Magic circle firm Linklaters advised on deals totalling $102.9 billion from January until yesterday, according to the data released by Thomson Reuters, reports The Lawyer newspaper. The figures take into account all deals that included a UK party.

New York rivals

New York’s Skadden flew to second place -- compared to 14th in 2011 -- with its combined deal value increasing from $23.4bn last year to $79.7bn in the most recent table. Rival New York firm Cleary Gottlieb followed in third place with $66.8bn, while fourth and fifth places went to Brazilian firm Mattos Filho Veiga Filho Marrey with deals worth $57.1bn and New York’s Cravath Swaine & Moore on $55.6bn.
Magic circle duo Freshfields Bruckhaus Deringer and Clifford Chance came sixth and seventh respectively, however, Allen & Overy and Slaughter and May were both bettered by New York trio Shearman & Sterling, Weil Gotshal & Manges and Sullivan & Cromwell.

Covering the piece

Laurence Levy, co-head of Shearman’s London corporate team, commented: ‘I think it’s part of a trend of acceptance that there are a select defined group of international firms, whether New York-headquartered or London-headquartered, that are increasing the ones people turn to on a big transaction. There’s less recognition in the London market of whether you’re a UK firm or not – it’s whether you’re a firm that can cover the M&A piece.’
Total deal value with UK involvement showed slight growth at $327.7bn, up on $325.4bn in 2011.