Kirkland & Ellis and Latham & Watkins were the top mergers and acquisitions (M&A) legal advisers in the retail sector during the first three quarters (Q1-Q3) of 2025 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 Financial Deals Database revealed that Kirkland & Ellis achieved its leading position in terms of value by advising on $33.3 billion worth of deals. Meanwhile, Latham & Watkins led in terms of volume by advising on a total of 12 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “There was an improvement in the total volume of deals advised by Latham & Watkins during Q1-Q3 2025 compared to Q1-Q3 2024. Its ranking by volume also improved from the 19^th position to the top position. Latham & Watkins also held the ninth position by value during Q1-Q3 2025.

“Meanwhile, Kirkland & Ellis registered a massive jump in the total value of deals advised by it during Q1-Q3 2025 compared to Q1-Q3 2024, driven primarily by its involvement in $23.7 billion deal for the acquisition of Walgreens Boots Alliance by Sycamore Partners. Resultantly, it went ahead from occupying the 22^nd position by value during Q1-Q3 2024 to top the chart by this metric during Q1-Q3 2025.”

Ropes & Gray occupied the second position in terms of value, by advising on $32.3 billion worth of deals, followed by Skadden, Arps, Slate, Meagher & Flom with $26.2 billion, Davis Polk & Wardwell with $24.9 billion, and Hengeler Mueller with $23.7 billion.

Meanwhile, CMS occupied the second position in terms of volume with 10 deals, followed by Kirkland & Ellis with eight deals, Paul, Weiss, Rifkind, Wharton & Garrison with eight deals, and Jones Day with eight deals.