Allen & Overy and O’Melveny called off their planned merger. The deal reportedly collapsed because O'Melveny's partners wanted more money, and Allen & Overy decided to walk away.
Allen & Overy is known to overpay for American lawyers, as they are trying to grow their presence here. For example, a report came out five years ago claiming that they lost £250 million on their United States operations as part of this growth effort. So it's curious to see them say no. There may have been other issues.
omm, omelveny, mergers and acquisitions