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CAM, Vaish, AZB 'win' first round of Mergermarket Q1 M&A rankings

Cyril Amarchand Mangaldas (CAM) beat 2015’s top three firms, and flew past Shardul Amarchand Mangaldas as well, to lead Mergermarket’s M&A value rankings this quarter (Q1).

CAM was the third largest M&A dealmaker after AZB & Partners and Khaitan & Co, in the 2015 annual rankings. But at the end of Q1 even Vaish Associates, in rank two, is ahead of AZB and Khaitan.

CAM did seven deals worth $3.2bn while SAM did six deals worth $479m.

Vaish with two deals worth $2.46bn and AZB with 10 deals worth $2bn are the only other law firms to have crossed the billion dollar mark in the top 14 Indian firms ranked by value.

The preview rankings had only accounted for 20 of SAM’s M&A’s while CAM had docketed 30. CAM added three more deals to its count while SAM’s final deal count sits at 31.

Khaitan’s 15 deals were the most number of deals done by any Indian firm in Q1, however they were relatively small in size and aggregating to only $934m.

By Value

Rank House
Value (USD M) Number of Deals
1 Cyril Amarchand Mangaldas 3200 7
2 Vaish Associates 2460 2
3 AZB & Partners 2066 10
4 Khaitan & Co 934 15
5 IndusLaw  900 2
6 J Sagar Associates 846 3
7 Nishith Desai Associates 770 3
8 Shardul Amarchand Mangaldas & Co 479 6
9 Trilegal 388 5
10 Wadia Ghandy & Co 338 2
11 Tatva Legal 168 2
12 Verus Advocates 121 1
13 Economic Laws Practice (ELP) 117 3
14 Veritas Legal  85 4
Rank House
Value (USD M) Number of Deals
4 Latham & Watkins LLP 1280 1
5 Linklaters 1280 1
6 Weil Gotshal & Manges LLP 1100 2
7 Dechert LLP 948 2
10 Herbert Smith Freehills 900 1
13 Shearman & Sterling LLP 670 3
14 Allen & Overy LLP 484 2
16 Hughes Hubbard & Reed LLP 460 1
17 Kirkland & Ellis LLP 460 1
20 Clifford Chance LLP 306 2
22 O'Melveny & Myers LLP 150 1
23 Greenberg Traurig LLP 134 2
26 DLA Piper 111 2
28 Jones Day 66 1
29 Covington & Burling LLP 50 1
30 Gray Plant Mooty Inc. 50 1

By Volume

Rank House
Value (USD M) Number of Deals
1 Khaitan & Co 934 15
2 AZB & Partners 2066 10
3 Cyril Amarchand Mangaldas 3200 7
4 Shardul Amarchand Mangaldas & Co 479 6
5 Trilegal 388 5
6 Veritas Legal  85 4
7 J Sagar Associates 846 3
8 Nishith Desai Associates 770 3
10 Economic Laws Practice (ELP) 117 3
11 Vaish Associates 2460 2
14 IndusLaw  900 2
16 Wadia Ghandy & Co 338 2
18 Tatva Legal 168 2
21 BMR Legal 35 2
22 Bathiya Legal 0 2
29 Verus Advocates 121 1
Rank House
Value (USD M) Number of Deals
9 Shearman & Sterling LLP 670 3
12 Weil Gotshal & Manges LLP 1100 2
13 Dechert LLP 948 2
15 Allen & Overy LLP 484 2
17 Clifford Chance LLP 306 2
19 Greenberg Traurig LLP 134 2
20 DLA Piper 111 2
23 Latham & Watkins LLP 1280 1
24 Linklaters 1280 1
25 Herbert Smith Freehills 900 1
26 Hughes Hubbard & Reed LLP 460 1
27 Kirkland & Ellis LLP 460 1
28 O'Melveny & Myers LLP 150 1
30 Jones Day 66 1
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