30 Jul 2020
Posted in Business Fundamentals
Allen & Overy and Watson Farley & Williams were top legal advisers by value and volume in global power sector in H1 2020, says GlobalData
Allen & Overy and Watson Farley & Williams were noted to be the top mergers and acquisitions (M&A) legal advisers in the global power sector in the first half (H1) of 2020, based on deal value and volume, respectively. Allen & Overy advised on 11 deals worth US$8.4bn, which was the highest among all the advisers. Meanwhile, Watson Farley & Williams led in volume terms having advised on 17 deals worth US$3.7bn during H1, according to GlobalData, a leading data and analytics company.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “Watson Farley & Williams held the top spot in terms of deal volume but lagged behind many of its peers in terms of value. Surprisingly, it did not feature among the top ten by value – even though firms such as Wachtell Lipton Rosen & Katz (which only advised on one deal) were able to make to the list.
“Involvement in big-ticket deals remains the key, helping Allen & Overy gain top place by value. The average deal size of transactions advised by Allen & Overy stood at US$767.9m whereas Watson Farley & Williams saw only US$218.9m.”
Simpson Thacher & Bartlett occupied the second position by value with four deals worth US$6.7bn followed by Slaughter and May with three deals worth US$6.4bn. Baker McKenzie occupied the second position by volume with 14 deals worth US$4.9bn followed by Linklaters with 12 deals worth US$5.7bn.
The number of deals announced in the global power sector decreased by 30.5% from 1,345 in H1 2019 to 935 in H1 2020, according to GlobalData’s Financial Deals Database. Deal value also decreased by 19.9% from US$109.4bn in H1 2019 to US$87.6bn in H1 2020.
Allen & Overy, which topped the power sector deals league table by value, stood at 7th position (by value) in the recently released global league table of top 20 M&A legal advisers by GlobalData.