30 Oct 2020
Posted in Business Fundamentals
Kirkland, Latham top M&A legal advisers by value, volume in retail sector during Q1-Q3 2020, reveals GlobalData
Kirkland & Ellis and Latham & Watkins have emerged as the top mergers and acquisitions (M&A) legal advisers by value and volume, respectively, in the retail sector during Q1-Q3 2020. A total of 889 M&A deals were announced in the retail sector during the period, according to GlobalData, a leading data and analytics company.
According to GlobalData’s ‘Global and Retail M&A Report Legal Adviser League Tables Q1-Q3 2020’, there was a 58.6% decrease over the 2,146 deals that were announced during Q1–Q3 2019. Deal value also witnessed a year-on-year decrease of 67.3% from US$189bn to US$62bn.
Kirkland & Ellis bagged top spot in terms of deal value by advising on nine deals worth US$16.6bn, which was the highest value among all the advisers. Meanwhile, Latham & Watkins led in volume terms having advised on 11 deals worth US$4.6bn.
Aurojyoti Bose, Lead Analyst at GlobalData comments: “Latham & Watkins was the only adviser to showcase double-digit deal volume and billion-dollars in deal value. However, due to the involvement in relatively low value transactions, it lost the top position in terms of value to Kirkland & Ellis.
“Kirkland & Ellis advised on three billion-dollar deals (greater than or equal to US$1bn) while Latham & Watkins managed to advise on two billion-dollar deals.”
Freshfields Bruckhaus Deringer also advised on the same number of deals advised by Kirkland & Ellis but occupied the second position by value. It was followed by Allen & Overy with seven deals worth US$10.8bn and Linklaters with four deals worth US$10.6bn.
Jones Day occupied the second position by volume with 11 deals worth US$0.8bn, followed by CMS with 10 deals worth US$0.8bn.