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British law firm Ashurst has finalised a merger with American practice Perkins Coie, marking the latest in a wave of major transatlantic consolidations within the legal industry.

Following days of speculation regarding Ashurst's merger discussions, the firm has struck an agreement with Seattle-based Perkins Coie to form a $2.7bn legal practice, which will operate under the name Ashurst Perkins Coie.

The momentum behind substantial transatlantic mergers in the legal sector has accelerated over the past year, particularly after the A&O Shearman deal. Subsequently, Herbert Smith Freehills and Kramer Levin have also joined forces to establish multi-billion-dollar practices, as reported by .

With footholds in both London and the United States, certain law firms are striving to achieve 'Global Elite' status, alongside practices such as Kirkland & Ellis, the world's highest-grossing and most profitable law firm, which generated nearly $9bn in 2024.

Bill Malley, the managing partner of Perkins Coie, said: "Today, our clients face challenges and opportunities that are not only global but also increasingly complex. To meet this moment, we must strengthen our ability to deliver trusted legal guidance seamlessly across borders."

Paul Jenkins, chief executive of Ashurst, added: "Our ambition for many years has been to grow in the U.S. with the right partner: a firm with deep, trusted expertise that complements our own."

Ashurst Perkins Coie will employ over 3,000 lawyers spanning 23 countries, with 'flagship hubs' in Seattle, London, Sydney and New York, rather than a single overall headquarters. Ashurst Perkins Coie will be jointly helmed by Malley and Jenkins as global co-CEOs.

Karen Davies of Ashurst and Brian Eiting of Perkins Coie will serve as co-chairs of the merged entity, while Mark Birnbaum, the current chair of Perkins Coie's executive committee, whose term ordinarily concludes at the end of 2025, will maintain his role until the merger is finalised.