Herbert Smith and Simmons join deals elite

Herbert Smith and Simmons & Simmons have joined the top 10 firms working on M&A deals in the UK, pushing out Australian firms Clayton Utz and Minter Ellison, according to figures published by Thomson Financial Securities Data.

For the third quarter (Q3) ending 30 September 1999, Herbert Smith ranks ninth – with nearly £8bn worth of deals completed so far this year – up by more than £2.5bn from the first half of the year ended 30 June 1999, when the firm made 14th place.

Simmons jumps from number 25 to eight with the value of deals reaching nearly £8bn – a leap of almost £6bn on the previous six months.

The total amount of completed deals Clayton Utz worked on in Q3 decreased by £3.9bn while Minter Ellison's deal value dropped by £3.8bn.

Linklaters & Alliance remains the the top deal maker, with deals worth £34.8bn – a 42.2 per cent share of the deals market. Slaughter and May comes in close behind with £32bn worth of deals, and Freshfields and Allen & Overy take third and foruth place, completing £20bn and £15.4bn worth of deals respectively.