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Exclusive research by the IFLR1000 reveals that Lexcel Partners is the most improved M&A practice in Taiwan over the past five years.
Lexcel Partners' M&A practice surged from an unranked position in 2005 to tier one in 2007, and eventually settled in tier two in 2008 and 2009. The firm’s timing was spot on - as Taiwan has sought to strengthen its ties with mainland China since the election of Ma Ying-Jeou in 2008, foreign interest in economic development has increased, making trusted mergers and acquisitions instruction a highly sought-after commodity.
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Lexcel Partners has taken advantage of a blossoming
M&A market over the last five years.
Photo: Flickr
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Lexcel burst onto the scene in 2006, securing a tier two position. The firm moved into the top tier just two years later, but dropped back down to tier two in 2008. Taishin has been a strong client of the firm, with Lexcel acting for the company in its $1.2 billion investment in Chang Hua Commercial Bank, and in Newbridge’s subsequent $900 million investment in Taishin – the world’s largest private-equity investment in Taiwan at the time.
Another improver was LCS & Partners, who jumped into the top tier in 2009 after a consistent four years in the second tier. LCS & Partners’ involvement with Standard Chartered Bank’s 2008 acquisition of Hsinchu International Bank served to bolster the firm’s place in the top tier.
Following its M&A rankings debut in 2008, Russin & Vecchi remained in tier three for two years running, providing counsel on two large acquisition deals. Similarly, Chen & Lin moved into the rankings in 2005 and has held its tier three position, building a name for itself as a competitive rival to the big legal players in Taiwan.
However the clear leaders in the Taiwanese M&A market are
Baker & McKenzie,
Lee & Li and
Jones Day, who held their respective positions in tier one over the entire five-year period. And with Baker & McKenzie hiring an M&A specialist last year, Lee & Li advising on an award winning acquisition in 2008 and Jones Day winning a key financial advisory role to counsel Taiwan Mobile Co, firms in the second tier have their work cut out for them to break the established hegemony.
[Click here to see the most recent law firm rankings for Taiwan]
MOST IMPROVED TAIWANESE M&A PRACTICES (BY TIER CHANGE)
|
|
2005 |
2006 |
2007 |
2008 |
2009 |
Tier change |
|
Lexcel Partners |
4 |
2 |
1 |
2 |
2 |
+2 |
|
LCS & Partners |
2 |
2 |
2 |
2 |
1 |
+1 |
|
Russin & Vecchi |
N/R |
N/R |
N/R |
3 |
3 |
+1 |
|
Chen & Lin |
N/R |
3 |
3 |
3 |
3 |
+1 |
|
Baker & McKenzie |
1 |
1 |
1 |
1 |
1 |
0 |
|
Lee and Li |
1 |
1 |
1 |
1 |
1 |
0 |
|
Jones Day |
1 |
1 |
1 |
1 |
1 |
0 |
|
Tsar & Tsai Law Firm |
2 |
2 |
2 |
2 |
2 |
0 |
|
Formosa Transnational |
3 |
3 |
3 |
3 |
3 |
0 |
|
Yangming Partners |
3 |
3 |
3 |
3 |
3 |
0 |
|
Pamir Law Group |
N/R |
3 |
N/R |
N/R |
N/R |
0 |
|
K&L Gates |
2 |
3 |
3 |
3 |
3 |
-1 |
|
Winkler Partners |
3 |
N/R |
N/R |
N/R |
N/R |
-1 |
|
Alliance International Law Offices/Deacons |
3 |
N/R |
N/R |
N/R |
N/R |
-1 |
|
Squire Sanders & Dempsey |
2 |
N/R |
N/R |
N/R |
N/R |
-2 |
MOST CONSISTENT TAIWANESE M&A PRACTICES (BY AVERAGE TIER)
|
|
2005 |
2006 |
2007 |
2008 |
2009 |
Average tier |
|
Baker & McKenzie |
1 |
1 |
1 |
1 |
1 |
1 |
|
Jones Day |
1 |
1 |
1 |
1 |
1 |
1 |
|
Lee & Li |
1 |
1 |
1 |
1 |
1 |
1 |
|
LCS & Partners |
2 |
2 |
2 |
2 |
1 |
1.8 |
|
Tsar & Tsai Law Firm |
2 |
2 |
2 |
2 |
2 |
2 |
|
Lexcel Partners |
N/R |
2 |
1 |
2 |
2 |
2.2 |
|
Formosa Transnational |
3 |
3 |
3 |
3 |
3 |
3 |
|
Yangming Partners |
3 |
3 |
3 |
3 |
3 |
3 |
|
K&L Gates |
N/R |
3 |
3 |
3 |
3 |
3.2 |
|
Chen & Lin |
N/R |
3 |
3 |
3 |
3 |
3.2 |
|
Russin & Vecchi |
N/R |
N/R |
N/R |
3 |
3 |
3.6 |
|
Squire Sanders & Dempsey |
2 |
N/R |
N/R |
N/R |
N/R |
3.6 |
|
Taiwan Commercial Law Offices |
2 |
N/R |
N/R |
N/R |
N/R |
3.6 |
|
Pamir Law Group |
N/R |
3 |
N/R |
N/R |
N/R |
3.8 |
|
Winkler Partners |
3 |
N/R |
N/R |
N/R |
N/R |
3.8 |
|
Alliance International Law Offices/Deacons |
3 |
N/R |
N/R |
N/R |
N/R |
3.8 |
* N/R = Not ranked.
* Firms not ranked in a given year are given the lowest tier score plus one.
Tags: Corporate, Baker and McKenzie, Asia-Pacific, Taiwan, Jones Day, Features, Lee and Li, Chen & Lin, LCS & Partners, Lexcel Partners, Russin & Vecchi