Top Merger & Acquisition (M&A) Lawyers & Law Firms

In the world of business deals, mergers and acquisitions are big game-changers. They can completely transform companies. But these deals are complex, and you need expert legal help to navigate them.

That's where our list of the top 15 M&A lawyers comes in.

We're highlighting the best legal teams who are really good at making mergers and acquisitions happen smoothly. These professionals aren't just lawyers; they're experts in getting deals done right.

Let's dive in.

TL;DR: Top Merger & Acquisition Lawyers and Law Firms

Alpha Apex Group: Alpha Apex Group excels in M&A consulting, collaborating with top lawyers to guide businesses through the entire transaction process, optimizing value and managing risks effectively.
Wachtell, Lipton, Rosen & Katz: Founded in 1965, this firm is renowned for its expertise in mergers and acquisitions, corporate law, and securities. They handle complex transactions both domestically and internationally.
Edwin Coe LLP: With a focus on practical experience and technical skills, this firm specializes in managing all aspects of M&A transactions, including cross-border deals and joint ventures.
Lander & Rogers: A trusted independent Australian law firm, Lander & Rogers has extensive experience in domestic and international M&A. They simplify complex issues and provide holistic advice.
NJORD Law Firm: Known for efficient and competent legal advice, NJORD's M&A lawyers represent buyers and sellers across various sectors and offer "outside-the-box" solutions.
Appleby: A full-service law firm with expertise in corporate, regulatory, and property matters, Appleby's M&A lawyers handle a wide range of transactions, including those in regulated sectors.

Benefits of Hiring M&A Lawyers and Law Firms

Hiring merger and acquisition lawyers and law firms has numerous advantages.

Imagine a scenario of a hostile takeover.

You need expert professionals with deep experience and understanding to solve this issue. That's also valid for all transactional matters you may face.

You need financial advisors who can tackle corporate matters, ensuring all legal requirements and regulations are met.

More importantly, these experts can mitigate potential risks and legal complications.

Insider tip: Ensure your M&A lawyers understand your sector.

A multinational corporation dealing with a complex merger of equals differs from a small business in the life-sciences sector.

Each niche has its own requirements in terms of due diligence.

And you need experts who can thoroughly assess the financial, operational, and legal aspects of key clients.

You need all that for informed decision-making.

Plus, mergers and acquisitions lawyers have invaluable negotiation skills in a range of sectors.

Corporate lawyers also offer strategic guidance throughout the entire process, from deal structuring to post-transaction integration.

That's how you can secure favorable terms in strategic transactions and equity financings.

A Deep Dive into Top Merger & Acquisition Lawyers and Law Firm

Alpha Apex Group

**Alpha Apex Group**, Leaders in Merger & Acquisition Legal Support.

Alpha Apex Group stands as a beacon of strategic guidance and expertise in the complex arena of mergers and acquisitions (M&A), providing invaluable support to clients navigating the intricacies of M&A transactions. While not a law firm, Alpha Apex Group collaborates closely with leading M&A lawyers and law firms to ensure that clients receive comprehensive, multidisciplinary advice that covers every aspect of their transactions. Their focus on due diligence, strategic planning, and post-merger integration enables businesses to maximize value, mitigate risks, and ensure a smooth transition during mergers and acquisitions. By leveraging their extensive network and deep understanding of global markets, Alpha Apex Group plays a crucial role in facilitating successful M&A deals.

Key Services:

M&A strategy development and execution
Due diligence coordination and support
Valuation and financial modeling
Deal structuring and negotiation support
Post-merger integration planning and execution
Risk management and compliance advisory

Why work with Alpha Apex Group:

Engaging Alpha Apex Group for M&A consulting services ensures that businesses benefit from a holistic and strategic approach to mergers and acquisitions. Their expertise in orchestrating complex transactions, combined with their ability to seamlessly integrate with legal teams, positions clients for success in their M&A endeavors. Alpha Apex Group's commitment to excellence and strategic foresight makes them an indispensable ally for companies looking to navigate the challenging and rewarding world of M&A.

Contact Alpha Apex Group

2. Wachtell, Lipton, Rosen & Katz

Wachtell, Lipton, Rosen & Katz, established in 1965, stands out for its innovative and influential solutions in business and law.

The firm excels in teamwork.

And they're experts in different areas like corporate transactions, strategic investments, and governance.

