In the latest legal advisers league table shared by GlobalData, Herbert Smith Freehills and AZB & Partners were recognised as leading legal advisors for mergers and acquisitions (M&A) in the Asia-Pacific region last year, based on value and volume respectively.

Analysis shared by GlobalData revealed Herbert Smith Freehills achieved its leading position based on value by advising on deals worth $27.9bn.

Meanwhile, AZB & Partners led in terms of volume by advising on a total off 55 deals.

GlobalData’s lead analyst Aurojyoti Bose said: “AZB & Partners was the only firm to have advised on more than 50 deals during 2023. Apart from leading by volume, it also occupied the eighth position by value. Meanwhile, Herbert Smith Freehills was among the only two advisers with more than $20bn in total deal value during 2023. It advised on five billion-dollar deals, including a megadeal valued at more than $10bn.”

Bose noted that apart from leading value, Herbert Smith Freehills also occupied the seventh position by volume.

The analysis revealed Cravath Swaine & Moore occupied the second position in terms of value, by advising on $20.5bn worth of deals. Others that followed included McCarthy Tetrault with $19.6bn, Ropes & Gray with $16.9bn and White & Case with $16.5bn.

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GlobalData also highlighted that Khaitan & Co secured second place in the list when it came to volume with 41 deals. It was closely followed by firms Baker McKenzie with 40 deals, TriLegal with 36 deals, and Allen & Overy with 34 deals.

GlobalData recently named financial services group UBS the top financial advisor for mergers and acquisitions in the Asia-Pacific group in 2023.

In November 2023, Herbert Smith Freehills also topped the charts when measuring the value of deals between Q1 and Q3 last year, while AZB & Partners advised on the most transactions, according to GlobalData.

Last month (January), Ed Bradley, founder and CEO of European dropshipping platform Virtualstock told Just Style that M&A activity focused on fortifying supply chains would be a key tool in the arsenal of fashion executives going into 2024.