Bingham McCutchen has entered into merger talks with Morgan Lewis & Bockius, with the firm's London office considering a split if a combination were to go ahead.

Based on 2013 revenues, a merger between Morgan Lewis and Bingham would create a top 10 international firm with revenues of $2bn (£1.2bn).

In 2012-13, Bingham posted a 12.6% drop in worldwide revenue to $762m (£458m), in the wake of a decline in US restructuring and securities litigation work.

Legal Week understands that the proposed tie-up has not received backing from Bingham's 23-partner City office.

The London base, widely known for having one of the premier restructuring practices in the market, is seen as one of the standout offices in the firm's international network, and accounted for $52.3m (£31.4m) in revenue in 2013.

Despite a 3% fall in revenue per lawyer, the London office still outperformed the rest of the firm on the metric by 14%, hitting $1.09m (£654,400).

Of the 23 London partners listed on Bingham's website, just two split their time between London and other offices in the firm's network: restructuring partner Christian Halasz and funds partner John Holton, who are listed as practising in the firm's Frankfurt and Boston bases respectively.

The office also numbers six counsels or of-counsels and 16 associates, as well as senior antitrust counsel Ted Henneberry, who splits his time between Washington and London.

Legal Week understands Bingham's London office is currently considering its options to move to another firm.

Meanwhile, the Philadelphia-founded Morgan Lewis counts 25 London-based partners, six of whom split their practice between the City and other offices, as well as 23 associates and one of counsel.

In 2012 the firm took on a team of litigation partners, led by Peter Sharp, from the London office of Dewey & LeBoeuf, shortly before the latter firm's collapse. Sharp went on to become London managing partner at Morgan Lewis.

In July, Reuters reported that Bingham had made overtures to a number of US outfits, seeking a merger. The firm was said to have approached Chicago-based Winston & Strawn, while previous merger proposals to O'Melveny & Myers and Morrison & Foerster had been rejected.

Both Bingham and Morgan Lewis declined to comment.