According to the Mergermarket’s European league tables for 1 January 2004 to 22 December 2004 Linklaters, which ranked second in the previous year advised on 236 deals worth 197bn euros.
Meanwhile, Linklaters’ magic circle rival Clifford Chance dropped to second place after advising on deals totalling 167.7bn euros. However, Clifford Chance tops volume table after working on 242 deals last year.
Herbert Smith, which failed to make the top ten in the 2003 tables jumped from 11th place to fifth in the values ranking after advising on deals totalling 121.1bn euros.
The US firms made a respectable showing with seven stateside practices making the top 20 with New York-based Sullivan & Cromwell leading the pack after jumping from sixth place to fourth.