Mergermarket Q1 M&A value leader AZB & Partners slipped to seventh spot in 2014’s half-yearly rankings, while Q1 ninth-ranked Amarchand made up the lag in its M&A reported instructions to hold the top spot.
S&R Associates, which was missing from the Q1 value table, closed the $1.4bn Vodafone-Piramal buyout and jumped into second spot, replacing Trilegal which slipped to rank nine in terms of value.
Luthra & Luthra maintained its value ranking on the league tables (rank 3), but slipped from second place to sixth in terms of deal count after closing a lesser number of M&As than Amarchand, AZB, Desai & Diwanji, Khaitan & Co and JSA in that order.
Crawford Bayley’s two deals catapulted it to fourth spot in the value table ahead of AZB sitting at number seven, Khaitan at eight and JSA on rank 12, despite all those firms’ double digit deal count figures.
Crawford, Amarchand and Luthra all benefited from having roles on this half-year’s biggest deal: the $4bn Ranbazy sell out to Sun Pharma.
Values
Q2 brought on a boom of big mandates with H1 M&A leader Amarchand having acted on deals worth over $8bn, and Trilegal – ranked nine by deal values docketing a bigger total M&A closing values ($1.2bn) than what Q1 leader AZB did ($1.03bn) at the end of Q1.
Khaitan & Co, which was ranked five in Q1, was replaced by a new entrant on the value table – PH Bathiya & Associates, as Khaitan slipped to eighth spot.
Volumes
Amarchand did 13 more deals in Q2 to docket a total of 20 M&As by the end of the half year, while AZB did 12 more and totalled 17 M&As in H1.
Three-time consecutive M&A deal count leader Desai & Diwanji, which had gone missing from Q1’s table, flew back into third place.
- Read more on league tables: Legal league tables explained: How to perform and excel in the vicious / virtuous circus
Domestic firms: league table by value (via mergermarket)
| Rank | Firm | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Amarchand Mangaldas | 8,354 | 20 |
| 2 | S&R Associates | 4,838 | 4 |
| 3 | Luthra & Luthra | 4,735 | 8 |
| 4 | Crawford Bayley & Co | 4,463 | 2 |
| 5 | P H Bathiya & Associates | 3,967 | 7 |
| 6 | Platinum Partners | 3,140 | 1 |
| 7 | AZB & Partners | 2,696 | 17 |
| 8 | Khaitan & Co | 1,692 | 12 |
| 9 | Trilegal | 1,293 | 8 |
| 12 | Nishith Desai Associates | 838 | 3 |
| 13 | Vaish Associates | 782 | 3 |
| 14 | J Sagar Associates | 572 | 10 |
Domestic firms: league table by volume
| Rank | Firm | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Amarchand Mangaldas | 8,354 | 20 |
| 2 | AZB & Partners | 2,696 | 17 |
| 3 | Desai & Diwanji | 185 | 16 |
| 4 | Khaitan & Co | 1,692 | 12 |
| 5 | J Sagar Associates | 572 | 10 |
| 6 | Luthra & Luthra | 4,735 | 8 |
| 7 | Trilegal | 1,293 | 8 |
| 8 | P H Bathiya & Associates | 3,967 | 7 |
| 9 | DSK Legal | 142 | 7 |
| 11 | S&R Associates | 4,838 | 4 |
| 12 | Nishith Desai Associates | 838 | 3 |
| 13 | Vaish Associates | 782 | 3 |
| 14 | Tatva Legal | 37 | 3 |
| 15 | Crawford Bayley & Co | 4,463 | 2 |
| 16 | K Law | 163 | 2 |
View from outside
Among the foreign firms, Davis Polk & Wardwell was both busiest on the league table, with four deals, and leader in the total value stakes too with $6bn on its reported tally.
White & Case, Herbert Smith Freehills and DLA Piper each saw three of their deals included in the half-year ranking.
Foreign firms by value
| Rank | Firm | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Davis Polk & Wardwell | 6,033 | 4 |
| 2 | Shearman & Sterling | 4,227 | 2 |
| 3 | White & Case | 4,172 | 3 |
| 4 | Weil Gotshal & Manges | 3,967 | 1 |
| 5 | Slaughter and May | 3,140 | 1 |
| 6 | Herbert Smith Freehills | 1,087 | 3 |
| 7 | Allen & Overy | 1,038 | 2 |
| 8 | Edward Nathan Sonnenbergs | 676 | 1 |
| 8 | Clifford Chance | 496 | 2 |
| 8 | Koury Lopes Advogados (KLA) | 496 | 1 |
| 8 | Veirano Advogados | 496 | 1 |
| 12 | Bowman Gilfillan Africa Group | 453 | 1 |
| 13 | Bryan Cave | 358 | 1 |
Foreign firms by volume
| Rank | House | Value (US$m) | Deal Count |
|---|---|---|---|
| 1 | Davis Polk & Wardwell | 6,033 | 4 |
| 2 | White & Case | 4,172 | 3 |
| 3 | Herbert Smith Freehills | 1,087 | 3 |
| 4 | DLA Piper | 63 | 3 |
| 5 | Shearman & Sterling | 4,227 | 2 |
| 6 | Allen & Overy | 1,038 | 2 |
| 7 | Clifford Chance | 496 | 2 |
| 8 | O’Melveny & Myers | 290 | 2 |
| 9 | Stikeman Elliott | 260 | 2 |
| 10 | Loyens & Loeff | 235 | 2 |
Source: mergermarket
Comments
also, on the training front. More matters, more practice. All small matters are not the same. ultimately its just the numbers which are big or small. if everything else is the same, i dont think training is hampered much. Bigger matters do have more nuances, more structuring etc. but thats about it. You dont get called a market leader doing one huge ass deal in a practice area. There needs to me more people in the market who see a particular firm as the go to firm for a particular practice area. Thats how one becomes a leader in its field. PRecisely why there are separate ranking vis a vis deal count.
When it comes to legal league tables, there are none that I know off for Aviation, Real Estate or IP. If you know, enlighthen us all.
Apart from this, there are various other league tables but most cover only M&A,PE,Loans,Project Finance, IP0 & Bonds and nothing more....