As the global Mergers & Acquisitions (M&A) market dips to its lowest deal value since 2013, Kirkland & Ellis have moved up in the ranks to secure the leading position for principal advisors in deal value. This shift has displaced Latham & Watkins to the runner-up position, whereas Goodwin Procter has continued its reign in the realm of deal volume. Read more on law.com.
The total deal value for worldwide M&A across three quarters of 2023 stood at $2 trillion, marking a significant 27% decline from the previous year, as reported by the London Stock Exchange’s Refinitiv. Despite a 16% upsurge in the third quarter as compared to the fiscal second quarter, this year marked the lowest third quarter for deal value since 2012. This trend has been worrying for most law firms witnessing a plummet in deal counts.
Interestingly, Davis Polk has leaped to the 4th position among the principal advisors in deal value. Paul Weiss, on the other hand, has seen the most significant jump among the top five. As the M&A market navigates a challenging landscape, these movements in the league tables reflect the evolving strategic directions of these established law firms.