Linklaters’ and CC’s bumper public M&A pay packet

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.

Natalie Stanton

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.

Linklaters and Clifford Chance took the crown for the highest-paid deal during the period – pocketing a combined £5.6m for their work on Essar Global Fund’s £1.8bn acquisition of Essar Energy.

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.

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