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<strong>Bloomberg</strong>Global Mid Market ReviewTABLE OF CONTENTS3 Global Market Commentary <strong>Bloomberg</strong> 20094 Global Financial Rankings7 Global Private Equity Rankings Global Financial <strong>and</strong> Legal Mid Market10 Americas Financial Rankings15 Europe Financial Rankings Advisory Rankings19 Ai Asia Financial i Rankings23 Global Legal Rankings31 Global Legal Private Equity32 Americas Legal Rankings36 Europe Legal Rankings43 Asia Legal RankingsFrom the mega‐deals to the smallest private transactions, <strong>Bloomberg</strong>’s M&A league tables are your one‐stop shoppingsource for constant <strong>and</strong> timely access to the most comprehensive information available on <strong>financial</strong> <strong>and</strong> <strong>legal</strong> dealrepresentation. <strong>Our</strong> team of expert analysts provide 24‐hour, real‐time coverage of <strong>global</strong> merger <strong>and</strong> acquisition activity inan easy to use format that gives you the edge you need to gain insight into the areas of expertise of M&A’s main players.Just type MA 7 to either select a st<strong>and</strong>ardized league table or create up to 14 customizable searches based onthe criteria most relevant to your business strategy. For more on <strong>Bloomberg</strong>’s valuation <strong>and</strong> st<strong>and</strong>ards, type MA 9. Alternatively, press the green key on your <strong>Bloomberg</strong> Professional® for further instructions.VISIT {NI LEAG CRL} TO DOWNLOAD COPIES OF THE FINAL RELEASE AND A FULL RANGE OF MARKET SPECIFIC LEAGUETABLE RESULTSFor data submissions or queries, please contact:Region Contact Phone FaxEmailNorth America Timothy Leung +1‐212‐617‐6144 +1‐917‐522‐2719 tleung49@bloomberg.netEMEA Ruediger Kloss +44‐20‐7673‐2483 +44‐20‐7661‐5841 rkloss1@bloomberg.netAsia Pacific Haslina Binte Hussin +60‐3‐2302‐7852 +60‐3‐2302‐7822 hhussin@bloomberg.netLATAM Fern<strong>and</strong>a Pedreira +55‐11‐4502‐1830 +55‐11‐4502‐1880 fpedreira2@bloomberg.netGeneral M&A Queries may be submitted to: m‐a@bloomberg.netFor 24 hour <strong>global</strong> customer support call+1 212 318 2000 +44 20 7330 7500 +65 6212 1000 +81 3 3201 8900MA LEAG NI DEALSPACE MARB


<strong>Bloomberg</strong>Mid Market Deal Activity Overview• This year’s aggregate mid market volume of announced <strong>global</strong> M&A transactions was almost$490 million compared with over $660million volume for 2008, a 26% decrease compared to2008.• Over 21,100 deals up to $500mln were announced <strong>global</strong>ly this year, a 23% decreasecompared to last year.• Fourth quarter volume alone was down 8% compared to this year's third quarter, indicatingmid market deals are still weaker compared with the 57% increase in <strong>global</strong> M&Atransactions.• Much of the deal volume in the first two quarters can be attributed as bankruptcy <strong>and</strong>liquidation related or “mergers for survival.”Regional Mid Market Deal Activity• This year's <strong>global</strong> M&A activity was led by deals involving firms in the Asia <strong>and</strong> the Americas.• M&A activity in the Asia accounted for over 37% of <strong>global</strong> deal volume, <strong>and</strong> the Americasaccounted for over 34%.• The largest US only deal announced was Premierwest Bancorp’s $500 million purchase oftwo Wachovia Branches from Wells Fargo, while the largest EMEA only deal was AgaogluGroup’s $500 million Galata Wind Energy purchase.Deal Valuation Trends• For mid market deals announced in 2009, the average deal size was $43 million <strong>and</strong> theaverage premium was 49%.• This year's average deal size was down 10%, <strong>and</strong> average premiums increased 36%compared to deals announced last year.• For public company takeovers, the average EBITDA deal multiple was 14x <strong>and</strong> the averageNet Income + Depreciation deal multiple was 37x.• This year's average EBITDA deal multiple was 46% less, <strong>and</strong> the average Net Income dealmultiple was 8% more than relative to deals announced in last year's comparable period.Mid Market League Table Rankings• JP Morgan topped this year's <strong>financial</strong> mid market <strong>advisory</strong> rankings, having advised on over$24.5 billion in announced deals throughout the year.• Goldman Sachs, Morgan Stanley, Citi <strong>and</strong> Credit Suisse formed the rest of the top five <strong>global</strong><strong>financial</strong> advisors.• Ranked by total volume, Skadden Arps Slate Meagher & Flom topped this year's <strong>legal</strong><strong>advisory</strong> rankings, having advised on $14.6 billion in announced deals.• JonesDay,Latham&WatkinsLLP,Linklaters<strong>and</strong> Freshfields Bruckhaus Deringer roundedout the top five <strong>global</strong> <strong>legal</strong> advisors in announced deals.Deal Count9,0008,0007,0006,0005,0004,0003,0002,0001,0000Consumer, Noncyclical15%Global Mid Market ReviewGlobal Mid Market M&A Trends2008 Total Volume2009 Total VolumeQ1 Q2 Q3 Q4$250,000$200,000$150,000$100,000$50,000Total Mid Market Volume by Industry (2009)Financiali 25%Energy11%Diversified2%$0Technology4% Basic Materials8%Consumer, Cyclical12%Utilities4%Industrial11%Communications8%Total Volume (mln)*All Total Value figures in USD millions.* All 2009 numbers as of December 31, 2009.MA LEAG NI DEALSPACE MARB 3


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGENomura Holdings Inc1 1.2 1,057 74 15 0.4 0.7Ernst & Young2 0.9 857 100 1 1.2 (0.3)KPMG Corp Finance3 0.8 708 127 3 0.8 (0.0)Credit Suisse4 08 0.8 683 51 19 04 0.4 04 0.4Deloitte Touche Tohmatsu5 0.7 646 118 5 0.6 0.2Pricew aterhouseCoopers6 0.7 637 110 2 0.9 (0.2)UBS7 0.6 577 59 8 0.5 0.1Rothschild8 0.6 557 87 10 0.5 0.1Deutsche Bank AG9 0.6 555 41 17 0.4 0.2Morgan Stanley10 06 0.6 553 49 12 04 0.4 02 0.2Daiw a Securities Group Inc11 0.6 535 57 30 0.3 0.3CIMB12 0.6 516 35 14 0.4 0.1Mizuho Financial Group Inc13 0.6 509 67 32 0.3 0.3Macquarie Group Ltd14 0.5 492 26 20 0.3 0.2Houlihan Lokey15 0.5 478 48 7 0.5 0.0Lazard LLC 16 0.5 463 62 4 0.7 (0.1)Mitsubishi UFJ FinancialCitiBank of America Merrill LynchRBC Capital MarketsTOTAL*17 0.5 446 59 41 0.2 0.318 0.5 439 53 6 0.5 (0.0)19 0.5 407 50 9 0.5 (0.0)20 0.4 403 36 13 0.4 0.0$90,201 18,716 $125,691*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 4


