Takeover deals yield £80m in fees for UK legal firms
12th September 2012
Research has revealed that, thanks to the roles they have played in helping to complete company takeovers, private practices working in the UK legal industry have earned £80 million in transaction fees over the last year, with the value of individual deals working out at an average of around £1.6 million.
The reason that this striking figure has been made available for the first time is because a law came into effect recently which orders the disclosure of payment details for all merger and acquisition deals.
Although the statistics are impressive, it should also be noted that a large proportion of the total revenues were made up of a small selection of hugely significant transactions, such as Glencore International’s merger with Xstrata, which was estimated to have created fees of almost £25 million on its own.
These results are sure to be hailed as a success by those holding solicitor jobs within the corporate sector, and this will be accompanied by hopes that the economy will start to improve shortly, so that even more such high-profile takeovers and mergers can take place in the coming months and years.