Allen & Overy is top legal adviser in retail sector by M&A deal value in Q1 2020

Allen & Overy is the top M&A legal adviser for the retail sector based on deal value in Q1 2020, having advised on four deals worth US$12.12bn, says GlobalData, a leading data and analytics company.

GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world, confirmed that Allen & Overy was closely followed by Freshfields Bruckhaus Deringer and Linklaters, with these two companies jointly occupying the second position with two deals worth US$12.1bn.

Aurojyoti Bose, Financial Deals Analyst at GlobalData, says: “These three firms were involved in two of the three billion-dollar deals (>=US$1bn) and outpaced the other firms by a huge margin. Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters were also involved in the US$10.6bn Charoen Pokphand Group’s acquisition of Tesco’s operations in Thailand and Malaysia.”

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Jones Day leads by volume

Meanwhille, Jones Day was the top legal adviser for the retail sector based on deal volume in Q1 2020. The firm advised on five deals worth US$139m. CMS occupied the second position with five transactions worth US$40m.

Bose adds: “Although Jones Day led in terms of volume, it lagged in terms of value. CMS also lagged in this area and did not feature among the top ten firms by value.”

Global retail deals market in Q1 2020

On the back COVID-19 outbreak, deal activity remained sluggish and the retail sector witnessed a decline of 9.71% in deal volume from 577 to 521. However, the deal value increased from US$20.2bn in Q1 2019 to US$30.2bn in Q1 2020.

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