Global M&A hit a three-year low in the first half of 2023, with $1.3 trillion in deals announced in the first six months of the year, a 37% decline year-over-year. The number of deals done, roughly 27,300 in total, saw a 9% decline year-over-year. 

But while the market overall is down, some Big Law firms, especially in New York, picked up market share and rise up the league tables released by Refinitiv.