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FLSHWIRE US MONTHLY

Flashwire Advisor Quarterly

4th Quarter 2018 Top Advisors M&A Market Index 2 Deal Volume 4 Global 5 United States 7 US Middle Market 9 Europe 11 United Kingdom 13 Asia ex-Japan 15 Japan 17 US Activism and Defense 18



4th Quarter 2018

The Global Mergers & Acquisitions Market Index

The US Mergers & Acquisitions Market Index

2,851 3,055 3,118 3,268 3,148 2,738 3,082 3,041 3,081 3,275 3,224 2,883 2,900 3,355 2,947 2,928

$243.3

$200.8 $196.6

$427.3

$305.8 $298.9

$480.9

$354.6 $338.7

$210.9

$246.9 $234.0

$188.9

$246.5

$207.8

$174.8

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

$0.0

$100.0

$200.0

$300.0

$400.0

$500.0

$600.0

Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18

Deal Volume Aggregate Deal Value

910 1,070 1,049 931 1,146 950 1,026 1,090 1,166 1,239 1,193 1,116 1,069 1,265 1,039 951

$115.9

$120.5 $118.3

$287.0

$197.3

$148.3

$207.9

$259.5

$187.6

$141.4

$144.4

$162.6

$105.0

$168.4

$127.5

$93.3

0

200

400

600

800

1,000

1,200

1,400

$0.0

$50.0

$100.0

$150.0

$200.0

$250.0

$300.0

$350.0





4th Quarter 2018

The European Mergers & Acquisitions Market Index

Asia Mergers & Acquisitions Market Index

1,280 1,445 1,392 1,420 1,460 1,234 1,335 1,317 1,330 1,481 1,464 1,055 1,285 1,478 1,283 1,295

€ 59.4

€ 59.6

€ 45.7

€ 114.6

€ 107.6

€ 144.6

€ 214.2

€ 133.6 € 126.9

€ 65.8

€ 89.8

€ 38.2

€ 58.1 € 63.8

€ 62.8

€ 76.3

€ -

€ 50.0

€ 100.0

€ 150.0

€ 200.0

€ 250.0

0

200

400

600

800

1,000

1,200

1,400

1,600


932 876 963 1,188 821 805 1,010 925 913 920 889 983 841 967 879 997

$67.8 $62.7

$64.7

$104.4

$81.1 $78.3

$174.9

$131.6

$143.8

$63.7

$83.2

$66.2 $68.1 $71.0

$61.2

$61.2

0

200

400

600

800

1,000

1,200

1,400

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200





4th Quarter 2018

Europe: Deal Volume by Country

Asia: Deal Volume by Country

769 748

695 716

831

746

809

743

836

754

688 665

594

660 662

593 569 541

1,331

1,217 1,238

1,142 1,180

1,110 1,145

1,092 1,123

1

0

200

400

600

800

1,000

1,200

1,400

4q16 1q17 2q17 3q17 4q17 1q18 2q18 3q18 4q18

France Germany United Kingdom

413

332 343 373

397

304 339

369 318

1,088

787

963

1,123

1,324

1,073

1,127 1,125

1,228

228 233

177 177 177

264 231 231

206

463 464 493

538 557 552

497

562 583

0

200

400

600

800

1,000

1,200

1,400

4q16 1q17 2q17 3q17 4q17 1q18 2q18 3q18 4q18

Australia China/HK India Japan



4th Quarter 2018

* Transaction Value is the aggregate base equity plus the target’s net debt, where applicable.

Financial Advisor Transaction

Value ($Mil) * Total

Deals**

1. Goldman Sachs & Co. $924,554.8 327

2. Morgan Stanley 895,538.2 233

3. JPMorgan Chase & Co 818,432.0 304

4. Citigroup 598,254.8 222

5. Bank of America Merrill Lynch 465,533.8 180

6. Barclays Plc 415,973.8 181

7. Credit Suisse 388,367.3 185

8. Evercore, Inc. 359,092.5 154

9. Lazard 344,411.8 204

10. Deutsche Bank AG 255,369.0 113

11. Centerview Partners LLC 248,864.2 50

12. UBS Group AG 213,690.6 131

13. Rothschild & Co 198,578.0 304

14. PJT Partners, Inc. 142,057.7 22

15. RBC Capital Markets 125,868.9 108

16. Nomura Securities Co., Ltd. 114,003.1 54

17. Guggenheim Capital LLC 112,849.5 26

18. Macquarie Group 105,841.1 90

19. Ernst & Young Global Ltd. 104,023.1 529

20. Mizuho Financial Group, Inc. 91,773.0 74

21. Perella Weinberg Partners Group LP 89,965.2 38

22. Jefferies LLC 89,296.3 158

23. Moelis & Co. 86,908.3 109

24. Robey Warshaw LLP 82,968.8 4

25. BNP Paribas SA 82,465.9 96

26. Wells Fargo & Co. 81,351.3 42

27. The Toronto-Dominion Bank 74,252.3 42

28. KPMG International Coop. 73,697.6 458

29. PricewaterhouseCoopers 72,348.5 373

30. Scotiabank 69,266.5 45

31. Sumitomo Mitsui Financial Group, Inc. 65,648.3 27

32. HSBC Holdings Plc 65,417.6 42

33. The Raine Group LLC 60,138.0 5

34. Greenhill & Co., Inc. 59,750.9 48

35. Qatalyst Group LP 57,328.2 23

36. Bank of Montreal 54,249.6 45

37. LionTree LLC 50,087.7 21

38. Mediobanca SpA 46,898.0 23

39. Dyal Co. LLC 40,142.6 5

40. Banco Santander SA 38,804.6 23

41. Sandler O'Neill & Partners 37,617.8 93

42. Houlihan Lokey, Inc. 34,881.8 205

43. AZ Capital SL 33,320.9 1

43. Key Capital Partners LLP 33,320.9 3

45. Mitsubishi UFJ Morgan Stanley Securities 29,904.0 27

46. Canadian Imperial Bank of Commerce 29,577.1 26

47. BDT & Co. LLC 29,428.0 5

48. Nordea Bank Abp 28,443.8 18

49. AFW Associates LLC 27,024.9 1

50. Deloitte LLP 25,827.0 215

** Total Deals includes deals that reported a deal value as well as those that did not.

Legal Advisor Transaction


Deals**

1. Latham & Watkins LLP $457,455.7 317

2. Davis Polk & Wardwell LLP 423,790.0 110

3. Sullivan & Cromwell LLP 413,207.3 144

4. Skadden, Arps, Slate, Meagher & Flom 412,542.3 181

5. Wachtell, Lipton, Rosen & Katz 377,472.6 79

6. Cleary Gottlieb Steen & Hamilton LLP 362,098.2 109

7. Cravath, Swaine & Moore LLP 307,240.5 80

8. Simpson Thacher & Bartlett LLP 302,339.3 133

9. Freshfields Bruckhaus Deringer LLP 264,565.0 113

10. Kirkland & Ellis LLP 263,058.2 443

11. Linklaters LLP 251,391.7 107

12. Paul, Weiss, Rifkind, Wharton & Garrison 248,895.9 146

13. Fried, Frank, Harris, Shriver & Jacobson 242,910.6 71

14. Clifford Chance LLP 222,106.8 180

15. Weil, Gotshal & Manges LLP 221,082.8 193

16. Hogan Lovells LLP 212,367.0 253

17. Slaughter & May Ltd. 207,060.3 52

18. Shearman & Sterling LLP 199,093.2 115

19. Gibson, Dunn & Crutcher LLP 194,848.7 148

20. Herbert Smith Freehills LLP 192,347.5 170

21. Allen & Overy LLP 183,086.1 286

22. Vinson & Elkins LLP 170,800.7 89

23. Richards, Layton & Finger PA 146,983.1 19

24. Jones Day LP 145,765.9 389

25. DLA Piper Group 126,539.6 181

26. Potter Anderson & Corroon LLP 126,466.5 7

27. Debevoise & Plimpton LLP 125,583.6 52

28. Stikeman Elliott LLP 125,362.9 145

29. Nishimura & Asahi 112,965.6 77

30. Goodwin Procter LLP 109,837.4 104

31. Morrison & Foerster LLP 108,088.7 74

32. Ashurst LLP 101,887.1 45

33. Morgan, Lewis & Bockius LLP 100,575.4 169

34. Ogier Group LP 99,345.3 10

35. Blake, Cassels & Graydon LLP 93,588.6 134

36. Nagashima Ohno & Tsunematsu 91,721.0 12

37. Baker Botts LLP 91,119.8 69

38. Mourant Ozannes LP 88,482.6 4

39. Pillsbury Winthrop Shaw Pittman LLP 86,777.2 80

40. Baker & McKenzie LLP 76,803.3 123

41. Morris, Nichols, Arsht & Tunnell LLP 74,740.8 16

42. CMS Cameron Mckenna Nabarro 72,313.4 284

43. Holland & Knight LLP 70,755.8 19

44. Sidley Austin LLP 69,783.3 83

45. K&L Gates LLP 66,427.6 34

46. Uría Menéndez Abogados SLP 63,734.3 58

47. Covington & Burling LLP 60,202.3 58

48. Willkie Farr & Gallagher LLP 57,655.7 103

49. Akin, Gump, Strauss, Hauer & Feld LLP 54,632.9 58

50. Wilson Sonsini Goodrich & Rosati 54,409.7 114

If you would like to participate in our league table rankings or have questions about league table criteria, please contact [email protected].

