Fasken Martineau DuMoulin was the top mergers and acquisitions (M&A) legal adviser in the metals and mining sector during the first quarter (Q1) of 2023 by volume while Herbert Smith Freehills and White & Case jointly held the top position by value, according to the latest legal advisers league table by GlobalData, a leading data and analytics company.

An analysis of GlobalData’s Financial Deals Database reveals that Fasken Martineau DuMoulin achieved the top position in terms of volume by advising on a total of eight deals. Meanwhile, Herbert Smith Freehills and White & Case shared the leading position by value, with each advising on $16.9 billion worth of deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Although Fasken Martineau DuMoulin led by volume but lagged in terms of value. It did not feature among the top 10 by value due to the involvement in low-value transactions.

“Meanwhile, Herbert Smith Freehills, despite advising on one-fourth of the number of deals advised by Fasken Martineau DuMoulin, managed to top by value due to the involvement in big-ticket deals. The average size of deals advised by Herbert Smith Freehills stood at $8.4 billion, which is much higher compared to Fasken Martineau DuMoulin’s average deal size of $6.6 million.”

King & Wood Mallesons occupied the third position in terms of value, by advising on $16.9 billion worth of deals, followed by Allens with $3.6 billion, and Skadden, Arps, Slate, Meagher & Flom with $1.4 billion.

Meanwhile, Cassels Brock & Blackwell occupied the second position in terms of volume with five deals, followed by Bennett Jones with four deals. Herbert Smith Freehills jointly occupied the fourth position in terms of volume by advising on two deals each.