27 Oct 2021
Posted in Business Fundamentals
Weil Gotshal & Manges and Watson Farley & Williams were top M&A legal advisers by value and volume in power sector for Q1-Q3 2021, finds GlobalData
Weil Gotshal & Manges and Watson Farley & Williams have been found by GlobalData to be the top mergers and acquisitions (M&A) legal advisers in the power sector for Q1-Q3 2021 by value and volume, respectively. The leading data and analytics company’s Financial Deals Database reveals that Weil Gotshal & Manges advised on nine deals worth $31.2bn – the highest value among all the advisers tracked. Meanwhile, Watson Farley & Williams led in terms of volume, having advised on 31 deals worth $817m. A total of 1,737 M&A deals were announced in the sector during Q1-Q3 2021.
According to GlobalData’s report, ‘Global and Power M&A Report Legal Adviser League Tables Q1-Q3 2021’, deal value for the power sector increased by 79.4% from $170bn during Q1-Q3 2020 to $305bn in during Q1-Q3 2021.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Watson Farley & Williams was the only firm to advise on more than 30 deals. However, it significantly lagged behind its peers in terms of deal value, and did not find a place among the top ten advisors by deal value.
“In contrast, Sullivan & Cromwell, which advised on fewer but larger-value deals, was the only adviser to surpass the $30bn mark in terms of total deal value. Interestingly, it also did not find a place among the top ten advisors by volume.”
Cleary Gottlieb Steen & Hamilton occupied the second position in terms of value, with 11 deals worth $28.5bn, followed by Davis Polk & Wardwell, with five deals worth $27.1bn, Sullivan & Cromwell, with six deals worth $25.8bn, and Skadden, Arps, Slate, Meagher & Flom, with 14 deals worth $25.5bn.
White & Case occupied the second position in terms of volume, with 28 deals worth $11.5bn, followed by Allen & Overy, with 26 deals worth $11.4bn, Kirkland & Ellis, with 24 deals worth $16.3bn, and CMS, with 24 deals worth $1.8bn.