Manhattan leader Skadden Arps Slate Meagher & Flom has topped the US M&A rankings after acting on $540bn (£274bn) worth of deals in a blockbuster year for US deal lawyers.

The New York firm rose one place to take top spot after advising on 237 deals, according to figures from Mergermarket. Sullivan & Cromwell came second, acting on 136 deals worth a total of $504bn (£255bn).