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Tuesday, 14 April 2026

Compiled with AI from public news sources. Folio is editorial commentary for commercial-awareness practice, not legal advice. Verify any detail against the linked sources before relying on it professionally.

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Top Story/M&A

Ashurst and Perkins Coie partners vote overwhelmingly to approve transatlantic merger creating a $2.8bn, 3,000-lawyer firm

Partners at Ashurst and Perkins Coie have voted to combine the two firms in a transatlantic merger that will create a combined entity with revenues of $2.8 billion and approximately 3,000 lawyers, with the tie-up expected to complete by the third quarter of 2026. Leadership at both firms described the vote as 'overwhelming' in favour of the combination. The merger will bring Seattle-born Perkins Coie — a firm with deep US tech and litigation practices — a meaningful UK foothold, while Ashurst gains a significant American platform and expands its presence to Sydney, Australia. The combined firm will rank among the top tier of global law firms by headcount and revenue. The deal reflects a sustained wave of transatlantic law firm consolidation, as mid-to-large firms seek the scale necessary to compete for cross-border mandates against the elite Magic Circle and lockstep US firms. For Ashurst in particular, a strong US platform has been a strategic gap; Perkins Coie's Pacific Northwest tech and government practice adds a differentiated profile beyond the typical New York financial sector entry. The completion timetable — Q3 2026 — means integration work, including partnership agreements, regulatory filings with the Solicitors Regulation Authority (SRA), and branding decisions, is already underway.

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Banking & Finance

Blue Owl's OBDC raises $400m in investment-grade bond issuance, marking the first BDC public debt deal in over a month as private credit markets reopen

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AI & Law

Simmons & Simmons launches its first AI law internship cohort of eight students, embedding technical and legal AI training in a structured programme

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Simmons & Simmons

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Bigger Picture

Sector Watch

Transatlantic Law Firm Consolidation

The Ashurst-Perkins Coie partner vote cements a $2.8bn transatlantic merger completing by Q3 2026, continuing the wave of consolidation triggered by A&O Shearman and the aggressive London expansion of elite US firms. Mid-tier firms without a credible dual-jurisdiction platform are increasingly losing cross-border M&A, disputes, and regulatory mandates to full-service global competitors. The integration pressure is creating its own legal market — partnership restructuring, SRA authorisation, and conflicts clearance work is landing at the very firms advising on similar deals for clients. Watch whether Herbert Smith Freehills, Hogan Lovells, or other large-but-not-elite transatlantic firms face similar strategic pressure to announce combinations before year-end.

One to Follow

The CMA's Phase 1 review of the Paramount Skydance / Warner Bros. Discovery $110bn merger, with the public consultation period now open and a potential Phase 2 referral on the horizon.

The CMA's independent assessment of a deal of this scale — already cleared or under review in the US and EU — will test whether the UK regulator is prepared to diverge again on a global media transaction, directly affecting competition lawyers advising the parties on parallel multi-jurisdictional clearance strategies. A Phase 2 referral would generate 24 weeks of intensive remedies work and set a significant precedent for how the CMA treats horizontal combinations in streaming and content markets.

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