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Cravath, Kirkland, Other Titans Have Another Huge Year (Podcast)

Jan. 11, 2022, 9:00 PM

It was an extraordinarily lucrative year for law firms that help companies go public, or that help companies make acquisitions. Thanks to the frenzied SPAC boom, along with rock bottom interest rates, corporate transaction activity in 2021 shattered records.

However, the largest beneficiaries of this activity were not upstart, boutique firms but rather the titans of the legal world: Kirkland & Ellis, Davis Polk & Wardwell, Wachtell Lipton Rosen & Katz, Ropes & Gray, and so on.

On today’s episode of On The Merits, our weekly legal news podcast, we hear from Bloomberg Law’s Roy Strom and Ruiqi Chen about why the rich seem to only get richer in the Big Law world. They also get into the reasons why 2022 could be a far less active year for M&A and IPO business.

Listen and subscribe to On The Merits on Apple Podcasts, Google Podcasts, Audible, or Spotify.

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To contact the reporter on this story: David Schultz in Washington at

To contact the editors responsible for this story: Cheryl Saenz at