Clifford Chance (CC) has topped 2005′s global M&A table, pushing Wall Street heavyweight Sullivan & Cromwell into second place, as new figures show a 38.4% increase in the value of worldwide M&A last year.

The magic circle firm took pole position with 444 ranked deals worth $490.5bn (£284.8bn) in 2005, according to Thomson Financial’s tables, which saw them jump from third place in 2004.