03 Nov 2020
Posted in Business Fundamentals
Sullivan & Cromwell and Kirkland & Ellis were top M&A legal advisers by value and volume in automotive sector for Q1-Q3 2020
Sullivan & Cromwell and White & Case were the top mergers and acquisitions (M&A) legal advisers in the construction sector for Q1-Q3 2020 by value and volume, respectively. A total of 2,118 M&A deals were announced in the construction sector during the period, according to GlobalData, a leading data and analytics company.
According to GlobalData’s M&A report, ‘Global and Construction M&A Report Legal Adviser League Tables Q1-Q3 2020’, there was a 21.5% decrease over 2,697 deals that were announced during Q1-Q3 2019. Deal value also decreased by 51.4% from $320bn in Q1-Q3 2019 to US$156bn in Q1-Q3 2020.
In GlobalData’s ranking, Sullivan & Cromwell secured the top position in terms of deal value by advising on five deals worth $26.5bn, which was the highest value among all the advisers. Meanwhile, White & Case led in volume terms having advised on 16 deals worth $21.8bn.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Most of the top ten advisers by value showcased deal value higher than US$20bn and competition for the top position was intense. Sullivan & Cromwell advised on three billion-dollar deals worth greater than or equal to $1bn, out of which one was a megadeal worth greater than or equal to $10bn, which helped the firm top the list by value.
“While Sullivan & Cromwell did not appear among the top ten advisers by volume, White & Case, that led in terms of number of deals, also managed to occupy the fifth position by value.”
Kirkland & Ellis occupied the second position by value with 12 deals worth $25.7bn, followed by Cleary Gottlieb Steen & Hamilton with four deals worth $25bn and Freshfields Bruckhaus Deringer with seven deals worth $22.3bn.
Latham & Watkins occupied the second position by volume with 14 deals worth $8.5bn, followed by Jones Day with 14 deals worth $0.8bn.