S&C Tops M&A Rankings for Global Dealmaking Through Q3 2023

Through the third quarter of 2023, Sullivan & Cromwell continued to lead all law firm advisers in announced global deals, according to Refinitiv. The Firm advised on announced deals totaling approximately $269 billion worldwide, representing a 13.4 percent market share.

S&C ranked first in the following categories:

• Global deals ($269.0 billion)
• Canada deals ($60.5 billion)
• Europe completed deals ($95.1 billion)
• France completed deals ($23.1 billion)

Melissa Sawyer, Global Head of M&A, told Reuters that she expects a steady flow of deals through the remainder of the year. “I think all these predictions of the demise of M&A are overblown,” said Melissa.

Clients regularly turn to S&C for big-ticket M&A—the average value of S&C’s deals in 2023 is approximately $2 billion (Refinitiv). This year, S&C has advised:

• Seagen in its $43 billion pending acquisition by Pfizer, the largest deal announced in 2023;
• Enbridge in its $14 billion acquisition of three utilities providers from Dominion Energy;
• Credit Suisse in its $3.2 billion merger with UBS;
• Cementos Argos in its $3.2 billion agreement to combine its U.S. operations with Summit Materials;
• Majorel in its €3 billion proposed public takeover by Teleperformance;
• Subway in its acquisition by Roark Capital;
• C&S Wholesale Grocers in its acquisition of assets from The Kroger Company and Albertsons Companies; and
• New York Community Bancorp subsidiary Flagstar Bank in its acquisition of assets and liabilities from Signature Bridge Bank