Ashurst Perkins Coie to Forge £2 Billion Pound Transatlantic Legal Powerhouse

A landmark merger between British law firm Ashurst and the US-based Perkins Coie will create a transatlantic legal giant with annual revenues projected at 2.7 billion dollars or 2 billion pounds. The newly formed entity, Ashurst Perkins Coie, is expected to secure a place among the global elite, ranking within the top twenty largest law firms by size.

This historic tie-up arrives shortly after a period of turbulence for Perkins Coie, which faced significant pressure from a March executive order signed by Donald Trump. The order prohibited Perkins Coie from undertaking any work for the US government, citing the firm’s role in preparing the controversial Steele dossier during the 2016 US presidential election. The dossier, which alleged connections between Trump’s campaign and Russian government interests, became a flashpoint in American political discourse, though the FBI did not substantiate its claims.

The executive order accused Perkins Coie of fabricating evidence to interfere with the presidential election, referencing a one million dollar payment to research firm Fusion GPS. The order threatened to strip nearly a quarter of Perkins Coie’s revenue by jeopardising federal contracts for its clients. Trump also claimed the firm represented activist donors, including George Soros, in efforts to overturn legislative outcomes through judicial means.

The move was widely construed as a warning to law firms serving Trump’s political opponents. Perkins Coie labelled the action as an unlawful infringement upon the right to select counsel, condemning it as an attack on the foundations of the legal profession. In May, federal judge Beryl Howell ruled the ban unconstitutional and unlawful, invoking Shakespeare’s observation on attacks upon lawyers to underscore the point. The Trump administration is currently appealing this decision.

Discussions between Ashurst and Perkins Coie regarding a merger reportedly predated the executive order. Nevertheless, the episode underscored the rising political risks for cross-border legal services providers, with regulatory and reputational risks becoming ever more prominent.

Bill Malley, managing director of Perkins Coie, said the combination will enable the new firm to serve clients confronting complex global challenges. The merged Ashurst Perkins Coie is set to redefine the contours of the international legal market, promising access to seamless and trusted advice on both sides of the Atlantic.