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/09 2009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEMorgan Stanley1 3.1 9,924 119 6 1.7 1.4JP Morgan2 3.0 9,747 115 3 2.2 0.8Credit Suisse3 2.5 8,115 102 1 2.4 0.2Goldman Sachs & Co4 22 2.2 7256 7,256 100 7 17 1.7 05 0.5Citi5 2.2 7,151 98 5 1.9 0.3UBS6 2.1 6,857 105 4 1.9 0.2Nomura Holdings Inc7 1.7 5,581 113 17 1.0 0.8Deutsche Bank AG8 1.7 5,479 79 8 1.6 0.1Bank of America Merrill Lynch9 1.7 5,347 88 2 2.3 (0.7)Lazard LLCRBC Capital MarketsRothschildPricew aterhouseCoopersErnst & YoungMacquarie Group LtdHoulihan LokeyMizuho Financial Group IncDaiw a Securities Group IncBMO Capital MarketsKPMG Corp FinanceTOTAL*10 1.7 5,344 101 11 1.3 0.311 1.5 4,683 69 14 1.1 0.312 1.3 4,237 115 9 1.6 (0.3)13 1.2 3,845 137 10 1.4 (0.2)14 1.2 3,763 123 12 1.2 (0.1)15 1.1 3,477 47 23 0.7 0.316 1.1 3,433 73 19 0.9 0.217 1.0 3,133 93 31 0.4 0.518 1.0 3,119 82 22 0.8 0.219 1.0 3,100 39 27 0.5 0.520 0.9 2,950 145 16 1.1 (0.2)$322,78020,715$440,626*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 5


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJP Morgan1 5.0 24,455 156 4 3.5 1.5Goldman Sachs & Co2 4.5 21,833 142 3 3.9 0.6Morgan Stanley3 4.1 20,149 148 5 3.5 0.7Citi4 3.7 17,830 127 7 3.2 0.5Credit Suisse5 3.5 17,265 127 1 4.6 (1.0)UBS6 3.1 14,978 128 6 3.4 (0.3)Bank of America Merrill Lynch7 2.8 13,699 111 2 4.0 (1.2)Deutsche Bank AG8 2.6 12,526 101 9 2.6 (0.1)Nomura Holdings Inc9 2.5 12,438 132 11 1.6 0.9Rothschild10 2.2 10,928 134 8 2.8 (0.6)Lazard LLC11 2.2 10,852 117 10 1.8 0.4Macquarie Group Ltd12 1.6 7,856 59 18 1.1 0.5BNP Paribas Group13 1.6 7,699 62 17 1.2 0.4RBC Capital Markets14 1.6 7,624 77 19 1.0 0.5Mizuho Financial Group Inc15 1.5 7,420 105 40 0.4 1.1BMO Capital Markets16 1.4 6,689 49 23 0.9 0.5Pi Pricew aterhouseCoopersJefferies & CoDaiwa Securities Group IncBarclays CapitalTOTAL*17 13 1.3 6169 6,169 143 13 15 1.5 (0.2)18 1.2 6,001 52 15 1.2 (0.0)19 1.2 5,767 89 25 0.7 0.520 1.1 5,407 36 16 1.2 (0.1)$487,85821,184$662,215*Includes Mergers, Acquisitions, ions, Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 6


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL PRIVATE EQUITY ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHARESHARE (USD Mln) COUNT RANK SHARE CHANGE1 3.8 166 13 1 4.7 (0.9)2 3.2 140 11 9 1.0 2.23 2.9 127 20 3 1.4 1.5FIRMRANKErnst & YoungHoulihan LokeyKPMG Corp FinanceDeloitte Touche Tohmatsu4 23 2.3 103 16 5 13 1.3 10 1.0Rothschild5 1.8 79 10 13 0.9 0.9BMR Advisors6 1.6 71 3 51 0.4 1.2Lazard LLC7 1.6 71 11 34 0.5 1.1Moelis & Co8 1.6 70 3 - - 1.6Barclays Capital9 1.6 69 4 45 0.5 1.1o3 Capital10 15 1.5 68 7 37 05 0.5 10 1.0Pricew aterhouseCoopers11 1.3 57 19 6 1.2 0.1Piper Jaffray & Co12 1.1 50 4 107 - 1.1Evercore Partners Inc13 1.1 48 2 26 0.6 0.5AmInvestment Bank Bhd14 1.0 44 2 81 0.2 0.8Morgan Stanley15 1.0 42 7 40 0.5 0.5Altium Capital Ltd16 1.0 42 1 32 0.5 0.4Brew in Dolphin Bell Law rie LtdSociete GeneraleMontgomery & Co LLCAlixPartners LLPTOTAL*16 1.0 42 1 76 0.2 0.718 0.9 41 1 107 - 0.919 0.9 41 1 107 - 0.920 0.9 40 1 - - 0.9$4,371 1,069$7,759*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 7


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL PRIVATE EQUITY ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJP Morgan1 7.4 1,480 13 13 2.2 5.2RBC Capital Markets2 3.8 757 8 12 2.4 1.4Morgan Stanley3 3.6 724 12 21 1.1 2.5ING Groep NV4 36 3.6 724 12 29 06 0.6 30 3.0Pricew aterhouseCoopers5 3.1 629 23 2 3.5 (0.4)Jefferies & Co6 3.1 620 5 8 2.8 0.3KPMG Corp Finance7 3.1 618 23 9 2.7 0.4Citi8 2.7 533 6 15 1.6 1.0Lazard LLC9 2.5 496 15 1 3.6 (1.1)Credit Suisse10 2.3 470 5 5 3.0 (0.7)Deloitte Touche Tohmatsu11 2.2 436 19 4 3.2 (1.0)Houlihan Lokey12 2.1 414 14 26 0.7 1.3Ernst & Young13 2.0 406 14 3 3.3 (1.3)Rothschild14 2.0 401 12 7 2.9 (0.9)Close Brothers15 1.9 378 7 10 2.4 (0.5)RBS16 1.8 363 9 17 1.3 0.5Bank of America Merrill Lynch17 1.8 352 11 11 2.4 (0.6)BMO Capital Markets18 1.6 329 5 78 0.2 1.4Barclays Capital19 1.6 324 6 116 0.1 1.5Greenhill & Co20 1.4 283 2 58 0.4 1.1TOTAL*$20,062 1,200 $39,860*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 8


