McCarthy Tetrault emerged as the leading legal adviser in the metals and mining sector for mergers and acquisitions (M&A) in 2024 by value, while Cassels Brock & Blackwell topped the list by volume, according to GlobalData, a data and analytics company.

Analysis of GlobalData’s deals database shows that McCarthy Tetrault secured the top position in the value table by advising on $14.1bn (£11.46bn) worth of deals.

GlobalData lead analyst Aurojyoti Bose said: “Cassels Brock & Blackwell, which was the third leading adviser by volume in 2023, occupied the top spot by this metric in 2024.  Notably, the rankings for the top three advisers by volume in 2023 were reversed in 2024. In addition to leading by volume, Cassels Brock & Blackwell also secured the ninth spot by value for the year.

“Meanwhile, McCarthy Tetrault, which led by value in 2023, successfully retained its top position in 2024. The firm also secured third place in terms of volume for the year.”

Davis Polk & Wardwell ranked second in terms of value, advising on $12.3bn worth of deals, followed by Gibson, Dunn & Crutcher with $10.9bn, Paul, Weiss, Rifkind, Wharton & Garrison at $9.9bn, and Cravath Swaine & Moore with $9bn.

In terms of volume, Fasken Martineau DuMoulin held the second spot with 23 deals, followed by McCarthy Tetrault with 20 deals, Blake Cassels & Graydon with 19 deals and Bennett Jones with 13 deals.

GlobalData’s league tables are based on the real-time tracking of thousands of company websites, advisory firm websites and other reliable sources available on the secondary domain. A dedicated team of analysts monitors all these sources to gather in-depth details for each deal, including adviser names.

 To ensure further robustness to the data, the company also seeks submissions of deals from leading advisers.