Covers M&A advice on large deals worth EUR 500 million and up. Advice on medium-sized and smaller deals is dealt with in separate rankings.

Hengeler Mueller has an excellent reputation and is an established address for large German corporations such as Siemens, Lufthansa and Metro AG, which regularly instruct the team on M&A transactions. The team also handles carve-outs, auction proceedings, sales and financing rounds and demonstrates significant expertise in the regulated industries. Thomas Meurer is well versed in advising the seller in the auction context, while Maximilian Schiessl has longstanding experience in public takeovers. Andreas Hoger is a key contact for topics at the PE interface and Hans-Jörg Ziegenhain regularly advises listed companies, family businesses and private equity investors on corporate law and M&A.

Executive and supervisory boards as well as other executive bodies of DAX30-companies and leading international companies call upon Linklaters ' M&A expertise. The team specialises in cross-border large-cap transactions and regularly advises on strategic demergers, divestments and mergers. The close cooperation with the capital markets practice and the industry expertise in the automotive, chemicals, healthcare, industry, infrastructure and technology sectors are particularly noteworthy. Tim Johannsen-Roth heads the team, which includes co-head of the global M&A practice, Ralph Wollburg, as well as corporate law and M&A specialist Staffan Illert. Kristina Klaassen-Kaiser has expertise in cross-border mergers, acquisitions and joint ventures. Florian Harder left in early 2021, he now heads the M&A group at Shearman & Sterling LLP.

Gleiss Lutz's team demonstrates expertise in outbound M&A as well as carve-out transactions, with regular instructions from banks, corporations, family-run companies and their shareholders. Large-cap transactions are frequently handled in the technology, healthcare, real estate and infrastructure sectors as well as the private equity arena. The group, led by Ralf Morshäuser, is also experienced in distressed M&A matters. Other key contacts are healthcare and life sciences specialist Martin Viciano Gofferje and Christian Cascante who regularly assists with public takeovers.

In close cooperation with the corporate team, Sullivan & Cromwell LLP advises on all transactional matters in the course of the deal. In addition to private M&A deals, the team is particularly well versed in public takeovers for international corporations, DAX30 companies and financial investors from the upper market segment. The group is led by managing partner and capital markets law specialist Carsten Berrar, Konstantin Technau, who also handles regulatory aspects, as well as York Schnorbus.

Allen & Overy LLP advises German and international companies as well as investors and most recently was particularly active in the technology, online trading and healthcare sectors, in addition to the key areas finance and energy. The team, led by Nicolaus Ascherfeld, also has expertise in public takeovers and joint ventures. Helge Schäfer is an experienced contact for M&A and VC transactions, joint ventures, MBOs and international restructuring, while Hans Diekmann is well versed in both corporate and capital markets law. Counsel Jonas Wittgens is also active at the interface between capital markets and stock corporation law.

Baker McKenzie is regularly instructed by major German companies such as Bayer, Uniper and Metro AG on cross-border transactions. The team has particular expertise in transactional matters in the China context, where practice head Christian Atzler is a key contact. Clients can also draw on the interface expertise in foreign trade law as well as the sector know-how in healthcare, energy and telecoms. Peter Wand complements this with expertise in the automotive sector. Florian Kästle is a key contact for contentious matters. M&A and corporate law expert Ingo Strauss joined Latham & Watkins LLP in autumn 2020.

Cleary Gottlieb Steen & Hamilton advises on public and private M&A as well as going private transactions, delistings, PE and VC investments as well as spin-offs and demergers. The team is instructed by German and international companies and financial institutions, which also benefit from the team's tax and regulatory expertise. Key members include Michael Ulmer, who is well versed in shareholder activism, and Counsel Michael Brems, who also covers employment law aspects in the M&A context.

CMS has longstanding M&A experience, supporting transactions of all sizes. In the large-cap segment, the group is primarily active in the energy, telecoms and medtech sectors and advises on carve-outs, joint ventures, mergers, acquisitions and sales, with frequent cross-border issues pertaining to the US. Another core competence of the team, led by Antje Becker-Boley, Richard Mitterhuber and Jacob Siebert, are distressed M&A matters. Other key members are Maximilian Grub, key advisor to automotive, energy and private equity clients, and Hendrik Hirsch, who assists both sellers and buyers.

Gibson, Dunn & Crutcher LLP is instructed by industrial companies, strategic investors and private equity companies on M&A transactions. Clients particularly appreciate the team’s ‘distinct economic understanding‘ and the close cooperation with the firm’s international offices on cross-border issues, as well as the interdisciplinary cooperation on interfacing matters. Among the key members are Lutz Englisch, who has longstanding experience in private and public transactions, as well as Dirk Oberbracht and Wilhelm Reinhardt, who frequently assist private equity investors.