Global M&A volume dropped for 2016 following its record high the year before, and with it Magic Circle firms Linklaters and Clifford Chance have been knocked out of Dealogic’s top ten European attorney rankings.
After three year-on-year increases, last year’s global M&A volume dropped to $3.84trn from 2015’s record $4.66trn. Global attorney rankings for corporate advisory work show Sullivan & Cromwell took out the top spot last year, advising on 106 deals worth $408.5bn pushing Skadden, Arps, Slate, Meagher & Flom down to three with the firm advising on 293 deals worth over $1trn in 2015. For 2016, year Skadden sits in the number three spot ($341.1bn) while Wachtell, Lipton, Rosen & Katz sits at number two ($389bn).
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