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October 29, 2020updated 06 Nov 2020 1:00pm

Top 10 M&A legal advisers in Europe for Q1–Q3 2020 revealed

GlobalData, a leading data and analytics company, has revealed its league tables for top 10 legal advisers by value and volume in Europe for Q1–Q3 2020 in its report, Global & Europe M&A Review & Legal Adviser League tables’.

According to GlobalData’s M&A report, a total of 6,245 M&A deals were announced in Europe during the period.

There was a 19.9% decrease over 7,792 deals during the corresponding period in 2019. Deal value also fell by 14.8% from $575bn in Q1-Q3 2019 to $490bn in Q1-Q3 2020.

Latham & Watkins tops by value 

As per GlobalData’s ranking, Latham & Watkins advised on 71 deals worth $84.2bn, which was the highest value among all the advisers.

Allen & Overy occupied the second position by value with 105 deals worth $80.3bn, followed by Freshfields Bruckhaus Deringer with 39 deals worth $79.6bn and Cleary Gottlieb Steen & Hamilton with 19 deals worth $66.8bn.

CMS leads by volume

CMS led in terms of volume having advised on 142 deals worth $8.9bn.

GlobalData financial deals analyst Aurojyoti Bose said: “While none of the advisers were able to cross the $100bn mark during the COVID-19 hit 2020, CMS, which held the top spot by volume, failed to even cross US$10bn and lagged behind many of its peers in terms of deal value due to the firm’s involvement in low value transactions. It also did not feature among the top 10 advisers by value. Akin to CMS, the majority of the firms in the top 10 list by volume also lagged behind in terms of deal value with only three among them able to make it to the list of top 10 advisers by value.

“In contrast, Latham & Watkins, which advised on half the number of deals compared to CMS, managed to occupy the top spot by value due to its involvement in nine deals worth greater than or equal to $1bn, out of which three were mega deals worth greater than or equal to $10bn.”

Baker McKenzie took the second spot by volume with 108 deals worth $13.7bn, followed by Allen & Overy.

Freshfields Bruckhaus Deringer and CMS secured the top position by value and volume in the UK – the key European market.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website

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