Sullivan & Cromwell continued its reign at the top of the league tables, with the law firm topping the charts for deal value in the first half of last year, similar to last year, according to Refinitiv global M&A deal advisers data released Tuesday. Meanwhile, Goodwin Procter led all law firms in the number of deals in the first two quarters of the year.

Overall, the M&A market, less grim than expected, was down 21% year-over-year for deal value and 17% for deal volume compared to 2021. It was the slowest opening six months in two years, but both Q1 and Q2 still managed to pass the $1 trillion mark, marking the seventh and eighth consecutive quarters that this occurred.