GlobalData, a leading data and analytics company, has revealed its league tables for top 10 legal advisers by value and volume in global construction sector for 2020 in its report, ‘Global and Construction M&A Review & Legal Adviser League tables’.
According to GlobalData’s M&A report, a total 3,693 M&A deals were announced in the sector during 2020, marking a 6.3% decrease over the 3,943 deals announced in 2019. The deal value decreased by 31.5% from $485bn in 2019 to $332bn in 2020.
Top Advisers by Value and Volume
Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the global construction sector for 2020 by value and volume, respectively. Sullivan & Cromwell advised on six deals worth $35.6bn, which was the highest value among all advisers. Meanwhile, Kirkland & Ellis led in volume terms having advised on 27 deals worth $30.6bn.
GlobalData lead analyst Aurojyoti Bose said: “Despite advising on single-digit deal volume, Sullivan & Cromwell occupied the top spot in terms of value due to its involvement in relatively higher-value transactions. Meanwhile, Kirkland & Ellis was one among three firms that managed to advise on more than 20 deals and had to settle for second position by value.
“Although both firms advised on four billion-dollar deals – each worth greater than or equal to $1bn, including a mega deal valued more than or equal to $10bn – the average deal size of Sullivan & Cromwell stood at $5.9bn while Kirkland & Ellis stood at just $1.1bn.”
Cleary Gottlieb Steen & Hamilton occupied third position in GlobalData’s ranking of legal advisers for M&As in the global construction sector by value with seven deals worth $25.7bn. This was followed by Fried Frank Harris Shriver & Jacobson with eight deals worth $23.1bn.
Latham & Watkins occupied the second position by volume with 22 deals worth $13.5bn, followed by Jones Day with 21 deals worth $10.1bn, and Vinge with 18 deals worth $7.7bn.
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.