Law Firms Find Work Abroad as U.S. Mergers Hit a Low

April 19, 2008 As the credit crisis drove first-quarter U.S. mergers and acquisitions down 54 percent to $248.1 billion from $536.3 billion last year, deal volume in Asia, Latin America, the Middle East and Africa rose 39 percent, from $77.2 billion to $107.2 billion, according to data compiled by Bloomberg.

The rise in overseas mergers and acquisitions as U.S. volume hits a five-year low has encouraged Wall Street law firms led by Cleary Gottlieb; Skadden, Arps, Slate, Meagher & Flom and Dewey & LeBoeuf to accelerate foreign expansion programs in place for a decade or more.


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