GlobalData, a leading data and analytics company, has revealed its league tables for top 10 legal advisers by value and volume in global power sector for 2020 in its report, ‘Global and Power M&A Review & Financial Adviser League tables’.
According to GlobalData’s M&A report, a total of 2,033 M&A deals were announced in the sector during 2020, marking a 18.3% decrease over the 2,487 deals announced in 2019. The deal value increased by 1% from $272bn in 2019 to $275bn in 2020.
Top Advisers by Value and Volume
Davis Polk & Wardwell and CMS were the top mergers and acquisitions (M&A) legal advisers in the global power sector for 2020 by value and volume, respectively. Davis Polk & Wardwell advised on five deals worth $31.4bn, which was the highest value among all the advisers. Meanwhile, CMS led in volume terms having advised on 41 deals worth $5.8bn.
GlobalData lead analyst Aurojyoti Bose said: “Davis Polk & Wardwell advised on three billion-dollar deals worth greater than or equal to $1bn including a mega deal (deal valued more than or equal to $10bn). Despite relatively fewer deals, involvement in these high-value transactions helped the firm top the chart by value. In fact, Davis Polk & Wardwell was the only firm to surpass $30bn.
“Meanwhile, CMS was the only firm to advise on more than 40 deals, but surprisingly, it did not rank among the list of top 10 advisors by value due to its involvement in fewer high-value transactions. It managed to advise on two billion-dollar deals, but lacked any mega deal.”
Cleary Gottlieb Steen & Hamilton occupied the second position in GlobalData’s ranking of legal advisers for M&As in the global power sector by value with five deals worth $26.9bn, followed by Latham & Watkins with 18 deals worth $19.7bn and Linklaters with 25 deals worth $18.8bn.
Watson Farley & Williams held the second spot by volume with 39 deals worth $6.1bn followed by White & Case with 29 deals worth $5.7bn and Clifford Chance with 28 deals worth $16.5bn.
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 from leading advisers, through adviser submission forms on GlobalData’s website.