Sullivan & Cromwell continues to lead all law firm advisers in announced and completed global deals in 2023, according to Bloomberg and LSEG. The Firm advised on global announced deals totaling more than $345 billion, representing a 12.1 percent market share, per Bloomberg, and on completed global deals totaling more than $431 billion, representing a 16.9 percent market share, per LSEG.
S&C ranked first in the following categories:
- Global announced deals ($345.9 billion), Bloomberg
- Canada announced deals ($64.9 billion), Bloomberg
- Global completed deals ($431.6 billion), LSEG
- Any U.S. involvement completed deals ($307.2 billion), LSEG
- U.S. completed deals representing target ($289.8 billion), LSEG
- Any Canadian involvement announced deals ($35.8 billion), LSEG
- Any French involvement completed deals ($26.7 billion), LSEG
Clients regularly turn to S&C for big-ticket M&A—the average value of S&C’s completed deals in 2023 was more than $3 billion (LSEG) and the average value of the Firm’s announced deals in 2023 was more than $2.3 billion (Bloomberg). Last year, S&C advised on:
- Seagen’s $43 billion acquisition by Pfizer, the largest all-cash change-of-control pharma deal in history
- Amgen’s $27.8 billion acquisition of Horizon Therapeutics, the largest announced healthcare merger in 2022
- Enbridge’s $14 billion pending purchase of three utilities providers, a deal that will create North America’s largest natural gas utility platform by volume
- Credit Suisse’s $3.2 billion merger with UBS, the first combination of two global systemically banks
- Cementos Argos’ $3.2 billion pending merger with Summit Materials, which will create the fourth-largest cement platform in the United States
- Subway’s milestone deal with Roark Capital, which will significantly expand the quick-service restaurant brand’s global presence
- C&S Wholesale Grocers’ $1.9 billion pending acquisition of hundreds of assets from The Kroger Company and Albertsons Companies, a deal that will strengthen the grocer’s supply chain solutions
- Majorel’s €3 billion proposed public takeover by Teleperformance, which would create a leading digital business services company with a strong presence in all major global economies
