U.S. Loses Ground in Law-Firm League Tables

January 4, 2008 New York-based Sullivan & Cromwell has led the global M&A advisory rankings each year since 2003. So its No. 1 position in 2007 was hardly a surprise. More notable, perhaps, was the big jump by Allen & Overy, which is based in London. That firm didn’t make the top 10 in 2006, as measured by the dollar volume of deals in which it advised a buyer or seller. But it took second place in 2007. In part, at least, the jump may reflect how merger activity has shifted its focus away from the United States in the last year.

Skadden Arps Slate Meagher & Flom, a New York-based firm that ranked second in the 2006 league tables, dropped to ninth place in 2007. Wachtell Lipton Rosen & Katz was another United States firm that fared well in the latest leagues. It ranked fourth, up from fifth place last year, advising on deals valued at nearly $358 billion, Bloomberg said.

Read more at dealbook.nytimes.com.

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