Daily Newsletter

09 November 2023

Daily Newsletter

09 November 2023

Weil, Gotshal & Manges and Fasken Martineau DuMoulin lead legal advisers for Q1-Q3 2023 metals & mining M&A

Weil, Gotshal & Manges led by value after advising on $20.4bn of deals and Fasken Martineau DuMoulin led by volume with 18 deals.

Surya Akella November 08 2023

Weil, Gotshal & Manges and Fasken Martineau DuMoulin have occupied the leading positions as legal advisers by value and volume, respectively for mergers and acquisitions (M&A) in the metals & mining sector in the first three quarters (Q1-Q3) of 2023, revealed GlobalData’s latest league table.

According to the data and analytics company’s Financial Deals Database, Weil, Gotshal & Manges took the top spot, by value, after advising on $20.4bn of deals.

KWM Service Limited, which advised on deals valued at a total of $19.5bn, secured the second rank.

White & Case took the third position after advising on deals worth $19.3bn. It was followed by Herbert Smith Freehills and King & Wood Mallesons, each of which advised on deals worth $19.1bn.  

Fasken Martineau DuMoulin advised on 18 deals during Q1-Q3 of 2023 to top the list, by volume.

Cassels Brock & Blackwell was ranked second by advising on 12 deals, while Bennett Jones came third with seven deals.

It was followed by Blake Cassels & Graydon and Davis Polk & Wardwell, each advising on six deals.

GlobalData lead analyst Aurojyoti Bose said: “Fasken Martineau DuMoulin was the top adviser by volume in Q1-Q3 2022 and also managed to retain the top spot by this metric in Q1-Q3 2023 as well. Interestingly, it was among the only two advisers with double-digit deal volume during Q1-Q3 2023.

“Meanwhile, Weil, Gotshal & Manges witnessed a significant jump in its ranking by value during Q1-Q3 2023. In fact, it was the only adviser to surpass $20bn in total deal value during Q1-Q3 2023.”

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.

Neodymium is one of the fastest-growing product categories within the rare earth metals market

Within the rare earth metals market, cerium is projected to account for the largest volumetric share followed by lanthanum, neodymium, and others in 2023. The demand dynamics for neodymium is estimated to remain strong as the sales of electric vehicles continue to flourish across the globe. The product is deployed in the manufacturing of magnets including low and high performance and is an integral part of the modern-day technology assembly from automotive vehicles to fighter jets.

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