Goldman Sachs, Davis Polk Top Q3 M&A Deal Rankings

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By Antoinette Gartrell

Goldman Sachs and Davis Polk & Wardwell LLP had the largest volume of merger and acquisition deals during the third quarter of 2017, Bloomberg data show.

Goldman, which also held the top spot during the previous quarter, handled 230 deals worth over $456 billion, approximately 19.5 percent of the total.

Davis Polk completed 109 deals worth more than $275 billion, representing 11.7 percent of the total global, announced deals. The law firm ranked second during the first half of 2017.

Legal Rankings

Skadden Arps Slate Meagher & Flom LLP, Kirkland & Ellis LLP, Sullivan & Cromwell LLP, and Cleary Gottlieb Steen & Hamilton LLP rounded out the top five law firms by volume. Each surpassed $211 billion in deal volume.

Jones Day led the overall deal count, as it did during the first half of 2017 and all of 2016, with 379. Kirkland & Ellis came in second place with 297 deals.

Financial Rankings

Morgan Stanley was second in deal volume with 230 deals valued at over $444 billion. Although Morgan Stanley and Goldman closed the same number of deals, Morgan Stanley’s represented slightly less market share at 19 percent.

Citigroup, which held the second spot during the first half of 2017, dropped to third place with just over $364 billion last quarter.

Rothschild & Co. was the top investment bank by deal count with 234 deals.

Top Principals

Bloomberg’s rankings by “global announced deals” took into account law firms’ work on behalf of banks and investment firms responsible for the financing of the deals. Bloomberg’s rankings by “principals” accounts for only the law firms that performed work for the principals of the transactions: the corporations that are either buying a target or selling to a buyer.

Using the principals rankings, Skadden held the number one spot, with 172 deals representing 15 percent of market share.

Kirkland & Ellis and Wachtell, Lipton, Rosen & Katz rounded out the top three, with 12.6 and 10.3 percent of market share, respectively

To contact the reporter on this story: Antoinette Gartrell in Washington at agartrell@bna.com

To contact the editor responsible for this story: Phyllis Diamond at pdiamond@bna.com

For More Information

The global M&A legal and financial advisory league tables, among many others, are available to Bloomberg Law subscribersat: https://www.bloomberglaw.com/page/league_tables

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