Mallesons Stephen Jaques is leading the pack as the top legal adviser, by deal value, for announced M&A deals so far this year.

According to the latest Thomson Reuters deals table, the firm has advised on 19 announced deals, valued at a total of $US 12.2 billion ($17.1 billion). Second on the table is M&A powerhouse Freehills, which has advised on 21 deals valued at $US 11.1 billion, and Johnson Winter & Slattery wind out the top three, with seven deals totalling $US10 billion. UK Magic Circle firms Clifford Chance and Linklaters were next on the list - a result of their involvement with the big cross-border resources deals.

Thanks to an active market in this cross-border space, all three firms are up considerably - in terms of deal value - compared with last year. Mallesons' deal value for the first quarter of 2008, for example, was $US 5.5 billion - less than half of its total for Q1 this year. In total, announced deals for Q1 2009 total $US 26.5 billion, compared with $US 19.3 billion in 2008.

In terms of completed deals, Allens Arthur Robinson are sitting in the top spot, having advised on 11 completed deals worth $US2.4 billion. Freehills are in second spot, with 17 deals worth $US 2.3 billion, and Clayton Utz, Mallesons and Minter Ellison rank 3^rd, 4^th and 5^th.

In contrast to announced deals, completed deals for Q1 2009 are considerably down on last year. In total, there have been 81 completed deals worth $US 7.2 billion, compared with $US 30.6 billion for the same period last year.

- By Zoe Lyon

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