In fact, they've built a reputation for managing highly complex and challenging transactions worldwide. That's why numerous public and private companies in a range of industries chose this company.

Whether you're doing an international deal in the retail sector or a local transaction in the energy sector, this firm will help you with expert advice.

Expertise: Corporate, Litigation, Antitrust, Executive Compensation & Benefits, Intellectual Property, Real Estate M&A, Restructuring & Finance, Tax

Key services:

U.S., Cross-Border, and International Mergers and Acquisitions
Private Equity and Strategic Investments
Spin-offs and Split-ups
Securities Offerings and Other Capital-Raising Transactions

Reason to work with Wachtell, Lipton, Rosen & Katz: Choose them for their groundbreaking solutions and innovations. Their track record shows they've handled some of the largest and most demanding transactions worldwide.

3. Edwin Coe LLP

Edwin Coe LLP is a dedicated mergers and acquisitions team.

They deliver value to clients in two ways:

They leverage their practical experience and offer effective, no-nonsense responses.

Plus, they can manage all aspects of transactions, from planning to due diligence, documentation, and negotiation.

Yes, they have the experience to be your corporate partner.

The firm is well-versed in dealing with complex cross-border transactions and often collaborates with firms in other jurisdictions.

Their expertise extends to a wide range of sectors, from private equity investments in Asia to clean energy deals in the United States.

Expertise: Banking & Finance, Brexit Hub, Capital Markets, Class Action Litigation, Compliance & Regulatory Enforcement, Construction, Corporate, Employment, Immigration, Information Technology, Insurance Litigation, Intellectual Property, International, Litigation & Dispute Resolution, Philanthropy, Private Client, Property, Property Litigation, Restructuring & Insolvency, Start-up, Tax, Trusts

Notable clients: Churchgate Estates Limited, Crimson Dorset Limited, United Technologies Corporation, SFS Fire Services Limited, Adviser Plus Business Solutions Limited, AIM listed Stratex International plc, Noble Automotive Limited

Key services:

Mergers and Acquisitions
Group Reorganisation and Share Capital Reconstructions
Joint Ventures
Private Equity Transactions

Reason to work with Edwin Coe LLP: Their practical experience is priceless in managing all aspects of transactions, especially because they can simplify complex issues.

4. Lander & Rogers

Established in 1946, Lander & Rogers is a trusted independent Australian law firm with over 77 years of experience.

Their M&A lawyers specialize in domestic and international transactions in a wide array of sectors.

They also have expertise in various areas relevant to strategic transactions.

You can ask their advice regarding competition, employment, real estate, and even IP.

Insider tip: Lander & Rogers use leading technology. That's how they can streamline collaboration with clients and work towards your business goals faster..

Expertise: Blockchain And Digital Assets, Business Transformation, Compensation Law, Construction And Engineering, Consulting, Defamation And Protection Of Reputation, Disputes And Litigation, Employment And Workplace, Environment, Social And Governance, Family And Relationship Law, Finance And Capital Structuring, Insolvency And Restructuring, Insurance, Intellectual Property, International Mergers And Acquisitions, Pro Bono, Real Estate And Projects, Regulatory And Compliance, Sport And Leisure, Startups And Scaleups, Technology And Digital

Notable clients: TAOGLAS, Uniti Group, Gallagher, Autofutura, Readcloud, LANCEMORE E.1986, RAGT Semences, Polar Capital, BCA Logic, AroFlo, Quadient, Service Line Solutions

Key services:

Mergers and Acquisitions
Acquisitions and Divestments
Transaction Management and Completion
Facilitating Digital Document Management and Due Diligence Solutions

Reason to work with Lander & Rogers: Partner with them for their decades of experience in domestic and international transactions.

5. NJORD Law Firm

NJORD Law Firm's M&A lawyers are globally recognized for their extensive experience.

In fact, they've been advising clients from diverse business sectors on all aspects of mergers and acquisitions.

Here's their unique value proposition:

They excel in understanding each client's unique business requirements and industry-specific challenges.

As such, they can offer efficient and 'outside-the-box' solutions, whether you're dealing with proxy contests or corporate governance issues.

Plus, they negotiate and draft some of the best M&A documents.

