Freshfields Bruckhaus Deringer and Clifford Chance were the top legal advisors for mergers and acquisitions across the Asia Pacific in 2020, according to data compiled by Mergermarket.

The U.S. firms Sullivan & Cromwell and Davis Polk & Wardwell were third and fourth, respectively, in advising M&As with the highest value in the Asia Pacific excluding Japan, while China's Fangda Partners made the top five as the only Asian firm. King & Wood Mallesons, which had held the annual top spot for four consecutive years since 2016, ranked a mere 15th.

Overall, the Asia Pacific excluding Japan saw $752.7 billion in M&A volume last year, up 26% from 2019 despite the pandemic disruptions. In Japan, where deals were counted separately by Mergermarket, M&A activity reached $109.1 billion, up a whopping 61% year-on-year and the highest amount since at least 2007.