NEW YORK, April 15, 2016 /PRNewswire/ -- The Deal, a business unit of TheStreet, Inc. (NASDAQ: TST), announced the results of its rankings of the top firms involved in mergers and acquisitions for the first quarter of 2016 for deal assignments of $100 million or more that involved a U.S. company. The Deal reported that the first quarter saw significant foreign transactions, $92 billion—with the majority of transactions coming from Chinese bidders.
"We've seen a massive increase in cross-border takeovers by Chinese bidders in the first quarter. Dealmaking from China ended on a dramatic note, with insurer Anbang Insurance Group Inc. finally withdrawing from the bidding for Starwood Hotels & Resorts Worldwide Inc. on the last day of the quarter," said Laura Berman, reporter for The Deal. "Experts on cross-border transactions told The Deal that Sino-American mergers are likely to continue, particularly in industries like lodging where there are minimal national security implications."
League Table highlights:
- Kirkland & Ellis LLP remained as the top law firm with 25 deals; Skadden, Arps, Slate, Meagher & Flom LLP ranked second with 21 deals; Jones Day was third with 19; and Davis Polk & Wardwell LLP ranked fourth with 17 deals.
- Top law firms representing investment advisers included White & Case LLP, ranked first, with 12 deals; Sullivan & Cromwell LLP with 10 deals, ranked second. Alston & Bird LLP and Skadden, Arps, Slate, Meagher & Flom LLP tied for third, with five deals.
- Top Delaware law firms included Richards, Layton & Finger PA, ranked first, with seven deals; Morris, Nichols, Arsht & Tunell LLP, with five deals, ranked second; and Potter Anderson & Corroon LLP ranked third, with two deals.
- Top investment advisers included JPMorgan Chase & Co., ranked first, with 25 deals; Barclays Capital with 23 deals, ranked second. Goldman, Sachs & Co. was ranked third, with 19 deals. Lazard Ltd. ranked fourth with 16 deals and Morgan Stanley ranked fifth with 15 deals.
- Top proxy solicitors/information agents included Innisfree M&A Inc., ranked first, with 10 deals; D.F. King & Co. ranked second with three deals; Georgeson Inc., MacKenzie Partners Inc. and Morrow & Co. LLC tied for third with one deal, ranked third.
- The top public relations firms were Joele Frank, Wilkinson Brimmer Katcher, ranked first, with 18 deals; Sard Verbinnen & Co., with seven deals, was second; Abernathy MacGregor Group Inc. and Brunswick Group LLP tied for third with five deals.
The full report is available online.
About The Deal's M&A League Tables
Rankings include the names of lead M&A and/or corporate partners at law firms that represented principals and investment advisers. Only deals involving a change of control at a target company with a market value of $100 million or more are included, and only when a key party involved is a U.S. company. Unless the target is a recognized stand-alone operating business, rankings will not include asset sales, unit sales, sales of subsidiaries, spin-offs or joint ventures. Deals with undisclosed transactions values are not eligible. The Deal's M&A League Tables, which comes out each quarter, are cumulative across the year.
About The Deal
The Deal is a media and technology company providing over 100,000 users with actionable ideas from its two services - The Deal & BoardEx. Law firms, investment banks, private equity firms and hedge funds use The Deal service to find their next deal and BoardEx to connect the dots between their organizations and clients. The Deal is a business unit of TheStreet, Inc. (NASDAQ: TST) and has offices in New York, London, Washington, D.C., Petaluma, CA and Chennai, India. For more information, visit www.thedeal.com.
Contact: Ashley Klepach, 212.321.5048, aklepach at thedeal.com
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SOURCE TheStreet, Inc.