27 Apr 2020
Posted in Banking
Top ten global M&A legal advisers in financial services sector in Q1 2020
Skadden Arps Slate Meagher & Flom has dominated the mergers and acquisitions (M&A) legal advisers league table based on deal value in Q1 2020, based on a total advised deal value of US$66.49bn. However, in deal volume terms, the firm settled at fourth position with nine deals.
GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world, confirmed that Latham & Watkins finished at second position with ten deals, worth US$57.05bn, and Cleary Gottlieb Steen & Hamilton achieved third position with six deals worth US$47.7bn.
Ravi Tokala, Financial Deals Analyst at GlobalData, says: “With involvement in multiple megadeals (>$10bn), Skadden Arps Slate Meagher & Flom and Latham & Watkins were the only two legal advisors that managed to surpass the US$50bn mark. However, almost all of the top legal advisers could not cross 15 transactions mark during the coronavirus-hit Q1 2020, which saw a decline in M&A activity compared with corresponding period of 2019.”
Kirkland & Ellis leads by volume
Kirkland & Ellis has secured number one position in the latest global M&A legal advisers league table for the financial services sector based on deal volume in Q1 2020. The US-based law firm advised on 15 deals worth US$9bn.
Sullivan & Cromwell occupied the second position with 11 transactions worth US$19.59bn, followed by Latham & Watkins with ten deals worth $57.05bn.
Ravi Tokala comments: “Arthur Cox and Matheson, on the strength a single deal comprising Aon’s merger with Willis Towers Watson, shared the seventh position in terms of value. Despite advising 15 transactions, Kirkland & Ellis, which topped in volume terms, did not find a place in terms of value due to its involvement in low-value deals.”
Kirkland & Ellis, which topped the financial services sector league table, also stood at first position in the recently released global league table of top 20 M&A legal advisers by GlobalData.