GLOBAL: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE

mailto:[email protected]



4th Quarter 2018




GLOBAL: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS



Deals**



Deals**

1 BDO LLP $12,867.5 543 1. Kirkland & Ellis LLP $263,058.2 443

2 Ernst & Young Global Ltd. 104,023.1 529 2. Jones Day LP 145,765.9 389

3 KPMG International Coop. 73,697.6 458 3. Latham & Watkins LLP 457,455.7 317

4 PricewaterhouseCoopers 72,348.5 373 4. Allen & Overy LLP 183,086.1 286

5 Goldman Sachs & Co. 924,554.8 327 5. CMS Cameron Mckenna Nabarro 72,313.4 284

6 JPMorgan Chase & Co 818,432.0 304 6. Hogan Lovells LLP 212,367.0 253

6 Rothschild & Co 198,578.0 304 7. Weil, Gotshal & Manges LLP 221,082.8 193

8 Morgan Stanley 895,538.2 233 8. Skadden, Arps, Slate, Meagher & Flom 412,542.3 181

9 Citigroup 598,254.8 222 8. DLA Piper Group 126,539.6 181

10 Deloitte LLP 25,827.0 215 10. Clifford Chance LLP 222,106.8 180

11 Houlihan Lokey, Inc. 34,881.8 205 11. Herbert Smith Freehills LLP 192,347.5 170

12 Lazard 344,411.8 204 12. Morgan, Lewis & Bockius LLP 100,575.4 169

13 Credit Suisse 388,367.3 185 13. Gibson, Dunn & Crutcher LLP 194,848.7 148

14 Barclays Plc 415,973.8 181 14. Squire Patton Boggs (US) LLP 22,512.6 147

15 Bank of America Merrill Lynch 465,533.8 180 15. Paul, Weiss, Rifkind, Wharton & Garrison 248,895.9 146

16 Jefferies LLC 89,296.3 158 16. Stikeman Elliott LLP 125,362.9 145

17 Evercore, Inc. 359,092.5 154 17. Sullivan & Cromwell LLP 413,207.3 144

18 Raymond James Financial, Inc. 18,134.9 142 18. Paul Hastings LLP 40,367.9 137

19 Lincoln International LLC 7,363.5 137 19. Blake, Cassels & Graydon LLP 93,588.6 134

20 UBS Group AG 213,690.6 131 20. Simpson Thacher & Bartlett LLP 302,339.3 133

21 William Blair & Co. 20,524.6 114 21. Baker & McKenzie LLP 76,803.3 123

22 Deutsche Bank AG 255,369.0 113 22. Shearman & Sterling LLP 199,093.2 115

22 Robert W. Baird & Co. 20,794.1 113 23. Wilson Sonsini Goodrich & Rosati 54,409.7 114

24 Moelis & Co. 86,908.3 109 24. Freshfields Bruckhaus Deringer LLP 264,565.0 113

25 RBC Capital Markets 125,868.9 108 25. Dorsey & Whitney LLP 10,528.8 112

26 Stifel, Nicolaus & Co., Inc. 20,425.2 106 26. Davis Polk & Wardwell LLP 423,790.0 110

27 BNP Paribas SA 82,465.9 96 27. Cleary Gottlieb Steen & Hamilton LLP 362,098.2 109

27 Piper Jaffray Cos. 14,384.3 96 28. Linklaters LLP 251,391.7 107

29 Daiwa Securities Group Inc. 19,902.5 94 29. Goodwin Procter LLP 109,837.4 104

30 Sandler O'Neill & Partners 37,617.8 93 29. Willkie Farr & Gallagher LLP 57,655.7 103

30 Eight Advisory SAS 8,443.0 93 31. Orrick, Herrington & Sutcliffe LLP 6,049.3 93

32 Clairfield International LLC 629.1 92 32. Mayer Brown LLP 49,831.0 92

33 Macquarie Group 105,841.1 90 33. Fenwick & West LLP 26,546.7 91

34 GCA Corp. 9,329.7 85 34. Vinson & Elkins LLP 170,800.7 89

35 MacIntyre Hudson LLP 1,225.8 83 34. Addleshaw Goddard LLP 3,962.6 89

36 Mizuho Financial Group, Inc. 91,773.0 74 36. Sidley Austin LLP 69,783.3 83

37 Colmore LLP 1,705.9 72 36. Ropes & Gray LLP 48,504.6 83

37 Mazars SA 685.0 72 38. Dechert LLP 33,478.7 82

39 UniCredit SpA 8,032.9 67 39. Cravath, Swaine & Moore LLP 307,240.5 80

40 Harris Williams & Co. 6,522.6 60 39. Pillsbury Winthrop Shaw Pittman LLP 86,777.2 80

41 ALANTRA 4,871.5 59 39. Dentons Rodyk & Davidson LLP 29,901.3 80

42 Grant Thornton International Ltd. 2,909.7 58 42. Wachtell, Lipton, Rosen & Katz 377,472.6 79

43 Canaccord Genuity Group, Inc. 9,271.5 57 42. McDermott Will & Emery LLP 37,516.5 79

43 FTI Consulting, Inc. 16,175.1 56 44. Alston & Bird LLP 52,617.9 78

45 Nomura Securities Co., Ltd. 114,003.1 54 45. Nishimura & Asahi 112,965.6 77

46 KeyCorp 13,390.8 52 45. AZB & Partners 48,838.0 77

46 Rabobank 2,306.1 52 47. Morrison & Foerster LLP 108,088.7 74

48 Crédit Agricole 6,849.5 51 48. Fried, Frank, Harris, Shriver & Jacobson 242,910.6 71

49 Centerview Partners LLC 248,864.2 50 49. White & Case LLP 44,103.8 70

50 Greenhill & Co., Inc. 59,750.9 48 50. Baker Botts LLP 91,119.8 69




4th Quarter 2018




US: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE



Deals**


Value ($Mil) *

Total

Deals**

1. Goldman Sachs & Co. $628,679.5 256 1. Wachtell, Lipton, Rosen & Katz $376,002.6 78

2. Morgan Stanley 600,726.8 154 2. Skadden, Arps, Slate, Meagher & Flom 372,510.9 156

3. JPMorgan Chase & Co 547,256.9 209 3. Latham & Watkins LLP 326,713.7 239

4. Barclays Plc 366,197.4 149 4. Cleary Gottlieb Steen & Hamilton LLP 311,482.0 74

5. Bank of America Merrill Lynch 319,527.6 121 5. Sullivan & Cromwell LLP 272,028.1 120

6. Citigroup 317,094.6 144 6. Cravath, Swaine & Moore LLP 265,873.4 71

7. Credit Suisse 295,339.4 115 7. Davis Polk & Wardwell LLP 254,936.9 86

8. Evercore, Inc. 269,969.2 131 8. Simpson Thacher & Bartlett LLP 251,222.9 120

9. Lazard 249,982.0 105 9. Paul, Weiss, Rifkind, Wharton & Garrison 235,981.9 138

10. Centerview Partners LLC 228,005.0 45 10. Kirkland & Ellis LLP 227,550.3 416

11. Deutsche Bank AG 161,291.4 81 11. Weil, Gotshal & Manges LLP 187,080.5 145

12. PJT Partners, Inc. 135,539.0 17 12. Gibson, Dunn & Crutcher LLP 165,848.5 131

13. Guggenheim Capital LLC 111,494.9 24 13. Vinson & Elkins LLP 162,362.3 84

14. Rothschild & Co 103,066.4 97 14. Fried, Frank, Harris, Shriver & Jacobson 156,758.8 62

15. UBS Group AG 90,146.5 68 15. Hogan Lovells LLP 193,133.9 141

16. Mizuho Financial Group, Inc. 82,220.0 13 16. Richards, Layton & Finger PA 146,983.1 19

17. Wells Fargo & Co. 81,351.3 42 17. Jones Day LP 133,452.7 310

18. RBC Capital Markets 81,332.5 80 18. Shearman & Sterling LLP 126,790.2 81

19. Moelis & Co. 79,624.6 91 19. Potter Anderson & Corroon LLP 126,466.5 7

20. Jefferies LLC 76,958.3 140 20. Clifford Chance LLP 121,158.4 58

21. Macquarie Group 64,620.2 47 21. Freshfields Bruckhaus Deringer LLP 113,880.1 45

22. Robey Warshaw LLP 60,023.1 3 22. Debevoise & Plimpton LLP 108,660.0 47

23. The Raine Group LLC 59,713.0 4 23. Goodwin Procter LLP 103,786.0 79

24. Sumitomo Mitsui Financial Group, Inc. 58,910.0 2 24. Morrison & Foerster LLP 103,880.2 58

25. Perella Weinberg Partners Group LP 57,987.1 32 25. Morgan, Lewis & Bockius LLP 93,728.7 162

26. Qatalyst Group LP 57,310.1 23 26. Stikeman Elliott LLP 91,726.1 84

27. Greenhill & Co., Inc. 40,626.1 29 27. Baker Botts LLP 88,416.3 68

28. Sandler O'Neill & Partners 37,789.3 93 28. Herbert Smith Freehills LLP 88,100.8 43