Expertise: Banking and Finance, Blockchain, Cryptocurrency and Fintech, Building and Construction, Capital Markets, Commercial Agents and Distributors, Commercial Lease Law, Corporate Law, Criminal Law, Data Protection, Debt Collection, Digitization and IT, Employment and Labour Law, Energy, Environment and Cleantech, EU and Competition Law, Financing and leasing, Foundations and Charity Law, Franchising and Distribution, Gambling Licenses, Immigration, Insolvency and Restructuring, Insurance and Reinsurance, Intellectual Property, Life Sciences and HealthTech, Maritime and Transport Law, Media, Sports and Entertainment, Medicinal Cannabis, Mergers and Acquisitions, NewTech, Private Equity, Probate and Private Law, Procurement Law, Protection of film rights, Public Authorities, Real Estate and Construction Law, Residential Rental, Tax

Key services:

Mergers and Acquisitions
International Legal Services
Litigations

Reason to work with NJORD Law Firm: Work with them for their efficient and competent legal advice and 'outside-the-box' approach to mergers and acquisitions.

6. Appleby

Appleby is a full-service law firm.

Their legal advice and services extend across various practice areas.

From corporate matters to dispute resolution, property, regulatory, and private clients and trusts - these are some of the best lawyers you can have.

You'll get practical solutions tailored to your needs.

Insider tip: Their lawyers can handle a wide range of transactional matters, from single-jurisdiction deals to complex multi-jurisdictional transactions in regulated sectors.

They are experienced in public transactions, including friendly and hostile deals, and frequently work on public-to-corporate transactions.

Not to mention, Appleby's corporate teams have extensive experience in special purpose acquisition company (SPAC) and de-SPAC transactions, as well as working with international law firms in a broader advisory network.

Expertise: Banking & Asset Finance, Corporate Finance, Derivatives, Fund Finance, Fund Governance, Funds & Investment Services, Insurance & Reinsurance, Intellectual Property, Islamic Finance, Listing Services, Real Estate Finance, Structured Finance, Technology & Innovation, Commercial Property, High Value Residential Property, Residential Property

Key services:

Mergers & Acquisitions (M&A)
Arbitration & Alternative Dispute Resolution
Employment & Immigration
Insolvency & Restructuring
Merger Disputes
Trust Disputes

Reason to work with Appleby: Select them for their expertise in handling a broad range of transactional matters across multiple sectors and jurisdictions.

7. Milbank

Milbank, a well-established law firm, has consistently delivered exceptional client results since its founding in 1866.

During this time, Milbank has built a solid reputation in handling public and private M&A.

They've had clients from various industries, including power, energy, infrastructure, hospitality, and technology.

That's how they've accumulated a wealth of experience.

Their legal advisors have industry-based expertise, as well as comprehensive domestic and cross-border transaction experience.

And you can leverage all that.

Their counsel covers everything from large public mergers and hostile transactions to complex, multi-jurisdictional M&A deals. Milbank has also received recognition for its exceptional performance in mid-market M&A transactions.

Expertise: Power, Energy, Infrastructure, Aviation, Space and Satellite, Hospitality, Gaming and Entertainment, Consumer Products, Retail and Technology

Key services:

Mergers and Acquisitions
Distressed M&A Environmental ESG & Sustainability
Executive Compensation and Employee Benefits
Outsourcing

Reason to work with Milbank: Collaborate with their legal advisors for their industry-based understanding and comprehensive experience in public and private M&A transactions, including complex cross-border deals.

8. Burges Salmon

Burges Salmon is a prominent law firm with extensive experience in a wide array of legal issues on M&A transactions.

They cater to public and private corporate clients, institutional investors, and private individuals. They're even known to assist private equity funds.

And they're international.

Even better, the firm employs a collaborative approach.

That means they draw on sector specialists within their organization to deliver expert advice.

That's how Burges Salmon has consistently received high rankings for their M&A work, helping their clients reach their commercial objectives.

