Law firms with large European networks have managed to weather the downturn in deal activity, according to nine-month European mergers and acquisitions league tables compiled by Mergermarket data.

Freshfields Bruckhaus Deringer worked on 127 mandates totalling £114.6bn (€183.5bn) with 38 deals during the last quarter alone. Linklaters & Alliance, which was ranked second, has worked on £106.7bn worth of deals, which numbered 152. However, the gap between the two firms narrowed compared with the first six months of the year.