Allen & Overy and CMS were the top M&A legal advisers in Europe for Q1 2022 by value and volume, respectively, according to the latest Legal Advisers League Table by GlobalData. The leading data and analytics company’s Financial Deals Database reveals that Allen & Overy achieved top ranking by value by advising on 42 deals worth $18.4 billion. Meanwhile, CMS led by volume, having advised on 83 deals worth $2.5 billion.

According to GlobalData’s report, ‘Global and Europe M&A Report Legal Adviser League Tables Q1 2022’, there was a total of 2,780 M&A deals announced in the region during Q1 2022. Deal value for the region decreased by 53.8%, from $304.3 billion in Q1 2021 to $140.5 billion in Q1 2022.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Allen & Overy and CMS outpaced their peers by a significant margin in terms of value and volume, respectively. While CMS was the only firm that managed to advise on more than 80 deals during Q1 2022, Allen & Overy was also the only firm that was just shy of the $20 billion mark.

“While Allen & Overy managed to occupy the second position by volume, CMS did not feature in the list of top 10 advisors by value due to its involvement in low-value transactions. Allen & Overy advised on five billion-dollar deals*, however, CMS was unable to advise on any such deal.”

An analysis of GlobalData’s Financial Deals Database shows that other high rankers by value were Clifford Chance, with 26 deals worth $12.8 billion; followed by Wistrand Advokatbyra Stockholm Komma, with one deal worth $12.5 billion; Kirkland & Ellis, with 11 deals worth $12 billion and DLA Piper, with 26 deals worth $9.7 billion. Meanwhile, Baker McKenzie occupied the third position by volume, with 35 deals worth $2.5 billion; followed by Orrick, Herrington & Sutcliffe, with 28 deals worth $2.5 billion and Clifford Chance, which occupied the fifth position by volume.

* Valued more than or equal to $1 billion