Paul, Weiss, Rifkind, Wharton & Garrison has ranked first by deal value and CMS by deal volume among legal advisers for mergers and acquisitions (M&A) in the construction sector during the first three quarters of 2025, according to research from GlobalData.
The analysis, based on GlobalData’s Financial Deals Database, shows Paul, Weiss, Rifkind, Wharton & Garrison advised on transactions totalling $19.9bn.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
CMS led by the number of deals, providing services on 22 transactions.
GlobalData lead analyst Aurojyoti Bose said: “Paul, Weiss, Rifkind, Wharton & Garrison was the top adviser by value during Q1-Q3 2024 and retained its leadership position by this metric during Q1-Q3 2025.
“Interestingly, the total value of deals advised by it mostly remained at the same level during Q1-Q3 2025 compared to Q1-Q3 2024. Apart from leading by value, the American multinational white-shoe law firm also occupied the sixth position by volume during Q1-Q3 2025.
“Meanwhile, CMS’ ranking by volume improved from the second position to the top position despite registering a year-on-year decline in the total number of deals advised by it.”
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataWachtell, Lipton, Rosen & Katz secured the second spot in terms of deal value, advising on $19.8bn worth of transactions.
White & Case followed with $18.7bn, Skadden, Arps, Slate, Meagher & Flom with $18.5bn and Simpson Thacher & Bartlett with $16.2bn in advised deal value for the same period.
In terms of volume, Kirkland & Ellis came in second with 20 deals, followed by Baker McKenzie with 19 deals.
White & Case and Latham & Watkins each advised on 13 deals.
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.
