Monthly M&A Insider - Mergermarket

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Deal of the month North America Timetable and Expected Events Regulatory Date Notes HSR (USA) 30 calendar day waiting period; further 30 calendar days following compliance with the request for additional information EC Notification (Europe) Refers to approval by the European Commission; 25/35 trading days for Phase-1 decision, further 90 trading days if referred to Phase-2 Last date for Art. 9/Art. 22 request 15 trading days from EC notification Last day for remedies within phase 1 20 trading days from EC notification, will cause 10 trading day extension if remedies submitted Art. 9/Art. 22 decision 10 trading days from request EC Decision Offer Timetable 25 trading days from notification standard Termination Date 08-Dec-09 Refers to date by which merger must be completed before agreement must be amended; can be extended to 8-Mar-10 under certain circumstances Prelim Proxy Refers to preliminary proxy statement filed with SEC, reviewing process typically lasts at least 30 calendar days, and can be as long as 60 calendar days Def Proxy Refers to definitive proxy statement declared effective by SEC Effective Date Refers to date merger becomes effective, normally 2 trading days after EGM approval Settlement Date Company Events Refers to date payment can be expected by, normally within 5 business days of Effective Date in state of New Jersey MRK AGM 28-Apr-09 Refers to company annual general meeting SGP EGM Refers to approval of merger by target's shareholders; majority affirmative vote required to approve; normally 1month from definitive proxy MRK EGM Refers to approval of merger by bidder's shareholders; majority affirmative vote required to approve; normally 1month from definitive proxy SGP EGM record date Refers to date shares must be held by in order to vote at the EGM MRK EGM record date Refers to date shares must be held by in order to vote at the EGM <strong>Monthly</strong> M&A report – 16
Top deals Top 15 North American announced deals for YTD 31 Marcht 2009 Announced Status Target company Sector Bidder company Seller company Exit multiples (x) Bid premia Revenue EBITDA P/E 1-day before 26-Jan-09 P Wyeth Pharma, Medical & Biotech 30-Jan-09 C Genentech Inc (44.10% stake) 9-Mar-09 P Schering Plough Corporation Pharma, Medical & Biotech Pharma, Medical & Biotech 23-Mar-09 P Petro-Canada Energy, Mining & Utilities 19-Mar-09 C IndyMac Federal Bank FSB 16-Mar-09 P CF Industries Holdings Inc 12-Jan-09 C Advanced Medical Optics Inc 3-Mar-09 P Magellan Midstream Holdings LP Financial Services Business Services Pharma, Medical & Biotech Energy, Mining & Utilities North America Deal value ($m) Pfizer Inc 2.8 11.7 15.3 14.7% 64,015 Roche Holding Ltd 7.7 17.4 29.6 13.0% 47,120 Merck & Co Inc 2.3 8.7 22.1 33.9% 43,198 Suncor Energy Inc 0.8 2.8 6.2 34.8% 18,391 OneWest Bank FSB n/a n/a n/a - 13,900 Agrium Inc 0.8 2.4 6.2 9.8% 3,023 Abbott Laboratories 2.3 11.3 22.7 148.6% 2,711 Magellan Midstream Partners LP 3-Feb-09 P Terra Industries Agriculture CF Industries Holdings Inc 23-Feb-09 P NOVA Chemicals Corporation 7-Mar-09 P Asarco LLC (operating assets) Industrials & Chemicals Energy, Mining & Utilities 12-Mar-09 P CV Therapeutics Inc Pharma, Medical & Biotech 27-Feb-09 L CV Therapeutics Inc Pharma, Medical & Biotech 9-Feb-09 C OVATION Pharmaceuticals Inc 6-Feb-09 C Offshore International Group Inc Pharma, Medical & Biotech Energy, Mining & Utilities International Petroleum Investment Company Sterlite Industries (India) Limited 1.8 5.1 13.4 25.0% 2,220 0.8 3.0 4.4 35.2% 2,172 0.3 4.6 (loss) 347.8% 2,028 Asarco LLC 0.9 0.0% 1,700 Gilead Sciences Inc 8.5 (loss) (loss) 25.0% 1,314 Astellas Pharma Inc 6.8 (loss) (loss) 0.9% 1,057 Lundbeck Research USA Inc Ecopetrol SA; and Korea National Oil Corporation GTCR Golder Rauner LLC - 900 - 900 C = Completed; P = Pending; L = Lapsed Source: mergermarket <strong>Monthly</strong> M&A report – 17
Page 1 and 2: Monthly M&A Insider A mergermarket
Page 3 and 4: Introduction Despite a reasonably s
Page 5 and 6: M&A faces Q&A: Non-European Investm
Page 7 and 8: Video-sharing websites face consoli
Page 9 and 10: The rising importance of mid-market
Page 11 and 12: Signs that a sick market is returni
Page 13 and 14: The Potential Impact of the Energy,
Page 15: Deal of the month RATIONALE & SYNER
Page 19 and 20: Expected deals Pipeline of North Am
Page 21 and 22: League tables Top 20 financial advi
Page 23 and 24: Trend graphs North American M&A qua
Page 25 and 26: Trend graphs North American M&A dea
Page 27 and 28: Mid-market deals North American M&A
Page 29 and 30: Latin America Odebrecht Group consi
Page 31 and 32: Deal of the month Advisers Target/s
Page 33 and 34: Top deals Top 5 Latin American anno
Page 35 and 36: Expected deals Pipeline of Latin Am
Page 37 and 38: Trend graphs Latin American M&A qua
Page 39 and 40: Mid-market deals Top 5 Latin Americ
Page 41 and 42: Asia-Pacific SOUTH KOREA LG Innotek
Page 43 and 44: Top deals Top 15 Asia-Pacific annou
Page 45 and 46: League tables Top 15 financial advi
Page 47 and 48: Monthly M&A report - 47 Asia-Pacifi
Page 49 and 50: Trend graphs Asia-Pacific M&A Geogr
Page 51 and 52: Mid-market deals Asia-Pacific M&A q
Page 53 and 54: Greater China Tech deals lead Taiwa
Page 55 and 56: Deal of the month Target: Tianjin P
Page 57 and 58: Top deals Top 15 Greater China anno
Page 59 and 60: Expected deals Pipeline of Greater
Page 61 and 62: value ($m) Trend graphs Greater Chi
Page 63 and 64: Mid-market deals Top 10 Greater Chi
Page 65 and 66: Mid-market league tables Top 10 mid
