Kirkland & Ellis leads global M&A adviser rankings, Latham tops by deals

Source published 1h 17m agoTerminal published 1h 14m ago

Summary

In the first nine months of 2026, Kirkland & Ellis emerged as the leading global M&A legal adviser by deal value, while Latham & Watkins topped the rankings by the number of deals advised, according to LSEG data released on October 2. Despite a strong overall performance in M&A, with $3.9 trillion in deals announced—a 28% increase from the previous year—aggregate deal value plunged by 41% in the third quarter compared to the second quarter, marking the first dip below $1 trillion since mid-2025. This decline is attributed to factors such as stock market volatility, rising oil prices, and persistent inflation, although both Kirkland and Latham expect continued activity in the fourth quarter despite the cautious outlook for larger transactions.

Analysis

LSEG: LSEG is a financial markets infrastructure and data provider that releases periodic rankings of M&A legal advisers. It published the latest adviser rankings on October 2, 2026, highlighting shifts in deal activity. The organization serves as the authoritative source for the reported M&A trends in the news. Paul Kukish: Paul Kukish serves as global co-chair of Latham's M&A and private equity practice. He stated expectations for continued caution on larger deals in the fourth quarter of 2026 without a full market pause. His remarks were included in the LSEG-related coverage of adviser performance. Josh Zachariah: Josh Zachariah leads the M&A group at Goodwin Procter. In the news, he commented on recent market volatility affecting dealmaking, noting it aligns with patterns seen in prior years. He observed headwinds including stock market fluctuations, rising oil prices, and persistent inflation. Kirkland & Ellis: Kirkland & Ellis is a major international law firm known for its work in mergers and acquisitions. In the news, it ranked as the top global M&A legal adviser by deal value for the first nine months of 2026 according to LSEG data. The firm advised on a high volume of transactions during this period amid fluctuating market conditions. Latham & Watkins: Latham & Watkins is a global law firm with a strong presence in corporate transactions and advisory services. It topped the LSEG rankings for the number of M&A deals advised on in the first nine months of 2026. Paul Kukish, a leader at the firm, provided commentary on expectations for deal activity in the fourth quarter. Sullivan & Cromwell: Sullivan & Cromwell is a prominent law firm specializing in complex corporate and financial matters. It placed second in LSEG's global M&A adviser rankings by deal value for the first nine months of 2026. The firm had no immediate comment on the latest data release. M&A Trends: M&A dealmaking showed overall strength in the first three quarters of 2026 but experienced a notable slowdown in the third quarter due to market volatility and economic pressures. Adviser Landscape: Law firms continue to handle substantial M&A workloads despite quarterly fluctuations, with multiple top advisers reporting ongoing activity into the fourth quarter.

Summary

Analysis

Categories