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL PRIVATE EQUITY ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGERBC Capital Markets1 7.6 2,404 12 21 1.4 6.2JP Morgan2 7.5 2,381 15 6 3.7 3.8Morgan Stanley3 6.8 2,169 16 9 2.9 3.9Goldman Sachs & Co4 6.5 2,059 15 1 7.9 (1.4)Barclays Capital5 6.0 1,907 10 27 1.0 5.1Jefferies & Co6 5.7 1,811 8 16 2.1 3.6Bank of America Merrill Lynch7 4.8 1,532 14 5 5.4 (0.5)Citi8 4.5 1,410 8 11 2.7 1.7Credit Suisse9 4.2 1,325 7 3 6.5 (2.3)Rothschild10 3.7 1,173 14 4 5.4 (1.7)Pricew aterhouseCoopers11 2.8 899 24 7 3.7 (0.9)Deutsche Bank AG12 2.8 885 7 20 1.8 1.0UBS13 2.6 834 5 2 7.8 (5.2)Nomura Holdings Inc14 2.4 775 5 38 0.7 1.8Peter J Solomon Co15 2.3 735 3 187 - 2.3ING Groep NV16 2.3 724 12 67 0.4 1.9Perella Weinberg Partners17 2.0 645 2 - - 2.0CIBC18 2.0 637 2 153 0.0 2.0KPMG Corp Finance19 2.0 618 23 10 2.9 (0.9)Moelis & Co20 1.8 556 6 107 0.2 1.6TOTAL*$31,668 1,232 $65,836*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 9


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGENomura Holdings Inc1 1.2 1,057 74 15 0.4 0.7Ernst & Young2 0.9 857 100 1 1.2 (0.3)KPMG Corp Finance3 0.8 708 127 3 0.8 (0.0)Credit Suisse4 08 0.8 683 51 19 04 0.4 04 0.4Deloitte Touche Tohmatsu5 0.7 646 118 5 0.6 0.2Pricew aterhouseCoopers6 0.7 637 110 2 0.9 (0.2)UBS7 0.6 577 59 8 0.5 0.1Rothschild8 0.6 557 87 10 0.5 0.1Deutsche Bank AG9 0.6 555 41 17 0.4 0.2Morgan Stanley10 06 0.6 553 49 12 04 0.4 02 0.2Daiw a Securities Group Inc11 0.6 535 57 30 0.3 0.3CIMB12 0.6 516 35 14 0.4 0.1Mizuho Financial Group Inc13 0.6 509 67 32 0.3 0.3Macquarie Group Ltd14 0.5 492 26 20 0.3 0.2Houlihan Lokey15 0.5 478 48 7 0.5 0.0Lazard LLCMitsubishi UFJ FinancialCitiBank of America Merrill LynchRBC Capital MarketsTOTAL*16 0.5 463 62 4 0.7 (0.1)17 0.5 446 59 41 0.2 0.318 0.5 439 53 6 0.5 (0.0)19 0.5 407 50 9 0.5 (0.0)20 0.4 403 36 13 0.4 0.0$90,20118,716$125,691*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 10


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEMorgan Stanley1 3.1 9,924 119 6 1.7 1.4JP Morgan2 3.0 9,747 115 3 2.2 0.8Credit Suisse3 2.5 8,115 102 1 2.4 0.2Goldman Sachs & Co4 22 2.2 7256 7,256 100 7 17 1.7 05 0.5Citi5 2.2 7,151 98 5 1.9 0.3UBS6 2.1 6,857 105 4 1.9 0.2Nomura Holdings Inc7 1.7 5,581 113 17 1.0 0.8Deutsche Bank AG8 1.7 5,479 79 8 1.6 0.1Bank of America Merrill Lynch9 1.7 5,347 88 2 2.3 (0.7)Lazard LLC10 1.7 5,344 101 11 1.3 0.3RBC Capital Markets11 1.5 4,683 69 14 1.1 0.3Rothschild12 1.3 4,237 115 9 1.6 (0.3)Pricew aterhouseCoopers13 1.2 3,845 137 10 1.4 (0.2)Ernst & Young14 1.2 3,763 123 12 1.2 (0.1)Macquarie Group Ltd15 1.1 3,477 47 23 0.7 0.3Houlihan Lokey16 1.1 3,433 73 19 0.9 0.2Mizuho Financial Group Inc17 1.0 3,133 93 31 0.4 0.5Daiw a Securities Group Inc18 1.0 3,119 82 22 0.8 0.2BMO Capital Markets19 1.0 3,100 39 27 0.5 0.5KPMG Corp Finance20 0.9 2,950 145 16 1.1 (0.2)TOTAL*$322,780 20,715 $440,626*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 11


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJP Morgan1 5.0 24,455 156 4 3.5 1.5Goldman Sachs & Co2 4.5 21,833 142 3 3.9 0.6Morgan Stanley3 4.1 20,149 148 5 3.5 0.7Citi4 3.7 17,830 127 7 3.2 0.5Credit Suisse5 3.5 17,265 127 1 4.6 (1.0)UBS6 3.1 14,978 128 6 3.4 (0.3)Bank of America Merrill Lynch7 2.8 13,699 111 2 4.0 (1.2)Deutsche Bank AG8 2.6 12,526 101 9 2.6 (0.1)Nomura Holdings Inc9 2.5 12,438 132 11 1.6 0.9Rothschild10 2.2 10,928 134 8 2.8 (0.6)Lazard LLC11 2.2 10,852 117 10 1.8 0.4Macquarie Group Ltd12 1.6 7,856 59 18 1.1 0.5BNP Paribas Group13 1.6 7,699 62 17 1.2 0.4RBC Capital Markets14 1.6 7,624 77 19 1.0 0.5Mizuho Financial Group Inc15 1.5 7,420 105 40 0.4 1.1BMO Capital Markets16 1.4 6,689 49 23 0.9 0.5Pricew aterhouseCoopersJefferies & CoDaiwa Securities Group IncBarclays CapitalTOTAL*17 1.3 6,169 143 13 1.5 (0.2)18 1.2 6,001 52 15 1.2 (0.0)19 1.2 5,767 89 25 0.7 0.520 1.1 5,407 36 16 1.2 (0.1)$487,85821,184$662,215*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 12


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesCANADA ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEBMO Capital Markets1 14.2 5,979 40 1 11.2 3.0RBC Capital Markets2 10.8 4,541 41 3 9.0 1.8Scotia Capital Inc3 8.8 3,699 24 6 6.2 2.6CIBC4 83 8.3 3507 3,507 29 2 10.00 (1.7)Goldman Sachs & Co5 6.7 2,800 11 11 2.5 4.1TD Securities6 5.7 2,412 30 4 8.3 (2.6)JP Morgan7 5.2 2,196 12 10 3.4 1.8Macquarie Group Ltd8 5.0 2,110 20 8 4.2 0.8GMP Securities LP9 4.9 2,083 19 9 4.0 0.9Morgan StanleyNational Bank Financial IncPeters & Co LtdUBSCredit SuisseFirstEnergy Capital CorpCormark Securities IncBank of America Merrill LynchLazard LLCJefferies & CoCitiTOTAL*10 39 3.9 1655 1,655 10 7 58 5.8 (1.9)11 3.8 1,608 15 12 2.5 1.312 2.9 1,202 17 71 0.1 2.813 2.8 1,182 9 15 1.9 1.014 2.7 1,152 6 20 1.4 1.315 2.4 1,026 11 19 1.4 1.016 2.1 873 8 28 0.9 1.217 2.0 856 2 5 7.2 (5.2)18 1.8 760 7 16 1.8 (0.0)19 1.7 711 6 24 1.2 0.520 1.4 573 4 45 0.4 1.0$38,2411,727$39,519*Includes M ergers, Acquisit ions, Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 13


