Mallesons Stephen Jaques is the top M&A legal adviser by deal value and Allens Arthur Robinson is master of completed M&A deals, according to recently released Thomson Reuters figures.
Mallesons advised on a total of 19 announced deals for the first quarter of this year worth US$12.2bn (A$17.1bn), followed by Freehills' 21 deals worth US$11.1bn (A$15.4bn); Johnson Winter & Slattery leapt from 30th place in 2008 to third place, with seven deals valued at US$10bn (A$13.9bn).
"Last year the market drivers were resources, distressed buyouts and corporate opportunities, and the resources market has since fallen off as an industry. We still saw resources deals driven by strategic transactions - China was at the forefront of that. We have invested substantially in building our China offices and this presence has helped us get clients like Chinalco and Hunan Valin," said Mallesons co M&A head Greg Golding.
Strong cross-border work has contributed to an overall increase in deal value for all three firms. Mallesons nearly doubled its deal values in the first quarter of this year compared to the 2008 first-quarter total value of US$5.5bn (A$7.6bn). This trend appeared across the board, with all announced values in the first quarter of 2009 totalling US$26.5bn (A$36.8bn) compared to US$19.3bn (A$26.8bn) in the same period in 2008.
With regard to completed deals, Allens Arthur Robinson remained strong with 11 completed deals worth US$2.4bn. Freehills came second with 17 deals valued at US$2.3bn, while Clayton Utz, Mallesons and Minter Ellison followed consecutively.
Completed deals for the first quarter of 2009 were significantly down compared to last year. There were a total of 81 completed deals worth A$7.2bn compared with A$30.6bn last year, representing a 77% drop.
"Deals are taking much longer to complete or don't get executed, since the risk is greater due to greater uncertainty and a volatile financial market. We are optimistic that deals will continue to be completed, as there is still a pipeline of new deals," said Golding.
Last year there was some controversy over seemingly contradictory results between Thomson Reuters and Mergermarket.
M&A Legal Advisers Q12009 – Australian/NZ Involvement Announced
|
|
Q12009
|
Q12008
|
|
Rank
|
Rank value (US$m)
|
Number of deals
|
Rank
|
Rank value (US$m)
|
|
Legal Adviser
|
|
|
|
|
|
|
|
1
|
12,181
|
19
|
2
|
5,482
|
|
|
2
|
11,084
|
21
|
3
|
5,121
|
|
|
3
|
10,014
|
7
|
30
|
129
|
|
|
9
|
7,095
|
10
|
1
|
8,719
|
|
|
11
|
3,412
|
8
|
8
|
1,941
|
|
|
12
|
3,201
|
4
|
7
|
2,117
|
|
|
13
|
3,040
|
10
|
4
|
4,037
|
|
|
17
|
572
|
12
|
9
|
1,639
|
|
|
18
|
438
|
6
|
13
|
785
|
|
|
19
|
390
|
3
|
34
|
70
|
|
Skadden
|
21
|
136
|
1
|
10
|
918
|
|
|
24
|
87
|
2
|
-
|
-
|
|
|
25
|
74
|
4
|
24
|
169
|
|
Subtotal with legal adviser
|
-
|
26,453
|
97
|
-
|
19,366
|
|
Industry total
|
-
|
29,859
|
470
|
-
|
22,563
|
M&A Legal Advisers Q12009 – Australian/NZ Involvement Completed
|
|
Q12009
|
Q12008
|
|
Rank
|
Rank value (US$m)
|
Number of deals
|
Rank
|
Rank value (US$m)
|
|
Legal Adviser
|
|
|
|
|
|
|
|
1
|
3,370
|
11
|
6
|
4,272
|
|
|
2
|
2,298
|
17
|
2
|
10,502
|
|
|
3
|
1,817
|
9
|
5
|
4,824
|
|
|
5
|
1,737
|
12
|
1
|
11,609
|
|
|
5
|
1,593
|
11
|
15
|
2,362
|
|
|
6
|
1,146
|
5
|
27
|
449
|
|
|
8
|
985
|
2
|
8
|
2,975
|
|
|
9
|
777
|
4
|
21
|
1,396
|
|
|
11
|
619
|
10
|
16
|
1,863
|
|
|
12
|
466
|
2
|
14
|
2,496
|
|
|
15
|
215
|
1
|
39
|
159
|
|
|
17
|
94
|
2
|
35
|
185
|
|
|
18
|
86
|
3
|
-
|
-
|
|
|
19
|
85
|
2
|
41
|
122
|
|
|
20
|
84
|
4
|
17
|
1,782
|
|
|
21
|
45
|
5
|
26
|
562
|
|
|
22
|
41
|
1
|
-
|
-
|
|
Subtotal with legal adviser
|
-
|
7,190
|
81
|
-
|
30,639
|
|
Industry total
|
-
|
8,259
|
326
|
-
|
32,596
|