Analytics company GlobalData, the parent company of Power Technology, has found that US multinational law firms Jones Day and Kirkland & Ellis were the top legal advisers in the power sector during the first half of 2023.
The data for mergers and acquisitions (M&A) legal advisers in H1 2023 shows that Jones Day advised on a cumulative $11.2bn of deals, more than any other firm. It is a sharp rise from H1 2022, when the company advised on $811m of deals, only enough to rank number 35 at the time.
Kirkland & Ellis, meanwhile, had worked on the most different deals, advising on 18 mergers and acquisitions. Although this is a 30.8% decrease on the 26 deals it advised on in H1 2022, the company still managed to maintain the number one spot it held at that time.
GlobalData lead analyst Aurojyoti Bose said of the table: “Although Kirkland & Ellis led by volume, it faced very close competition from Clifford Chance for the top position. Meanwhile, Jones Day was the clear winner as it was the only firm with more than $10bn in total deal value.”
Jones Day was followed in second place by Gibson, Dunn and Cutcher, which advised on $7.5bn worth of deals. Close behind was Skadden, Arps, Slate, Meagher & Flom with $7.4bn advised. While Kirkland & Ellis advised on 18 deals, more than any other, the cumulative $5.3bn value of those deals were only enough to secure fifth place on the value table.
Kirkland & Ellis was followed closely on the volume table by Clifford Chance in second, which advised on 17 deals. The company rose from seventh place in H1 2022. In third was CMS, which occupied second in H1 2022, with its tally of 20 deals last year falling to 15 this year. Dentons doubled its H1 2022 tally from 7 to 14 in H1 2023 to take fourth spot. Jones Day, despite leading the value category, did not rank in the top ten for volume with only nine deals advised.
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By GlobalDataGlobalData’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.