29. The Toronto-Dominion Bank 36,642.7 15 29. DLA Piper Group 86,403.1 89

30. Scotiabank 35,993.0 18 30. Pillsbury Winthrop Shaw Pittman LLP 84,565.2 78

31. Houlihan Lokey, Inc. 33,137.2 168 31. Allen & Overy LLP 79,185.7 86

32. Ernst & Young Global Ltd. 31,683.2 108 32. Morris, Nichols, Arsht & Tunnell LLP 74,740.8 16

33. BDT & Co. LLC 29,428.0 5 33. Holland & Knight LLP 70,755.8 19

34. BNP Paribas SA 27,146.2 20 34. Blake, Cassels & Graydon LLP 70,668.9 76

35. AFW Associates LLC 27,024.9 1 35. Sidley Austin LLP 69,374.8 77

36. HSBC Holdings Plc 24,158.6 14 36. K&L Gates LLP 65,435.8 20

37. Bank of Montreal 22,145.2 24 37. Slaughter & May Ltd. 63,036.2 19

38. Dyal Co. LLC 20,742.6 3 38. Covington & Burling LLP 55,269.5 51

39. Stifel, Nicolaus & Co., Inc. 19,993.7 102 39. Akin, Gump, Strauss, Hauer & Feld LLP 54,632.9 58

40. PricewaterhouseCoopers 19,141.4 76 40. Wilson Sonsini Goodrich & Rosati 54,267.9 113

41. Robert W. Baird & Co. 19,066.6 103 41. Linklaters LLP 51,330.8 45

42. William Blair & Co. 18,750.2 94 42. Alston & Bird LLP 49,682.0 76

43. Allen & Co., Inc. 18,130.4 11 43. Mayer Brown LLP 46,742.6 48

44. Raymond James Financial, Inc. 17,713.2 120 44. Proskauer Rose LLP 42,678.1 31

45. Mitsubishi UFJ Morgan Stanley Securities 17,638.7 9 45. Willkie Farr & Gallagher LLP 38,016.2 66

46. KPMG International Coop. 16,169.4 102 46. Paul Hastings LLP 35,498.6 104

47. The Valence Group LLC 14,424.7 6 47. McDermott Will & Emery LLP 34,722.1 30

48. Piper Jaffray Cos. 14,062.9 89 48. Bracewell LLP 33,105.1 18

49. KeyCorp 13,065.6 50 49. Cooley LLP 31,913.5 52

50. JMP Group LLC 12,579.4 5 50. Dechert LLP 31,712.1 66




4th Quarter 2018




US: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS


Value ($Mil) *

Total

Deals**

Legal Advisor

Transaction

Value ($Mil) *

Total

Deals**

1 Goldman Sachs & Co. $628,679.5 256 1. Kirkland & Ellis LLP $227,550.3 416

2 JPMorgan Chase & Co 547,256.9 209 2. Jones Day LP 133,452.7 310

3 Houlihan Lokey, Inc. 33,137.2 168 3. Latham & Watkins LLP 326,713.7 239

4 Morgan Stanley 600,726.8 154 4. Morgan, Lewis & Bockius LLP 93,728.7 162

5 Barclays Plc 366,197.4 149 5. Skadden, Arps, Slate, Meagher & Flom 372,510.9 156

6 Citigroup 317,094.6 144 6. Weil, Gotshal & Manges LLP 187,080.5 145

6 BDO LLP 6,841.7 144 7. Hogan Lovells LLP 193,133.9 141

8 Jefferies LLC 76,958.3 140 8. Paul, Weiss, Rifkind, Wharton & Garrison 235,981.9 138

9 Evercore, Inc. 269,969.2 131 9. Gibson, Dunn & Crutcher LLP 165,848.5 131

10 Bank of America Merrill Lynch 319,527.5 121 10. Sullivan & Cromwell LLP 272,028.1 120

11 Raymond James Financial, Inc. 17,713.2 120 10. Simpson Thacher & Bartlett LLP 251,222.9 120

12 Credit Suisse 295,339.4 115 12. Wilson Sonsini Goodrich & Rosati 54,267.9 113

13 Ernst & Young Global Ltd. 31,683.2 108 13. Paul Hastings LLP 35,498.6 104

14 Lazard 249,982.0 105 14. Dorsey & Whitney LLP 8,955.3 92

15 Robert W. Baird & Co. 19,066.6 103 15. Fenwick & West LLP 26,546.7 91

16 Stifel, Nicolaus & Co., Inc. 19,993.7 102 16. DLA Piper Group 86,403.1 89

16 KPMG International Coop. 16,169.4 102 17. Davis Polk & Wardwell LLP 254,936.9 86

18 Rothschild & Co 103,066.4 97 17. Allen & Overy LLP 79,185.7 86

19 William Blair & Co. 18,750.2 94 19. Vinson & Elkins LLP 162,362.3 84

20 Sandler O'Neill & Partners 37,789.3 93 19. Stikeman Elliott LLP 91,726.1 84

21 Moelis & Co. 79,624.6 91 21. Shearman & Sterling LLP 126,790.2 81

22 Lincoln International LLC 6,959.9 90 22. Goodwin Procter LLP 103,786.0 79

23 Piper Jaffray Cos. 14,062.9 89 23. Wachtell, Lipton, Rosen & Katz 376,002.6 78

24 Deutsche Bank AG 161,291.4 81 23. Pillsbury Winthrop Shaw Pittman LLP 84,565.2 78

25 RBC Capital Markets 81,332.5 80 25. Sidley Austin LLP 69,374.8 77

26 PricewaterhouseCoopers 19,141.4 76 26. Blake, Cassels & Graydon LLP 70,668.9 76

27 UBS Group AG 90,146.5 68 26. Alston & Bird LLP 49,682.0 76

28 Harris Williams & Co. 6,304.2 55 28. Cleary Gottlieb Steen & Hamilton LLP 311,482.0 74

29 KeyCorp 13,065.6 50 28. Ropes & Gray LLP 23,987.4 74

30 Macquarie Group 64,620.2 47 30. Cravath, Swaine & Moore LLP 265,873.4 71

31 Deloitte LLP 7,846.4 46 31. Baker Botts LLP 88,416.3 68

32 Centerview Partners LLC 228,005.0 45 32. Willkie Farr & Gallagher LLP 38,016.2 66

33 Wells Fargo & Co. 81,351.3 42 32. Dechert LLP 31,712.1 66

34 Generational Equity LLC 0.0 37 32. Squire Patton Boggs (US) LLP 15,615.0 66

35 Fortis Lux Financial, Inc. 372.0 33 32. CMS Cameron Mckenna Nabarro 11,644.3 66

36 Perella Weinberg Partners Group LP 57,987.1 32 36. Fried, Frank, Harris, Shriver & Jacobson 156,758.8 62

37 Greenhill & Co., Inc. 40,626.1 29 37. Clifford Chance LLP 121,158.4 58

38 Cowen, Inc. 4,353.4 28 37. Morrison & Foerster LLP 103,880.2 58

39 Stephens Financial Services LLC 6,214.0 27 37. Akin, Gump, Strauss, Hauer & Feld LLP 54,632.9 58

39 D. A. Davidson Cos. 2,034.0 27 40. Winston & Strawn LLP 18,000.8 57

41 Daiwa Securities Group Inc. 3,493.8 25 41. Orrick, Herrington & Sutcliffe LLP 3,127.4 54

41 Canaccord Genuity Group, Inc. 1,256.6 25 42. Cooley LLP 31,913.5 52

41 Clairfield International LLC 459.0 25 43. Covington & Burling LLP 55,269.5 51

44 Guggenheim Capital LLC 111,494.9 24 44. Mayer Brown LLP 46,742.6 48

44 Bank of Montreal 22,145.2 24 45. Debevoise & Plimpton LLP 108,660.0 47

44 GCA Corp. 5,661.3 24 46. Arnold & Porter Kaye Scholer LLP 31,025.1 46

47 Qatalyst Group LP 57,310.1 23 47. Freshfields Bruckhaus Deringer LLP 113,880.1 45

47 SunTrust Robinson Humphrey 4,770.1 23 47. Linklaters LLP 51,330.8 45

49 FIG Partners LLC 3,049.8 22 49. Herbert Smith Freehills LLP 88,100.8 43

50 BNP Paribas SA 27,146.2 20 50. Baker & McKenzie LLP 27,405.8 39




4th Quarter 2018




US MIDDLE MARKET: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE



Deals**


Value ($Mil) *

Total

Deals**

1. Goldman Sachs & Co. $11,496.1 88 1. Kirkland & Ellis LLP $17,778.1 334


3. Jefferies LLC 10,037.0 94 3. Jones Day LP 14,253.5 275

4. Evercore, Inc. 8,705.9 76 4. Skadden, Arps, Slate, Meagher & Flom 8,139.0 88

5. Credit Suisse 7,988.4 53 5. Morgan, Lewis & Bockius LLP 7,803.8 147

6. Houlihan Lokey, Inc. 7,710.6 157 6. Paul, Weiss, Rifkind, Wharton & Garrison 6,814.0 102

7. RBC Capital Markets 7,286.9 51 7. Hogan Lovells LLP 6,452.8 108

8. Deutsche Bank AG 7,205.3 45 8. Allen & Overy LLP 6,227.3 59

9. Citigroup 7,101.3 66 9. Paul Hastings LLP 6,182.6 89

10. Barclays Plc 7,047.3 77 10. Weil, Gotshal & Manges LLP 6,046.7 98

