Skadden, Arps, Slate, Meagher & Flom and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the financial services sector during 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.

Based on its Deals Database, the leading data and analytics company reveals that Skadden, Arps, Slate, Meagher & Flom achieved its leading position in terms of value by advising on $27.2 billion worth of deals. Meanwhile, Kirkland & Ellis led in terms of volume by advising on a total of 49 deals.

Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Due to involvement in high-value transactions, the total value of deals advised by Skadden, Arps, Slate, Meagher & Flom jumped significantly in 2023 compared to the previous year. Resultantly, its ranking by value also took a major leap from the 47^th position in 2022 to the top position in 2023. Skadden, Arps, Slate, Meagher & Flom advised on seven billion-dollar deals* that also included one mega deal valued more than $10 billion.

“Meanwhile, Kirkland & Ellis fell short of just one deal to touch the 50 deals volume mark in 2023. Interestingly, Skadden, Arps, Slate, Meagher & Flom, apart from leading by value, also gave stiff competition to Kirkland & Ellis for the top position by volume.”

An analysis of GlobalData’s Deals Database reveals that Skadden, Arps, Slate, Meagher & Flom occupied the second position in terms of volume with 45 deals, followed by Alston & Bird with 36 deals, CMS with 26 deals, and Giordano Halleran & Ciesla with 26 deals.

Meanwhile, Cravath Swaine & Moore occupied the second position in terms of value, by advising on $22.6 billion worth of deals, followed by Debevoise & Plimpton with $20.6 billion, Paul, Weiss, Rifkind, Wharton & Garrison with $16.8 billion, and Simpson Thacher & Bartlett with $16.6 billion.

*Deals valued more than or equal to $1 billion