American law firms see success in UK’s mergers market
In 2024, U.S. law firms saw a significant increase in their market share in the United Kingdom’s mergers and acquisitions sector, as per recent data. According to Law.com, Latham & Watkins emerged as the top legal advisor for mergers and acquisitions in the UK, completing 116 deals with a total value of $66.2 billion last year. This marked a significant shift for the firm, which ranked third in 2023 but climbed to the top spot in 2024, securing 20.4% of the market.
Sam Neuhouse, the global vice chair of Latham & Watkins’ mergers and acquisitions practice, attributed the firm’s success to years of effort in building a quality team, amassing bench strength, and establishing a leading position in the market. Neuhouse expressed the firm’s ambitious outlook for the future, emphasizing their relentless drive for growth and success.
Another U.S. firm making strides in the UK’s mergers and acquisitions market was Kirkland & Ellis, which advanced to the fifth position and secured an 11.9% market share. Law.com highlighted the increasing presence of U.S. law firms in the UK market, noting that in 2022, only seven of the top 20 advisors were U.S.-based. However, this number rose to 14 out of the top 20 in the following year, signifying a notable shift towards American law firms dominating the market.
Among the firms expanding their footprint in the UK’s mergers and acquisitions landscape were Skadden, Arps, Slate, Meagher & Flom; Gibson, Dunn & Crutcher; Paul, Weiss, Rifkind, Wharton & Garrison; and Ropes & Gray. Roger Johnson, the global co-chair of mergers and acquisitions at Paul Weiss, highlighted the firm’s significant growth in this area, with over 200 lawyers practicing English law in London. This positioning allows their clients to benefit from the extensive legal expertise in both London and New York, facilitating seamless handling of complex cross-border deals.
The surge of U.S. law firms in the UK’s mergers and acquisitions sector demonstrates a distinct trend towards American dominance in this market. With top firms like Latham & Watkins and Kirkland & Ellis leading the charge, the landscape of mergers and acquisitions in the UK is undergoing a significant transformation. This shift towards U.S. firms leading the way in UK deals underscores the global competitiveness and influence of American law firms in the international legal arena.