11. Raymond James Financial, Inc. 7,009.2 113 11. Vinson & Elkins LLP 5,707.8 53

12. Sandler O'Neill & Partners 6,797.1 80 12. Sidley Austin LLP 5,660.2 48

13. Morgan Stanley 6,712.0 51 13. Fenwick & West LLP 5,318.8 80

14. Rothschild & Co 6,698.0 62 14. Gibson, Dunn & Crutcher LLP 5,316.0 85

15. Lazard 6,233.2 58 15. Wilson Sonsini Goodrich & Rosati 5,246.8 100

16. Stifel, Nicolaus & Co., Inc. 5,919.1 87 16. DLA Piper Group 5,113.1 73

17. Moelis & Co. 5,577.2 62 17. Sullivan & Cromwell LLP 4,973.6 49

18. William Blair & Co. 5,467.5 84 18. Davis Polk & Wardwell LLP 4,846.5 40

19. Piper Jaffray Cos. 5,137.9 79 19. Shearman & Sterling LLP 4,437.8 51

20. Bank of America Merrill Lynch 5,018.5 45 20. Wachtell, Lipton, Rosen & Katz 4,142.0 26

21. Ernst & Young Global Ltd. 4,846.2 85 21. Goodwin Procter LLP 4,129.0 60

22. Wells Fargo & Co. 4,770.5 23 22. Alston & Bird LLP 4,047.1 62

23. Deloitte LLP 3,630.4 41 23. Winston & Strawn LLP 3,964.8 49

24. Robert W. Baird & Co. 3,616.3 91 24. Cravath, Swaine & Moore LLP 3,840.4 28

25. BDO LLP 3,168.4 141 25. Dorsey & Whitney LLP 3,775.7 86

26. UBS Group AG 3,153.3 38 26. Ropes & Gray LLP 3,681.2 60

27. KPMG International Coop. 3,068.0 89 27. Willkie Farr & Gallagher LLP 3,635.7 51

28. Lincoln International LLC 3,036.1 85 28. Covington & Burling LLP 3,592.6 28

29. Macquarie Group 2,886.0 27 29. Cooley LLP 3,584.2 40

30. BNP Paribas SA 2,545.7 14 30. Morrison & Foerster LLP 3,333.5 43

31. PricewaterhouseCoopers 2,469.5 66 31. Baker Botts LLP 3,275.4 42

32. Perella Weinberg Partners Group LP 2,364.8 14 32. Blake, Cassels & Graydon LLP 3,223.4 65

33. Centerview Partners LLC 2,084.9 18 33. Herbert Smith Freehills LLP 3,207.0 31

34. Natixis SA 2,021.2 15 34. Dechert LLP 3,129.0 53

35. Harris Williams & Co. 2,004.2 52 35. Stikeman Elliott LLP 3,073.2 69

36. Greenhill & Co., Inc. 1,980.7 18 36. Cleary Gottlieb Steen & Hamilton LLP 3,021.2 29

37. SunTrust Robinson Humphrey 1,895.1 19 37. Baker & McKenzie LLP 2,943.7 26

38. Stephens Financial Services LLC 1,857.9 22 38. Pillsbury Winthrop Shaw Pittman LLP 2,864.7 67

39. GCA Corp. 1,792.3 21 39. Linklaters LLP 2,722.8 20

40. Guggenheim Capital LLC 1,651.6 9 40. O'Melveny & Myers LLP 2,661.4 29

41. Bank of Montreal 1,556.8 16 41. Simpson Thacher & Bartlett LLP 2,644.9 64

42. Canadian Imperial Bank of Commerce 1,543.1 10 42. Clifford Chance LLP 2,610.5 34

43. ALANTRA 1,488.5 19 43. Fried, Frank, Harris, Shriver & Jacobson 2,560.2 31

44. FIG Partners LLC 1,458.6 20 44. Ashurst LLP 2,443.4 11

45. Nomura Securities Co., Ltd. 1,414.4 9 45. CMS Cameron Mckenna Nabarro 2,429.9 60

46. Cowen, Inc. 1,353.9 25 46. Akin, Gump, Strauss, Hauer & Feld LLP 2,418.1 41

47. Canaccord Genuity Group, Inc. 1,256.6 25 47. Arnold & Porter Kaye Scholer LLP 2,221.3 34

48. Scotiabank 1,232.4 9 48. K&L Gates LLP 2,148.0 16

49. D. A. Davidson Cos. 1,165.6 26 49. Freshfields Bruckhaus Deringer LLP 2,073.2 17

50. Leerink Swann Massachusetts Business 1,146.3 10 50. Greenberg Traurig LLP 2,070.7 29




4th Quarter 2018




US MIDDLE MARKET: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS



Deals**



Deals**

1. Houlihan Lokey, Inc. $7,568.8 156 1. Kirkland & Ellis LLP $17,778.1 334

2. BDO LLP 3,168.4 141 2. Jones Day LP 14,253.5 275

3. Raymond James Financial, Inc. 7,009.2 113 3. Latham & Watkins LLP 16,629.1 168

4. Jefferies LLC 10,037.0 94 4. Morgan, Lewis & Bockius LLP 7,803.8 147

5. Robert W. Baird & Co. 3,616.3 91 5. Hogan Lovells LLP 6,452.8 108

6. KPMG International Coop. 3,068.0 89 6. Paul, Weiss, Rifkind, Wharton & Garrison 6,814.0 102

7. Goldman Sachs & Co. 11,496.1 88 7. Wilson Sonsini Goodrich & Rosati 5,246.8 100

8. Stifel, Nicolaus & Co., Inc. 5,919.1 87 8. Weil, Gotshal & Manges LLP 6,046.7 98

9. Ernst & Young Global Ltd. 4,846.2 85 9. Paul Hastings LLP 6,182.6 89

9. Lincoln International LLC 3,036.1 85 10. Skadden, Arps, Slate, Meagher & Flom 8,139.0 88

11. William Blair & Co. 5,467.5 84 11. Dorsey & Whitney LLP 3,775.7 86

12. Sandler O'Neill & Partners 6,797.1 80 12. Gibson, Dunn & Crutcher LLP 5,316.0 85

13. Piper Jaffray Cos. 5,137.9 79 13. Fenwick & West LLP 5,318.8 80

14. Barclays Plc 7,047.3 77 14. DLA Piper Group 5,113.1 73

15. Evercore, Inc. 8,705.9 76 15. Stikeman Elliott LLP 3,073.2 69

15. JPMorgan Chase & Co 10,060.4 76 16. Pillsbury Winthrop Shaw Pittman LLP 2,864.7 67

17. Citigroup 7,101.3 66 17. Blake, Cassels & Graydon LLP 3,223.4 65

17. PricewaterhouseCoopers 2,469.5 66 18. Simpson Thacher & Bartlett LLP 2,644.9 64

19. Rothschild & Co 6,698.0 62 19. Alston & Bird LLP 4,047.1 62

19. Moelis & Co. 5,577.2 62 20. Goodwin Procter LLP 4,129.0 60

21. Lazard 6,233.2 58 20. Ropes & Gray LLP 3,681.2 60

22. Credit Suisse 7,988.4 53 20. CMS Cameron Mckenna Nabarro 2,429.9 60

23. Harris Williams & Co. 2,004.2 52 23. Allen & Overy LLP 6,227.3 59

24. RBC Capital Markets 7,286.9 51 24. Squire Patton Boggs (US) LLP 1,818.1 58

24. Morgan Stanley 6,712.0 51 25. Vinson & Elkins LLP 5,707.8 53

26. Deutsche Bank AG 7,130.5 45 25. Dechert LLP 3,129.0 53

26. Bank of America Merrill Lynch 5,018.5 45 27. Orrick, Herrington & Sutcliffe LLP 1,280.9 52

28. Deloitte LLP 4,079.2 42 28. Shearman & Sterling LLP 4,437.8 51

29. KeyCorp 685.3 41 28. Willkie Farr & Gallagher LLP 3,635.7 51

30. UBS Group AG 3,153.3 38 30. Sullivan & Cromwell LLP 4,973.6 49

30. Generational Equity LLC 0.0 38 30. Winston & Strawn LLP 3,964.8 49

32. Fortis Lux Financial, Inc. 372.0 33 32. Sidley Austin LLP 5,660.2 48

33. Macquarie Group 2,886.0 27 33. Morrison & Foerster LLP 3,333.5 43

34. D. A. Davidson Cos. 1,165.6 26 34. Baker Botts LLP 3,275.4 42

35. Cowen, Inc. 1,353.9 25 35. Akin, Gump, Strauss, Hauer & Feld LLP 2,418.1 41

35. Canaccord Genuity Group, Inc. 1,256.6 25 36. Davis Polk & Wardwell LLP 4,846.5 40

35. Clairfield International LLC 459.0 25 36. Cooley LLP 3,584.2 40

38. Wells Fargo & Co. 4,770.5 23 38. Mayer Brown LLP 1,830.4 35

38. Daiwa Securities Group Inc. 671.7 23 39. Clifford Chance LLP 2,610.5 34

40. Stephens Financial Services LLC 1,857.9 22 39. Arnold & Porter Kaye Scholer LLP 2,221.3 34

41. GCA Corp. 1,792.3 21 41. Herbert Smith Freehills LLP 3,207.0 31

42. FIG Partners LLC 1,458.6 20 41. Fried, Frank, Harris, Shriver & Jacobson 2,560.2 31

42. Hovde Group LLC 1,004.7 20 43. Cleary Gottlieb Steen & Hamilton LLP 3,021.2 29

44. SunTrust Robinson Humphrey 1,895.1 19 43. O'Melveny & Myers LLP 2,661.4 29

