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Global Mergers &Acquisitions ReviewFULL YEAR 2021 LEGAL ADVISORSAn LSEG Business
Global Mergers & Acquisitions ReviewFull Year 2021 Legal AdvisorsGlobal Announced M&AThousandsGlobal Deals IntelligenceWORLDWIDE DEAL MAKING REACHES US 5.9 TRILLION, BESTING FULL YEAR RECORDSWorldwide M&A activity totaled US 5.9 trillion during full year 2021, an increase of 64% compared toyear-ago levels and the strongest annual period for mergers & acquisitions since records began in 1980.The fourth quarter of 2021, which registered US 1.5 trillion in deals, marked the sixth consecutivequarter to surpass US 1 trillion, and ranks as the second largest quarter for worldwide M&A on record.By number of worldwide deals, over 63,000 deals were announced during the year, an increase of 24%compared to year ago levels and an all-time high.PRIVATE-EQUITY BACKED M&A HITS ALL-TIME HIGH; SPACs ACCOUNT FOR 10% OF VALUEPrivate Equity-backed buyouts accounted for 20% of M&A activity during full year 2021. Overall valuereached US 1.2 trillion, more than doubling year ago levels, as more than 14,500 private equity backeddeals were announced, an increase of 56% compared to last year. Special Purpose AcquisitionCompanies (SPAC) announced 335 initial business combinations during full year 2021, totalingUS 598.8 billion, or 10% of overall value.DEALS BETWEEN US 1-US 5 BILLION DOUBLE; MEGA DEALS UP 30%The value of worldwide M&A between US 1 and US 5 billion totaled US 1.9 trillion during full year 2021,an increase of 115% compared to a year ago and an all-time high. A record 55 deals greater US 10billion totaled US 1.1 trillion during the year, a 30% increase compared to full year 2020 and the highestperiod for mega deals, by value, in two years. 7,00070,000 6,00060,000 5,00050,000 4,00040,000 3,00030,000 2,00020,000 1,00010,000 002011CROSS-BORDER M&A SURPASSES US 2 TRILLION FOR FIRST TIMECross-border M&A activity totaled US 2.1 trillion during full year 2021, a 68% increase compared to ayear ago and the strongest annual period for cross-border M&A since records began. The Technology,Financials and Industrials sectors accounted for 39% of cross-border deals during full year 2021, up from38% a year ago.201220132014201520162017Full Year Deal Value (US bil)2018201920202021# of Deals, Full YearGlobal Announced M&A - Deal Size Composition (US bil) 7,000US TARGET M&A UP 82%, ACCOUNTS FOR 44% OF DEAL MAKINGM&A activity for US targets totaled US 2.6 trillion during full year 2021, an increase of 82% compared tothe level of activity seen during full year 2020 and the strongest annual period for US deal making onrecord. US deal making accounted for 44% of overall worldwide M&A during full year 2021, up from 39%a year ago.Greater than 5bil 1bil - 5bil 500mil - 1bilLess than 500mil 6,000 5,000EUROPEAN M&A UP 46%; ASIA PACIFIC TICKS UP 48%; AUSTRALIA M&A HITS ALL-TIME HIGHEuropean targets totaled US 1.4 trillion during full year 2021, an increase of 