Wachtell Unseated as Big Law’s Top Dealmaker by Simpson Thacher

Wachtell Lipton Rosen & Katz, a consistent leader among law firms handling M&A deals, has been dethroned by Simpson Thacher & Bartlett for the top spot in global transactions work for the first time this year.

Global mergers and acquisitions activity reached $3.8 trillion by the end of September, building on a potentially record-breaking year propelled by continued investor confidence and private equity deals. Twenty law firms have worked on more than $2.7 trillion worth of deals so far, according to Bloomberg’s M&A advisory league tables.

Law firm leaders and M&A partners said low interest rates, cash aggregated over the ...