Allen & Overy and White & Case have emerged as the top mergers and acquisitions (M&A) legal advisers in the Middle East & African region in terms of value and volume, respectively, for quarters one to three (Q1–Q3) 2023, according to GlobalData’s latest league table.

Leading data and analytics company GlobalData ranks advisers in terms of the value and volume of M&A deals on which they advised.

According to GlobalData’s Financial Deals Database, Allen & Overy took the top spot in the value table by advising on $8.9bn worth of deals.

White & Case led the volume table with a total of 12 deals.

GlobalData lead analyst Aurojyoti Bose said: “White & Case was the top adviser by volume in Q1-Q3 2022 and managed to retain its leadership by this metric in Q1-Q3 2023 as well. It was the only adviser with double-digit deal volume during Q1-Q3 2023. Apart from leading by volume, White & Case also occupied the second position by value.

“Meanwhile, Allen & Overy experienced an improvement in its ranking by value during Q1-Q3 2023 compared to Q1-Q3 2022. Interestingly, despite witnessing a decline in deal volume, Allen & Overy saw a massive jump in deal value. The average value of deals advised by it increased from $221.7m in Q1-Q3 2022 to $1.5bn in Q1-Q3 2023. Apart from leading by value, it also occupied the second position by volume.”

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By GlobalData

In the value table, White & Case got second place by advising on $7.7bn worth of deals, followed by Latham & Watkins with $4.9bn, Arthur Cox with $3.6bn, and Fangda Partners with $3.6bn.

Allen & Overy secured the second spot in the volume table with six deals, followed by Asafo & Co. with five deals.

In terms of volume, Baker McKenzie and Nortons Incorporated together took the fourth place with five deals each.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory company websites and other reliable sources available in the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.​

To ensure further robustness of the data, the company also seeks deal submissions from leading advisers.