46% compared to 2020levels and a 14-year high. Asia Pacific deal making totaled US 1.3 trillion, a 48% increase and an alltime high, while M&A activity in Australia reached US 243.5 billion in announced deals, up more thanthree times compared to a year ago and an all-time high. 4,000 3,000ALL-TIME RECORD FOR TECH M&A; FINANCIALS, INDUSTRIALS ROUND OUT TOP SECTORSDeal making in the Technology sector totaled a record US 1.1 trillion during full year 2021, an increaseof 71% compared to 2020 levels and accounting for 20% of overall value. The number of technologydeals increased 34% compared to year ago levels. Financials M&A accounted for 13% of overall M&A,up 59% compared to a year ago. Industrials deal making accounted for 11% of activity during full year2021, an 56% increase compared to a year ago. 2,000 1,000 0FY 2011An LSEG Business1FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019FY 2020FY 2021
Global InsightsFull Year 2021 Mergers & Acquisitions Legal AdvisorsGlobal Announced AE1Legal AdvisorSullivan & CromwellLatham & WatkinsKirkland & EllisDavis Polk & WardwellWhite & Case LLPSimpson Thacher & BartlettSkaddenWachtell Lipton Rosen & KatzCravath, Swaine & MoorePaul, WeissFreshfields Bruckhaus DeringerHerbert Smith FreehillsWeil Gotshal & MangesFried Frank Harris Shriver & JacobsonGibson Dunn & CrutcherDebevoise & PlimptonAllen & OveryRopes & GraySidley Austin LLPClifford ChanceJones DayAlston & BirdBaker MckenzieGoodwin Procter LLPCleary Gottlieb Steen & HamiltonIndustry TotalYoY Change ( obal Completed AG1Legal AdvisorLatham & WatkinsSullivan & CromwellDavis Polk & WardwellKirkland & EllisFreshfields Bruckhaus DeringerSkaddenWachtell Lipton Rosen & KatzWhite & Case LLPSimpson Thacher & BartlettCleary Gottlieb Steen & HamiltonCravath, Swaine & MooreFried Frank Harris Shriver & JacobsonAllen & OveryWeil Gotshal & MangesPaul, WeissRopes & GrayLinklatersClifford ChanceGoodwin Procter LLPGibson Dunn & CrutcherDebevoise & PlimptonHerbert Smith FreehillsShearman & Sterling LLPAlston & BirdJones DayIndustry Total*Indicates a Tie64%ValueUS 186,307180,758176,718158,0715,857,375YoY Change ( )QoQ Change ( ueUS 169,273163,642157,332155,5864,399,661Mkt.Sh. .60.41.5-1.0-0.31.3-2.00.71.01.2-0.5-5.1QoQ Change ( h. .5-3.1-0.71.1-3.3-4.0-1.00.0-1.70.9-4.41.10.9-4%# 61243303163962904681814351,08313363,2155%# 532562421,0252058720417914145048,693Global Scorecard: Global Announced M&ATarget Region / NationWorldwideAmericasCaribbeanLatin AmericaBrazilMexicoNorth AmericaUnited StatesCanadaAfrica/Middle EastMiddle EastNorth AfricaSub-Saharan AfricaEuropeEastern EuropeWestern EuropeFranceGermanyUnited th East AsiaJapan01/01/2021 - 12/31/2021Value ( mil)# of 021,96299,5814,20801/01/2020 - 12/31/2020Value ( mil)# of 92YoY %Chg. ( )64% 86% 97% 146% 145% 235% 83% 82% 111% 180% 104% 395% 492% 46% -2% 50% 40% 48% 54% 48% 296% 4% 58% 104% 56% -23% YoY %Chg. (#)24% 22% 7% 34% 30% 56% 21% 23% 11% 40% 63% 26% 21% 34% 5% 40% 63% 34% 57% 17% 35% 18% 26% -3% 28% 17% 01/01/2020 - 