E.ON and Arcelor propel Skadden to top of mergermarket table

Skadden Arps Slate Meagher & Flom has topped mergermarket’s European M&A league for a second quarter in a row, after advising on 36 deals, worth a total of €189.6bn.

The US firm bagged roles on three of the four biggest deals of the year so far, including E.ON’s €47bn takeover of Endesa, Arcelor’s proposed €19bn acquisition by Mittal Steel and Abertis Infraestructruras’ €23bn bid for Autostrade.

Clifford Chance and Linklaters came second and third, with total deal values hovering around the €170bn mark.

The magic circle tightened its grip of the M&A market, with Clifford Chance, Linklaters, Freshfields and Allen & Overy dominating the deal volume table.

Clifford Chance led with 125 deals, chased by Linklaters and Freshfields with 118 and 115 deals. Allen & Overy came fourth with 111 deals.

Freshfields and Slaugher and May topped the UK deal table, with €73.8bn and €64.4bn respectively.

M&A activity is up 21 per cent on the same period last year.