US firms confirm dominance of global M&A

US firms have reaffirmed their position as the global leaders of M&A by continuing to dominate the worldwide tables for both announced and completed deals.

According to figures released by Thomson Financial, US firms accounted for eight of the top 10 firms based on the value of announced deals worldwide in the first half of 2005. Seven of the top 10 spots based on completed deals globally for the same period were also filled by US firms.

Cleary Gottlieb Steen & Hamilton earned the top spot in the announced table with 67 deals worth $209.9bn, representing a 16.5 per cent market share. Sullivan & Cromwell claimed the number one spot in the worldwide completed table with 57 deals worth $138.18bn.

Although the number of deals handled by Jones Day shrank in comparison to last year, the firm continued to hold the top spot on the worldwide completed table with 245 deals. The firm was also a new entry in the worldwide announced deals table with an aggregate $133.3bn from 246 deals.

The only UK firms to secure spots in the top 10 for announced deals were Clifford Chance and Freshfields Bruckhaus Deringer. The former secured fifth place after advising on 165 deals worth $168.49bn while Freshfields made seventh place after advising on 98 deals worth $158.04bn.

Clifford Chance also managed to secure second place in the completed deals table, advising on 141 deals worth $122.47bn. Linklaters secured third place in the same table, while Allen & Overy scraped into ninth position.