Freshfields Bruckhaus Deringer has increased its dominance in top-tier European M&A, finishing well ahead of its rivals in Legal Week’s 2006 primary adviser rankings.
Research in association with Mergermarket shows the magic circle firm played a primary role on almost a quarter of Europe’s 200 biggest deals last year — advising on 46 deals worth more than £200bn overall.
It is the second year running that the magic circle firm, the winner of Legal Week’s 2006 M&A Team of the Year award, has topped the primary adviser league tables, which strip away secondary roles on the year’s major deals. The firm’s total deal value tally is a 53% increase on its performance for 2005.
Freshfields’ deal haul, which included lead roles on four of Europe’s 10 biggest transactions, puts blue water between it and its nearest competitor, Linklaters, which advised on 35 deals worth £135.6bn. Linklaters increased its deal value by 38% to overtake last year’s runner-up, Clifford Chance (CC), which advised on 29 deals worth £108bn.
The rankings show Freshfields, Linklaters and CC continuing to pull away from magic circle rivals Allen & Overy and Slaughter and May in the key cross-border European deal market.
Other leading City firms including Herbert Smith, Norton Rose, Macfarlanes and Ashurst failed to make the top 10 as US giants Skadden Arps Slate Meagher & Flom, Cleary Gottlieb Steen & Hamilton and Shearman & Sterling leveraged off strong networks in continental Europe to stay on the leaderboard.
Freshfields corporate partner Mark Rawlinson said: “In the wake of our corporate reorganisation there has been a lot of energy at Freshfields. The corporate group has been recognised and people have put in a huge amount of effort.”
Talkback: Can anyone challenge Freshfields' M&A lead?