Expertise: Banking and Finance, Commercial, Corporate, Dispute Resolution, Employment, Private Client Services, Projects, Real Estate Services, Specialist Expertise, Crime and Regulatory, Investigations, Competition, Construction and Engineering, Corporate Restructuring and Insolvency, Defence, Education, Environment, Social and Governance (ESG), Financial Services Regulation, Food and Farming, Health and Safety, Healthcare, Hotels, Leisure and Tourism, Insurance, Intellectual Property and Media, International Trade, Pensions, Planning and Compulsory, Purchase, Procurement and Subsidy Control, Retail, Sport, Tax, Technology, Energy and Utilities, Financial Services, Infrastructure, Private Wealth, Public Sector, Transport

Notable clients: Saltus Partners, Michelmersh Brick Holdings plc, Gresham House, ATA, Trivela Group, Octopus Investments, Blink, Trunki, The Safeguarding Company, Regency Purchasing Group, Foodbuy, ENGIE, Bluefield Solar Income Fund, Inverleith, LLP

Key services:

Private Company Acquisitions and Disposals (shares ad assets).
Public Company Takeovers (including Public To Private Transactions).
Business Transactions and Mergers.
Complex Restructurings and Reorganisations.
Equity Investments

Reason to work with Burges Salmon: Engage with them for their considerable experience and collaborative approach with sector specialists.

9. Blake Morgan

Blake Morgan, an expert corporate and M&A law firm, boasts a team of award-winning lawyers.

These legal advisors specialize in mergers, acquisitions, disposals, joint ventures, and private equity transactions.

In fact, their attorneys are recognized as leaders in the field.

Their multidisciplinary approach, combined with a deep understanding of the intricacies of M&A, makes them a trusted choice for companies of various sizes and industries.

And with a nationwide network of offices, they can help you with both domestic and cross-border M&A activities.

Expertise: Banking & Finance, Charities, Commercial, Debt & Asset Recoveries, Construction & Development, Corporate & Commercial, Education, Employment, Pensions & Immigration, Government, Healthcare, Infrastructure, Insolvency, Litigation & Dispute Resolution, Manufacturing, Notarial Services for Business, Real Estate & Property, Regulatory, Disciplinary & Compliance, Social Housing, Technology, Travel, Family Businesses, Families, Notarial Services, Private Client, Residential Property, Resolving Disputes, Travel Accidents

Key services:

Private Company Acquisitions And Disposals
Business Transfers
Reorganisations and Mergers
Joint Ventures
Due Diligence
International Transactions

Reason to work with Blake Morgan: Trust them for their award-winning team of lawyers specializing in mergers and acquisitions.

10. K&L Gates

K&L Gates is a global law firm known for its extensive experience in mergers and acquisitions (M&A) transactions.

Their unique value point is having a client-focused approach.

This means you get a valuable financial partner who wants to build strong relationships and understand your pain points.

That's how K&L Gates will tailor their legal advice to align with your strategies and risk tolerance.

As a result, their massive team of over 400 lawyers is recognized as a go-to firm for international and domestic M&A deals.

Plus, K&L Gates offers seamless integration of specialists and regulatory professionals across geographies.

Expertise: Consumer Products, Energy, Financial Services, Health Care Sector, Life Sciences, Manufacturing, Technology, Transportation and Logistics, Real Estate

Key services:

Mergers and Acquisitions
Antitrust, Competition, and Trade Regulation
Employment Issues in Business Transactions

Reason to work with K&L Gates: Rely on them for their pragmatic legal advice, industry-specific knowledge, and interest in your core business goals.

11. JMBM

JMBM is a recognized leader in the M&A practice area.

They offer legal counsel to buyers and sellers in a wide range of mergers, acquisitions, and divestitures.

Besides, JMBM's experienced lawyers will assist you throughout the entire deal process, from structuring and negotiation to documentation and closing.

But JMBM's unique value point is handling complex transactions.

They also specialize in working with emerging companies, venture-backed entities, and private equity-owned firms.

You'll also appreciate their deep nationwide network and extensive experience in middle-market M&A deals.

Expertise: ADA Compliance and Defense, Antitrust, Appellate, Art, Wine, Automobiles & Collectible Assets, Artificial, Intelligence, Bankruptcy, Broker-Dealer/Investment Management, Cannabis Practice Group, Chinese Investment, Class Action Defense, Commercial Lease Litigation, Corporate, Creditors' Rights, Cybersecurity and Privacy, Discovery Technology, Distressed Assets & Real Estate, Eminent Domain and Condemnation Law, Entertainment, Environmental, Equipment Lease and Finance, Family Office, Global Hospitality Group®, Government, Health Care, Insurance Counseling & Recovery, Intellectual Property, International, International Tax, Investment Capital Law, Labor & Employment, Land Use, Litigation, Luxury Home, Mergers & Acquisitions, Motor Vehicle, Natural Resources & Mining, Opportunity Zone Group, Patent Litigation, Patent Prosecution and Transaction, Prevailing Wage Compliance, and Defense, Professional Liability Defense, Project Finance, PTAB Trial Group, Real Estate, Real Estate Litigation, Regulatory and Enforcement, Renewable Energy/Climate Change, Secured Lender Defense, Securities, Sports, Taxation, Trusts & Estates, Trust & Estate Litigation, White Collar Defense & Investigations

