The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
Freshfields Bruckhaus Deringer has netted the largest share of Germany's deals despite the slow market, as revealed by Thomson Financial's M&A tables for announced deals, January-June 2003. It is understood that some of the firm's German offices are now matching, or are slightly outperforming, London.
Meanwhile, Slaughter and May's best friend Hengeler Mueller has had a very quiet six months. It has also been a very successful year for Allen & Overy's developing German practice. Last year the firm came sixth for announced deals, racking up $19.93bn (£11.91bn) worth of work. So far this year, it has handled up $11.28bn (£6.74bn) of work and is second in the deals table, beating magic circle rivals Clifford Chance and Linklaters and US giant Shearman & Sterling.
Last year, Hengeler topped the announced deals table, advising on $30.68bn (£18.33bn) worth of deals. However, in the first half of this year, the firm had acted on just $6.35bn (£3.79bn) worth of deals.
One Hengeler partner said: "In one or two cases, we've had bad luck with conflicts." The firm was conflicted out of Procter & Gamble's (P&G) friendly takeover of Wella because of its relationship with P&G rival Henkel. The firm was also conflicted out of the slew of work to come from the Kirch insolvency.
Freshfields, by contrast, had a slice of the Wella deal, although the firm's involvement was restricted to antitrust advice. The magic circle firm also advised US entrepreneur Haim Saban on a planned deal to buy Kirch's back catalogue, although the deal fell over this month.
Freshfields' M&A partner Burkhard Bastuck attributed freshfields' success to activity in the firm's longstanding industrial client base.