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Deal of the month Target: USJ Co.,
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Top deals Top 15 Japanese announced
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League tables Top 15 financial advi
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Trend graphs Japanese M&A quarterly
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value ($m) Mid-market deals Top 10
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Australia Looming recession keeps A
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Top deals Top 15 Australian announc
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Expected deals Pipeline of Australi
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value ($m) Trend graphs Australian
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Mid-market deals Top 10 Australian
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Mid-market league tables Top 10 Mid
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Top deals Top 5 European announced
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League tables Activity table of pri
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Trend graphs European M&A annual tr
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Trend graphs Transatlantic deals va
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Mid-market deals Announced Status T
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Mid-market league tables Top 15 mid
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Deal of the month Target: Venture P
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Expected deals Pipeline of UK expec
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Trend graphs UK M&A annual trends v
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Mid-market deals UK M&A quarterly M
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Germany Consolidating the German ne
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Deal of the month Target: Daimler A
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Expected deals Situation Target com
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value (€m) Trend graphs German M&
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Mid-market deals German M&A quarter
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France M&A in Q1 • The M&A activi
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Top Deals Top 15 French announced d
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Expected deals Pipeline of French e
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Trend graphs French M&A annual tren
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Mid-market deals French M&A Quarter
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Italy M&A in Italy in 2009 • The
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Deal of the month Exit multiples -
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Top deals Top 5 Italian announced d
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Trend graphs Italian M&A quarterly
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value (€m) Mid-market deals Top 5
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Benelux Solvay: possible divestment
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Deal of the month Target: Vanderlan
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Top deals Top 5 Benelux announced d
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Expected deals Pipeline of Benelux
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Trend graphs Benelux M&A Annual Tre
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Mid-market league tables Top Mid-ma
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Deal of the month Target: Compania
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Top deals Top 15 Iberian announced
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Expected deals Pipeline of Iberian
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Trend graphs Iberian M&A Annual Tre
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Mid-market league tables Top 5 mid-
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Deal of the month Target: Roxar ASA
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Top deals Top 15 Nordic announced d
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Top deals Top 3 Danish announced de
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Trend graphs Nordic M&A quarterly t
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Mid-market deals Nordic M&A quarter
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CEE and CIS Russian Oil producer bu
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Top deals Top 15 CEE & CIS announce
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Top Deals Top 5 Poland announced de
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Trend graphs CEE and CIS M&A quarte
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Mid-market deals Top 10 CEE & CIS a
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Russia • During the first quarter
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Top deals Top 10 Russian announced
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Expected deals Pipeline of Russian
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Trend graphs Russian M&A quarterly
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Mid-market deals Top 10 Russia anno
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The stage is yours. Which role will
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