Sullivan & Cromwell and Kirkland & Ellis were the top mergers and acquisitions (M&A) legal advisers in the global automotive sector for 2020 by value and volume, respectively. Sullivan & Cromwell advised on five deals worth $10.28bn, which was the highest value among all advisers. Meanwhile, Kirkland & Ellis led in volume terms having advised on nine deals worth $3.7bn. A total 722 M&A deals were announced in sector during 2020, marking an 1.55% increase over the 711 deals announced in 2019, according to GlobalData, a leading data and analytics company.
According to GlobalData's report, 'Global and Automotive M&A Report Legal Adviser League Tables 2020', deal value decreased by 42.12% from $69.36bn in 2019 to $40.14bn in 2020.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: "None of the advisors in the automotive sector registered double-digit deal volume during the COVID-19-hit 2020 and only one advisor, Sullivan & Cromwell, managed to cross the $10bn mark. Sullivan & Cromwell advised on three billion-dollar deals worth greater than or equal to $1bn. It also occupied the fourth position in terms of volume.
"Meanwhile, Kirkland & Ellis, despite advising on a relatively greater number of deals, failed to secure a ranking in the list of top ten advisers by value. It advised on a single billion-dollar deal only."
Skadden, Arps, Slate, Meagher & Flom occupied the second position in GlobalData's ranking of legal advisers for M&As in the global automotive sector by value with four deals worth $7.23bn, followed by Davis Polk & Wardwell and Weil Gotshal & Manges with three deals each worth $6.3bn and $6.28bn, respectively.
Baker McKenzie occupied second position by volume with nine deals worth $2.53bn followed by Jones Day with six deals worth $245m.
Automotive M&A Top 10 Legal Advisers by Total Deal Value (2020)
| 2020 rank | 2019 rank | Adviser | Number of deals 2020 | 2020 Value ($m) | Number of deals 2020 | 2019 Value ($m) |
| 1 | 1 | Sullivan & Cromwell | 5 | 10281 | 5 | 51994 |
| 2 | 3 | Skadden, Arps, Slate, Meagher & Flom | 4 | 7228 | 2 | 40007 |
| 3 | 4 | Davis Polk & Wardwell | 3 | 6300 | 3 | 32688 |
| 4 | 16= | Weil Gotshal & Manges | 3 | 6283 | 2 | 1150 |
| 5 | 13 | Freshfields Bruckhaus Deringer | 4 | 5176 | 4 | 7631 |
| 6 | 8= | Linklaters | 2 | 4672 | 1 | 18856 |
| 7 | 20 | Simpson Thacher & Bartlett | 3 | 4573 | 2 | 900 |
| 8= | - | Debevoise & Plimpton | 2 | 4000 | - | - |
| 8= | - | Wilson Sonsini | 2 | 4000 | - | - |
| 10 | - | Wachtell Lipton Rosen & Katz | 1 | 4000 | - | - |
Source: GlobalData Deals Database
Note: GlobalData's league table rankings is based on deal value. If value remains same for multiple advisers, deal volume is given weightage.
Automotive M&A Top 10 Legal Advisers Ranked by Volume (2020)
| 2019 rank | Adviser | Number of deals 2020 | 2020 Value ($m) | Number of deals 2020 | 2019 Value ($m) | |
| 1 | 2 | Kirkland & Ellis | 9 | 3706 | 7 | 1490 |
| 2 | 25 | Baker McKenzie | 9 | 2532 | 2 | 248 |
| 3 | 16= | Jones Day | 6 | 245 | 3 | - |
| 4 | 3 | Sullivan & Cromwell | 5 | 10281 | 5 | 51994 |
| 5 | 16= | Ropes & Gray | 5 | 2471 | 3 | - |
| 6 | 4 | Latham & Watkins | 5 | - | 5 | 7668 |
| 7 | 19= | Skadden, Arps, Slate, Meagher & Flom | 4 | 7228 | 2 | 40007 |
| 8 | 8 | Freshfields Bruckhaus Deringer | 4 | 5176 | 4 | 7631 |
| 9 | 5 | DLA Piper | 4 | 111 | 5 | 1004 |
| 10 | 7 | Willkie Farr & Gallagher | 4 | 33 | 4 | 19280 |
Source: GlobalData Deals Database
Note: GlobalData's league table rankings is based on deal value. If value remains same for multiple advisers, deal volume is given weightage.
MAGAZINE
