A&O Shearman has filed its first set of accounts as a merged firm, shedding light on the financial implications of the tie-up, including a sharp hike in partner capital contributions and a near-£200m pension deficit.
The LLP accounts – which cover the 12 months after legacy Allen & Overy and Shearman & Sterling’s transatlantic union went live on 1 May 2024 – include specific details about Shearman’s pension deficit, a factor widely cited as a stumbling block in the US firm’s attempts to get a merger through.
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