Ashurst and Perkins Coie Merge to Form $2.7 Billion Global Law Firm Ashurst Perkins Coie

On 17 November 2025, two legal giants — Ashurst LLP, the London-based international firm, and Perkins Coie LLP, the Seattle powerhouse — announced they were joining forces to create Ashurst Perkins Coie, a $2.7 billion revenue law firm with 52 offices across 23 countries. The new entity, set to become the 18th-largest law firm globally by revenue, isn’t just a merger. It’s the culmination of a 20-year quest for Ashurst to crack the U.S. market — and a strategic pivot for Perkins Coie to expand its global footprint beyond its tech and litigation stronghold. The announcement, made simultaneously from London and Seattle, came with a twist: the deal nearly collapsed after former President Donald Trump’s March 2025 executive order targeted Perkins Coie for its work representing Hillary Clinton in 2016. But a federal judge blocked it. And the merger lived to tell the tale.

The Deal That Almost Didn’t Happen

Merger talks began quietly in February 2025, according to the Financial Times. By March, they hit a wall. Trump’s Executive Order 14123 threatened to strip Perkins Coie of federal contracts, citing its political representation as grounds for punishment. The firm’s leadership didn’t blink. Neither did Ashurst’s. Legal teams on both sides knew the order was legally untenable — and on 28 April 2025, U.S. District Judge Emmet G. Sullivan agreed, issuing a preliminary injunction that called the order a violation of the First Amendment. "It wasn’t just about contracts," said one senior partner familiar with the talks. "It was about principle. We weren’t going to let politics dictate our future." The timing was eerie. Just 18 months earlier, A&O Shearman had merged in a $2.3 billion deal. Then, in January 2025, Herbert Smith Freehills swallowed Kramer Levin Naftalis & Frankel LLP for $1.9 billion. Now, Ashurst Perkins Coie joins that elite tier — a sign the legal world is reshaping itself, not just growing.

Who’s Leading the New Giant?

The leadership structure is as unusual as the merger itself. Paul Jenkins, former Senior Partner at Ashurst, and Bill Malley, former Managing Partner at Perkins Coie, will serve as co-CEOs — a rare dual-helix model in global law firms. Jenkins, based in London, will oversee Europe, the Middle East, and Asia. Malley, rooted in Seattle, will run the Americas. It’s not just geography — it’s culture. Ashurst brings corporate and finance muscle. Perkins Coie brings litigation depth and tech-sector dominance. Together, they cover everything from blockchain IPOs to antitrust battles in Silicon Valley. The firm will have 5,200 lawyers and 8,500 total employees. That’s more than the population of many U.S. towns. And it’s not just about scale. The combined entity will operate from key financial hubs: New York City, Hong Kong, Singapore, Sydney, and Tokyo. Dual headquarters in London and Seattle aren’t symbolic — they’re operational. Each office has its own governance, but shared tech, compliance, and client systems.

Why This Matters to Clients and Lawyers

For corporate clients, this means one firm can handle a cross-border acquisition, a patent dispute in California, and a regulatory probe in Brussels — all under one roof. For lawyers, it’s a career accelerator. But there’s friction. Fifteen non-equity partners in overlapping practices in New York City and London may shift to of counsel roles by the end of 2026. No equity partners are leaving — yet. But the integration of two very different cultures won’t be smooth. Ashurst’s more centralized structure clashes with Perkins Coie’s partner-driven autonomy. "We didn’t merge to become the same," said Jenkins in a rare internal memo. "We merged to become better. That means keeping what works — and fixing what doesn’t." PricewaterhouseCoopers LLP completed its due diligence on 15 November 2025, confirming the $2.7 billion revenue projection. The firm’s balance sheet shows zero debt. Profit per partner is expected to rise 12% by 2027.

A History of Near-Misses

Ashurst’s U.S. ambitions date back to 2003, when talks with Latham & Watkins collapsed over partnership equity. In 2007, a deal with Fried, Frank, Harris, Shriver & Jacobson LLP fell apart after cultural clashes — Ashurst wanted hierarchy; Fried Frank wanted democracy. This time, they learned. They spent 18 months on cultural mapping. They held joint town halls. They even created a "Values Alignment Task Force" with rotating members from both firms. "This isn’t a takeover," said Malley. "It’s a marriage. And marriages take work."

What’s Next?

The merger still needs approval from antitrust regulators in the U.S., U.K., European Union, and Australia. Completion is expected between 1 April and 30 June 2026. If cleared, Ashurst Perkins Coie will be the third major transatlantic merger in 18 months — and likely not the last. Analysts say firms like Skadden, Arps, Slate, Meagher & Flom LLP and Morrison & Foerster LLP are now under pressure to respond. The legal world is no longer just about who you know. It’s about who you can reach — across time zones, legal systems, and political storms. This merger didn’t just create a bigger firm. It proved that even in a fractured world, law can still be a bridge.