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10.01.2005 – 14:06

Bloomberg L.P.

Bloomberg Unveils Global Law Firm Rankings for M&A

New York (ots/PRNewswire)

- Sullivan & Cromwell and Linklaters Led the Way in 2004; Huge
Rise in Activity Seen in 2004, Very Active Season Expected in 2005
Bloomberg, the leading global provider of business and financial
news and data, today unveiled its Bloomberg Law Merger, Acquisition
and Divestitures rankings for 2004. The global rankings are compiled
by Bloomberg as part of Bloomberg Law, a comprehensive legal
information, news and analytics resource accessible on the Bloomberg
terminal at BLAW <GO>. The Bloomberg Law rankings are based on the
total value of mergers, acquisitions and divestitures handled by
firms worldwide. The rankings are available real-time to Bloomberg
users as part of the all-inclusive Bloomberg terminal, also called
the Bloomberg Professional(R) service.
US Results
According to the year-end Bloomberg Law rankings, New York-based
Sullivan & Cromwell was the top firm for U.S. mergers, acquisitions
and divestitures in 2004, working on over US$278.4 billion worth of
deals. Sullivan & Cromwell beat out last year's top firm Skadden Arps
Slate Meagher & Flom, which totaled US$264.9 for 2004. Sullivan &
Cromwell secured the top spot in part by handling Aventis SA's
US$72.7 billion takeover from Sanofi-Synthelabo SA. The transaction
formed Sanofi-Aventis SA, and was the year's second-largest deal.
Wachtell Lipton Rosen & Katz (US$260.0), Linklaters (US$218.7) and
Cravath Swaine & Moore (US$197.7) rounded out the top five law firms
that handled transactions in the U.S.
All of top firms on the Bloomberg Law list saw a large increase in
activity from 2003, especially in the first and fourth quarters of
    Top Ten Law Firms Advising U.S. Buyers and Sellers on Announced Deals,
    All figures in US Dollars
     Firm                                 Value (billions)
     Sullivan & Cromwell                  $278.4
     Skadden Arps                         $264.9
     Wachtell Lipton                      $260.0
     Linklaters                           $218.7
     Cravath Swaine                       $197.7
     Simpson Thacher                      $196.3
     Clifford Chance                      $179.2
     Arnold & Porter                      $146.8
     Davis Polk                           $142.6
     Slaughter and May                    $137.6
Europe Results
In Europe, London-based Linklaters was the top firm, advising on
154 transactions that totaled over US$177.9 billion of deals, three
times the firm's 2003 numbers. Their biggest deal was
Sanofi-Synthelabo SA's US$72.7 billion takeover of Aventis SA and
Royal. Linklaters beat out Clifford Chance (US$157.3), Slaughter and
May (US$136.9), Sullivan & Cromwell (US$106.6) and Cravath Swaine &
Moore (US$103.0).
Overall, Europe experienced a 67 percent increase in value of
announced mergers, acquisitions and divestitures as deals totaled
over US$864.2 billion in 2004. Much like in the U.S., the first and
fourth quarters were the most active in Europe.
    Top Ten Law Firms Advising European Buyers and Sellers on Announced
    Deals, 2004
    All figures in US Dollars
                                          Value (Billions)
     Firm                                  2004        2003
     Linklaters                           $177.9       $55.8
     Clifford Chance                      $157.3       $59.7
     Slaughter and May                    $136.9       $47.9
     Sullivan & Cromwell                  $106.6       $17.9
     Cravath Swaine & Moore               $103.0        $7.5
     Bredin Prat & Associes                $95.2       $15.5
     Wachtell Lipton Rosen & Katz          $91.7        $8.2
     De Brauw Blackstone Westbroek         $83.1          --
     Davis Polk & Wardwell                 $80.6       $41.3
     Arnold & Porter                       $77.2       $11.6
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Loren Riegelhaupt of Sloane & Company, +1-212-446-1871, or, for Bloomberg