44. ALANTRA 1,488.5 19 43. Greenberg Traurig LLP 2,070.7 29

44. Brown Gibbons Lang & Co. LLC 787.3 19 46. Cravath, Swaine & Moore LLP 3,840.4 28

44. Banks Street Partners LLC 713.5 19 46. Covington & Burling LLP 3,592.6 28

48. Centerview Partners LLC 2,084.9 18 48. Sheppard, Mullin, Richter & Hampton LLP 2,013.0 27

48. Greenhill & Co., Inc. 1,980.7 18 48. AZB & Partners 2,004.5 27

50. Mooreland Holdings LLC 1,069.0 17 48. Dentons Rodyk & Davidson LLP 1,445.4 27




4th Quarter 2018




EUROPE: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE


Value (€Mil)* Total

Deals**



Deals**

1. Goldman Sachs & Co. € 446,578.8 155 1. Freshfields Bruckhaus Deringer LLP € 225,489.5 106


3. Morgan Stanley 414,471.9 109 3. Linklaters LLP 207,372.7 97

4. Citigroup 287,167.4 93 4. Davis Polk & Wardwell LLP 197,694.5 43

5. Bank of America Merrill Lynch 198,026.1 80 5. Slaughter & May Ltd. 169,628.1 48

6. Evercore, Inc. 197,499.1 59 6. Clifford Chance LLP 167,446.6 153

7. Credit Suisse 190,567.4 70 7. Sullivan & Cromwell LLP 157,621.6 40

8. Deutsche Bank AG 157,243.4 63 8. Skadden, Arps, Slate, Meagher & Flom 154,812.2 65

9. Barclays Plc 144,581.2 71 9. Fried, Frank, Harris, Shriver & Jacobson 136,013.3 25

10. Rothschild & Co 141,557.0 270 10. Allen & Overy LLP 135,985.0 244

11. Lazard 136,132.2 136 11. Herbert Smith Freehills LLP 130,302.1 86

12. UBS Group AG 133,879.1 68 12. Wachtell, Lipton, Rosen & Katz 123,124.9 13

13. PJT Partners, Inc. 115,439.0 12 13. Weil, Gotshal & Manges LLP 122,914.3 93

14. Centerview Partners LLC 102,561.3 16 14. Cravath, Swaine & Moore LLP 120,859.3 35

15. Ernst & Young Global Ltd. 79,210.8 480 15. Simpson Thacher & Bartlett LLP 110,827.5 33

16. Nomura Securities Co., Ltd. 79,148.1 27 16. Cleary Gottlieb Steen & Hamilton LLP 108,204.1 61

17. Robey Warshaw LLP 73,731.0 4 17. Hogan Lovells LLP 105,128.3 167

18. BNP Paribas SA 66,801.7 85 18. Kirkland & Ellis LLP 101,475.7 120

19. Mizuho Financial Group, Inc. 61,909.0 11 19. DLA Piper Group 89,434.8 123

20. PricewaterhouseCoopers 57,468.1 304 20. Shearman & Sterling LLP 86,347.9 52

21. KPMG International Coop. 54,261.9 348 21. Ogier Group LP 80,143.5 7

22. The Raine Group LLC 49,045.5 2 22. Nishimura & Asahi 78,051.3 13

23. Wells Fargo & Co. 48,764.9 11 23. Ashurst LLP 75,496.4 35

24. Sumitomo Mitsui Financial Group, Inc. 48,679.9 1 24. Goodwin Procter LLP 71,936.1 46

25. HSBC Holdings Plc 46,752.2 30 25. Mourant Ozannes LP 71,443.5 4

26. Mediobanca SpA 42,698.5 22 26. Nagashima Ohno & Tsunematsu 66,428.2 1

27. Macquarie Group 38,227.4 41 27. CMS Cameron Mckenna Nabarro 58,747.2 273

28. LionTree LLC 37,978.1 14 28. Gibson, Dunn & Crutcher LLP 58,307.1 42

29. Greenhill & Co., Inc. 35,296.9 25 29. Uría Menéndez Abogados SLP 55,010.6 57

30. Banco Santander SA 35,203.1 16 30. Baker & McKenzie LLP 53,908.1 90

31. Jefferies LLC 32,851.4 63 31. Pillsbury Winthrop Shaw Pittman LLP 52,795.0 19

32. AZ Capital SL 31,246.2 1 32. Morrison & Foerster LLP 52,678.5 29

32. Key Capital Partners LLP 31,246.2 3 33. K&L Gates LLP 50,913.1 19

34. RBC Capital Markets 29,941.0 32 34. Richards, Layton & Finger PA 50,165.4 3

35. Guggenheim Capital LLC 27,785.2 5 35. Potter Anderson & Corroon LLP 48,679.9 1

36. Perella Weinberg Partners Group LP 26,319.1 11 36. B&D Holding di Marco Drago e C. SApA 43,448.9 5

37. Dyal Co. LLC 23,956.6 4 37. Gianni, Origoni, Grippo, Cappelli 42,309.7 60

38. Nordea Bank Abp 23,822.0 18 38. Gleiss Lutz 34,625.4 31

39. AFW Associates LLC 21,735.6 1 39. AZB & Partners 34,499.5 27

39. BDT & Co. LLC 21,735.6 1 40. Paul, Weiss, Rifkind, Wharton & Garrison 33,331.8 30

41. Canadian Imperial Bank of Commerce 17,694.0 6 41. J&A Garrigues SLP 32,459.5 11

42. Deloitte LLP 16,775.7 166 42. Morgan, Lewis & Bockius LLP 31,803.3 44

43. Société Générale SA 16,164.6 38 43. Jones Day LP 31,635.3 158

44. Mitsubishi UFJ Morgan Stanley Securities 16,055.1 6 44. EJC Roberti & Associati 31,246.2 1

45. Bank of Montreal 15,075.5 9 45. Ropes & Gray LLP 31,010.0 30

46. Gleacher Shacklock LLP 14,947.8 3 46. Stikeman Elliott LLP 30,957.9 36

47. Scotiabank 13,774.3 7 47. McDermott Will & Emery LLP 30,313.2 55

48. FTI Consulting, Inc. 12,914.4 50 48. Debevoise & Plimpton LLP 30,198.9 14

49. Investec Ltd. 12,664.0 13 49. De Brauw Blackstone Westbroek NV 29,622.2 18

50. Ardea Partners LLC 12,108.8 1 50. Hengeler Mueller Partnerschaft von 27,820.9 35




4th Quarter 2018




EUROPE: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS



Deals**

Legal Advisor

Transaction

Value (€Mil)*

Total

Deals**

1. Ernst & Young Global Ltd. € 79,210.8 480 1. CMS Cameron Mckenna Nabarro € 58,747.2 273

2. BDO LLP 8,494.7 416 2. Allen & Overy LLP 135,985.0 244

3. KPMG International Coop. 54,261.9 348 3. Hogan Lovells LLP 105,128.3 167

4. PricewaterhouseCoopers 57,468.1 304 4. Jones Day LP 31,635.3 158

5. Rothschild & Co 141,557.0 270 5. Latham & Watkins LLP 212,771.9 155

6. Deloitte LLP 16,775.7 166 6. Clifford Chance LLP 167,446.6 153

7. Goldman Sachs & Co. 446,578.8 155 7. DLA Piper Group 89,434.8 123

8. JPMorgan Chase & Co 431,343.5 154 8. Kirkland & Ellis LLP 101,475.7 120

9. Lazard 136,132.2 136 9. Freshfields Bruckhaus Deringer LLP 225,489.5 106

10. Morgan Stanley 414,471.9 109 10. Squire Patton Boggs (US) LLP 6,039.1 99

11. Citigroup 287,167.4 93 11. Linklaters LLP 207,372.7 97

12. Clairfield Partners LLC 521.4 86 12. Weil, Gotshal & Manges LLP 122,914.3 93

13. BNP Paribas SA 66,801.7 85 13. Baker & McKenzie LLP 53,908.1 90

13. Eight Advisory SAS 6,407.7 85 14. Addleshaw Goddard LLP 2,933.1 87

15. Lincoln International LLC 4,056.5 82 15. Herbert Smith Freehills LLP 130,302.1 86

16. MacIntyre Hudson LLP 853.7 81 16. Orrick, Herrington & Sutcliffe LLP 2,530.6 68

17. Bank of America Merrill Lynch 198,026.1 80 17. Skadden, Arps, Slate, Meagher & Flom 154,812.2 65

18. Colmore LLP 1,444.3 72 18. Mayer Brown LLP 17,168.8 64

18. Mazars SA 582.0 72 19. Cleary Gottlieb Steen & Hamilton LLP 108,204.1 61

20. Barclays Plc 144,581.2 71 19. Osborne Clarke LLP 3,319.0 61

21. Credit Suisse 190,567.4 70 21. Gianni, Origoni, Grippo, Cappelli 42,309.7 60

22. UBS Group AG 133,879.1 68 22. Willkie Farr & Gallagher LLP 19,536.2 59

22. Houlihan Lokey, Inc. 6,228.6 68 23. Uría Menéndez Abogados SLP 55,010.6 57

24. UniCredit SpA 6,753.7 67 23. White & Case LLP 26,177.7 57

25. Deutsche Bank AG 157,243.4 63 25. Paul Hastings LLP 7,858.1 56

