14 Apr 2020
Posted in Business Fundamentals
GlobalData reveals top 10 M&A legal advisers in Europe for coronavirus-hit Q1 2020
GlobalData has revealed the latest mergers and acquisitions (M&A) league table of the top ten legal advisers in Europe by value and volume for coronavirus-hit Q1 2020, which witnessed a decline in deal volume in the region.
Cleary Gottlieb Steen & Hamilton leads by value
Cleary Gottlieb Steen & Hamilton dominates the M&A legal advisers league table based on deal value in the first quarter of 2020, according to GlobalData, a leading data and analytics company.
The US-based law firm advised on 12 deals worth US$55.9bn in Q1 2020.
According to GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world to compile the league tables, confirmed that Latham & Watkins occupied the second position with 20 transactions worth US$48.1bn.
Aurojyoti Bose, Financial Deals Analyst at GlobalData, comments: “In terms of deal value, Cleary Gottlieb Steen & Hamilton emerged as the top legal adviser in Q1 2020 despite advising on a relatively smaller number of deals compared to its peers. This could be attributed to Cleary Gottlieb Steen & Hamilton advising on some big-ticket deals such as US$33.4bn Aon – Willis Towers Watson merger deal and US10.6bn Worldline’s acquisition of Ingenico Group.”
Cleary Gottlieb Steen & Hamilton, which topped the league table of M&A legal advisers in Europe, stood at seventh position in GlobalData’s recently released global league table of top 20 M&A financial advisers.
CMS tops by volume
CMS has secured number one position in the latest global M&A legal advisers league table based on deal volume in Q1 2020. The law firm advised on 41 deals worth US$0.8bn.
GlobalData revealed that Jones Day occupied the second position with 31 transactions worth US$0.8bn.
Aurojyoti Bose comments: “CMS held the top spot in terms of deal volume but lagged behind many of its peers in terms of deal value. Surprisingly, it did not even feature among the top ten advisors by value. Allen & Overy and Latham & Watkins were the only two among the top 10 advisors by volume to also appear in the list of top 10 advisors by value.”
Europe deals market in Q1 2020
The deal volume in Europe saw a decrease by 1.78% from 3,484 to 3,422 in the first quarter of 2020. However, on the back of some of high value transactions (such as US$33.4bn Aon – Willis Towers Watson merger deal and acquisition of ThyssenKrupp Elevator by consortium of Investors for US$18.7bn) deal value increased by 45.35% from US$134.4bn in the first quarter of 2019 to US$195.3bn in Q1 2020.