Slaughter and May and Macfarlanes have pinched the top spots for UK M&A for the year to date, thanks to their work on Verizon Communications’ acquisition of Vodafone’s 45 per cent stake in Verizon Wireless for $130.1bn (£84bn).
According to Thomson Reuters’ preliminary data for worldwide announced M&A for the first three quarters of 2013, Slaughters worked on 33 M&A deals with UK involvement, with a combined value of $136.2bn.
The bulk of this figure is thanks to the firm’s instruction by Vodafone on the enormous transaction (2 September 2013), topped up by deals including the $2.2bn acquisition of Stansted Airport by Manchester Airport Group in July 2013 (21 January 2013).
The Verizon transaction also boosted Macfarlanes’ total UK deal value to $130.3bn – with the outstanding $200m unattributable to its work for Verizon generated by five separate deals. The largest of these was the Canary Wharf Group’s estimated £128m ($195.6m) acquisition of 15 Westferry Circus.
The Verizon/Vodafone deal is worth £100m more in value than the period’s second largest transaction with UK involvement – Vodafone’s €7.7bn (£6.6bn) takeover of Kabel Deutschland, in which Linklaters took the helm for the UK-domiciled telecommunications company (24 June 2013).
The results put Macfarlanes in second place in the year’s rankings so far, substantially ahead of Linklaters ($32.4bn), Freshfields Bruckhaus Deringer ($28.7bn), Clifford Chance ($15.8bn) and Allen & Overy ($10.5bn).
Slaughters and Macfarlanes also feature as the two highest ranking UK firms in Thomson Reuters’ global M&A rankings, followed by Allen & Overy, Freshfields Bruckhaus Deringer, Hogan Lovells, Linklaters, Clifford Chance and Herbert Smith Freehills respectively.
Data is for the year up to 30 September, and includes all deals announced since 1 January.
|Rank||Legal Advisor||Ranking value inc. net debt of target ($m)||Market share||Number of deals|
|1||Davis Polk & Wardwell||141,380.5||53.1||13|
|2||Slaughter & May||136,190.7||51.1||33|
|4||Simpson Thacher & Bartlett||135,384.0||50.8||15|
|5||De Brauw Blackstone Westbroek||134,486.0||50.5||5|
|6||Weil Gotshal & Manges||134,444.4||50.5||13|
|7||Debevoise & Plimpton||132,321.2||49.7||4|
|9||Wachtell Lipton Rosen & Katz||130,100.0||48.8||1|
|11||Freshfields Bruckhaus Deringer||28,658.9||10.8||47|
|14||Herbert Smith Freehills||12,406.5||4.7||25|
|15||Allen & Overy||10,493.7||3.9||45|