New York leader Skadden Arps Slate Meagher & Flom has topped the US M&A rankings for the third quarter of 2006, as Wall Street lawyers predict a record year for US M&A.

Following a blockbuster quarter that has seen both the biggest leveraged buy-out and the biggest management buy-out ever, Skadden has now advised on 170 deals totalling $425bn (£218bn) this year, edging ahead of Wall Street rival Sullivan & Cromwell, which bagged $411bn (£227bn) worth of deals, according to figures from Mergermarket.