Allen & Overy (A&O) has emerged as the surprise leader in the European M&A rankings, topping Mergermarket’s table of announced deals for the first quarter of 2003. The figures show the magic circle firm advising on 45 announced deals so far this year with a value of £30.6bn, more than a fifth higher than second place rival Clifford Chance. (10 April)

Tax row stalls magic circle LLP move