Weil, Gotshal & Manges advised on $90.8 billion in announced mergers and acquisitions in the first quarter of 2010 to top all law firms. Reuters reports an improved credit market and more risk taking has led to a rebound in the M&A market.
Weil Gotshal’s advisements included the biggest in the quarter, a $35.5-billion takeover of American International Group Inc’s Asian life insurance unit by Britain’s Prudential Plc. Frederick Green, co-chairman of Weil’s M&A practice, commented on the state of the market.
“You are seeing the effects of pent-up demand after a lengthy period of very slow M&A activity, coupled with a strong equity market,” Green told Reuters. “That has led to a marked increase in the number of stock-for-stock mergers, where the buyer’s stock is used as acquisition currency.”
Coming in second in transactions with $88 billion was Wachtell, Lipton, Rosen & Katz. It is followed by Cleary Gottlieb Steen & Hamilton ($80 billion), Davis Polk & Wardwell ($77.2 billion).
Skadden, Arps, Slate, Meagher & Flom LLP which ranked first last year, came in eighth. Weil ranked 10th last year.
Posted by joshua
on March 26, 2010. Filed under Home,Law Firm News,Legal News.
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