M&A booms on the back of fewer but larger deals
Dealmakers made fewer but larger deals in the first quarter of 2018, boosting M&A in Australia and New Zealand more than 83% compared to the first quarter of last year.
There were 396 deals valued at US$36.23bn announced in 1Q2018, according to the latest league tables from Bloomberg. In the comparable quarter last year, there were 402 deals valued at US$19.75bn.
Baker McKenzie made a massive jump in the first quarter to lead all other legal advisers in M&A deals with US$11.03bn worth of deals under its belt. Next was DLA Piper, which was not even in the top 20 advisers in terms of deal value in 1Q2017, with US$10.37bn. Danish law firm Kromann Reumert secured the third spot with US$10.05bn of deals.
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Another returnee to the top 20 by deal value is King & Wood Mallesons with US$7.79bn. The firm is followed by Herbert Smith Freehills, which completes the top five with US$6.39bn worth of deals.
In terms of deal count, Herbert Smith Freehills leads with 24 deals, followed by Allens with 16, King & Wood Mallesons with 15, Gilbert + Tobin with 11, and MinterEllison with 10 deals.
Below are the top legal advisers for announced Australia and New Zealand M&A ranked by deal value and deal count for the first quarters of 2018 and 2017.
Top 20 legal advisers - 1Q2018 by deal value
- Baker McKenzie – US$11.03bn
- DLA Piper – US$10.37bn
- Kromann Reumert – US$10.05bn
- King & Wood Mallesons – US$7.79bn
- Herbert Smith Freehills – US$6.39bn
- Allens – US$5.84bn
- Ashurst – US$1.48
- Norton Rose Fulbright – US$1.46bn
- Gilbert + Tobin – US$1.34bn
- Clayton Utz – US$1.31bn
- Watson Mangioni – US$1.17bn
- Davis Polk & Wardwell – US$1.17bn
- Blake Cassels & Graydon – US$1.16
- Latham & Watkins – US$1.02bn
- Linklaters – US$999m
- Morrison & Foerster – US$816m
- Cravath Swaine & Moore – US$816m
- Pacific Equity Partners – US$520m
- Corrs Chambers Westgarth – US$450m
- MinterEllison – US$398m
Top 20 legal advisers - 1Q2018 by deal count
- Herbert Smith Freehills – 24
- Allens – 16
- King & Wood Mallesons – 15
- Gilbert + Tobin – 11
- MinterEllison – 10
- Ashurst – 7
- Baker McKenzie – 6
- Corrs Chambers Westgarth – 6
- Jones Day – 6
- Norton Rose Fulbright – 4
- Blake Cassels & Graydon – 4
- Bell Gully – 4
- HWL Ebsworth – 4
- Goodwin Procter – 3
- DLA Piper – 2
- Clayton Utz – 2
- Linklaters – 2
- Kirkland & Ellis – 2
- Allen & Overy – 2
- K&L Gates – 2
Top 20 legal advisers - 1Q2017 by deal value
- Herbert Smith Freehills – US$7.61bn
- Allens – US$3.17bn
- Allen & Overy – US$08bn
- Gilbert + Tobin – US$3.06bn
- Baker McKenzie – US$2.73bn
- Linklaters – US$2.6bn
- Clifford Chance – US$2.44bn
- Ashurst – US$1.7bn
- Freshfields Bruckhaus Deringer – US$1.58bn
- MinterEllison – US$832m
- Bell Gully – US$596m
- HWL Ebsworth – US$458m
- Corrs Chambers Westgarth – US$453m
- Kirkland & Ellis – US$445m
- Goodwin Procter – US$425m
- Allion Legal – US$253m
- Chapman Tripp – US$234m
- Sullivan & Cromwell – US$217m
- Bae Kim & Lee – US$189m
- Jones Day – US$124m
- MinterEllison – 17
- Herbert Smith Freehills – 14
- Gilbert + Tobin – 14
- HWL Ebsworth – 10
- Corrs Chambers Westgarth – 9
- Baker McKenzie – 8
- Allens – 6
- Clifford Chance – 5
- Chapman Tripp – 5
- Bell Gully – 4
- Jones Day – 4
- Norton Rose Fulbright – 4
- Allen & Overy – 3
- Freshfields Bruckhaus Deringer – 3
- DLA Piper – 3
- Linklaters – 2
- Ashurst – 2
- Kirkland & Ellis – 2
- Goodwin Procter – 1
- Allion Legal – 1