The strategy that has made Wachtell the country’s most profitable law firm challenges its ability to reclaim a top spot among M&A dealmakers.
Wachtell, Lipton, Rosen & Katz is seventh in Big Law rankings for mergers and acquisitions work through three quarters this year. That’s down from the second spot, which Wachtell has held on Bloomberg Law’s league tables in each of the last three years.
The 60-year-old Manhattan firm cemented itself as an elite corporate adviser by keeping it’s focus narrow. It has stuck closely to its model as rivals scaled up, chasing new lines of business and overhauling ...