What was the total value of global M&A deals in 2025?

Global announced M&A deals in 2025 reached $4.6 trillion.

Which law firms advised on the most M&A deals in 2025?

Kirkland & Ellis led with $829 billion in advised deals, followed by Latham & Watkins with $719 billion.

Are law firms expecting M&A activity to continue in 2026?

Yes, dealmakers are highly optimistic, expecting 2026 to be at least as busy as 2025 due to favorable market conditions.

Home / Business and Economy / Law Firms Ride M&A Boom: 2025 Sees Record Mega-Deals

Law Firms Ride M&A Boom: 2025 Sees Record Mega-Deals

8 Jan

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Summary

Global M&A deals hit $4.6 trillion in 2025, a 49% annual increase.
A record 68 'mega deals' worth over $10 billion were announced last year.
Top law firms like Kirkland & Ellis and Latham & Watkins saw significant value increases.

Law Firms Ride M&A Boom: 2025 Sees Record Mega-Deals

Law firms reveled in a near-record year for mergers and acquisitions in 2025, with a significant increase in transactions valued at $10 billion or more. Global announced M&A deals reached $4.6 trillion, a 49% surge compared to the previous year and the highest figure since the 2021 peak.

Last year saw a record 68 "mega deals" exceeding $10 billion, the most since records commenced in 1980. Top-tier legal advisors experienced substantial growth, with Chicago-founded Kirkland & Ellis leading with $829 billion in advised deals. Latham & Watkins followed closely, advising on $719 billion in transactions, a 125% increase over 2024.

Experts anticipate this trend to persist into 2026, citing factors like interest rate cuts and increasing deal complexity. Firms like Goodwin Procter, which led by deal volume, and Wachtell Lipton Rosen & Katz reported robust pipelines. This heightened activity is expected to continue, with many expecting 2026 to potentially surpass last year's record.