After a blockbuster year for law firm combinations in 2025, the merger chatter in Biglaw isn’t slowing down anytime soon. If anything, more firm leaders are saying the quiet part out loud: they’re open to deals, or at least open to talking about them.
In interviews with the American Lawyer, leaders from several Am Law firms — including McGuireWoods, Nixon Peabody, Ballard Spahr, Shook Hardy & Bacon, and Miles & Stockbridge — all suggested that if the right opportunity came along, they’d be willing to consider a merger.
No one is announcing a tie-up tomorrow. But the tone is noticeably different from the old days, when even acknowledging merger conversations could feel like admitting weakness. These days, being “open to growth” has become the standard diplomatic phrasing, a polite way of saying the firm would absolutely take the call. And according to some leaders, the calls are already coming in.
Madeleine McDonough, chair of Shook Hardy & Bacon, said the firm gets regular outreach from potential partners and is willing to consider a range of possibilities, from acquisitions to mergers of equals to even combinations with larger firms. Nothing is currently in the works, she stressed, but the door isn’t closed.
Other firms struck a similar tone. Nixon Peabody’s CEO and managing partner Stephen Zubiago emphasized that culture and talent would matter more than geography or size when considering a deal. Ballard Spahr chair Peter Michaud pointed to the firm’s past combinations as successes and said he’d welcome another if the right opportunity presented itself.
Not every firm is shopping, of course… at least not right now. Here’s more from Am Law:
Akin Gump Strauss Hauer & Feld co-chair Abid Qureshi said his firm, ranked No. 38, is “not exploring any merger opportunities,” and that they are “very focused on continued organic growth.”
Gunderson Dettmer, No. 104, also said it doesn’t anticipate being the focus of merger activity in 2026, with global managing partner Jeffrey Higgins telling American Lawyer that while other firms have “sought us out quite a bit” in the past, a combination is “not on our radar” at the moment.
Law.com reported on Baker Botts engaging in merger talks in 2023. But Baker Botts managing partner Danny David said this year that “merger is never a strategy” for the firm, which is ranked No. 67.
Now, however, that even these firms tend to stop short of ruling anything out completely. Because in today’s Biglaw market, saying you’re not open to a merger can sound a lot like saying you’re comfortable getting left behind.
With more firms openly acknowledging that they’re willing to at least have the conversation, the industry may be heading toward exactly what some leaders predict: one of the most transformative consolidation cycles the legal profession has seen in decades.
More Big Law Leaders, ‘Open to Growth,’ Are Willing to Consider Mergers [American Lawyer]
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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