A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
A&O Shearman is advising Santander on the acquisition of 100% of TSB Banking Group plc (TSB) from Banco Sabadell, announced on July 1, 2025 by both banks...
United Kingdom
A&O Shearman is advising Santander on the acquisition of
100% of TSB Banking Group plc (TSB) from Banco Sabadell, announced
on July 1, 2025 by both banks, with a valuation of GBP2.65 billion
(approximately EUR3.1bn) in an all-cash transaction.
The acquisition further strengthens Santander's position in
one of its core markets, expanding its customer base and lending
capacity across the UK. Santander UK would become the third largest
bank in the country by personal current account balances and number
four in mortgages.
When combined, the two banks would serve nearly 28 million
retail and business customers nationwide, giving TSB customers
access to Santander's international network and allowing them
to benefit from the group's leading technology platforms.
The transaction remains subject to regulatory approvals and
Sabadell shareholder approval. Completion of the transaction is
expected to occur in the first quarter of 2026.
A&O Shearman was formed in 2024 via the merger of two historic firms, Allen & Overy and Shearman & Sterling. With nearly 4,000 lawyers globally, we are equally fluent in English law, U.S. law and the laws of the world’s most dynamic markets.
This combination creates a new kind of law firm, one built to achieve unparalleled outcomes for our clients on their most complex, multijurisdictional matters – everywhere in the world. A firm that advises at the forefront of the forces changing the current of global business and that is unrivalled in its global strength.
Our clients benefit from the collective experience of teams who work with many of the world’s most influential companies and institutions, and have a history of precedent-setting innovations.
Together our lawyers advise more than a third of NYSE-listed businesses, a fifth of the NASDAQ and a notable proportion of the London Stock Exchange, the Euronext, Euronext Paris and the Tokyo and Hong Kong Stock Exchanges.
