Tuesday, July 3, 2007
Bloomberg today released global law firm M&A league tables for the first half of 2007 and Sullivan & Cromwell is at the top. According to Bloomberg, S&C advised on six of the 10 largest deals totaling $458.3 billion, including Barclays Plc's planned acquisition of ABN Amro Holding NV for $90.7 billion. The ABN Amro transaction was a virtual requirement to make the top ten as eight of the top 10 legal advisers for the half are advising on some aspect of the transaction. Here are the rest:
Top-Ranked M&A Law Firms for 2007's First Half
Firm Value of Deals (in billions)
Sullivan & Cromwell $458.3
Clifford Chance $327.8
Wachtell Lipton $310.7
Simpson Thacher $284.4
Allen & Overy $267.9
Cravath Swaine $232.4
Shearman & Sterling $225.9
Uria Menendez $223.7
Davis Polk $219.2
Bloomberg's rankings only count principal advisory roles (i.e., only deals in which a law
firm represented buyers, sellers or targets). The rankings are therefore more accurate than other rankings which include financial advisory roles (i.e., including deals in which a law firm is also representing an investment bank for the buyer, seller or target).
The rankings show the continuing dominance of both English and American firms, with U.S. firms in the lead. And congratulations to Shearman & Sterling which is back in the top ten after a long absence!