12/31/2020Value ( mil)# of 76063,07694330,31633363,387969124,1612,754YoY %Chg. ( )42% 56% 100% 113% 214% -41% 54% 53% 102% 21% -21% 254% 460% 51% -43% 64% 108% 28% 219% 14% 100% -19% 25% 128% 26% -22% YoY %Chg. (#)25% 20% 13% 33% 26% 38% 19% 20% 13% 43% 72% 31% 12% 30% 3% 35% 57% 26% 48% 26% 35% 32% 44% 2% 47% 18% Global Scorecard: Global Completed M&ATarget Region / NationWorldwideAmericasCaribbeanLatin AmericaBrazilMexicoNorth AmericaUnited StatesCanadaAfrica/Middle EastMiddle EastNorth AfricaSub-Saharan AfricaEuropeEastern EuropeWestern EuropeFranceGermanyUnited th East AsiaJapanAn LSEG Business201/01/2021 - 12/31/2021Value ( mil)# of 3,258
Global RankingsFull Year 2021 Mergers & Acquisitions Legal AdvisorsGlobal Principal Advisors AnnouncedLegal AdvisorKirkland & EllisLatham & WatkinsWachtell Lipton Rosen & KatzSkaddenSimpson Thacher & BartlettSullivan & CromwellPaul, WeissWhite & Case LLPHerbert Smith FreehillsFreshfields Bruckhaus DeringerDavis Polk & WardwellWeil Gotshal & MangesCravath, Swaine & MooreClifford ChanceAllen & OveryRopes & GrayGoodwin Procter LLPDebevoise & PlimptonSidley Austin LLPBaker MckenzieHogan LovellsDLA Piper LLPLinklatersJones DayKing & Wood MallesonsIndustry 2425YoY Change ( 864%ValueUS 156,892152,904152,484142,5525,857,559QoQ Change ( )-4%MarketMkt.# ofShare Sh. Chg -0.53082.9-0.3 52.6-5.03122.60.14632.4-0.1160100.063,218Global Principal Advisors CompletedLegal AdvisorLatham & WatkinsKirkland & EllisWachtell Lipton Rosen & KatzSkaddenFreshfields Bruckhaus DeringerSimpson Thacher & BartlettWhite & Case LLPAllen & OverySullivan & CromwellDavis Polk & WardwellPaul, WeissCravath, Swaine & MooreCleary Gottlieb Steen & HamiltonLinklatersClifford ChanceGoodwin Procter LLPWeil Gotshal & MangesRopes & GrayJones DayHerbert Smith FreehillsSlaughter and MayBaker MckenzieDavies Ward Phillips & Vineberg LLPShearman & Sterling LLPWillkie Farr & GallagherIndustry 2425YoY Change ( 2Top Global Announced M&A Transactions42%ValueUS 126,157121,490117,488111,7504,402,616QoQ Change ( )5%MarketMkt.# ofShare Sh. Chg 0.6 lobal AnnouncedIncluding Withdrawn AE71Legal AdvisorSullivan & CromwellLatham & WatkinsKirkland & EllisWhite & Case LLPDavis Polk & WardwellSimpson Thacher & BartlettWachtell Lipton Rosen & KatzSkaddenFreshfields Bruckhaus DeringerCravath, Swaine & MoorePaul, WeissHerbert Smith FreehillsWeil Gotshal & MangesFried Frank Harris Shriver & JacobsonSidley Austin LLPGibson Dunn & CrutcherDebevoise & PlimptonRopes & GrayAllen & OveryLinklatersJones DayBaker MckenzieClifford ChanceDavies Ward Phillips & Vineberg LLPCleary Gottlieb Steen & HamiltonIndustry TotalYoY Change ( 4%ValueUS 190,911188,018187,585187,4416,274,021QoQ Change ( )Global Announced M&A - Macro Industry CompositionRank DateTarget NameTarget NationValue ( mil)Acquiror NameAcquiror Nation8/17/21BHP Group PLCUnited Kingdom86,203.5BHP Group LtdAustralia5/17/21Warner Media LLCUnited States65,320.0Discovery IncUnited States4/14/21VMware IncUnited States51,259.5ShareholdersUnited