25. Jefferies LLC 32,851.4 63 26. McDermott Will & Emery LLP 30,313.2 55

27. Evercore, Inc. 197,499.1 59 26. Dentons Rodyk & Davidson LLP 22,290.4 55

28. Daiwa Securities Group Inc. 10,603.5 56 26. Lamartine Conseil 86.0 55

29. GCA Corp. 4,844.8 53 29. Shearman & Sterling LLP 86,347.9 52

30. Grant Thornton International Ltd. 1,075.2 52 30. Houthoff Buruma Coöperatief UA 10,869.0 51

31. FTI Consulting, Inc. 12,914.4 50 30. Eversheds Sutherland 4,208.3 51

31. Crédit Agricole 5,524.7 50 32. Slaughter & May Ltd. 169,628.1 48

31. William Blair & Co. 5,297.5 50 33. PricewaterhouseCoopers 5,830.5 47

31. Rabobank 835.4 50 34. Goodwin Procter LLP 71,936.1 46

35. Ebner Stolz Mönning Bachem 900.5 45 35. P+P Pöllath + Partners Rechtsanwälte 3,471.2 45

36. Oaklins 1,923.5 43 35. Heuking Kühn Lüer Wojtek 560.0 45

37. Macquarie Group 38,227.4 41 37. Morgan, Lewis & Bockius LLP 31,803.3 44

38. Société Générale SA 16,164.6 38 38. Davis Polk & Wardwell LLP 197,694.5 43

39. Numis Corp. Plc 4,749.3 36 39. Gibson, Dunn & Crutcher LLP 58,307.1 42

40. Moelis & Co. 10,121.3 35 39. Stibbe NV 13,542.2 42

40. Natixis SA 11,555.3 35 39. Dechert LLP 8,851.4 42

42. Robert W. Baird & Co. 4,133.7 34 39. Pinsent Masons LLP 2,641.1 42

42. ALANTRA 4,078.8 34 43. Ernst & Young Global Ltd. 4,958.4 41

44. RBC Capital Markets 29,941.0 32 43. NCTM Studio Legale Associato 507.8 41

44. ING Groep NV 4,771.0 32 45. Sullivan & Cromwell LLP 157,621.6 40

44. Raymond James Financial, Inc. 3,740.7 32 45. FIDAL Société d'Avocats 14.9 40

47. HSBC Holdings Plc 46,752.2 30 47. Noerr LLP 7,275.3 38

48. Carnegie ASA 6,557.4 29 47. Samuelsson Neugebauer Advokater 4,953.3 38

48. Oderis Consulting SARL 332.0 29 49. Stikeman Elliott LLP 30,957.9 36

50. Nomura Securities Co., Ltd. 79,148.1 27 49. Gide Loyrette Nouel 6,297.4 36




4th Quarter 2018




UK: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE


Value (£Mil)* Total

Deals**

Legal Advisor

Transaction


Deals**

1. Morgan Stanley £142,708.9 48 1. Freshfields Bruckhaus Deringer LLP £109,221.2 48

2. Goldman Sachs & Co. 120,187.3 67 2. Slaughter & May Ltd. 87,961.7 40

3. JPMorgan Chase & Co 109,014.9 57 3. Herbert Smith Freehills LLP 80,338.5 48

4. Barclays Plc 103,831.8 46 4. Clifford Chance LLP 70,837.1 65

5. Bank of America Merrill Lynch 78,096.3 35 5. Wachtell, Lipton, Rosen & Katz 63,275.5 9

6. UBS Group AG 76,381.2 26 6. Davis Polk & Wardwell LLP 59,317.1 21

7. Citigroup 69,699.9 42 7. Latham & Watkins LLP 54,932.9 68

8. Rothschild & Co 69,078.4 128 8. Skadden, Arps, Slate, Meagher & Flom 42,764.8 34

9. Robey Warshaw LLP 63,364.0 4 9. Allen & Overy LLP 41,351.2 92

10. PJT Partners, Inc. 53,155.5 6 10. B&D Holding di Marco Drago e C. SApA 36,724.6 2

11. Evercore, Inc. 50,889.4 37 11. Kirkland & Ellis LLP 35,575.5 60

12. Credit Suisse 44,749.3 31 12. Simpson Thacher & Bartlett LLP 34,875.1 15

13. Wells Fargo & Co. 38,531.7 5 13. Cravath, Swaine & Moore LLP 33,083.0 19

14. Ernst & Young Global Ltd. 38,229.1 121 14. Gibson, Dunn & Crutcher LLP 31,435.7 21

15. Greenhill & Co., Inc. 29,736.7 14 15. Linklaters LLP 28,251.8 37

16. Centerview Partners LLC 27,612.7 7 16. Hogan Lovells LLP 31,430.3 48

17. LionTree LLC 27,393.8 9 17. Sullivan & Cromwell LLP 25,622.6 14

18. Deutsche Bank AG 22,597.4 23 18. Shearman & Sterling LLP 25,548.9 18

19. Macquarie Group 22,328.1 23 19. Weil, Gotshal & Manges LLP 24,290.4 42

20. Jefferies LLC 19,789.6 39 20. CMS Cameron Mckenna Nabarro 27,526.4 114

21. Lazard 19,103.7 44 21. Cleary Gottlieb Steen & Hamilton LLP 21,746.3 16

22. Guggenheim Capital LLC 15,834.1 1 22. Ropes & Gray LLP 20,675.2 18

23. HSBC Holdings Plc 14,553.6 13 23. Dentons Rodyk & Davidson LLP 16,552.4 20

24. RBC Capital Markets 13,975.3 18 24. AZB & Partners 15,896.3 10

25. Gleacher Shacklock LLP 13,290.7 3 25. De Brauw Blackstone Westbroek NV 14,463.6 4

26. PricewaterhouseCoopers 11,909.5 108 26. Khaitan & Co. LLP 13,943.3 11

27. Mizuho Financial Group, Inc. 11,653.5 5 27. Fried, Frank, Harris, Shriver & Jacobson 13,595.9 11

28. FTI Consulting, Inc. 11,349.9 48 28. Stikeman Elliott LLP 12,997.8 18

29. Dyal Co. LLC 10,716.8 2 29. Paul, Weiss, Rifkind, Wharton & Garrison 12,977.1 11

30. Mitsubishi UFJ Morgan Stanley Securities 10,476.8 3 30. Arnold & Porter Kaye Scholer LLP 12,595.8 7

31. Investec Ltd. 8,688.1 4 31. Cyril Amarchand Mangaldas 11,828.7 7

32. Nordea Bank Abp 7,740.4 1 32. Shardul Amarchand Mangaldas & Co. 10,606.2 2

33. Natixis SA 6,614.1 15 33. White & Case LLP 10,523.7 18

34. KPMG International Coop. 6,541.7 115 34. Baker & McKenzie LLP 10,507.3 19

35. Deloitte LLP 5,475.3 48 35. Macfarlanes LLP 10,487.4 25

36. Daiwa Securities Group Inc. 5,276.4 25 36. Allen & Gledhill LLP 10,481.2 2

37. Société Générale SA 4,517.4 3 37. Gunderson Dettmer Stough Villeneuve 10,356.2 1

38. Canadian Imperial Bank of Commerce 4,207.1 4 38. Ogier Group LP 9,692.3 4

38. M. Klein & Co. LLC 4,207.1 1 39. Foley Gardere 8,279.2 4

40. Simon Robertson Associates LLP 4,194.6 1 40. Baker Botts LLP 7,984.8 3

41. Numis Corp. Plc 4,185.1 32 40. Greenwoods & Herbert Smith Freehills 7,984.8 1

42. Moelis & Co. 3,686.8 18 42. Plesner Advokatfirma 7,740.4 1

43. Axis Bank Ltd. 3,670.3 2 43. Uría Menéndez Abogados SLP 7,582.2 11

44. Carnegie ASA 3,569.7 7 44. Gianni, Origoni, Grippo, Cappelli 7,380.6 13

45. Arma Partners LLP 3,482.2 20 45. Legance 0 Avvocati Associati 6,707.4 5

46. NovaDhruva Capital Pvt Ltd. 3,377.3 2 46. Ashurst LLP 6,700.3 20

47. Fenchurch Advisory Partners LLP 3,332.6 6 47. Travers Smith LLP 5,614.8 18

48. Raymond James Financial, Inc. 3,124.6 12 48. Norton Rose Fulbright LLP 5,096.2 10

49. William Blair & Co. 3,088.1 28 49. Gattai, Minoli, Agostinelli & Partners 5,052.3 4

50. BDO LLP 2,688.6 165 50. DLA Piper Group 4,753.2 41




4th Quarter 2018




UK: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS



Deals**


Value (£Mil)*

Total

Deals**

1. BDO LLP £2,688.6 165 1. CMS Cameron Mckenna Nabarro £27,526.4 114

2. Rothschild & Co 69,078.4 128 2. Allen & Overy LLP 41,351.2 92

3. Ernst & Young Global Ltd. 38,229.1 121 3. Addleshaw Goddard LLP 2,588.9 87

4. KPMG International Coop. 6,541.7 115 4. Squire Patton Boggs (US) LLP 3,624.1 76

5. PricewaterhouseCoopers 11,909.5 108 5. Latham & Watkins LLP 54,932.9 68

6. MacIntyre Hudson LLP 735.1 78 6. Clifford Chance LLP 70,837.1 65

7. Goldman Sachs & Co. 120,187.3 67 7. Kirkland & Ellis LLP 35,575.5 60

