Introduction 

Taylor Wessing and Winston & Strawn become the latest firms to announce merger talks in the growing trend of “transatlantic tie-ups”. This comes only a month since Ashurst and Perkins Coie announced their proposed merger which followed from the other large US-UK mergers between Herbert Smith Freehills and Kramer Levin in June of this year, and Allen & Overy and Sherman & Sterling in 2024. 

Background to the Firms 

Taylor Wessing was formed in 2002 following the merger of Taylor Joynson Garrett and Wessing & Berenberg-Gossler. It has since become a thriving international law firm made up of more than 1,250 lawyers in 27 offices across 17 difference jurisdictions. The firm specialises in technology, media & communications, private wealth, real estate, infrastructure & energy, and life sciences & healthcare. As of 2024/25 the firm’s global revenue was recorded as £526.2 million with profit per equity partner standing at approximately £1.1 million.

Winston & Strawn is an American multinational law firm founded over 170 years ago by Frederick Hampden Winston. As of 2025 the firm has over 975 lawyers in 14 offices across Europe, North America and Latin America & Caribbean. The firms core sectors are similar to that of Taylor Wessing and include energy, infrastructure, financial services, healthcare, life sciences, and technology, media & communications. The firm’s revenue currently stands at around £930 million and its profit per equity partner reached £2.57 million. 

The proposed merger 

In a joint statement, Winston & Strawn and Taylor Wessing announced merger proposals, stating that a tie-up would “build upon the complementary strengths, shared ambitions and combined international reach of the two firms going forward”. 

If this merger went ahead, it would create a law firm of over 1,300 lawyers generating revenues of more than £1.2 billion. However, some reports state that this deal could trigger the break-up of Taylor Wessing’s European network with partnerships from the Netherlands, Belgium, Ireland and the Middle East joining the US merger; German and French operations are likely to become independent. 

Partners will vote next summer on whether to create this financially integrated firm, with completion expected in autumn 2026. 

Why are law firm mergers on the rise? 

Whilst there is not a definitive explanation for this increase in legal mergers, there are some important factors which could go to explaining these trends. 

Inevitably the difficult economic conditions since the start of the decade have seen interest rates and energy costs increase, along with things like professional indemnity insurance costs. It is clear, particularly for smaller firms, why merging seems like a viable option especially in the face of such financial issues. 

The impact of US firms on the UK has also played an important part in the UK’s mergers and acquisitions market. Partners at the top US law firms in London generated profits of approximately 25% more than partners at the top UK law firms. Therefore, where US law firms are outperforming UK firms financially it is understandable why firms end up merging with other UK firms to rival the US firms, or they themselves merge with a US firm. 

Where firms want to expand its geographic reach, it is more cost effective for them to merge with a firm already in that region as opposed to opening a new office from scratch. This strategy is also quicker with less risks involved, as is evident from CMS’s merger with the Swedish firm Wistrand in 2023 in order to expand its presence in Scandinavia. 

Market Reaction and Insider Response 

Many industry insiders have expressed their optimism about the latest merger, noting that Taylor Wessing and Winston & Strawn are “complementary” and “their cultures are aligned”. However, others have noted caution, framing the wave of mergers as “potentially troubling for the profession” and showing “a lack of confidence”. Another law firm highlighted some cultural challenges of a US-led merger and their own grievances towards a merger with a US firm.

Future Outlook 

It is still very early days, and Winston & Strawn have stated they will not be commenting further at this time. Therefore, it is difficult to make an informed judgement about the prosperity of this initiative, but it will be interesting to see how negotiations and merger talks unfold in the coming year and whether it does go ahead.