Ashurst London corporate partner Karen Davies has topped a new ranking showing the most prolific advisers by value on takeovers of UK companies during 2017.

Data from Mergermarket shows Davies has played roles on six takeovers of UK companies worth a combined $17bn (£12.7bn) in 2017, putting her narrowly ahead of joint second placed Skadden Arps Slate Meagher & Flom corporate partners Scott Hopkins and Michael Hatchard, who each worked on three deals worth a total of $16.4bn (£12.3bn).

The research looks only at deals with a UK target (as opposed to UK target, bidder or seller), to strip out British American Tobacco's (BAT) $60.5bn merger with Reynolds American, as otherwise the rankings would be dominated by lawyers who worked on that sole deal.

It includes all corporate advisory legal roles – including those for banks and underwriters, as well as primary advisers.

Top deals for Davies in 2017 have included acting for UK software company Aveva on its £3bn merger with Schneider Electric, which is expected to complete by the end of the year.

She also advised the underwriters on the $12bn (£9bn) sale of UK payment processor Worldpay to US rival Vantiv. Davies acted for Morgan Stanley and Credit Suisse with a team including banking partners Mark Vickers and Tim Rennie, who is ranked fourth in this list. That deal is due to complete in mid-January.

Hopkins and Hatchard took the primary adviser role for Vantiv on the deal, alongside New York M&A partners Peter Atkins and David Ingles. The duo were also part of the team representing the financial advisers on Michael Kors' $1.35bn ( £1bn) offer for luxury British fashion company Jimmy Choo.

Hatchard is due to retire from Skadden at the end of the year, but will continue to work with the firm as a strategic adviser, helping to promote it to FTSE companies.

Other high performers by value of UK takeovers include Davis Polk & Wardwell City corporate partner Will Pearce and Simpson Thacher & Bartlett London corporate partner Wheatley Macnamara, who are ranked fifth and sixth respectively.

Taking deals involving UK bidders and sellers into account – and therefore including the BAT-Reynolds deal – Pearce tops the UK value rankings, thanks in part to his role on Davis Polk's team providing UK and US legal advice to the financial and joint sponsors to BAT.

The largest UK takeover of 2017 according to Mergermarket was China Investment Corporation's (CIC) $13.8bn (£10.3bn) purchase of Blackstone's European warehouses and logistics business Logicor, the largest owner of warehouses in the UK.

On that deal, Clifford Chance advised CIC with a team including real estate co-head Adrian Levy and corporate partner Nigel Wellings (who is ranked joint 7th with Simpson Thacher's Adam Signy). Blackstone turned to Simpson Thacher, which fielded a team led by private equity real estate partner MacNamara, Signy and banking partner Tom Lloyd.

By volume, Orrick Herrington & Sutcliffe City corporate partner Anthony Riley acted on the most UK takeover deals this year (16), followed in second place by Addleshaw Goddard partner Paul Medlicott (9). Taking UK bidders and sellers into account, as well as targets, White & Case's Ian Bagshaw follows Riley in second place.

The rankings come against the backdrop of a challenging M&A market. Total global deal values and volume for the third quarter were significantly down on Q3 last year, with total deal value falling 23% to $674bn (£508bn) and volume dropping 16% to 3,772, the lowest quarterly total since Q3 2013.