Allens has taken out the top spot in Australasia during Q1-Q3 2016 based on deal value, up from third position for the same period last year. The firm recorded deals worth a total of US$27.16 billion, an increase of 37.6 per cent on the same period last year.

Second place was taken out by King & Wood Mallesons, up from fourth position last year with a 46.5 per cent increase to US$26.82 billion.

National firm Gilbert + Tobin fell one place from second to third, with its total deal value dropping 20.8 per cent to US$21.07 billion.

Finally, Herbert Smith Freehills took the biggest hit, with its total deal value dropping 50.8 per cent to US$20.98 billion, landing it in fourth place this year after being top dog at the same time last year.

When ranked by deal count the top firms differed slightly.

King & Wood Mallesons took the lead with 42 deals, up from second place with 36 deals last year.

Herbert Smith Freehills took out the top spot in deal count last year with 52 deals; however, this year that fell to 39 deals, landing the firm in second place.

MinterEllison placed third when ranked by deal count, totalling 36 deals, down from 43 this time last year.

Gilbert + Tobin held their fourth position for a second year, recording 34 deals, down from 35 last year.

Interestingly, Allens, which placed first when ordered by deal value, came in fifth when ordered by deal count, with 31 deals.