States5/12/21Naspers LtdSouth Africa44,106.6Naspers LtdSouth AfricaHigh Technology11/21/21Telecom Italia SpAItaly40,028.8KKR & Co IncUnited StatesFinancials7/12/21MSP Recovery LLCUnited States32,500.0Lionheart Acquisition Corp IIUnited StatesIndustrials9/21/21Universal Music Group NVUnited States32,017.9ShareholdersFranceEnergy and Power3/10/21GE Capital Aviation Svcs IncUnited States31,244.0AerCap Holdings NVIreland-RepReal Estate4/13/21Grab Holdings IncSingapore31,103.6Altimeter Growth CorpUnited StatesOther3/21/21Kansas City SouthernUnited States30,845.9Canadian Pacific Railway Ltd Canada12/20/21Cerner CorpUnited States29,225.9Oracle CorpUnited States8/2/21Afterpay LtdAustralia27,695.9Square IncUnited States 1,149.0 2,180.913,76828,1396,349 736.97,7773,447 3,735 541.1 609.3*Indicates a TieAn LSEG Business3-9%MarketMkt.# ofShare Sh. Chg 56 640.3Outer Ring: Value (US bil)Inner Ring: # of Deals
Global RankingsFull Year 2021 Mergers & Acquisitions Legal AdvisorsGlobal Announced AE1 - Based onNumber of DealsLegal AdvisorGoodwin Procter LLPKirkland & EllisLatham & WatkinsDLA Piper LLPWilson Sonsini Goodrich & RosatiCMSWhite & Case LLPJones DayBaker MckenzieWillkie Farr & GallagherSidley Austin LLPFreshfields Bruckhaus DeringerAllen & OveryMorgan Lewis & BockiusOrrick Herrington & Sutcliffe LLPWeil Gotshal & MangesMcGuireWoods LLPRopes & GrayLinklatersSkaddenFasken Martineau DuMoulin LLPHogan LovellsClifford ChanceGowling WLGCooley LLPIndustry 2425Global Principal Advisors Announced Based on Number of DealsLegal AdvisorGoodwin Procter LLPKirkland & EllisLatham & WatkinsDLA Piper LLPWilson Sonsini Goodrich & RosatiCMSJones DayWhite & Case LLPBaker MckenzieWillkie Farr & GallagherSidley Austin LLPFreshfields Bruckhaus DeringerMorgan Lewis & BockiusAllen & OveryOrrick Herrington & Sutcliffe LLPWeil Gotshal & MangesLinklatersRopes & GrayMcGuireWoods LLPFasken Martineau DuMoulin LLPSkaddenHogan LovellsGowling WLGClifford ChanceCooley LLPIndustry Total*Indicates a 2425YoY Change (#)Rank# of2020 Deals2 298102902628722*27663,215YoY Change ( )Rank# of2020 Deals2 13295262851028421*27563,21824%QoQ Change (#)-6%Global Completed AG1 - Based onNumber of DealsMarketMkt.ValueShare Sh. ChgUS 90.50.114,1880.40.0149,675100.05,857,375Legal AdvisorGoodwin Procter LLPLatham & WatkinsKirkland & EllisDLA Piper LLPWilson Sonsini Goodrich & RosatiJones DayCMSWhite & Case LLPBaker MckenzieWillkie Farr & GallagherSidley Austin LLPMcGuireWoods LLPMorgan Lewis & BockiusOrrick Herrington & Sutcliffe LLPFasken Martineau DuMoulin LLPAllen & OveryGowling WLGLinklatersRopes & GrayHogan LovellsFreshfields Bruckhaus DeringerWeil Gotshal & MangesClifford ChanceMcDermott Will & EmerySkaddenIndustry Total24%Global Principal Advisors Completed Based on Number of DealsQoQ Change ( )-6%MarketMkt.ValueShare Sh. ChgUS 0.50.0182,2890.40.0118,572100.05,857,559Legal AdvisorGoodwin Procter LLPLatham & WatkinsKirkland & EllisDLA Piper LLPWilson Sonsini Goodrich & RosatiJones DayCMSWhite & Case LLPBaker