Linklaters has lost its position at the top of the European M&A league tables after figures based on value for the first half of 2005 saw the firm drop two spots.
Figures released by Mergermarket saw Clifford Chance trump its magic circle competitor by jumping two spots to swap positions with Linklaters, after advising on deals worth EUR98.310bn.
Clifford Chance has an impressive EUR19.3bn lead over Freshfields Bruckhaus Deringer, which is in second place advising on deals worth almost EUR79bn. This is marginally ahead of Linklaters, which advised on deals worth almost EUR75bn.
But Linklaters remains at the top of the league tables if they are calculated on volume of work, having advised on 113 deals. This compares with the 99 deals completed by Clifford Chance and 94 deals completed by Freshfields.
The three magic circle firms were significantly ahead of the rest of the firms listed in the tables. Sullivan & Cromwell placed fourth based on value with 20 deals valuing EURO 55.5bn, and Clearly Gottlieb Steen & Hamilton fifth having advised on deals worth EUR42.2bn.