ARLINGTON, Va., April 1, 2026 /PRNewswire/ -- Bloomberg Law published league tables for the first quarter of 2026, with Sullivan & Cromwell taking the top spot as Big Law's top mergers and acquisitions adviser.

Reflecting a record high in deal activity, global deal volume topped $1.2 trillion for completed or pending transactions in the first quarter, according to Bloomberg data, up nearly 42% from the same period in the previous year.

Wall Street's Sullivan & Cromwell ($442.5 billion) and Gibson Dunn & Crutcher ($329.9 billion) sit at the top of Bloomberg Law's league tables, thanks largely to a single deal: Musk's combination of SpaceX and xAI to form a $1.25 trillion entity. Both firms jumped perennial leaders—Latham & Watkins and Kirkland & Ellis—after landing outside of the top 10 dealmakers last year.

Bloomberg Law customers can see the complete list of top 20 firms and access the full report, please visit https://news.bloomberglaw.com/business-and-practice/sullivan-cromwell-snags-top-m-a-spot-in-rankings-shakeup.

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SOURCE Bloomberg Law