1. Deals Analysis
April 23, 2020

Top ten retail M&A legal advisers for Q1 2020 revealed

Allen & Overy was the leading legal adviser globally for mergers and acquisitions (M&A) in the retail sector in the first quarter (Q1) of 2020, according to GlobalData.

Allen & Overy was the leading legal adviser globally for mergers and acquisitions (M&A) in the retail sector in the first quarter (Q1) of 2020, according to GlobalData.

The UK-based law firm advised on four deals worth $12.12bn. Allen & Overy finished at the top position in GlobalData’s recently released Q1 2020 ranking of top 20 global legal advisers for M&A.

In Q1 2020, Freshfields Bruckhaus Deringer and Linklaters jointly occupied the second position with two deals worth $12.1bn.

GlobalData financial deals analyst Aurojyoti Bose says: “These three firms were involved in two of the three billion-dollar deals (>=$1bn) and outpaced the other firms by a huge margin. Allen & Overy, Freshfields Bruckhaus Deringer and Linklaters were also involved in the US$10.6bn Charoen Pokphand Group’s acquisition of Tesco’s operations in Thailand and Malaysia.”

The retail sector saw an increase in deal value while volumes declined in Q1 2020 compared with Q1 2019. The deal value increased from $20.2bn in Q1 2019 to $30.2bn in Q1 2020. Deal volume declined by 9.71% from 577 to 521.

Jones Day tops by volume

Jones Day was the top legal adviser for the retail sector based on deal volume in Q1 2020. The firm advised on five deals worth $139m. In the second place was CMS with five transactions worth $40m.

Bose adds: “Although Jones Day led in terms of volume, it lagged in terms of value. CMS also lagged in this area and did not feature among the top ten firms by value.”

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.

Verdict deals analysis methodology

This analysis considers only announced and completed deals from the GlobalData financial deals database and excludes all terminated and rumoured deals. Country and industry are defined according to the headquarters and dominant industry of the target firm. The term ‘acquisition’ refers to both completed deals and those in the bidding stage.

GlobalData tracks real-time data concerning all merger and acquisition, private equity/venture capital and asset transaction activity around the world from thousands of company websites and other reliable sources.

More in-depth reports and analysis on all reported deals are available for subscribers to GlobalData’s deals database.