At times, it looked as if the UK’s public M&A market was about to triumphantly return to form in the first half of 2013. But the rush never quite materialised.
UK public M&A deals between 1 January and 27 June fell to 21 – a drop from 26 in the previous six months. According to research by The Lawyer, total deal value dropped from £8.9bn to £5.2bn, while total fees paid to lawyers tumbled from about £38.9m to £25.4m.
At the other end of the scale, Fieldfisher and Hill Dickinson took home £89,500 for their work on Alston Acquisition’s buyout of Parkwood Holdings.
The results demonstrate that there’s no one magic formula when it comes to setting fee arrangements. But that said, there are a number of essential building blocks that firms need to take into account when charging clients – ranging from deal value and the history of the client relationship, to the strength of your brand in the market.
For more, check out our feature: Decline & Fall.
Also on TheLawyer.com:
- Recently merged Squire Patton Boggs has completed its first bolt-on, in the form of three-partner Tokyo firm Mamiya Law Offices
- Cleary Gottlieb and Clifford Chance have joined a host of UK, US and French firms involved in the battle to acquire luxury travel business Club Med
- Allen & Overy and Herbert Smith Freehills advised German-headquartered Tui AG and its UK subsidiary Tui Travel respectively on their £4.8bn merger