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New York firm Brown & Wood and Chicagos Sidley & Austin are in advanced merger talks, it emerged last week.

The merger would create the third-largest US-based...New York firm Brown & Wood and Chicagos Sidley & Austin are in advanced merger talks, it emerged last week.

The merger would create the third-largest US-based law firm and one of the ten largest in the world, with more than 1,300 lawyers.

Both firms have London offices.

Brown & Wood, which has 400 lawyers, is known for its capital markets expertise, while Sidleys has a broader corporate and litigation practice.

In 1999, Brown & Woods proposed merger with White & Case fell apart.