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesLATIN AMERICA ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/09 20092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGECredit Suisse1 13.6 3,118 17 1 14.1 (0.5)Banco Bradesco SA2 11.2 2,579 12 11 2.9 8.3Citi3 9.2 2,116 13 4 9.9 (0.7)JP Morgan4 89 8.9 2047 2,047 18 7 62 6.2 27 2.7Banco Sant<strong>and</strong>er SA5 8.2 1,877 12 6 6.4 1.8Banco Itau BBA SA6 8.2 1,877 13 9 3.1 5.1Morgan Stanley7 7.2 1,642 9 5 9.0 (1.8)BNP Paribas Group8 4.5 1,023 8 16 2.2 2.2Bank of America Merrill Lynch9 3.9 894 3 8 3.2 0.7Pricew aterhouseCoopers10 30 3.0 683 6 39 01 0.1 29 2.9Estater Gestao e Financas SA11 3.0 680 5 14 2.6 0.4Goldman Sachs & Co12 2.9 658 4 12 2.8 0.0IM Trust & Co SA13 1.8 403 1 - - 1.8Banco Bilbao Vizcaya Argentaria 14 1.5 339 5 21 1.0 0.5Rothschild15 1.3 303 1 3 10.3 (8.9)BMO Capital Markets16 1.3 291 1 - - 1.3G5 AdvisorsMotilal Osw al Investment AdvisorsPatria InvestimentosBanco BTG Pactual SATOTAL*17 1.0 241 2 48 - 1.018 1.0 240 1 - - 1.019 0.9 206 3 22 0.9 (0.0)20 0.9 200 3 - - 0.9$22,932 607$30,969*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 14


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGECredit Suisse1 1.7 410 26 14 0.4 1.3Rothschild2 1.7 398 75 4 1.1 0.6UBS3 1.5 366 37 24 0.3 1.2Deutsche Bank AG4 15 1.5 363 23 10 05 0.5 10 1.0Deloitte Touche Tohmatsu5 1.2 296 63 7 0.7 0.5Ernst & Young6 1.2 276 50 2 1.6 (0.4)Grant Thornton International Ltd7 1.0 243 54 112 0.1 0.9BNP Paribas Group8 1.0 235 31 18 0.4 0.6Jefferies & Co9 1.0 232 12 42 0.2 0.8Nomura Holdings Inc10 09 0.9 218 15 49 02 0.2 07 0.7Lazard LLC11 0.9 213 41 1 1.6 (0.7)JP Morgan12 0.9 204 32 55 0.2 0.7Pricew aterhouseCoopers13 0.8 194 62 6 0.8 (0.0)ING Groep NV14 0.8 192 36 32 0.3 0.5Morgan Stanley15 0.6 152 17 9 0.6 0.0Sk<strong>and</strong>inaviska Enskilda Banken 16 0.6 148 19 12 0.5 0.1Close BrothersKPMG Corp FinanceHoulihan LokeyBES Investimento SATOTAL*17 0.6 144 12 26 0.3 0.318 0.6 142 68 3 1.1 (0.5)19 0.5 128 12 23 0.3 0.220 0.5 113 15 5 0.9 (0.4)$22,170 4,954$42,315*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 15


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEUBS1 4.1 4,020 65 8 1.6 2.5JP Morgan2 4.1 3,976 61 4 2.1 2.0Lazard LLC3 4.0 3,884 70 5 2.0 2.0Morgan Stanley4 36 3.6 3532 3,532 43 12 14 1.4 22 2.2Rothschild5 3.0 2,957 95 1 3.0 (0.0)Credit Suisse6 2.8 2,697 42 2 2.5 0.2BNP Paribas Group7 2.3 2,221 44 16 1.2 1.1Goldman Sachs & Co8 2.0 1,997 42 18 1.1 0.9Pricew aterhouseCoopers9 2.0 1,911 75 11 1.6 0.4Deutsche Bank AG10 1.9 1,849 34 3 2.4 (0.5)Ernst & Young11 1.6 1,581 59 10 1.6 0.0Bank of America Merrill Lynch12 1.5 1,503 30 7 1.9 (0.3)ING Groep NV13 1.5 1,452 45 24 0.8 0.7Deloitte Touche Tohmatsu14 1.5 1,424 71 15 1.2 0.3Citi15 1.4 1,413 26 14 1.3 0.2KPMG Corp Finance16 1.4 1,362 77 9 1.6 (0.2)Jefferies & Co17 1.4 1,328 21 13 1.4 0.0RBS18 1.4 1,322 37 6 2.0 (0.7)RBC Capital Markets19 1.2 1,183 13 26 0.7 0.5Nomura Holdings Inc20 1.0 973 23 31 0.5 0.5TOTAL*$88,817 4,954 $171,206*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 16


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJP Morgan1 6.2 9,561 76 4 3.5 2.6Goldman Sachs & Co2 5.5 8,512 61 9 2.8 2.7Morgan Stanley3 5.1 7,853 55 10 2.8 2.3Rothschild4 5.0 7,739 109 2 4.4 0.6UBS5 5.0 7,733 74 6 3.2 1.8Lazard LLC6 4.5 6,962 79 11 2.4 2.1Credit Suisse7 4.2 6,509 53 1 4.9 (0.7)BNP Paribas Group8 3.9 6,026 54 13 1.8 2.1Deutsche Bank AG9 3.6 5,518 45 7 3.0 0.5Citi10 2.9 4,514 34 5 3.3 (0.4)Bank of America Merrill Lynch11 2.6 4,028 37 3 3.6 (1.0)HSBC12 1.9 2,998 32 20 1.0 0.9RBS13 1.9 2,927 41 8 2.9 (1.0)Sk<strong>and</strong>inaviska Enskilda Banken 14 1.7 2,576 28 26 0.9 0.7Mediobanca15 1.6 2,501 15 14 1.6 (0.0)Pricew aterhouseCoopers16 1.2 1,911 75 15 1.5 (0.2)BMO Capital Markets17 1.2 1,862 9 - - 1.2Jefferies & Co18 1.2 1,817 22 22 1.0 0.2KPMG Corp Finance19 1.1 1,755 78 12 2.1 (0.9)ING Groep NV20 1.1 1,702 46 34 0.6 0.5TOTAL*$140,2655,677$264,453*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 17