8. JPMorgan Chase & Co 109,014.9 57 8. Freshfields Bruckhaus Deringer LLP 109,221.2 48

9. Deloitte LLP 5,475.3 48 8. Herbert Smith Freehills LLP 80,338.5 48

9. FTI Consulting, Inc. 11,349.9 48 8. Hogan Lovells LLP 31,430.3 48

9. Morgan Stanley 142,708.9 48 11. Jones Day LP 1,521.3 46

12. Barclays Plc 103,831.8 46 12. Weil, Gotshal & Manges LLP 24,290.4 42

13. Lazard 19,103.7 44 13. DLA Piper Group 4,753.2 41

14. Citigroup 69,699.9 42 14. Slaughter & May Ltd. 87,961.7 40

15. Houlihan Lokey, Inc. 1,560.5 40 15. Linklaters LLP 28,251.8 37

16. Jefferies LLC 19,789.6 39 15. Osborne Clarke LLP 1,895.0 37

17. Evercore, Inc. 50,889.4 37 17. Skadden, Arps, Slate, Meagher & Flom 42,764.8 34

18. Bank of America Merrill Lynch 78,096.3 35 17. Pinsent Masons LLP 2,072.5 34

19. Numis Corp. Plc 4,185.1 32 19. Eversheds Sutherland 3,328.0 30

20. Credit Suisse 44,749.3 31 20. Macfarlanes LLP 10,487.4 25

21. Lincoln International LLC 967.4 30 21. Morgan, Lewis & Bockius LLP 1,254.4 23

22. Colmore LLP 436.8 29 22. Mayer Brown LLP 2,498.9 22

23. William Blair & Co. 3,088.1 28 22. Dorsey & Whitney LLP 2,386.2 22

24. UBS Group AG 76,381.2 26 24. Davis Polk & Wardwell LLP 59,317.1 21

25. Cenkos Securities Plc 1,747.3 25 24. Gibson, Dunn & Crutcher LLP 31,435.7 21

25. Daiwa Securities Group Inc. 5,276.4 25 24. Willkie Farr & Gallagher LLP 2,371.7 21

25. GCA Corp. 1,425.0 25 27. Dentons Rodyk & Davidson LLP 16,552.4 20

28. Deutsche Bank AG 22,597.4 23 27. Ashurst LLP 6,700.3 20

28. Liberum Capital Ltd 301.6 23 29. Cravath, Swaine & Moore LLP 33,083.0 19

28. Macquarie Group 22,328.1 23 29. Baker & McKenzie LLP 10,507.3 19

31. Robert W. Baird & Co. 2,431.7 21 31. Shearman & Sterling LLP 25,548.9 18

32. Arma Partners LLP 3,482.2 20 31. Ropes & Gray LLP 20,675.2 18

33. ALANTRA 417.5 19 31. Stikeman Elliott LLP 12,997.8 18

34. Moelis & Co. 3,686.8 18 31. White & Case LLP 10,523.7 18

34. RBC Capital Markets 13,975.3 18 31. Travers Smith LLP 5,614.8 18

36. Eight Advisory SAS 1,151.7 17 36. Paul Hastings LLP 2,101.9 17

36. finnCap Group Plc 655.3 17 36. Taylor Wessing LLP 513.1 17

38. Grant Thornton International Ltd. 92.1 15 36. DWF LLP 208.8 17

38. Natixis SA 6,614.1 15 39. Cleary Gottlieb Steen & Hamilton LLP 21,746.3 16

40. Canaccord Genuity Group, Inc. 432.4 14 39. Goodwin Procter LLP 4,264.7 16

40. Greenhill & Co., Inc. 29,736.7 14 39. P+P Pöllath + Partners Rechtsanwälte 2,428.1 16

42. CF Group Management, Inc. 1,515.8 13 39. Charles Russell Speechlys LLP 1,255.5 16

42. HSBC Holdings Plc 14,553.6 13 39. Osborne Clarke OWA Ltd. 541.1 16

45. Raymond James Financial, Inc. 3,124.6 12 39. Gateley Plc 41.3 16

46. Alvarez & Marsal, Inc. 100.0 11 45. Simpson Thacher & Bartlett LLP 34,875.1 15

46. BNP Paribas SA 1,819.7 11 45. PricewaterhouseCoopers 2,677.6 15

46. Livingstone Partners LLC 225.6 11 45. Orrick, Herrington & Sutcliffe LLP 253.5 15

46. Mazars SA 54.0 11 45. Freeths LLP 89.1 15

46. Peel Hunt LLP 418.9 11 49. Sullivan & Cromwell LLP 25,622.6 14

46. WH Ireland Group Plc 31.7 11 49. Wilson Sonsini Goodrich & Rosati 1,684.0 14




4th Quarter 2018




ASIA EX-JAPAN: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE



Deals**

Legal Advisor

Transaction

Value ($Mil) *

Total

Deals**

1. Goldman Sachs & Co. $113,211.5 45 1. Allen & Overy LLP $58,440.0 53

2. Morgan Stanley 107,860.9 45 2. Herbert Smith Freehills LLP 52,353.4 109

3. Citigroup 97,154.0 53 3. Kirkland & Ellis LLP 50,520.3 25

4. JPMorgan Chase & Co 91,234.7 48 4. Linklaters LLP 45,737.6 13

5. UBS Group AG 87,155.2 45 5. Shearman & Sterling LLP 42,509.9 15

6. Bank of America Merrill Lynch 80,664.6 31 6. Weil, Gotshal & Manges LLP 32,516.7 12

7. Macquarie Group 56,479.1 47 7. Simpson Thacher & Bartlett LLP 32,308.9 15

8. Lazard 37,838.6 30 8. Sullivan & Cromwell LLP 32,059.8 15

9. Barclays Plc 34,618.9 19 9. Clifford Chance LLP 31,922.4 32

10. Credit Suisse 33,258.9 41 10. Gibson, Dunn & Crutcher LLP 30,486.4 12

11. Ernst & Young Global Ltd. 30,520.9 77 11. Serra Lopes, Cortes Martins & Associados 29,302.1 1

12. Evercore, Inc. 29,827.3 20 12. King & Wood Mallesons Ltd. 27,178.9 58

13. HSBC Holdings Plc 24,522.6 14 13. Latham & Watkins LLP 27,141.2 36

14. Rothschild & Co 22,717.2 48 14. Greenwoods & Herbert Smith Freehills 26,410.9 9

15. Deutsche Bank AG 22,611.3 21 15. Cyril Amarchand Mangaldas 26,197.7 33

16. Huatai Securities Co., Ltd. 21,522.3 38 16. Freshfields Bruckhaus Deringer LLP 26,120.1 17

17. CSC Financial Co., Ltd. 17,315.4 30 17. Khaitan & Co. LLP 23,407.9 48

18. Moelis & Co. 16,408.4 19 18. Fried, Frank, Harris, Shriver & Jacobson 21,577.0 4

19. Centerview Partners LLC 15,340.6 3 19. AZB & Partners 21,242.9 68

20. CITIC Securities Co., Ltd. 15,319.8 38 20. Shardul Amarchand Mangaldas & Co. 20,279.7 10

21. RBC Capital Markets 14,405.7 11 21. Hogan Lovells LLP 19,574.9 29

22. Gresham Partners Ltd. 12,997.0 7 22. Cleary Gottlieb Steen & Hamilton LLP 15,159.8 9

23. KPMG International Coop. 12,951.1 86 23. Dentons Rodyk & Davidson LLP 14,845.7 7

24. The Valence Group LLC 12,808.0 3 24. Baker Botts LLP 14,840.6 4

25. China Investment Corp. 12,678.8 32 25. Wachtell, Lipton, Rosen & Katz 14,772.4 3

26. Citi Orient Securities Co., Ltd. 12,548.0 4 26. Allen & Gledhill LLP 14,151.0 3

27. Grant Samuel & Associates Pty Ltd. 12,457.7 5 27. Gunderson Dettmer Stough Villeneuve 14,150.0 3

28. The Toronto-Dominion Bank 11,049.4 2 28. Davis Polk & Wardwell LLP 13,909.5 9

29. Canson Ltd. 11,000.0 1 29. Ashurst LLP 13,677.3 12

29. Guggenheim Capital LLC 11,000.0 1 30. Dechert LLP 13,030.0 6

31. Robey Warshaw LLP 10,500.0 1 31. Proskauer Rose LLP 12,750.5 5

32. Nomura Securities Co., Ltd. 9,446.5 8 32. De Brauw Blackstone Westbroek NV 12,566.4 1

33. Mitsubishi UFJ Morgan Stanley Securities 9,326.9 4 32. Loyens & Loeff NV 12,566.4 3

34. Greenhill & Co., Inc. 6,740.5 13 34. Skadden, Arps, Slate, Meagher & Flom 12,410.9 17

35. Nordea Bank Abp 6,305.7 2 35. Paul, Weiss, Rifkind, Wharton & Garrison 12,289.3 12

36. PricewaterhouseCoopers 6,244.8 43 36. Arnold & Porter Kaye Scholer LLP 11,906.5 5

37. Axis Bank Ltd. 5,792.4 8 37. Slaughter & May Ltd. 11,658.6 14

38. State Bank of India 5,787.4 1 38. Squire Patton Boggs (US) LLP 11,649.1 27

39. Haitong Securities Co. Ltd. 5,752.9 9 39. Jones Day LP 11,376.4 51

40. goetzpartners Corporate Finance GmbH 5,393.0 1 40. Norton Rose Fulbright LLP 11,367.4 11

