Slaughters and Macfarlanes ring the changes

How much difference can a deal make? Just ask Slaughter and May or Macfarlanes.

Thomson Reuters has released its deal value data for 2013 so far, and the two firms are leaps and bounds ahead of their UK competition. They have also shot up the worldwide table for M&A deals to date in 2013, ringing in at numbers nine and 11 respectively – sandwiching global giant Skadden which is in tenth place.

Why? Well, that’s entirely down to their work on this year’s mega-deal – Verizon buying Vodafone’s 45 per cent stake in Verizon Wireless, America’s largest mobile network, for $130bn (£84bn).

It’s hard to underestimate the size of the deal – larger than top-ranked Linklaters’ total deal value for the calendar year 2012, $115.7bn.

The single transaction is the sole reason for the two firms’ outstanding performance this year so far. In 2012 Slaughters came thirteenth in year-end M&A tables, having advised on 46 deals involving a UK party with a total worth of $22.6bn, while Macfarlanes failed to secure a spot in the top 25.

Linklaters, of course, is a familiar face in Thomson Reuters’ deal tables. So far, 2013 is no different. After Slaughters and Macfarlanes, the firm comes top of the pack with £32.4bn of announced deals with UK involvement on its books.

That’s thanks to its work on the second and third largest deals of the period with UK involvement, advising Vodafone on its €7.7bn (£6.6bn) takeover of Kabel Deutschland and Schneider Electric on its £3.4bn takeover of British engineering company Invensys.


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