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesUNITED KINGDOM ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGERothschild1 6.6 3,296 43 1 7.3 (0.7)Goldman Sachs & Co2 6.1 3,066 20 22 1.4 4.8JP Morgan3 5.2 2,596 28 2 5.4 (0.2)Deutsche Bank AG4 51 5.1 2543 2,543 17 7 30 3.0 20 2.0UBS5 4.2 2,110 25 5 4.2 0.0Credit Suisse6 3.2 1,610 12 4 4.4 (1.2)Morgan Stanley7 2.9 1,466 12 27 1.1 1.8Lazard LLC8 2.7 1,353 18 14 1.8 0.9Bank of America Merrill Lynch9 2.6 1,299 12 3 4.4 (1.8)CitiDeloitte Touche TohmatsuHSBCRenaissance Capital GroupRBC Capital MarketsErnst & YoungClose BrothersLexicon PartnersHaw kpointStr<strong>and</strong> PartnersJefferies & Co10 25 2.5 1269 1,269 13 6 38 3.8 (1.3)11 1.9 970 38 13 2.0 (0.1)12 1.9 934 14 16 1.6 0.213 1.7 871 2 60 0.3 1.414 1.7 838 9 23 1.3 0.415 1.7 836 18 15 1.6 0.016 1.6 804 9 17 1.6 0.017 1.5 753 11 8 2.8 (1.3)18 1.5 728 13 37 0.6 0.919 1.4 695 3 144 0.0 1.320 1.1 539 11 11 2.3 (1.2)TOTAL* $42,859 1,871$79,567*Includes M ergers, Acquisit ions, Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 18


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesASIA PACIFIC EX-JAPAN ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEAL MARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEErnst & Young1 1.3 539 47 1 2.0 (0.6)CIMB2 1.3 516 35 4 1.1 0.2KPMG Corp Finance3 1.2 471 38 5 0.9 0.3Pricew aterhouseCoopersMacquarie Group LtdDeloitte Touche TohmatsuICICIAmInvestment Bank BhdCredit SuisseMorgan StanleyBank of America Merrill LynchDeutsche Bank AGUnited Securities CoJM Financial LtdUBSRHBBMR AdvisorsSomerley LtdWallbanck Brothers Securities HK LtdGrant Thornton International LtdTOTAL*4 09 0.9 380 39 2 14 1.4 (0.4)5 0.8 336 18 8 0.7 0.16 0.7 277 32 9 0.6 0.07 0.6 254 12 23 0.4 0.28 0.6 233 13 3 1.2 (0.6)9 0.6 226 14 106 0.1 0.510 05 0.5 209 13 27 03 0.3 02 0.211 0.5 206 10 20 0.4 0.112 0.5 203 10 19 0.4 0.113 0.4 177 6 32 0.3 0.114 0.4 163 7 34 0.3 0.115 0.4 157 14 10 0.6 (0.2)16 0.4 144 11 25 0.4 (0.0)17 0.4 143 9 46 0.2 0.218 0.3 132 20 12 0.5 (0.2)19 0.3 111 6 147 0.1 0.220 0.3 110 14 - - 0.3$40,1196,150$47,789*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 19


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesASIA PACIFIC EX-JAPAN ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEMorgan Stanley1 2.1 2,716 34 14 1.3 0.8Macquarie Group Ltd2 1.9 2,517 33 8 1.8 0.1Deutsche Bank AG3 1.7 2,241 28 5 2.2 (0.5)Goldman Sachs & Co4 17 1.7 2,194 23 9 18 1.8 (0.1)Citi5 1.7 2,164 23 7 1.8 (0.1)UBS6 1.7 2,136 30 2 2.7 (1.0)Credit Suisse7 1.6 2,063 28 11 1.5 0.1Ernst & Young8 1.4 1,794 58 6 1.9 (0.5)St<strong>and</strong>ard Chartered PLC9 1.2 1,537 13 31 0.5 0.7Bank of America Merrill LynchJP MorganPricew aterhouseCoopersHSBCCIMBAmInvestment Bank BhdCITIC Securities Co LtdUnited Securities CoDBS Group Holdings LtdRothschildGresham Partners LtdTOTAL*10 12 1.2 1,516 19 4 23 2.3 (1.2)11 1.0 1,299 11 10 1.7 (0.7)12 1.0 1,265 49 1 2.7 (1.7)13 0.9 1,225 17 23 0.6 0.314 0.9 1,194 41 3 2.5 (1.6)15 0.9 1,159 20 19 1.1 (0.2)16 0.9 1,122 16 34 0.4 0.417 0.9 1,120 11 41 0.3 0.518 0.9 1,109 15 43 0.3 0.619 0.7 960 16 18 1.1 (0.4)20 0.6 834 15 40 0.3 0.3$126,964 6,907$135,763*Includes M ergers, Acquisit ions, Divestitures, Self-tenders <strong>and</strong> Spinoff s. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 20


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesASIA PACIFIC EX-JAPAN ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEMacquarie Group Ltd1 3.3 6,071 43 7 2.8 0.5Morgan Stanley2 3.2 5,832 43 10 2.4 0.8Citi3 3.1 5,668 32 4 3.4 (0.3)Goldman Sachs & Co4 29 2.9 5,291 33 3 34 3.4 (0.5)UBS5 2.6 4,693 38 6 3.1 (0.5)Deutsche Bank AG6 2.6 4,692 36 5 3.2 (0.6)Credit Suisse7 2.2 4,032 33 1 3.8 (1.6)JP Morgan8 1.6 2,979 15 11 2.2 (0.6)Bank of America Merrill Lynch9 1.6 2,828 23 2 3.5 (1.9)CITIC Securities Co Ltd10 14 1.4 2,620 20 39 04 0.4 10 1.0Ernst & Young11 1.2 2,183 59 14 1.7 (0.5)CIMB12 1.1 1,997 43 9 2.5 (1.4)Pricew aterhouseCoopers13 1.1 1,961 51 8 2.7 (1.6)BNP Paribas Group14 1.1 1,913 8 16 1.4 (0.4)St<strong>and</strong>ard Chartered PLC15 1.0 1,855 14 27 0.7 0.3Somerley Ltd16 1.0 1,786 26 18 1.4 (0.4)Gresham Partners Ltd17 1.0 1,732 18 23 0.8 0.2Nomura Holdings Inc18 0.9 1,723 15 25 0.7 0.2AmInvestment Bank Bhd19 0.9 1,579 21 21 0.8 0.1HSBC20 0.9 1,557 18 22 0.8 0.1TOTAL* $176,377 7,049 $187,750*Includes M ergers, Acquisit ions, Divestitures, Self-tenders <strong>and</strong> Spinoff s. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 21


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Financial Advisory League TablesJAPAN ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/09 20092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGENomura Holdings Inc1 19.4 9,450 110 1 14.4 5.0Mizuho Financial Group Inc2 15.1 7,362 104 6 5.4 9.7Daiw a Securities Group Inc3 11.7 5,692 88 2 9.7 1.9Mitsubishi UFJ FinancialCitiPricew aterhouseCoopersBank of America Merrill LynchGoldman Sachs & CoGCA Savvian Group CorpJP MorganKPMG Corp FinanceErnst & YoungUBSCredit SuisseLazard LLCDeloitte Touche TohmatsuDeutsche Bank AGMacquarie Group LtdMorgan StanleyABeam M&A Consulting LtdTOTAL*4 74 7.4 3,586 74 3 69 6.9 04 0.45 6.2 3,016 30 5 5.5 0.76 5.0 2,436 24 15 1.7 3.37 4.2 2,063 19 13 1.9 2.48 3.9 1,877 7 4 6.3 (2.5)9 3.6 1,756 37 7 4.9 (1.3)10 2.9 1,420 9 9 3.0 (0.1)11 2.6 1,267 24 10 2.9 (0.3)12 2.0 989 13 17 1.3 0.713 2.0 985 7 11 2.4 (0.4)14 1.9 941 9 21 0.8 1.115 1.9 926 8 14 1.7 0.216 1.9 910 22 19 1.2 0.717 1.8 887 8 12 1.9 (0.1)18 1.6 797 4 20 1.1 0.519 1.5 753 7 8 3.6 (2.1)20 1.5 744 10 31 0.5 1.1$45,938 2,191$47,265*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 22


