Legal Business

A robust year for M&A shows challenge for City leaders in competing with US rivals

With no single UK law firm having made a significant impact on the US market, it was no surprise that the Magic Circle surrendered more ground to their US peers in the annual M&A league tables for 2014, given the deal splurge US corporates have been on.

Freshfields Bruckhaus Deringer, Linklaters, Allen & Overy (A&O) and Clifford Chance (CC) all slipped down Thomson Reuters’ global adviser rankings for value of deals completed during 2014. Ironically, Slaughter and May, which markets to clients and US law firms for UK advisory spots on US deals, was the only Magic Circle firm to rise up the law firm rankings for global M&A, jumping from 28th to 12th.