Ashurst and Australian ally to vote on full merger
Ashurst, along with those at legacy Australian firm Blake Dawson - now known as Ashurst Australia - are set to take a vote on full financial integration between the firms in October.
A full merger between the firms will require the approval of at least 75% of both partnerships when it goes to the vote in October. If it goes ahead, the merger will create a single partnership with a global profit pool and a lockstep remuneration system.
The firms formed their alliance in 2011, with a commitment to move toward full financial integration subject to revenue and profitability targets being met. At the time of the deal, average partner profits at Blakes were around 90% of those at Ashurst.
After a long integration process, commentators say that the vote is a mere formality.