26 Oct 2021
Posted in Business Fundamentals
Sullivan & Cromwell and Kirkland & Ellis were top M&A legal advisers by value and volume in construction sector for Q1-Q3 2021, finds GlobalData
Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the construction sector for Q1-Q3 2021 by value and volume, respectively, according to GlobalData’s Financial Deals Database. The leading data and analytics company notes that Sullivan & Cromwell advised on 12 deals worth $61.1bn, which was the highest value among all the advisers, while Kirkland & Ellis led in volume terms having advised on 34 deals worth $28.1bn. A total of 3,001 M&A deals were announced in the sector during Q1-Q3 2021.
According to GlobalData’s report, ‘Global and Construction M&A Review and Legal Adviser League tables’, deal value for the sector increased by 135.6% from $180bn during Q1-Q3 2020 to $424bn during Q1-Q3 2021.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Sullivan & Cromwell was the only firm that managed to cross the US$50bn mark, while Kirkland & Ellis was also the only firm to advise on more than 30 deals. However, Kirkland & Ellis lagged in terms of value due to its involvement in low-value transactions and had to settle for the tenth position by value. Interestingly, Sullivan & Cromwell lagged in terms of volume and also had to settle for the tenth position by volume.”
Freshfields Bruckhaus Deringer occupied the second position in terms of value with seven deals worth $47bn, followed by Cravath Swaine & Moore with five deals worth $43.8bn, Latham & Watkins with 25 deals worth $39.9bn and Skadden, Arps, Slate, Meagher & Flom with 11 deals worth $38.2bn.
Latham & Watkins occupied the second position in terms of volume, followed by CMS with 22 deals worth $1.8bn, Advokatfirman Vinge with 19 deals worth $9.1bn and Simpson Thacher & Bartlett with 18 deals worth $34.5bn.