Skadden is top global M&A adviser in 2009
Skadden, Arps, Slate, Meagher & Flom overtook its UK competitor Linklaters LLP to advise on the highest value of mergers and acquisitions in 2009 according to Bloomberg data. Skadden advised on deals worth $354.4 billion, followed by Freshfields, Shearman & Sterling, Simpson Thacher & Bartlett and Davis Polk & Wardwell. Linklaters ranked sixth.
2009 was the weakest M&A market for years. Deal value fell about 32 percent to $1.7 trillion from from $2.5 trillion in 2008 and $4 trillion in 2007.
The two largest US deals of the year were in healthcare: Pfizer's $64 billion purchase of Wyeth, and Merck and Merck's $45.7 billion acquisition of Schering-Plough. Expected deals for 2010 include Exxon Mobil’s pending $41.4 billion purchase of XTO Energy Inc., Berkshire Hathaway’s acquisition of Burlington Northern Santa Fe Corp. for $35.8 billion and Kraft Foods’s announced hostile takeover of Cadbury.
Table of worldwide rankings in 2009:
1. Skadden (Deal Value $345,395)
2. Freshfields ($322,139)
3. Shearman & Sterling ($267,937)
4. Simpson Thacher ($266,701)
5. Davis Polk ($245,495)
6. Linklaters ($232,286)
7. Allens Arthur Robinson ($299,099)
8. Sullivan & Cromwell ($214,515)
9. Dewey & LeBoeuf ($204,648)
10. Weil Gotshal ($191,663)
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