City firm Hogan Lovells outperformed all other UK firms in the value of mergers and acquisitions (M&A) it advised upon in 2013, ranking ninth in the world. 

The firm’s global market share for M&A deals was 9%, according to Thomson Reuters Legal Advisors' annual M&A review. It rose from 38th place in 2012 when its share was 2.3%.

Hogan Lovells became one of the largest firms in the world following its merger between US firm Hogan & Hartson and City firm Lovells in 2010. The deal created a combined revenue of £1.1bn and 2,500 lawyers in more than 40 offices.

Magic circle firm Slaughter and May came 10th in Thomson Reuters’ global rankings, up from 30th in 2012, with an 8.6% share of deals. 

Both firms were significantly boosted by their work on the Verizon/Vodafone deal, said Lucille Quilter, deals analyst at Thomson Reuters.

However, all other magic circle firms were hit by a slump in M&A activity for 2013.

Freshfields Bruckhaus Deringer fell from second place in 2012 to 13th in 2013,with a 6.2% market share. Linklaters dropped to 19th from fifth, with a 5.2% share. Allen & Overy fell three places to 22nd, with a 4.9% share while Clifford Chance failed to make the top 25.

The overall value of deals involving UK firms fell 4%, said Quilter.

But she said the outlook for firms this year would be better. ‘Looking to the forthcoming year, our 2014 Outlook for Investment Banking Services shows a more optimistic mood for 2014, indicating a move towards a period of expansionary plans and increased volumes as confidence grows,’ she said.