By the Numbers: 5 Biggest M&A Deals Aided Big Law in 2022
Summary
Elon Musk, Microsoft Corp. and Broadcom Inc. spurred work for Big Law merger and acquisition attorneys even as overall activity slumped to lows rivaling the pandemic’s early days. Dealmakers this year battled high inflation, Federal Reserve rate hiking and recession fears, along with global instability from the war in Ukraine. Activision was represented by Skadden, while Microsoft turned to Osler Hoskin & Harcourt, Sidley Austin, Simpson Thacher & Bartlett, and Weil Gotshal & Manges. The gamers asked the court to prohibit the merger, which they allege would give Microsoft power over the gaming industry to “foreclose rivals” and “further inhibit competition.” Semiconductor maker Broadcom in May agreed to purchase cloud-computing company VMware for roughly $61 billion in what would be one of the largest technology deals in history. The combined grocery giant would have more than 5,000 stores and 700,000 workers and annual revenue of $200 billion—enough to become a closer second to Walmart Inc. Six law firms advised Albertsons on the deal, including Alston & Bird, Debevoise, Dechert, Jenner & Block, Wachtell and White & Case.