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Herbert Smith Freehills is to combine with US-based Kramer Levin to form one of the top 20 global law firms by headcount, in a further sign of consolidation among mid-sized firms on either side of the Atlantic.

The new firm, which is to be known as Herbert Smith Freehills Kramer, abbreviated as HSF Kramer in the US, and will have over 2,700 lawyers across 25 offices in America, the UK, Europe and Asia.

The move by HSF comes amid a wave of mergers in the legal sector, most notably UK “magic circle” firm Allen & Overy’s decision last year to join forces with the ailing Shearman & Sterling in the US.