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Follow on Google News | The American Lawyer’s “Corporate Scorecard” Ranks Firms, Anoints 2010 Dealmakers of the YearThe American Lawyer published its Corporate Scorecard, identifying 2010’s leading law firms in nine transactional practice areas and naming the Dealmakers of the Year who helped corporations navigate the economy’s turnaround.
By: ALM's The American Lawyer Initial public offerings led a broad recovery that stretched to every category but bankruptcy. Davis Polk topped the U.S. league table for advising underwriters by working on 14 IPOs, with total proceeds of $10.8 billion. Jenner & Block and Osler, Hoskin & Harcourt tied for the U.S. issuer’s counsel lead at $9.1 billion each. In representations of IPOs by foreign companies, Simpson Thacher was number one among underwriter’ “A key reason for IPO growth was the record number of China-based company IPOs debuting on U.S. markets,” noted American Lawyer reporter Drew Combs. Highlights in other areas ranked in the Corporate Scorecard include: Mergers and Acquisitions: Private Equity: With private equity-backed M&A more than doubling last year, Simpson Thacher swept the league tables in number and value of deals, advising principals in 23 transactions worth $29.3 billion. Corporate Debt: As high-yield debt offerings soared last year, propelled by a perfect storm of low interest rates and maturing debt, Simpson Thacher was there to represent issuer’s counsel a leading 45 times. Cahill topped manager’s counsel with 190 issues. Investment-grade offerings were also up, though more modestly; Davis Polk’s 84 issues earned the number-one spot among issuer’s counsel, while Sidley Austin took the honors as manager’s counsel with 115. Municipal Bonds: In a record year for public finance, Fulbright & Jaworski represented underwriter’ Securitizations: Project Finance: After a dip in 2009, project financings turned in their best year ever in 2010. Luthra & Luthra was number-one in value of deals handled at $23.3 billion. Leading in the number of financings was Allen & Overy with 61. REITs: The real estate investment trust sector jolted back to life in 2010. Among REIT equity issues, Venable led issuer’s counsel with 21 and Sidley Austin manager’s counsel with 20. On the debt side, Latham & Watkins was first with 11 issues on behalf of issuer’s counsel; Sidley Austin led manager’s counsel with 12. Bankruptcy: In a shrinking bankruptcy pool -- the number of filings dropped by half in 2010 – Kirkland & Ellis led on the debtor side with three filings in the top 20 by prepetition assets, while Morrison & Foerster was number-one for creditors, being tapped by three committees. The Corporate Scorecard analyses are based on data supplied by Thomson Financial on equity and debt offerings, mergermarket on M&A, Dealogic on project finance, and BankruptcyData.com on bankruptcy. In “Dealmakers of the Year,” The American Lawyer spotlights individuals, many whom are recognized for facilitating the repairs, relaunches and in some cases downsizings of corporate players retooling for recovery. The 2010 Dealmakers of the Year are: Jenner & Block’s Joseph Gromacki for General Motors Corporation’ ALM, an integrated media company, is a leading provider of specialized business news, research and information, focused primarily on the legal and commercial real estate sectors. ALM’s market-leading brands include The American Lawyer, Corporate Counsel, GlobeSt.com, Insight Conferences, Law.com, Law Journal Press, LegalTech, The National Law Journal and Real Estate Forum. Headquartered in New York City, ALM was formed in 1997. For more information, visit www.alm.com. ALM, The American Lawyer, Corporate Counsel, GlobeSt.com, Insight Conferences, Law.com, Law Journal Press, Law Technology News, LegalTech, The National Law Journal and Real Estate Forum are trademarks or registered trademarks of ALM Media Properties, LLC. MEDIA CONTACTS: Fred Rackmil Rackmil Associates 212.421.0044 or fred@rackmil.com Daryn Teague Teague Communications 661.297.5292 or dteague@teaguecommunications.com End
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