Kirkland & Ellis has emerged as the leader in the M&A advisory space for the first quarter of 2025. Despite the challenging market conditions, the firm successfully guided global deals approximately valued at $138 billion, according to Bloomberg Law’s league tables.
Following Kirkland in the rankings were Davis Polk & Wardwell with $92 billion in deals, Debevoise & Plimpton with $79 billion, Freshfields with $76 billion, and Latham & Watkins with $68 billion. Kirkland’s lawyers played a critical role in advising some of the quarter’s largest transactions, including Sycamore Partners’ $23.7 billion acquisition of Walgreens Boots Alliance Inc., which notably took the company private. Additionally, Constellation’s significant dealings were also under Kirkland’s purview.
This surge in M&A activity, highlighted by massive deals, reflects a complex market landscape where firms navigate unforeseen challenges. The ranking underscores Kirkland’s preeminence as the top M&A adviser, maintaining its position from the previous year in a high-stakes environment.
As the industry continues to adjust to the fluctuating conditions, Kirkland and its peers remain pivotal players, driving substantial transactions forward amid economic uncertainties.