Figures released by Mergermarket saw Linklaters notching up 78 deals totalling 99bn euros. Meanwhile, Clifford Chance, which managed to hold onto the top spot based on deal volume advised on 92 deals worth a total 97.5bn euros.
Linklaters superseded Herbert Smith, which came top in the first quarter of 2004 following its role as one of the 16 advisers on the Synofi-Aventis deal. The half-year results now put Herbert Smith in fifth place behind Freshfields Bruckhaus Deringer and Sullivan & Cromwell, which are ranked third and fourth respectively.
However, for UK deals Linklaters has not fared well – ranking ninth place, behind all its magic circle rivals.
Meanwhile Ashurst, which replaced Freshfields on Philip Green’s bid for Marks & Spencer, has been catapulted to the top spot in the UK table based on deal value.