Herbert Smith and Links head up UK firms for Q1 M&A as activity picks up
The UK M&A market is showing signs of recovery as activity levels begin to improve, according to new research from mergermarket. The figures show that 171 UK M&A deals were announced in the first quarter of 2010, compared to 150 during the same period last year, while the total value of deals during Q1 also increased, rising from $18.6bn (£12.2bn) last year to $20.7bn (£13.6bn).
April 08, 2010 at 09:06 AM
2 minute read
The UK M&A market is showing signs of recovery as activity levels begin to improve, according to new research from mergermarket.
The figures show that 171 UK M&A deals were announced in the first quarter of 2010, compared to 150 during the same period last year, while the total value of deals during Q1 also increased, rising from $18.6bn (£12.2bn) last year to $20.7bn (£13.6bn).
Herbert Smith was the top-ranked UK firm for UK M&A deals by value, advising on five deals worth a total of $38.6bn (£25.4bn), including the largest M&A mandate of the quarter – Prudential's $35.5bn (£23.3bn) takeover of the Asian assets of AIG.
Linklaters topped the volume tables for UK M&A, advising on 22 deals worth a total of $14.3bn (£9.4bn), while the magic circle firm also took first place in the volume rankings for European M&A, featuring on 38 deals with a total value of $26.8bn (£17.6bn). Second and third place were taken by Allen & Overy and DLA Piper, with roles on 35 and 29 deals respectively.
New York's Sullivan & Cromwell took the top slot in the Q1 global M&A rankings by value, advising on 15 deals worth a total of $87.4bn (£57.4bn), with second and third place taken by Weil Gotshal and Wachtell Lipton Rosen & Katz respectively.
Herbert Smith was the only UK firm to make the global top 10, placing at number nine together with European allies Gleiss Lutz and Stibbe. The three firms advised on 21 deals worth a total of $53.6bn (£35.2bn) during the quarter.
Herbert Smith corporate head Michael Walter (pictured) commented: "We seem to have had a very good run at the moment and it is very pleasing to see us up there in the league tables. The quarter has been much busier than the same period last year. The year got off to a slow start but since late January we have been flat-out busy."
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