Key services:

Mergers & Acquisitions
Asset Sales and Purchases
Equity Sales and Purchases
Stock Sales and Purchases

Reason to work with JMBM: Consider them for their extensive experience and ability to handle complex securities and corporate finance issues.

12. DELSOL Avocats

DELSOL Avocats is an entrepreneurial law firm dedicated to assisting entrepreneurs and businesses in a wide range of legal matters.

DELSOL strives to understand the distinctive economic and cultural aspects of their clients.

That means you get tailored business strategies that go beyond legal advice.

DELSOL is best for cross-practice and sector-specific expertise.

Insider tip: The company has a dedicated Mergers & Acquisitions - Corporate department that'll guide you through various stages of your development, from everyday issues to exceptional situations.

Expertise: Non-profit organizations - Social and Solidarity-Based Entrepreneurship, Employment Law - Social welfare Law, Wealth Law & Taxation, Corporate Taxation, Financing, Distressed Companies - Restructuring, Business Litigation, Real Estate, Public Law, Life Sciences, Personal Data, Intellectual Property - Information Technologies, Service Offers

Notable clients: Asics, Primonial, Dentsu, Fleaty, Devoteam, Maxi Toys, Cybergun, TokTokDoc, Nova Stream, Nielsen IQ, travelwifi

Key services:

Mergers & Acquisitions - Corporate Law
Conflict Management
Reorganization

Reason to work with DELSOL Avocats: Partner with them for their tailored assistance at every stage of development and their ability to provide a global, technical, and strategic vision.

13. Smith Anderson

Smith Anderson, a leading corporate law firm in North Carolina, is known for its deep roster of experienced mergers and acquisitions (M&A) lawyers.

Approximately half of their team members have gained valuable experience from national and international firms.

Beyond their technical expertise in executing deals, they bring informed judgment, strategic insight, and innovation to the table.

That's how they negotiate solutions that align with practical business sense.

The firm's attorneys can handle private and public acquisitions, divestitures, joint ventures, and strategic alliances.

Plus, their client base ranges from start-ups to large corporations, which means they can also meet your brand's need for legal support.

Expertise: AgTech, Banking & Financial Institutions, Energy, Health Care, Life Sciences, Manufacturing, Nonprofits, Private Equity, Real Estate & Construction, Retail & Hospitality, Software, Data + Analytics

Key services:

Mergers and Acquisitions
Product-line Acquisitions and Divestitures
Distressed Mergers and Acquisitions
Leveraged Buy-outs
Going-private Transactions
Joint Ventures
Strategic Alliances

Reason to work with Smith Anderson: Choose them for their deep roster of experienced mergers and acquisitions (M&A) lawyers and ability to handle different transactional matters.

14. White & Case

White & Case is a global law firm renowned for its acquisitions, disposals, and joint venture expertise.

They have a long history of successfully advising corporations, financial institutions, and private equity firms on a broad range of M&A transactions.

Their best feature is that they can deliver pragmatic legal advice for deals of varying sizes.

White & Case will spare no effort to understand your industry-specific needs and business goals.

And that's how they'll help you execute transactions precisely and efficiently.

Plus, they have a global reach, handling both international and domestic M&A support.

