City rivals top M&A

Magic circle firms Freshfields and Linklaters & Alliance have topped the global and European mergers and acquisitions (M&A) league tables for the first quarter of 2001, research has shown.Freshfields is working on 43 deals worth $89 billion (62 billion), while Linklaters 57 deals are worth $70 billion in total, said business news company Bloomberg.

This is the latest in a rising number of such tables ranking the top 20 advisers on announced deals around the world.

The table is dominated by US firms, despite Clifford Chance and Slaughter and May filling fourth and fifth places respectively.

Allen & Overy, at 14th, is the only other non-US firm.

Wachtell Lipton Rosen & Katz (12 deals worth $61 billion) and Skadden Arps Slate Meagher & Flom (37 deals worth $41 billion) are the top US firms.The European deals table was similar to the global table, although City firms Herbert Smith and Norton Rose appear in the top 20.Linklaters corporate partner Richard Godden said globalisation means there continues to be plenty of M&A work, even if the problems in the US economy lead to a downturn.

There is still so much restructuring to do in Asia and Europe, that I can only see the demand for mergers work continuing to grow, he said.Andrew Towler