According to the information provided on Slaughter and May’s website, their ‘Best Friends’ network – a collective of elite European law firms – had a significant role in M&A deals valued at $288 billion in 2022, based on Mergermarket’s data. This contribution significantly outpaces those of other top legal advisors such as Freshfields Bruckhaus Deringer, Clifford Chance and Latham & Watkins, which are behind by more than $100 billion. (Law.com International)
However, an in-depth analysis of five years of M&A data by Law.com International paints a different picture. The detailed examination found that the members of the renowned European network – including not just Slaughters, but Hengeler, De Brauw, Uria, Bredin Prat, and BonelliErede – may not collaborate on M&A deals as often as it might appear. The analysis revealed that only a small percentage of announced M&A deals involved the participation of more than one of these ‘Best Friends’.
It appears that while the ‘Best Friends’ network may publicly claim a significant role in European M&A deals, the reality of how often these partners actually work together might be quite a different story. Readers are encouraged to delve deeper into the analysis conducted by Law.com International to gain a better understanding of how effective the network truly is.