Linklaters romps up US M&A league tables

Linklaters has stormed to fifth place in the third-quarter US M&A rankings for announced deals based on value, rising a staggering 96 places, according to the latest Thomson Financial figures

The leap is set against a backdrop of a depressed equities market in which merger activity has fallen by 11.6 per cent. Linklaters' performance puts it ahead of the likes of Arnold & Porter and Cadwalader Wickersham & Taft. The firm announced 11 deals with a combined value of $78.6bn (£50.1bn), including RWE's $7.8bn (£5bn) recommended offer for Innogy and the $765m (£487m) sale of the business of Cervejarias Kaiser SA to Molson Inc.
Clifford Chance moves up four places to sixteenth position, while Freshfields Bruckhaus Deringer drops five to 23rd. Each firm announced deals valued at $21bn (£13.4bn) and $13bn (£8.3bn) respectively.
Skadden Arps Slate Meager & Flom leads the pack after announcing 101 deals totalling $118.9bn (75.7bn).
On completed deals the US firms still dominate, leaving the magic circle with a lot of catching up to do. Simpson Thacher & Bartlett tops the table based on the value of completed deals. The firm notched up 35 deals valued at $108.9bn (£69.4bn). Head of the firm's London office Walt Looney said: “It shows the depth and breadth of a firm at a time when the markets are not particularly active.” Skadden Arps and Sullivan & Cromwell take the second and third spots respectively. But all three firms have seen a significant fall in the value of transactions.
Freshfields is the only UK firm to appear in the top 20 for completed deals. It moves up nine positions and is now ranked sixteenth. The firm completed four deals valued at $26.7bn (£17bn).