City firm Lovells and US firm Hogan & Hartson moved closer to a transatlantic merger today as management at each firm agreed to recommend the tie-up to partners.
Information on the proposed merger will be sent to partners at each firm late next week, before a partnership vote in mid-December. A positive result will see the firms merge on 1 May.
The merged firm would be among the 10 biggest in the world, numbering 2,500 lawyers in 40 offices and with a combined revenue of more than £1.1bn.
Lovells managing partner David Harris said: ‘The strong similarities in the fundamental values of each firm, combined with the powerful business rationale for the merger, are a compelling proposition. Both of us are seeking to create a truly global law firm capable of delivering a top-quality service across the world’s major commercial and legal markets. We have very complementary areas of legal strength, such as in corporate, M&A, finance, regulatory law, dispute resolution and intellectual property.’
Hogan & Hartson chairman Warren Gorrell Jr said that the combination of the two firms ‘complements each firm’s capabilities from a practice, geographic, and industry perspective’ and would ‘preserve the collegial and team-oriented cultures of each firm and our commitments to community service.’