The lull from Big Law during the first part of the year is likely just that, according to Sally King, managing director at management consultancy the Alexander Group. Several major deals were announced during the final quarter of 2025, and it’s likely that the sector is simply taking a breath — and engaging in ongoing talks — and will resume activity as the year unfolds, King said. The slowdown comes after a spate of blockbuster deals at the end of last year. Those included the massive combinations announced in the fourth quarter between Ashurst LLP and Perkins Coie LLP,Taylor Wessing LLP and Winston & Strawn LLP, and between Hogan Lovells and Cadwalader Wickersham & Taft LLP, as well as the deal between McDermott Will & Emery and Schulte Roth announced in the second quarter of 2025.Some larger law firms are weighing the benefits of adding strategic lateral groups, versus taking the leap to acquire entire law firms, King said. “I think in general, larger firms have the capacity and bandwidth and the dollars to be able to invest more strategically,” she said. “That said, if an opportunity falls into their lap, then I think they’re going to seize it.”