MckenzieWillkie Farr & GallagherSidley Austin LLPMorgan Lewis & BockiusMcGuireWoods LLPOrrick Herrington & Sutcliffe LLPFasken Martineau DuMoulin LLPAllen & OveryGowling WLGLinklatersHogan LovellsRopes & GrayWeil Gotshal & MangesClifford ChanceFreshfields Bruckhaus DeringerMcDermott Will & EmeryOsler Hoskin & Harcourt LLPIndustry 22*2425YoY Change (#)Rank# of2020 Deals1 024914242242361922348,693YoY Change ( )Rank# of2020 Deals1 4237152372323630*21048,695An LSEG Business425%QoQ Change (#)-13%MarketMkt.ValueShare Sh. ChgUS 25,3670.50.4416,967100.04,399,66125%QoQ Change ( )-13%MarketMkt.ValueShare Sh. ChgUS 125,3670.40.086,226100.04,402,616Global Announced IncludingWithdrawn AE71 - Based on Number ofLegal AdvisorGoodwin Procter LLPKirkland & EllisLatham & WatkinsDLA Piper LLPWilson Sonsini Goodrich & RosatiCMSWhite & Case LLPJones DayBaker MckenzieWillkie Farr & GallagherSidley Austin LLPFreshfields Bruckhaus DeringerAllen & OveryMorgan Lewis & BockiusSkaddenOrrick Herrington & Sutcliffe LLPWeil Gotshal & MangesLinklatersRopes & GrayMcGuireWoods LLPFasken Martineau DuMoulin LLPHogan LovellsClifford ChanceGowling WLGCooley LLPIndustry 2232425YoY Change (#)Rank# of2020 Deals2 991029326*2882327863,65623%QoQ Change (#)-6%MarketMkt.ValueShare Sh. ChgUS 80.50.114,4490.40.0165,991100.06,274,021
Global InsightsFull Year 2021 Mergers & Acquisitions Legal AdvisorsGlobal Rank Value to EBITDA Exit MultiplesExit Multiples - 2021 Average Rank Value to EBITDA by Macro erProd/Servs10.0xFY 2011FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019FY 2020ConsumerStaplesGlobalFY 2021Global Bid Premium to 4-Week Stock PriceEnergy &PowerHealthcareGlobal LYTechnologyAmericasIndustrialsMaterialsAsia ex. JapanMedia &Real msEMEABid Premium - 2021 Avg Premium to 4 Week Stock Price by Macro Industry60%40%50%35%40%30%30%25%20%10%20%0%15%FY 2011FY 2012FY 2013FY 2014FY 2015FY 2016FY 2017FY 2018FY 2019FY 2020FY GlobalAn LSEG Business5Energy &PowerHealthcareGlobal LYTechnologyAmericasIndustrialsMaterialsAsia ex. JapanMedia &Real EstateEntertainmentJapanEMEA
atAmericas InsightsFull Year 2021 Mergers & Acquisitions Legal AdvisorsThousandsUnited States M&A Deal Flow (US bil)Top Any Involvement Americas Deals 3,500100%90% 3,000Rank DateTarget NameTarget NationAcquiror NameAcquiror Nation05/17/21Warner Media LLCUnited StatesValue ( mil)65,320.0Discovery IncUnited States04/14/21VMware IncUnited States51,259.5ShareholdersUnited States80% 2,500 2,000 1,50007/12/21MSP Recovery LLCUnited States32,500.0Lionheart Acquisition Corp IIUnited States70%09/21/21Universal Music Group NVUnited States32,017.9ShareholdersFrance60%03/10/21GE Capital Aviation Svcs IncUnited States31,244.0AerCap Holdings NVIreland-Rep50%03/21/21Kansas City SouthernUnited States30,845.9Canadian Pacific Railway Ltd Canada12/20/21Cerner CorpUnited States29,225.9Oracle CorpUnited States03/15/21Shaw Communications IncCanada21,896.3Rogers Communications IncCanada04/15/21PPD IncUnited States20,728.4Thermo Fisher Scientific