A new Thomson Reuters report which analyzes deal activity in the first quarter indicates that although the number and value of deals is rising, only a few Atlanta-connected firms are even claiming a spot on transactional league tables.
First, the (mostly) good news: The value of worldwide mergers and acquisitions activity between Jan. 1 and March 31 rose 21 percent over the same period in 2009, totaling $573.3 billion, according to the report. Deal value still declined about 5 percent, however, between the fourth quarter of 2009, which saw $602.5 billion in deals, and the first quarter of 2010.
The number of announced deals—more than 9,000—rose 4 percent compared with last year.
The busiest firms working on worldwide announced deals include No. 1-ranked Cleary Gottlieb Steen & Hamilton, with 26 deals valued at $114.8 billion. Jones Day is the only locally connected firm on the list, with 95 pending deals valued at $18.2 billion.
Cravath, Swaine & Moore ranked No. 1 on deals completed during the first quarter, handling 12 valued at $84.7 billion. Again, Jones Day was the only locally connected firm, coming in at No. 21 with 95 deals valued at $22.9 billion.
Atlanta-connected firms fared better on lists focusing on work done or pending in the Americas. Alston & Bird, DLA Piper, Jones Day, McKenna Long & Aldridge and Sidley Austin all made lists of firms involved in U.S. or Canadian deals, though none took a top spot in terms of deal value.
In the European rankings, Greenberg Traurig snagged the No. 2 spot among firms handling Spanish deals; DLA Piper, Hunton & Williams, Jones Day, McKenna and Sidley Austin also made the European rankings.
Jones Day made several lists of firms handling Asia-connected deals. The firm, along with DLA Piper and Sidley Austin, also landed on lists of firms handling deals in Japan, Australia and New Zealand.
You can view the full report at Thomson Reuters.