With six months of deals behind us, it's worth pulling together what the market has taught. This is general guidance drawn from the deals above, not advice for a specific transaction.

For sellers:

- Know what you want. Cash, succession, platform, brand or independence? The answer shapes which buyer is right.

- Understand the structure. Partners voted on the Winston Taylor deal, and the Taylor Wessing Netherlands and Belgium offices joined while Germany stayed outside. Check who is actually in scope.

- Read the retention terms. Deferred consideration and earn-outs, as seen in listed-acquirer deals, tie you to the buyer's performance.

- Prepare for diligence. Buyers will examine client concentration, professional indemnity history, regulatory record and technology contracts.

For buyers:

- Integration is the product. Ashurst Perkins Coie and Hogan Lovells Cadwalader are now the test case for whether big mergers deliver. Plan for systems, pay, conflicts and brand from day one.

- Keep the people. The partners and clients are what you are buying.

- Decide your AI stance early. Pick platforms, set policies and budget for training.

For both:

- Check conflicts and regulatory approvals early, especially when crossing borders.

- Take specialist advice. Deals involving external investment, cross-border partnerships and regulated entities have traps for the unwary.

Looking ahead, rumours like the denied Linklaters story suggest that more transatlantic combinations are being considered, and PE-backed consolidators show no sign of stopping in the UK mid-market. Meanwhile, AI platforms are consolidating on their own. Whatever happens next, the buyers and sellers who plan around people, structure and technology are likely to do better than those who focus only on size.