Allen & Overy and Watson Farley & Williams were the top mergers and acquisitions (M&A) legal advisers in the global power sector in the first half (H1) of 2020, based on deal value and volume, respectively., according to GlobalData.
Allen & Overy advised on 11 deals worth $8.4bn, which was the highest among all the advisers. Watson Farley & Williams led in volume terms having advised on 17 deals worth $3.7bn.
GlobalData financial deals analyst Aurojyoti Bose said: “Watson Farley & Williams held the top spot in terms of deal volume but lagged behind many of its peers in terms of value. Surprisingly, it did not feature among the top ten by value – even though firms such as Wachtell Lipton Rosen & Katz (which only advised on one deal) were able to make to the list.
“Involvement in big-ticket deals remains the key, helping Allen & Overy gain top place by value. The average deal size of transactions advised by Allen & Overy stood at $767.9m whereas Watson Farley & Williams saw only $218.9m.”
Simpson Thacher & Bartlett stood at second place by value with four deals worth $6.7bn followed by Slaughter and May with three deals worth $6.4bn.
Baker McKenzie occupied the second position by volume with 14 deals worth $4.9bn followed by Linklaters with 12 deals worth $5.7bn.
The number of deals announced in the global power sector declined by 30.5% from 1,345 in H1 2019 to 935 in H1 2020. Deal value decreased by 19.9% from $109.4bn to $87.6bn.
Allen & Overy, which topped the power sector deals league table by value, occupied seventh position (by value) in the GlobalData’s global league table of top 20 M&A legal advisers.
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.