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 2009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 1.8 1,584 268 1 1.0 0.7DLA Piper LLP2 0.9 791 159 2 1.2 (0.3)Clif f ord Chance LLP3 0.4 400 116 4 0.6 (0.2)Linklaters LLPAllen & Overy LLPCMSFreshfields Bruckhaus DeringerBaker & McKenzieLatham & Watkins LLPWilson Sonsini Goodrich & RosatiDorsey & WhitneyMori Hamada & MatsumotoKim & ChangBlake Cassels & Graydon LLPWeil Gotshal & Manges LLPSkadden Arps Slate Meagher & FlomMorrison & Foerster LLPMorgan Lew is & BockiusDechertPaul Hastings Janofsky & Walker LLPTOTAL*4 07 0.7 594 103 7 08 0.8 (0.2)5 0.7 634 92 6 0.5 0.25 0.6 527 92 5 0.9 (0.3)7 0.6 528 88 10 0.6 (0.1)8 0.8 718 87 3 1.0 (0.2)9 0.7 644 71 8 0.7 (0.0)10 06 0.6 586 69 13 06 0.6 00 0.010 0.3 266 69 11 0.3 (0.0)12 0.7 672 64 54 0.3 0.413 0.8 749 63 19 0.6 0.214 0.5 487 60 25 0.4 0.115 0.4 370 57 36 0.2 0.216 0.7 614 56 25 0.4 0.316 0.6 523 56 58 0.4 0.218 0.2 182 55 25 0.3 (0.1)19 0.2 225 54 29 0.3 (0.1)20 0.3 258 51 21 0.4 (0.1)$90,201 18,716 $125,691*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 23


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Deal Count01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 2.3 7,295 315 1 1.9 0.3DLA Piper LLP2 0.9 2,833 176 2 1.7 (0.8)Clif f ord Chance LLP3 1.1 3,443 138 6 1.3 (0.2)Linklaters LLP4 14 1.4 4,651 136 4 20 2.0 (0.6)Baker & McKenzie5 1.6 5,034 121 3 1.1 0.5Freshfields Bruckhaus Deringer6 1.5 4,876 120 10 1.2 0.3Allen & Overy LLP6 1.3 4,316 120 8 1.2 0.1Latham & Watkins LLP8 1.5 4,758 106 4 1.9 (0.4)CMS9 0.5 1,550 103 7 1.4 (0.9)Skadden Arps Slate Meagher & FlomMori Hamada & MatsumotoBlake Cassels & Graydon LLPWilson Sonsini Goodrich & RosatiKim & ChangMorrison & Foerster LLPWeil Gotshal & Manges LLPShearman & Sterling LLPDorsey & WhitneyDechertWhite & Case LLPTOTAL*10 1.9 6,222 100 12 1.7 0.311 1.2 3,826 91 42 0.7 0.512 1.3 4,357 87 25 0.7 0.613 0.7 2,308 83 14 0.7 0.114 1.0 3,271 82 19 0.6 0.415 1.1 3,474 78 59 0.4 0.716 0.6 2,008 73 28 0.7 (0.1)17 1.4 4,488 71 36 0.8 0.617 0.2 496 71 11 0.5 (0.4)19 0.6 2,079 68 32 0.6 0.020 0.8 2,441 67 9 1.3 (0.5)$322,780 20,715$440,626*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 24


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 3.0 14,598 335 1 2.2 0.8DLA Piper LLP2 0.9 4,240 180 2 1.6 (0.7)Linklaters LLP3 2.2 10,524 152 4 2.5 (0.3)Clifford Chance LLPFreshfields Bruckhaus DeringerBaker & McKenzieAllen & Overy LLPLatham & Watkins LLPSkadden Arps Slate Meagher & FlomCMSMori Hamada & MatsumotoBlake Cassels & Graydon LLPKim & ChangWilson Sonsini Goodrich & RosatiShearman & Sterling LLPWeil Gotshal & Manges LLPMorrison & Foerster LLPO'Melveny & Myers LLPDorsey & WhitneyWhite & Case LLPTOTAL*4 16 1.6 7,667 150 6 22 2.2 (0.6)5 1.9 9,351 132 9 2.0 (0.0)6 1.8 8,841 131 4 1.6 0.27 1.5 7,441 128 7 1.9 (0.3)8 2.2 10,805 124 3 3.0 (0.8)9 3.0 14,647 122 12 2.2 0.810 0.6 3,044 107 8 1.1 (0.5)11 1.6 7,941 102 41 0.7 0.912 1.4 6,810 94 22 1.2 0.213 1.2 5,707 89 19 0.8 0.414 0.9 4,479 89 16 0.8 0.115 1.9 9,053 84 34 1.0 0.916 1.1 5,144 82 26 1.2 (0.1)17 1.0 4,663 82 60 0.5 0.518 1.1 5,367 74 17 1.0 0.119 0.3 1,487 74 11 0.8 (0.5)20 0.8 3,690 71 10 1.6 (0.8)$487,858 21,184 $662,215*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 25


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRM RANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 1.8 1,584 268 2 1.0 0.7DLA Piper LLP2 0.9 791 159 1 1.2 (0.3)Kim & Chang3 0.8 749 63 11 0.6 0.2Baker & McKenzie4 08 0.8 718 87 3 10 1.0 (0.2)Mori Hamada & Matsumoto5 0.7 672 64 36 0.3 0.4Latham & Watkins LLP6 0.7 644 71 6 0.7 (0.0)Allen & Overy LLP7 0.7 634 92 15 0.5 0.2Skadden Arps Slate Meagher & Flom 8 0.7 614 56 26 0.4 0.3Linklaters LLP9 0.7 594 103 5 0.8 (0.2)Wilson Sonsini Goodrich & Rosati10 06 0.6 586 69 9 06 0.6 00 0.0Freshfields Bruckhaus Deringer 11 0.6 528 88 10 0.6 (0.1)CMS12 0.6 527 92 4 0.9 (0.3)Morrison & Foerster LLP13 0.6 523 56 22 0.4 0.2Blake Cassels & Graydon LLP14 0.5 487 60 16 0.4 0.1Fasken Martineau DuMoulin LLP 15 0.5 484 47 52 0.2 0.3Dew ey & LeBoeuf LLP16 0.5 469 38 72 0.2 0.3Anderson Mori & Tomotsune17 0.5 434 36 380 - 0.5Cooley Godward Kronish LLP18 0.5 431 44 64 0.2 0.3Stikeman Elliott19 0.5 417 37 30 0.4 0.1Lee & Ko20 0.5 410 30 31 0.3 0.1TOTAL*$90,201 18,716 $125,691*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 26


