Kirkland & Ellis was the leading M&A legal adviser based on deal value in Q1 2020, having advised on four deals worth US$4.9bn, according to GlobalData, a leading data and analytics company.

GlobalData, which tracks all M&A, private equity/venture capital and asset transaction activity around the world confirmed that Allen & Overy finished at second position with three deals worth US$4.7bn and Baker Botts was third with five deals worth US$3.3bn.

Aurojyoti Bose, Financial Deals Analyst at GlobalData, says: “Involvement in big-ticket deals helped Kirkland & Ellis occupy the top spot. It also stood at fourth position in terms of volume. Seven out of the top ten advisers by value also made it to the list of top ten advisers by volume.” 

Kirkland & Ellis, which topped the oil and gas deals league table by value, stood at fifth position in the recently released global league table of top 20 M&A legal advisers by GlobalData.

Baker Botts leads by volume

Baker Botts was the top M&A legal adviser for the oil and gas sector based on deal volume in Q1 2020. The firm advised on five deals worth US$3.3bn.

Jones Day occupied the second position with five transactions worth US$3.1bn, followed by Vinson & Elkins with five deals worth US$270m.

Bose adds: “Baker Botts, which led in terms of volume, also occupied the third position in terms of value. The top list by volume and value had many players in common. Only three out of the top ten advisers by volume failed to make it to the list of top ten advisers by value.”

Global oil and gas deals market in 2020

On the back of the COVID-19 outbreak, which has added further woes to an industry already facing challenges related to oversupply and declining prices, deal activity dwindled and the oil and gas sector witnessed a decline of 40.84% in deal value from US$43.5bn in Q1 2019 to US$25.7bn in Q1 2020. Deal volume decreased by 32.56% from 516 to 348.