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 City AM .

With footholds in both London and the United States, certain law firms are striving t

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