage, particularly in tech, financial services, and energy and infrastructure. For clients operating across both sides of the Atlantic, the new structure offers broader coverage but also concentrates competition among firms with global reach. Integration planning, governance and partner mobility will be the next major questions as both partnerships prepare their votes.

Advising

Davis Polk is acting for Ashurst. The core team is New York-based and includes M&A partner William H. Aaronson, chair and managing partner Neil Barr, and partner Michael Mollerus providing tax advice.

Simpson Thacher is acting for Perkins Coie. The deal team is led by New York M&A partners Eric Swedenburg and Anthony Vernace.