41. Guotai Junan Securities Co., Ltd. 5,338.4 18 41. Allens Services Nominees Ltd. 11,229.7 21

42. Gram Capital Ltd. 5,083.6 24 42. Torys LLP 11,000.0 1

43. Jefferies LLC 5,009.0 15 43. Tian Yuan Law Firm 10,751.7 20

44. BNP Paribas SA 4,991.3 15 44. Foley Gardere 10,500.0 2

45. Changjiang Financing Services Co. Ltd. 4,960.7 2 45. Willkie Farr & Gallagher LLP 10,411.5 4

46. Deloitte LLP 4,854.0 42 46. Zhongzi Law Office 10,368.1 2

47. NovaDhruva Capital Pvt Ltd. 4,309.0 2 47. Stikeman Elliott LLP 10,000.0 2

49. Shenwan Hongyuan Financing Services 3,739.6 6 48. CMS Cameron Mckenna Nabarro 9,838.6 23

48. Zhong De Securities Co., Ltd. 3,680.2 9 49. Jun He Law Offices 9,650.0 10

50. Perella Weinberg Partners Group LP 3,375.6 2 50. Cravath, Swaine & Moore LLP 9,347.8 3




4th Quarter 2018




ASIA EX-JAPAN: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS



Deals**

Legal Advisor

Transaction


Deals**

1. KPMG International Coop. $12,951.1 86 1. Herbert Smith Freehills LLP $52,353.4 109

2. Ernst & Young Global Ltd. 30,520.9 77 2. AZB & Partners 21,242.9 68

3. BDO LLP 1,604.3 54 3. King & Wood Mallesons Ltd. 27,178.9 58

4. Citigroup 97,154.0 53 4. Allen & Overy LLP 58,440.0 53

5. JPMorgan Chase & Co 91,234.7 48 5. Jones Day LP 11,376.4 51

5. Rothschild & Co 22,717.2 48 6. Khaitan & Co. LLP 23,407.9 48

7. Macquarie Group 56,479.1 47 7. Latham & Watkins LLP 27,141.2 36

8. Goldman Sachs & Co. 113,211.5 45 8. Grandall Law Firm 8,375.7 35

8. Morgan Stanley 107,860.9 45 9. Cyril Amarchand Mangaldas 26,197.7 33

8. UBS Group AG 87,155.2 45 10. Clifford Chance LLP 31,922.4 32

11. PricewaterhouseCoopers 6,244.8 43 11. Baker & McKenzie LLP 8,277.5 31

12. Deloitte LLP 4,854.0 42 12. Hogan Lovells LLP 19,574.9 29

13. Credit Suisse 33,258.9 41 13. Squire Patton Boggs (US) LLP 11,649.1 27

14. Huatai Securities Co., Ltd. 21,522.3 38 14. Kirkland & Ellis LLP 50,520.3 25

14. CITIC Securities Co., Ltd. 15,319.8 38 15. CMS Cameron Mckenna Nabarro 9,838.6 23

16. China Investment Corp. 12,678.8 32 16. Allens Services Nominees Ltd. 11,229.7 21

17. Bank of America Merrill Lynch 80,664.6 31 16. DLA Piper Group 3,816.9 21

18. Lazard 37,838.6 30 18. Jiayuan Law Offices 5,847.3 20

18. CSC Financial Co., Ltd. 17,315.4 30 18. Tian Yuan Law Firm 10,751.7 20

20. Gram Capital Ltd. 5,083.6 24 20. Gilbert + Tobin 6,772.8 19

21. Deutsche Bank AG 22,611.3 21 21. Clayton Utz 9,038.5 18

22. Evercore, Inc. 29,827.3 20 21. DeHeng Law Offices 1,052.7 18

23. Barclays Plc 34,618.9 19 21. J. Sagar Associates 6,922.7 18

23. Moelis & Co. 16,408.4 19 24. Freshfields Bruckhaus Deringer LLP 26,120.1 17

23. Somerley Group Ltd. 2,648.6 19 24. Skadden, Arps, Slate, Meagher & Flom 12,410.9 17

26. Guotai Junan Securities Co., Ltd. 5,338.4 18 26. Zhong Lun Law Firm 1,581.9 16

27. Kingston Securities Ltd. 651.4 17 27. Blake, Cassels & Graydon LLP 8,434.7 15

27. Sinolink Securities Co., Ltd. 570.3 17 27. Shearman & Sterling LLP 42,509.9 15

29. Jefferies LLC 5,009.0 15 27. Simpson Thacher & Bartlett LLP 32,308.9 15

29. BNP Paribas SA 4,991.3 15 27. Sullivan & Cromwell LLP 32,059.8 15

31. HSBC Holdings Plc 24,522.6 14 31. Slaughter & May Ltd. 11,658.6 14

31. Houlihan Lokey, Inc. 644.8 14 32. Beijing Guofeng Law Firm 5,626.1 13

33. Greenhill & Co., Inc. 6,740.5 13 32. Linklaters LLP 45,737.6 13

33. Guosen Securities Co., Ltd. 2,900.6 13 32. Morgan, Lewis & Bockius LLP 8,515.7 13

33. Tohigh Holdings Co,, Ltd. 2,057.9 13 32. Wilson Sonsini Goodrich & Rosati 603.9 13

33. Veda Capital Ltd. 165.4 13 36. Allbright Law Offices 2,223.1 12

37. Avendus Capital Pvt Ltd. 1,492.3 12 36. Ashurst LLP 13,677.3 12

37. Lego Corporate Finance Ltd. 492.9 12 36. Gibson, Dunn & Crutcher LLP 30,486.4 12

39. RBC Capital Markets 14,405.7 11 36. Morrison & Foerster LLP 3,906.0 12

39. Optima Capital Ltd. 248.6 11 36. Paul, Weiss, Rifkind, Wharton & Garrison 12,289.3 12

41. GF Securities Co., Ltd. 3,340.5 10 36. Weil, Gotshal & Manges LLP 32,516.7 12

41. China Huaneng Group Corp. 1,019.1 10 42. Fenwick & West LLP 1,780.0 11

41. Red Sun Capital Ltd. 475.7 10 42. Norton Rose Fulbright LLP 11,367.4 11

44. Haitong Securities Co. Ltd. 5,752.9 9 44. Alston & Bird LLP 4,005.6 10

44. Zhong De Securities Co., Ltd. 3,680.2 9 44. Jincheng Tongda & Neal Law Firm 831.4 10

44. RHB Bank Bhd. 1,698.0 9 44. Jun He Law Offices 9,650.0 10

44. Amasse Capital Ltd. 348.6 9 44. Shardul Amarchand Mangaldas & Co. 20,279.7 10

48. Nomura Securities Co., Ltd. 9,446.5 8 48. Cleary Gottlieb Steen & Hamilton LLP 15,159.8 9

48. Axis Bank Ltd. 5,792.4 8 48. Davis Polk & Wardwell LLP 13,909.5 9

48. ING Groep NV 1,291.5 8 48. Eversheds Sutherland 2,347.6 9




4th Quarter 2018

JAPAN: ANNOUNCED DEALS – RANKED BY NUMBER OF DEALS


Value (¥Mil)* Total

Deals** Legal Advisor Transaction


Deals**

1. Mizuho Financial Group, Inc. ¥9,917,491.7 70 1. Nishimura & Asahi ¥12,084,153.0 77

2. Daiwa Securities Group Inc. 1,448,320.4 38 2. Mori Hamada & Matsumoto 1,499,715.8 25

3. GCA Corp. 328,107.7 32 3. Jones Day LP 135,081.9 18

4. Nomura Securities Co., Ltd. 10,607,636.5 28 4. Herbert Smith Freehills LLP 1,525,958.8 15

5. Mitsubishi UFJ Morgan Stanley 3,339,285.3 27 5. Morrison & Foerster LLP 8,091,781.9 13

6. Sumitomo Mitsui Financial Group 7,167,204.6 26 5. Shearman & Sterling LLP 937,103.3 13

7. KPMG International Coop. 449,114.6 21 7. Nagashima Ohno & Tsunematsu 9,755,529.1 12

8. Frontier Management, Inc. 70,701.1 20 8. Pillsbury Winthrop Shaw Pittman LLP 7,299,528.8 11

9. Goldman Sachs & Co. 19,836,930.6 18 8. TMI Associates 407,013.6 11

10. JPMorgan Chase & Co 18,353,929.3 17 10 Latham & Watkins LLP 15,904,456.3 10

11. Morgan Stanley 17,564,923.5 16 10 Anderson Mori & Tomotsune 382,413.9 10

12. PricewaterhouseCoopers 211,110.5 14 10 Squire Patton Boggs (US) LLP 226,301.8 10

13. Citigroup 9,627,144.7 12 13 Sullivan & Cromwell LLP 11,661,201.6 9

14. Credit Suisse 8,532,444.4 11 13 Davis Polk & Wardwell LLP 9,709,006.8 9

14. Deloitte LLP 136,905.5 11 13 Allen & Overy LLP 503,100.7 9

16. Plutus Consulting Co. Ltd. 131,245.4 10 16 Skadden, Arps, Slate, Meagher 8,041,775.5 8

16. YAMADA Consulting Group Co., Ltd. 94,535.2 10 17 Weil, Gotshal & Manges LLP 7,600,820.6 7

18. Rothschild & Co 1,068,947.0 9 17 Baker & McKenzie LLP 1,527,640.4 7

19. Lazard 1,036,673.8 8 17 Kirkland & Ellis LLP 318,322.6 7

19. A.G.S. Consulting Co., Ltd. 85,524.3 8 17 CMS Cameron Mckenna Nabarro 90,237.1 7






Deals**



Deals**

1. Goldman Sachs & Co. ¥19,836,930.6 18 1. Latham & Watkins LLP ¥15,904,456.3 10

2. JPMorgan Chase & Co 18,353,929.3 17 2. Fried, Frank, Harris, Shriver & Jacobson 15,293,493.1 4

3. Morgan Stanley 17,564,923.5 16 3. Nishimura & Asahi 12,084,153.0 77

4. Evercore, Inc. 15,341,870.5 5 4. Sullivan & Cromwell LLP 11,661,201.6 9

5. Nomura Securities Co., Ltd. 10,607,636.5 28 5. Nagashima Ohno & Tsunematsu 9,755,529.1 12

6. Mizuho Financial Group, Inc. 9,917,491.7 70 6. Davis Polk & Wardwell LLP 9,709,006.8 9

7. Citigroup 9,627,144.7 12 7. Linklaters LLP 8,826,002.8 3

8. Credit Suisse 8,532,444.4 11 8. Ashurst LLP 8,708,860.6 2

9. Deutsche Bank AG 7,544,751.0 7 8. Mourant Ozannes LP 8,708,860.6 1

10. Sumitomo Mitsui Financial Group, Inc. 7,167,204.6 26 8. Ogier Group LP 8,708,860.6 1

11. PJT Partners, Inc. 6,943,217.1 2 8. Slaughter & May Ltd. 8,708,860.6 1

12. Centerview Partners LLC 6,486,564.6 2 12. Morrison & Foerster LLP 8,091,781.9 13

13. The Raine Group LLC 6,426,200.1 1 13. Skadden, Arps, Slate, Meagher & Flom 8,041,775.5 8

14. Mitsubishi UFJ Morgan Stanley Securities 3,339,285.3 27 14. Weil, Gotshal & Manges LLP 7,600,820.6 7

15. UBS Group AG 1,527,664.1 3 15. Pillsbury Winthrop Shaw Pittman LLP 7,299,528.8 11

16. Daiwa Securities Group Inc. 1,448,320.4 38 16. Simpson Thacher & Bartlett LLP 7,228,010.5 2

17. Bank of America Merrill Lynch 1,137,250.7 6 17. Cleary Gottlieb Steen & Hamilton LLP 7,112,271.5 4

18. Rothschild & Co 1,068,947.0 9 18. DLA Piper Group 7,061,359.7 6

19. Lazard 1,036,673.8 8 19. Cravath, Swaine & Moore LLP 6,634,585.9 2

20. Dyal Co. LLC 725,853.7 1 20. Wachtell, Lipton, Rosen & Katz 6,591,597.2 2

JAPAN: ANNOUNCED DEALS – RANKED BY TRANSACTION VALUE




4th Quarter 2018

TOP LAW FIRMS TO ACTIVISTS

Rank Legal Advisor Total

Campaigns**

1. Olshan Frome Wolosky LLP 86

2. Schulte Roth & Zabel 27

3. Willkie Farr & Gallagher 6

4. Akin Gump Strauss Hauer & Feld LLP 5

5. Sidley Austin LLP 4

6. Kleinberg, Kaplan, Wolff & Cohen 3

7. Dechert LLP 2

7. Foley & Lardner LLP 2

7. Haynes & Boone LLP 2

7. Kane Kessler PC 2

7. King & Spalding

*26 Firms Tied with 1 Campaign

2

** Based on activism announce date. US targeted companies only

If you would like to participate in our activism league table, please contact [email protected] or:

Michael Coronato E-Mail: [email protected]

COMPANY DEFENSE – TOP BANKS & LAW FIRMS

Rank Financial Advisor Total

Campaigns** Rank Legal Advisor

Total Campaigns**

1. Goldman Sachs 16 1. Vinson & Elkins LLP 27

2. Morgan Stanley 10 2. Wachtell Lipton Rosen & Katz 26

3. J.P. Morgan Chase & Co. 7 3. Latham & Watkins LLP 15

4. Centerview Partners 6 4. Sidley Austin LLP 14

4. Evercore Inc. 6 5. Kirkland & Ellis LLP 10

6. Deutsche Bank 4 6. Morgan Lewis & Bockius LLP 7

6. Stifel, Nicolaus & Company, Incorporated 4 6. Wilson Sonsini Goodrich & Rosati 7

8. Lazard Ltd 3 8. Paul Weiss Rifkind Wharton & Garrison 6

9. Citigroup Global Markets Inc. 2 8. Simpson Thacher & Bartlett LLP 6

9. Peter J. Solomon Co. LP 2 8. Skadden Arps Slate Meagher & Flom LLP 6

11. BofA Merrill Lynch Global Research 1 11. Sullivan & Cromwell LLP 4

11. Charlesmead Advisors LLC 1 11. Weil Gotshal & Manges LLP 4

11. Credit Agricole Corporate and Investment 1 13. Faegre Baker Daniels LLP 3

11. Credit Suisse 1 13. Hogan Lovells US LLP 3

11. Duff & Phelps, LLC 1 13. Jones Day 3

11. Guggenheim Securities, LLC 1 16. Akerman LLP 2

11. Jefferies LLC 1 16. Cravath Swaine & Moore 2

11. Macquarie Capital (USA) Inc. 1 16. Fenwick & West LLP 2

11. Perella Weinberg Partners 1 16. Fried Frank Harris Shriver & Jacobson 2

11. Peter J. Solomon Securities Co. Ltd. 1 16. Gibson Dunn & Crutcher LLP 2

11. Petrie Partners LLC 3 16. Goodwin Procter LLP 2

11. Tudor, Pickering, Holt & Co. Securities 1

16. Seward & Kissel LLP

*29 Firms Tied with 1 Campaign

2





4th Quarter 2018

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