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/09 2009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 2.3 7,295 315 2 1.9 0.3Skadden Arps Slate Meagher & Flom 2 1.9 6,222 100 5 1.7 0.3Baker & McKenzie3 1.6 5,034 121 11 1.1 0.5Freshfields Bruckhaus Deringer4 15 1.5 4,876 120 10 12 1.2 03 0.3Latham & Watkins LLP5 1.5 4,758 106 3 1.9 (0.4)Linklaters LLP6 1.4 4,651 136 1 2.0 (0.6)Shearman & Sterling LLP7 1.4 4,488 71 20 0.8 0.6Blake Cassels & Graydon LLP8 1.3 4,357 87 28 0.7 0.6Allen & Overy LLP9 1.3 4,316 120 9 1.2 0.1Mori Hamada & Matsumoto10 1.2 3,826 91 24 0.7 0.5Simpson Thacher & Bartlett11 1.2 3,738 52 75 0.3 0.8Morrison & Foerster LLP12 1.1 3,474 78 59 0.4 0.7Clifford Chance LLP13 1.1 3,443 138 8 1.3 (0.2)Kim & Chang14 1.0 3,271 82 37 0.6 0.4Cleary Gottlieb Steen & Hamilton 15 1.0 3,231 48 50 0.5 0.5Davis Polk & Wardw ell16 1.0 3,090 45 52 0.4 0.5DLA Piper LLP17 0.9 2,833 176 4 1.7 (0.8)Slaughter <strong>and</strong> May18 0.8 2,733 44 48 0.5 0.3McCarthy Tetrault19 0.8 2,714 63 33 0.6 0.2Freehills20 0.8 2,703 58 18 0.8 (0.0)TOTAL*$322,780 20,715 $440,626*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 27


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/0912/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGESkadden Arps Slate Meagher & Flom 1 3.0 14,647 122 5 2.2 0.8Jones Day2 3.0 14,598 335 4 2.2 0.8Latham & Watkins LLP3 2.2 10,805 124 1 3.0 (0.8)Linklaters LLP4 22 2.2 10,524 152 2 25 2.5 (0.3)Freshfields Bruckhaus Deringer5 1.9 9,351 132 6 2.0 (0.0)Shearman & Sterling LLP6 1.9 9,053 84 23 1.0 0.9Baker & McKenzie7 1.8 8,841 131 10 1.6 0.2Mori Hamada & Matsumoto8 1.6 7,941 102 41 0.7 0.9Simpson Thacher & Bartlett9 1.6 7,830 64 40 0.7 0.9Clifford Chance LLP10 16 1.6 7,667 150 3 22 2.2 (0.6)Allen & Overy LLP11 1.5 7,441 128 7 1.9 (0.3)Blake Cassels & Graydon LLP12 1.4 6,810 94 15 1.2 0.2Dew ey & LeBoeuf LLP13 1.3 6,571 69 13 1.3 0.0Davis Polk & Wardwell14 1.3 6,277 54 29 0.9 0.4Kim & Chang15 1.2 5,707 89 38 0.8 0.4Vinson & Elkins LLP16 1.1 5,436 33 43 0.6 0.5McCarthy Tetrault17 1.1 5,403 70 34 0.8 0.3O'Melveny & Myers LLP18 1.1 5,367 74 22 1.0 0.1Freehills19 1.1 5,233 66 14 1.3 (0.2)Kirkl<strong>and</strong> & Ellis20 1.1 5,222 53 20 1.0 0.0TOTAL*$487,858 21,184 $662,215*Includes M ergers, Acquisit ions, Divestitures, Self -tenders <strong>and</strong> Spinoff s. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 28


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALS - COUNCEL TO PRINCIPALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 2.8 13,765 327 1 2.0 0.9DLA Piper LLP2 0.9 4,148 179 2 1.5 (0.7)Linklaters LLP3 2.1 10,002 150 5 2.3 (0.2)Clifford Chance LLP4 1.6 7,667 149 4 2.2 (0.6)Freshfields Bruckhaus Deringer5 1.9 9,351 132 9 1.9 (0.0)Baker & McKenzie6 1.8 8,803 129 3 1.5 0.3Allen & Overy LLP7 1.5 7,433 126 6 1.8 (0.3)Latham & Watkins LLP8 1.7 8,482 113 8 1.9 (0.1)CMS9 0.6 3,044 107 7 1.1 (0.5)Skadden Arps Slate Meagher & FlomMori Hamada & MatsumotoBlake Cassels & Graydon LLPKim & ChangWilson Sonsini Goodrich & RosatiWeil Gotshal & Manges LLPMorrison & Foerster LLPDorsey & WhitneyShearman & Sterling LLPWhite & Case LLPMcCarthy TetraultTOTAL*10 2.5 12,359 106 12 1.9 0.711 1.6 7,941 102 42 0.6 1.012 1.4 6,810 94 21 1.2 0.213 1.2 5,707 89 18 0.8 0.414 0.8 3,847 86 16 0.8 (0.0)15 1.0 4,902 80 26 1.1 (0.1)16 0.9 4,240 78 59 0.4 0.517 0.3 1,487 74 11 0.8 (0.5)18 1.7 8,172 72 38 0.8 0.819 0.8 3,690 71 10 1.5 (0.7)20 1.1 5,288 69 34 0.8 0.3$487,858 21,184$662,215*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 29


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL ANNOUNCED DEALS - COUNCEL TO PRINCIPALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 2.8 13,765 327 3 2.0 0.9Skadden Arps Slate Meagher & Flom 2 2.5 12,359 106 6 1.9 0.7Linklaters LLP3 2.1 10,002 150 1 2.3 (0.2)Freshfields Bruckhaus Deringer4 1.9 9,351 132 4 1.9 (0.0)Baker & McKenzie5 1.8 8,803 129 9 1.5 0.3Latham & Watkins LLP6 1.7 8,482 113 5 1.9 (0.1)Shearman & Sterling LLP7 1.7 8,172 72 24 0.8 0.8Mori Hamada & Matsumoto8 1.6 7,941 102 40 0.6 1.0Clifford Chance LLP9 1.6 7,667 149 2 2.2 (0.6)Allen & Overy LLPBlake Cassels & Graydon LLPSimpson Thacher & BartlettKim & ChangVinson & Elkins LLPMcCarthy TetraultFreehillsWeil Gotshal & Manges LLPKirkl<strong>and</strong> & EllisDavis Polk & WardwellDebevoise & Plimpton LLPTOTAL*10 1.5 7,433 126 7 1.8 (0.3)11 1.4 6,810 94 13 1.2 0.212 1.3 6,225 58 42 0.6 0.713 1.2 5,707 89 35 0.8 0.414 1.1 5,436 33 43 0.6 0.515 1.1 5,288 69 31 0.8 0.316 1.1 5,233 66 12 1.3 (0.2)17 1.0 4,902 80 16 1.1 (0.1)18 1.0 4,901 51 18 1.0 (0.0)19 1.0 4,882 44 36 0.7 0.320 1.0 4,694 41 26 0.8 0.2$487,858 21,184$662,215*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 30


