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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
2004.
    Top Ten Law Firms Advising U.S. Buyers and Sellers on Announced Deals,
    2004
    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
About Bloomberg
Bloomberg L.P. is the leading global provider of news, data and
analysis. The BLOOMBERG TERMINAL, also called the BLOOMBERG
PROFESSIONAL(R) SERVICE, and Bloomberg's news services provide
reporting, analytics, real-time and historical pricing, indicative
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BLOOMBERG TELEVISION(R), the 24-hour business and financial network
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and on WBBR 1130AM in New York. In addition, Bloomberg Magazine Group
and Bloomberg Press publish magazines and books for investment
professionals. BLOOMBERG TELEVISION and BLOOMBERG RADIO are
syndicated to more than 800 affiliates worldwide. For more
information please visit http://www.bloomberg.com.
About Bloomberg Law
Bloomberg Law is an all-inclusive legal research tool providing
in-depth legal analysis, filings, opinions, real-time and archival
news, indexes, rankings, company and biographical information,
research and streaming live trial coverage on a single, integrated
desktop platform. Bloomberg Law is part of the comprehensive
Bloomberg terminal. Bloomberg Law allows Bloomberg users access to a
powerful suite of legal and regulatory research tools including
real-time and historic online legal databases, daily litigation and
regulatory summaries, plus real-time legal, regulatory and compliance
reports. Bloomberg users can conduct research across fully
comprehensive US Federal and State case law histories, legal case
filings and dockets. Bloomberg Law provides access to Bloomberg's
comprehensive regulatory databases (including SEC, NASD and NYSE) as
well as academic legal journals, legal practice manuals and updates,
plus a range of other legal current awareness services, all fully
integrated with Bloomberg's powerful search tools. Bloomberg Law is
accessible on the Bloomberg terminal at BLAW <GO>.
Website: http://www.bloomberg.com

Contact:

Loren Riegelhaupt of Sloane & Company, +1-212-446-1871, or
lriegelhaupt@sloanepr.com, for Bloomberg

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