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Australian firms top M&A survey

Briefs

Cite as: (2004) 78(3) LIJ, p. 15

Clayton Utz and Baker & McKenzie have recorded two of the largest increases in the value of work by firms in the area of mergers and acquisitions in 2003.

The Thomson Financial worldwide survey of mergers and acquisitions showed that Clayton Utz ranked third in the value of deals announced in the Asia-Pacific region – excluding Japan – last year.

The firm was involved in more than $18.2 billion worth of announced deals, a jump of 225 per cent on the 2002 figure of $5.6 billion.

This placed Clayton Utz third behind fellow Australian firm Allens Arthur Robinson ($28.4 billion) and Mallesons Stephen Jaques ($21.7 billion).

The value of announced merger and acquisition deals in which Baker & McKenzie was involved jumped 467 per cent from $1.3 billion in 2002 to $7.7 billion last year.

The dominance of Australian firms continued in the category of involvement in merger and acquisition deals completed, with the top four places occupied by local firms.

Allens Arthur Robinson ($25.7 billion) and Mallesons Stephen Jaques ($23.9 billion) were the top two firms for 2003, with Clayton Utz boosting the value of the completed deals it was involved with by 150 per cent in 2002 to $13.7 billion.

Freehills ranked fourth with involvement in almost $12 billion worth of completed deals.

Overall, firms shared in $100.38 billion worth of announced and completed merger and acquisition deals in the Asia Pacific region in 2003, an increase of almost $18 billion over the 2002 figure.

An increase in merger and acquisition activity and a drop in non-legal involvement in deals resulted in the extra business for law firms.

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