GlobalData, a leading data and analytics company, has revealed its global league tables for top 10 legal advisers in construction sector by value and volume for Q1–Q3 2020 in its report, ‘Global and Construction M&A Report Legal Adviser League Tables Q1-Q3 2020’.
According to GlobalData’s M&A report, a total of 2,118 M&A deals were announced in the construction sector during the period. There was a 21.5% decrease over 2,697 deals that were announced during Q1-Q3 2019. Deal value also decreased by 51.4% from $320bn in Q1-Q3 2019 to $156bn in Q1-Q3 2020.
Sullivan & Cromwell tops by value
As per GlobalData’s ranking, Sullivan & Cromwell gained the top position in terms of deal value. It advised on five deals worth $26.5bn, which was the highest value among all the advisers.
Kirkland & Ellis occupied the second position by value with 12 deals worth $25.7bn, followed by Cleary Gottlieb Steen & Hamilton with four deals worth $25bn and Freshfields Bruckhaus Deringer with seven deals worth $22.3bn.
White & Case leads by volume
White & Case led in volume terms having advised on 16 deals worth $21.8bn. Latham & Watkins occupied the second position by volume with 14 deals worth $8.5bn, followed by Jones Day with 14 deals worth $0.8bn.
GlobalData lead analyst Aurojyoti Bose said: “Most of the top ten advisers by value showcased deal value higher than $20bn and competition for the top position was intense. Sullivan & Cromwell advised on three billion-dollar deals worth greater than or equal to $1bn, out of which one was a megadeal worth greater than or equal to $10bn, which helped the firm top the list by value.
“While Sullivan & Cromwell did not appear among the top ten advisers by volume, White & Case, that led in terms of number of deals, also managed to occupy the fifth position by value.”
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.
To ensure further robustness to the data, the company also seeks submissions from leading advisers, through adviser submission forms on GlobalData’s website