Expertise: Consumer & Retail, Energy, Financial Institutions, Fintech, Infrastructure, Manufacturing & Industrial, Mining & Metals, Pharmaceuticals & Healthcare, Private Equity Funds, Real Estate, Sovereigns, Technology, Practices, Antitrust/Competition, Asset Finance, Business & Human Rights, Capital Markets, Commercial Litigation, Construction, Data, Privacy & Cybersecurity, Debt Finance, Derivatives, Employment, Compensation & Benefits, Energy Transition, Environment & Climate Change, ESG and Sustainability, Financial Services Regulatory, Foreign Direct Investment (FDI) Reviews, Intellectual Property, International Arbitration, International Trade, Islamic Finance, Private Wealth & Family Offices, Pro Bono, Project Development and Finance, Sports, Tax, Technology Transactions, US Public Company Advisory, White Collar/Investigations

Notable clients: Saudi Aramco, Zimmer Biomet, Blackstone, Marathon Oil, ABB, Avast, Brookfield

Key services:

Mergers and Acquisitions
Financial Restructuring and Insolvency

Reason to work with White & Case: Collaborate with them for their innovative approach, deep industry knowledge, and ability to execute complex multi-jurisdictional transactions.

15. MMM

MMM is a well-established law firm recognized for its strong presence in the mergers and acquisitions (M&A) practice area.

Insider tip: Their corporate clients typically have M&A transactions valued from millions to billions of dollars.

That means you'll be in great hands.

In fact, MMM specializes in working with high-growth companies, including venture-backed and private equity-owned firms.

And they understand the complexities associated with these transactions.

They can even handle tight deadlines.

As such, they take a proactive approach, often driving the deal and offering multidisciplinary, team-oriented solutions.

Expertise: Corporate Technology, Financial Services, Healthcare, Hospitality, Insurance, Real Estate, Employment, Environmental, Government Contracts & Grants, Health Law, Insurance & Reinsurance, Intellectual Property, International Trade, Litigation, Partnerships & Investment Funds, Private Equity, Real Estate Capital Markets (REITs), Real Estate Development & Finance, Securities & Corporate Governance, Tax, Venture Capital

Key services:

Mergers & Acquisitions
Bankruptcy & Restructuring
Employee Benefits & Executive Compensation

Reason to work with MMM: Work with them for their expertise in representing high-growth companies, agility, and extensive nationwide contacts.

16. Cameron & Mittleman LLP

Cameron & Mittleman LLP is a close-knit team of 19 experienced attorneys specializing in business law and estate planning.

But although tiny, their legal expertise in M&A transactions is top-notch.

The firm is known for resolving complex legal issues and providing creative solutions.

In fact, their small team is arguably an advantage.

Cameron & Mittleman create tight-knit relationships with their clients.

As a result, you get more personalized advice for your corporate transactions, whether you need to handle leveraged buyouts or corporate governance matters.

Expertise: Banking And Finance, Bankruptcy And Reorganization, Real Estate, Communications And Technology, Corporate And Business Law, Employment And Labor Law, Health Care, Litigation, Securities, Trusts And Estates, Nonprofit Organizations

Key services:

Mergers And Acquisitions
Reorganization
Outsourcing
Joint Ventures

Reason to work with Cameron & Mittleman LLP: Opt for them for their close-knit team of experienced attorneys, agile responsiveness, and deep knowledge of banking and finance laws.

Key Factors in Choosing a Merger & Acquisition (M&A) Lawyer or Law Firm

There is no such thing as a perfect M&A firm. But there is such a thing as the right M&A firm for your needs.

Here's what to consider:

Expertise and experience: Look for lawyers and firms specializing in M&A with a strong track record in similar transactions. Experience in your industry is a significant advantage; for example, if you're a financial sponsor, look for a legal company with experience in this field.
Reputation and recommendations: A firm's reputation in the legal and business community can be telling. Recommendations from peers, industry experts, or other companies that have undergone similar transactions are invaluable.
Resource availability: Ensure the firm has sufficient resources, including staff and technological support, to handle your transactions. Larger firms may offer more resources, while smaller firms might provide more personalized attention.
Communication and approachability: Choose approachable lawyers, clear in their explanations and responsive to your queries and concerns.
Strategic thinking: M&A transactions can be complex and require innovative solutions. Look for lawyers who demonstrate strategic thinking and creativity in problem-solving.
Global reach and local knowledge: If the transaction is international, you need a firm with a global network of offices. This ensures they understand local laws and regulations in relevant jurisdictions.
Conflict of interest check: Ensure the firm or lawyer has no conflict of interest that could jeopardize your transaction.
Fee structure: Some firms work on an hourly rate, others on a fixed-fee basis. Ensure transparency and alignment with your budget.
Client references: Ask for references from past clients to gauge their satisfaction and the firm’s success rate in similar transactions.