Freshfields Bruckhaus Deringer and CMS were the top mergers and acquisitions (M&A) legal advisers in the European region during the first three quarters (Q1-Q3) of 2023 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.

An analysis of GlobalData’s Financial Deals Database reveals that Freshfields Bruckhaus Deringer achieved the leading position in terms of value by advising on $49.7 billion worth of deals. Meanwhile, CMS led in terms of value by advising on a total of 166 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “CMS was the top adviser by volume during Q1-Q3 2022 and was able to retain its leadership position by this metric during Q1-Q3 2023 as well. It was the only adviser with triple-digit deal volume during Q1-Q3 2023.

“Meanwhile, Freshfields Bruckhaus Deringer fell short of only around $300 million from touching the $50 billion mark in total deal value during Q1-Q3 2023. It advised on nine billion-dollar deals* during Q1-Q3 2023 that also included one mega deal valued more than $10 billion. Involvement in such big-ticket deals helped Freshfields Bruckhaus Deringer top the chart by value.”

Allen & Overy occupied the second position in terms of value, by advising on $37.6 billion worth of deals, followed by Kirkland & Ellis with $35.1 billion, Linklaters with $27.7 billion, and Latham & Watkins with $24 billion.

Meanwhile, White & Case occupied the second position in terms of volume with 98 deals, followed by Allen & Overy with 87 deals, Baker McKenzie with 83 deals, and Clifford Chance with 60 deals.

*Deals valued more than or equal to $1 billion.