Kirkland & Ellis has emerged as the top mergers and acquisitions (M&A) legal adviser in the technology, media, and telecom (TMT) sector for 2023, both in terms of deal value and volume, as per GlobalData’s latest legal advisers league table.
According to an analysis of deals database by GlobalData, a prominent data and analytics company and the parent of Verdict, Kirkland & Ellis secured the leading position by advising on a total of 121 M&A deals, which amounted to approximately $144.1bn.
GlobalData lead analyst Aurojyoti Bose said: “Kirkland & Ellis was the only adviser with triple-digit deal volume in 2023. The firm has continued to dominate the TMT M&A landscape by volume and it is noteworthy that Kirkland & Ellis was also the top adviser by volume in 2022.
“Kirkland & Ellis also managed to solidify its position in terms of value in 2023 with its ranking by this metric taking a major leap from 11th position in 2022 to the top position in 2023. It advised on a total 24 billion-dollar deals (valued more than or equal to $1bn), during the year that included four mega deals valued more than $10bn.”
GlobalData’s deals database further indicated that Latham & Watkins held the second spot in the value rankings, having advised on M&A deals worth $109.4bn.
Latham & Watkins was followed by Skadden, Arps, Slate, Meagher & Flom for advising on deals totalling $81.2bn.
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The fourth and fifth positions were secured by Simpson Thacher & Bartlett for advising on deals worth $79.6bn and Cravath Swaine & Moore with $62.3bn worth deals, respectively.
In terms of deal volume, Latham & Watkins also secured the second position with 69 deals. White & Case was close behind with 66 deals.
Wilson Sonsini Goodrich & Rosati and Baker McKenzie were also key players in the TMT sector’s M&A activities, advising on 59 and 58 deals, respectively.
GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on 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 to the data, the company also seeks submissions of deals from leading advisers.