US law firm Paul Weiss Rifkind Wharton & Garrison has risen to become the second leading firm for M&A legal advisory in Europe, based on the performance over the initial three-quarters of 2023. The firm trails only UK’s elite firm, Freshfields Bruckhaus Deringer, marking a significant shift in the legal landscape and reflecting the growing presence of American law firms in the UK and European markets.
With a total of 23 deals valued at an aggregate of $84 billion, Paul Weiss has secured 14.2% of the total market share. This surge of activity by US-based firms in their European practice areas illustrates a broad trend. In fact, of the top 15 law firms for European M&A in 2023 to date, only three were originally established in Europe.
This trend indicates a shift in the balance of power in the international legal market, with US firms emerging as dominant players in the European M&A space. The legal fraternity will undoubtedly be watching with interest to see how this trend unfolds.
More on the details of Paul Weiss’s rise and international M&A rankings can be found here.