Allen & Overy and CMS were the top mergers and acquisitions (M&A) legal advisers in Europe in 2023 by value and volume, respectively according to the latest legal advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Deals Database reveals that Allen & Overy achieved its leading position in terms of value by advising on $72.7 billion worth of deals. Meanwhile, CMS led in terms of volume by advising on a total of 242 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “CMS was the clear winner by volume as it was the only firm that managed to advise on more than 200 deals during 2023. Meanwhile, Allen & Overy faced close competition from Freshfields Bruckhaus Deringer, which missed the top spot in terms of value by a whisker. It is noteworthy that Freshfields Bruckhaus Deringer was the top adviser by value in 2022. Both Allen & Overy and Freshfields Bruckhaus Deringer registered growth in total value of deals advised in 2023 but it was relatively higher for Allen & Overy, which helped it top the chart.”

Freshfields Bruckhaus Deringer occupied the second position in terms of value, by advising on $72.3 billion worth of deals, followed by Clifford Chance with $43.4 billion, Kirkland & Ellis with $39.1 billion and Linklaters with $34.6 billion.

Meanwhile, Allen & Overy occupied the second position in terms of volume with 137 deals, followed by White & Case with 129 deals, Baker McKenzie with 123 deals and Clifford Chance with 98 deals.