Davis Polk & Wardwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the consumer sector for Q1–Q3 2022 by value and volume, respectively, according to the latest Legal Advisers League Table by GlobalData, which ranks legal advisers by the value and volume of M&A deals on which they advised.

Based on its Financial Deals Database, the leading data and analytics company has revealed that Davis Polk & Wardwell achieved its leading position by value by advising on $29.7 billion worth of deals. Meanwhile, Kirkland & Ellis led by volume by advising on a total of 42 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Kirkland & Ellis was the only firm to advise on more than 40 deals during Q1–Q3 2022 and didn’t face any major competition for the top position by volume. However, Davis Polk & Wardwell, which led by value, faced strong competition from Paul, Weiss, Rifkind, Wharton & Garrison, which missed the top spot by a whisker and settled for the second position by this metric.

“Interestingly, Paul, Weiss, Rifkind, Wharton & Garrison advised on a higher number of billion-dollar deals* compared to Davis Polk & Wardwell. While Paul, Weiss, Rifkind, Wharton & Garrison advised on six billion-dollar deals*, Davis Polk & Wardwell advised on four billion-dollar deals but one of these was a mega deal valued more than $10 billion, which made all the difference.”

An analysis of GlobalData’s Financial Deals Database reveals that Latham & Watkins occupied the third position by value, by advising on $25.8 billion worth of deals; followed by Skadden, Arps, Slate, Meagher & Flom, with $25.5 billion; and Simpson Thacher & Bartlett, with $18.9 billion.

Meanwhile, Latham & Watkins occupied the second position in terms of volume with 32 deals; followed by Jones Day, with 27 deals; White & Case, with 22 deals; and Skadden, Arps, Slate, Meagher & Flom, with 18 deals.

According to GlobalData’s report, ‘Global and Consumer M&A Report Legal Adviser League Tables Q1-Q3 2022’, a total of 2,946 M&A deals worth $176.8 billion were announced in the sector during Q1–Q3 2022.

* Valued more than or equal to $1 billion.