The top lawyers from Freshfields Bruckhaus Deringer, Latham & Watkins, and Linklaters dominated the rankings for M&A and finance work in Europe, the Middle East, and Africa in 2023. Despite a slowdown in M&A transactions due to higher interest rates and inflation concerns, some marquee deals did push through, giving leading UK, US, and European law firms some plum roles. Data provider MergerLinks has revealed the top 10 M&A and finance lawyers in Emea, with Freshfields Bruckhaus Deringer’s Michael Hilton topping the Emea corporate rankings with a total of four deals valued at £30.5bn last year. While last year’s M&A activity was stronger in the Middle East, Clifford Chance corporate partner Steven Fox, who placed sixth on the rankings, expressed optimism that deal flow will see an uptick in 2024.
Latham & Watkins partner Jayanthi Sadanandan noted that private credit providers stepped up to fill the gap in the syndicated market as bank financing for deals became scarce last year. However, she anticipates that bank financing could make a strong comeback this year as interest rates fall, making it an attractive option again. Skadden Arps Slate Meagher & Flom advised on the credit financing of the acquisition of Adevinta, an online classified advertising business, last year, while its head of European banking practice, Pete Coulton, expects an uptick in M&A activity in 2024. On the other hand, Linklaters’ corporate partner Robert Cleaver expressed concern about macroeconomic and political events potentially impacting deals later in the year.
The Emea top corporate lawyers rankings saw Hilton from Freshfields Bruckhaus Deringer at the top, along with partners from Hengeler Mueller, Chiomenti, and Origoni Grippo Cappelli & Partners. On the other hand, the top financing lawyers listed Edward Fife from Slaughter and May at the top, followed by partners from Linklaters, Latham & Watkins, and Skadden Arps Slate Meagher & Flom. Despite the challenges and uncertainties, it seems that the legal sector remains optimistic for an improved year in 2024 in terms of M&A and financing activity.