The "law firm fusionitis" of the noughties is long gone.
When commercial law firms talk about a merger today, cost savings in IT and office real estate and access to new markets are at the top of the agenda.
In the case of Shearman & Sterling and Hogan Lovells' tender flirtation, it could be all about New York and the decline in importance that Wall Street law firm Shearman has had to accept in recent years.
The US law firm continues to be highly profitable in its home market.
But the local competition is just waiting for a moment of weakness, and growth in Shearman's comparatively small network will eventually be exhausted.
Hogan Lovells, on the other hand, offers ample resources and international industry contacts.
The potential merger partner, in turn, finally wants to show more presence in New York.
Access to the economic center of the Western world is particularly fiercely contested among lawyers.
A merger could open many doors for Hogan Lovells there.
After a thorough examination, the bride show could prove to be a "perfect fit" for both sides.