Law firms feasted on a near record year for mergers and acquisitions in 2025, including the most-ever transactions worth $10 billion or more, according to data released this week by the London Stock Exchange Group.
Four law firms — Kirkland, Latham, Wachtell and Skadden — each served as principal adviser on $600 billion worth of deals or more in 2025, breaking away from the other firms in LSEG's top 20, while Goodwin Procter took the No. 1 principal adviser spot by number of deals.
David Thomas has more on the 2026 M&A outlook.