GlobalData has announced the latest Financial and Legal Adviser League Tables, which rank advisers according to the total value and volume of merger and acquisition (M&A) deals they advised on in the retail sector during the first three quarters of 2026.
Financial Advisers
Morgan Stanley and Diligent Capital are the leading M&A financial advisers in the retail sector for Q1–Q3 2026
Morgan Stanley and Diligent Capital were the leading mergers and acquisitions (M&A) financial advisers in the retail sector during the first three quarters (Q1–Q3) of 2026 in terms of value and volume, respectively, according to the latest financial advisers league table published by GlobalData, a leading intelligence and productivity platform.
An analysis of GlobalData’s Deals Database reveals that Morgan Stanley took the lead in terms of value, having advised on deals worth $11.8 billion. Meanwhile, Diligent Capital led in terms of volume, having advised on a total of nine deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Despite recording a year-on-year decline in the total value of deals it advised on, Morgan Stanley emerged as the clear winner by value, outpacing its peers by a significant margin. It was the only adviser to exceed the $10 billion mark in total deal value during Q1–Q3 2026. Its involvement in a deal valued at around $9 billion for Circle K Polska’s acquisition of the Zabka Group was pivotal in securing Morgan Stanley a commanding lead in terms of value.
“Meanwhile, Diligent Capital held the top spot in terms of volume but faced stiff competition from Performance Brokerage Services.”
Evercore ranked second in terms of value, having advised on deals worth $3.3 billion, followed by Wells Fargo with $3.2 billion, Daiwa Securities Group with $2.2 billion, and JPMorgan with $2 billion.
Meanwhile, Performance Brokerage Services ranked second in terms of volume with nine deals, followed by Clearwater with six deals, Morgan Stanley with five deals, and Rothschild & Co with five deals.
Legal Advisers
White & Case and Baker McKenzie are the leading M&A legal advisers in the retail sector for Q1–Q3 2026
White & Case and Baker McKenzie were the leading legal advisers on mergers and acquisitions (M&A) in the retail sector during the first three quarters (Q1–Q3) of 2026 in terms of value and volume, respectively, according to the latest league table of legal advisers published by GlobalData, a leading intelligence and productivity platform.
An analysis of GlobalData’s Deals Database reveals that White & Case took the top spot in terms of value, having advised on deals worth $9.9 billion. Meanwhile, Baker McKenzie led in terms of volume, having advised on a total of 11 deals.
Aurojyoti Bose, Lead Analyst at GlobalData, comments: “Baker McKenzie was the only adviser to achieve a double-digit deal volume during Q1–Q3 2026. It recorded significant growth in the number of deals it advised on, which helped its ranking by volume rise from 28th place during Q1–Q3 2025 to the top spot during Q1–Q3 2026.”
“Similarly, White & Case saw its ranking by value rise from 15th to the top position. The total value of deals advised by White & Case more than doubled, driven primarily by its involvement in a deal valued at around $9 billion relating to Circle K Polska’s acquisition of the Zabka Group.”
Alston & Bird ranked second in terms of value, having advised on deals worth $2.7 billion, followed by Simpson Thacher & Bartlett with $2.6 billion, Anderson Mori & Tomotsune with $2.4 billion, and A&O Shearman with $2.2 billion.
Meanwhile, White & Case ranked second in terms of volume with nine deals, followed by A&O Shearman with eight deals, Mayer Brown with seven deals, and Latham & Watkins with seven deals.