IncUnited States04/12/21Nuance Communications IncUnited States17,599.9Microsoft CorpUnited States11/22/21Athenahealth IncUnited States17,000.0Athenahealth Inc SPVUnited StatesUnited StatesUnited States40%30% 1,00020% 50010% 00%FY 2012FY 2013FY 2014US DomesticFY 2015FY 2016US InboundFY 2017FY 2018US OutboundFY 2019FY 2020Ginkgo Bioworks IncUnited States16,581.804/29/21VEREIT IncUnited States16,395.8Realty Income CorpFY 2021Domestic % of Total US M&AAmericas M&A Financial Sponsor Activity (US bil)Thousands05/11/21Soaring Eagle AcquisitionCorpAmericas Announced M&A - Macro Industry Composition 3,00030% 2,50025% 908.6 2,00020% 1,50015% 733.77,4065,243High TechnologyFinancialsHealthcareIndustrials 1,000Media and Entertainment10%Other 5001,008 255.65% 00%FY 2012FY 2013FY 2014FY 2015Financial Sponsor ActivityFY 2016FY 2017Non-FS ActivityFY 2018FY 2019FY 20202,188 271.5FY 2021FS % of Total Americas M&AAn LSEG Business62,325 360.52,463 325.3Outer Ring: Value (US bil)Inner Ring: # of Deals
Americas RankingsFull Year 2021 Mergers & Acquisitions Legal AdvisorsAny US Involvement Announced AE33Legal AdvisorSullivan & CromwellKirkland & EllisLatham & WatkinsSimpson Thacher & BartlettDavis Polk & WardwellWhite & Case LLPSkaddenWachtell Lipton Rosen & KatzPaul, WeissCravath, Swaine & MooreWeil Gotshal & MangesFried Frank Harris Shriver & JacobsonFreshfields Bruckhaus DeringerGibson Dunn & CrutcherDebevoise & PlimptonRopes & GraySidley Austin LLPAlston & BirdJones DayGoodwin Procter LLPBaker MckenzieCooley LLPWillkie Farr & GallagherHogan LovellsCleary Gottlieb Steen & HamiltonIndustry 2425Any US Involvement Completed AG34Legal AdvisorLatham & WatkinsKirkland & EllisSullivan & CromwellWachtell Lipton Rosen & KatzSkaddenDavis Polk & WardwellSimpson Thacher & BartlettWhite & Case LLPFreshfields Bruckhaus DeringerFried Frank Harris Shriver & JacobsonCravath, Swaine & MooreCleary Gottlieb Steen & HamiltonWeil Gotshal & MangesPaul, WeissDebevoise & PlimptonGibson Dunn & CrutcherGoodwin Procter LLPAlston & BirdRopes & GrayWillkie Farr & GallagherJones DayBaker MckenzieCooley LLPSidley Austin LLPDavies Ward Phillips & Vineberg LLPIndustry Total*Indicates a 25YoY Change ( ValueUS 148,263140,436135,693123,5383,406,297YoY Change ( 087%-11%MarketMkt.# ofShare Sh. Chg .021,05760%ValueUS 120,931116,344104,450102,7312,749,078QoQ Change ( )QoQ Change ( )7%MarketMkt.# ofShare Sh. Chg 246100.018,058US Target Announced AE2Legal AdvisorSullivan & CromwellSimpson Thacher & BartlettKirkland & EllisLatham & WatkinsWachtell Lipton Rosen & KatzDavis Polk & WardwellPaul, WeissWhite & Case LLPSkaddenCravath, Swaine & MooreFried Frank Harris Shriver & JacobsonWeil Gotshal & MangesGibson Dunn & CrutcherAlston & BirdDebevoise & PlimptonSidley Austin LLPFreshfields Bruckhaus DeringerRopes & GrayGoodwin Procter LLPWillkie Farr & GallagherHogan LovellsCleary Gottlieb Steen & HamiltonCooley LLPJones DayVinson & Elkins LLPIndustry TotalYoY Change ( US Target Completed AG2Legal AdvisorWachtell Lipton Rosen & KatzLatham & WatkinsSullivan & CromwellKirkland & EllisSkaddenSimpson Thacher & BartlettDavis Polk & WardwellFried Frank Harris Shriver & JacobsonWhite & Case LLPCravath, Swaine & MooreWeil Gotshal & MangesPaul, WeissFreshfields Bruckhaus DeringerCleary Gottlieb Steen & HamiltonGibson Dunn & CrutcherAlston & BirdGoodwin Procter LLPDebevoise & PlimptonWillkie Farr & GallagherRopes & GrayDavies Ward Phillips & Vineberg LLPVinson & Elkins LLPJones DaySidley Austin LLPCooley LLPIndustry 2431ValueUS 106,23494,57889,57087,3612,552,735YoY Change ( n LSEG Business782%-14%MarketMkt.# ofShare Sh. Chg ,85152%ValueUS 3,25482,14180,93279,1662,186,464QoQ Change ( )QoQ Change ( )5%MarketMkt.# ofShare Sh. Chg 6100.013,830Any CanadianInvolvement Announced AE34Legal AdvisorOsler Hoskin & Harcourt LLPDavies Ward Phillips & Vineberg LLPWachtell Lipton Rosen & KatzSullivan & CromwellBlake Cassels & GraydonDavis Polk & WardwellMcCarthy TetraultFasken Martineau DuMoulin LLPWhite & Case LLPTorysGoodmansBurnet Duckworth & PalmerLatham & WatkinsStikeman ElliottFreshfields Bruckhaus DeringerDentons Canada LLPBennett JonesWillkie Farr & GallagherFried Frank Harris Shriver & JacobsonWilmerHaleBaker & Miller PLLCLaw Office of David L MeyerKirkland & EllisHerbert Smith FreehillsNorton Rose FulbrightIndustry TotalYoY Change ( k202023063182315376*401764264420162225114759Any CanadianInvolvement Completed AG35Legal AdvisorBlake Cassels & GraydonDavies Ward Phillips & Vineberg LLPFreshfields Bruckhaus DeringerOsler Hoskin & Harcourt LLPSullivan & CromwellWhite & Case LLPStikeman ElliottBennett JonesDavis Polk & WardwellFried Frank Harris Shriver & JacobsonMcCarthy TetraultWachtell Lipton Rosen & KatzNorton Rose FulbrightWillkie Farr & GallagherWilmerHaleBaker & Miller PLLCLaw Office of David L MeyerLatham & WatkinsPaul, WeissTorysFasken Martineau DuMoulin LLPBurnet Duckworth & PalmerGoodmansCleary Gottlieb Steen & HamiltonClifford ChanceIndustry Total135%ValueUS 660349,026YoY Change ( )118%ValueUS 290250,263QoQ Change ( )17%MarketMkt.# ofShare Sh. Chg 818.88.816.51.1616.50.2136.5-8.156100.04,565QoQ Change ( )72%MarketMkt.# ofShare Sh. Chg 62346.96.776.6-3.7186.46.476.14.914100.03,447
Americas RankingsFull Year 2021 Mergers & Acquisitions Legal AdvisorsAny US Involvement Announced AE33 Based on Number of DealsLegal AdvisorGoodwin Procter LLPKirkland & EllisLatham & WatkinsWilson Sonsini Goodrich & RosatiDLA Piper LLPSidley Austin LLPJones DayWillkie Farr & GallagherMcGuireWoods LLPMorgan Lewis & BockiusRopes & GrayWhite & Case LLPCooley LLPSkaddenWeil Gotshal & MangesPaul, WeissSimpson Thacher & BartlettGibson Dunn & CrutcherOrrick Herrington & Sutcliffe LLPMcDermott Will & EmerySullivan & CromwellDavis Polk & WardwellBaker MckenzieAlston & 4Industry TotalRank# of2020 1222*1912418
Worldwide M&A activity totaled US 5.9 trillion during full year 2021, an increase of 64% compared to year-ago levels and the strongest annual period for mergers & acquisitions since records began in 1980.
