Davis Polk Ranked Number 1 for 1st Quarter 2015 in M&A
Coming in second was Skadden Arps Slate Meagher & Flom, at 19.5 percent, bumped from last year’s number one spot; and coming in third place was Sullivan & Cromwell, with about 19 percent of the market share.
Speaking of this year’s vitality, Gar Bason, chairman of Davis Polk’s M&A practice, said “We are a service firm, and when our clients are busy, we are busy,” nothing revelatory here, adding also, “We are delighted when the cycle is vibrant,” an obvious remark as well.
Bason claims this vitality is due to increased confidence of corporate boards in the economy, not that they are simply trying to keep up with their competition. “It’s less of, ‘They are doing it, so I have to,’” he said, “It’s more, ‘Here is someone who also thinks the economy is [improving].’”
The biggest customer they’ve seen this year includes the highest value deal of $55 billion in the merger of Kraft Foods Group, Inc. with H.J. Heinz Company to create The Kraft Heinz Company.