Sullivan & Cromwell led all law firm advisers in announced global deals in the first quarter of 2025, according to LSEG. The Firm advised on global announced deals totaling more than $124 billion, representing a 14.1 percent market share.
S&C ranked first in the following categories:
- Global announced deals ($124.8 billion)
- Global announced deals including withdrawn ($128.2 billion)
- Any U.S. involvement completed deals ($70.9 billion)
- Any China involvement announced deals ($9.5 billion)
Clients regularly turn to S&C for big-ticket M&A—the average value of S&C’s announced deals in the first quarter of 2025 was $2.7 billion. In the first quarter, S&C advised on:
- xAI and X’s $113 billion merger
- ENN Natural Gas’ proposed $HK90.5 billion ($11.6 billion) privatization of ENN Energy Holdings
- Viridium’s $3.8 billion pending acquisition by Allianz, BlackRock and T&D Holdings