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesGLOBAL PRIVATE EQUITY ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 6.3 1,725 81 1 2.5 3.8Latham & Watkins LLP2 7.9 2,179 24 3 7.3 0.6Kirkl<strong>and</strong> & Ellis2 3.5 950 24 2 5.3 (1.8)Weil Gotshal & Manges LLP4 3.2 886 20 9 1.8 1.5Linklaters LLP5 5.7 1,575 19 9 3.5 2.2Simpson Thacher & Bartlett6 9.8 2,696 18 43 2.3 7.5Skadden Arps Slate Meagher & Flom 7 6.8 1,867 17 15 4.4 2.4DLA Piper LLP7 2.6 711 17 5 2.4 0.2Dechert9 2.9 809 16 38 1.8 1.1O'Melveny & Myers LLP 10 3.7 1,021 14 11 3.6 0.1CMS11 2.4 654 13 6 2.2 0.2Paul Weiss Rif kind Wharton & Garrison 12 4.0 1,108 12 28 1.6 2.4Allen & Overy LLP12 2.1 580 12 11 2.7 (0.6)Clif f ord Chance LLP14 4.1 1,132 11 7 3.6 0.5Gibson Dunn & Crutcher14 1.4 397 11 25 3.2 (1.7)Goodw in Procter LLP14 1.0 262 11 18 1.9 (0.9)Freshfields Bruckhaus DeringerStikeman ElliottDebevoise & Plimpton LLPSlaughter <strong>and</strong> May17 2.2 618 10 15 2.4 (0.2)17 2.2 596 10 33 1.7 0.419 6.3 1,740 9 66 2.0 4.319 3.8 1,044 9 95 0.4 3.4TOTAL* $31,668 1,232 $65,836*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 31


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesUNITED STATES ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRM RANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 4.1 930 191 1 2.2 1.8DLA Piper LLP2 2.1 483 89 2 2.1 0.0Wilson Sonsini Goodrich & Rosati 3 2.6 586 69 5 2.4 0.2Dorsey & Whitney4 09 0.9 195 62 4 11 1.1 (0.2)Latham & Watkins LLP5 2.2 504 53 3 2.2 (0.0)Morgan Lew is & Bockius6 0.7 158 50 11 1.2 (0.5)Skadden Arps Slate Meagher & Flom 7 2.0 464 44 17 1.0 1.0Cooley Godw ard Kronish LLP7 1.9 431 44 25 0.8 1.1Baker & McKenzie9 1.2 264 43 7 1.3 (0.2)Weil Gotshal & Manges LLP9 10 1.0 239 43 24 07 0.7 04 0.4O'Melveny & Myers LLP11 1.1 245 41 8 1.1 0.0Dechert12 0.6 143 40 13 0.7 (0.1)Paul Hastings Janofsky & Walker LLP 13 0.8 184 38 13 1.1 (0.3)Morrison & Foerster LLP14 1.2 272 37 33 1.1 0.1Fenw ick & West LLP15 1.1 243 36 21 0.9 0.2Gibson Dunn & Crutcher16 0.8 180 33 10 0.8 0.0Kirkl<strong>and</strong> & EllisSidley Austin LLPHogan & Hartson LLPClif f ord Chance LLPTOTAL*17 1.3 289 30 6 0.9 0.417 1.1 249 30 15 0.4 0.717 1.1 243 30 9 1.2 (0.2)20 0.7 160 29 20 0.6 0.1$22,715 6,572 $33,488*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 32


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesUNITED STATES ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 4.4 4,251 219 1 3.6 0.8DLA Piper LLP2 2.1 2,044 101 2 3.4 (1.3)Wilson Sonsini Goodrich & Rosati 3 2.4 2,335 83 5 2.1 0.3Latham & Watkins LLP4 40 4.0 3,836 80 3 50 5.0 (1.0)Skadden Arps Slate Meagher & Flom 5 4.1 3,987 71 10 4.0 0.2Dorsey & Whitney6 0.4 425 64 4 1.3 (0.9)Morgan Lew is & Bockius7 1.6 1,493 61 12 1.8 (0.3)Cooley Godw ard Kronish LLP8 1.8 1,776 57 30 0.7 1.2Weil Gotshal & Manges LLP9 1.7 1,585 56 18 1.5 0.2Baker & McKenzie 10 1.8 1,756 54 8 1.6 0.2O'Melveny & Myers LLP10 1.6 1,543 54 7 3.0 (1.4)Dechert12 1.8 1,756 52 14 1.7 0.2Morrison & Foerster LLP13 2.0 1,962 49 37 1.0 1.1Simpson Thacher & Bartlett14 3.3 3,217 48 48 1.1 2.3Gibson Dunn & Crutcher15 1.8 1,697 47 11 1.2 0.5Dew ey & LeBoeuf LLP 16 2.3 2,176 43 28 2.8 (0.6)Paul Hastings Janofsky & Walker LLPKirkl<strong>and</strong> & EllisFenw ick & West LLPSidley Austin LLP16 1.1 1,049 43 13 1.6 (0.5)18 2.2 2,106 42 6 2.3 (0.1)19 0.8 757 40 24 1.2 (0.4)20 1.6 1,556 39 16 1.2 0.4TOTAL* $96,225 7,182 $140,040*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 33


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesUNITED STATES ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 6.0 9,111 232 1 4.0 1.9DLA Piper LLP2 2.0 3,093 104 3 3.2 (1.2)Latham & Watkins LLP3 5.5 8,473 93 2 7.7 (2.1)Skadden Arps Slate Meagher & Flom4 71 7.1 10,828 89 8 56 5.6 14 1.4Wilson Sonsini Goodrich & Rosati 4 2.9 4,506 89 6 2.3 0.6Dorsey & Whitney6 0.5 775 65 4 1.3 (0.8)Cooley Godw ard Kronish LLP7 2.6 3,924 64 30 1.3 1.3O'Melveny & Myers LLP8 3.2 4,951 63 7 2.8 0.4Weil Gotshal & Manges LLP8 2.6 3,992 63 18 2.2 0.5Morgan Lew is & Bockius 10 1.2 1,816 62 12 1.6 (0.4)Simpson Thacher & Bartlett11 4.4 6,660 58 43 2.0 2.4Baker & McKenzie11 2.2 3,303 58 9 1.5 0.7Dew ey & LeBoeuf LLP13 4.4 6,661 56 22 3.3 1.1Dechert14 1.7 2,613 54 13 1.9 (0.2)Kirkl<strong>and</strong> & Ellis15 3.4 5,222 52 5 3.0 0.4Morrison & Foerster LLP16 1.6 2,472 51 39 0.9 0.8Gibson Dunn & CrutcherPaul Hastings Janofsky & Walker LLPFenw ick & West LLPPaul Weiss Rif kind Wharton & Garrison17 1.5 2,236 49 11 2.9 (1.5)18 0.7 1,049 43 14 1.1 (0.4)19 0.9 1,309 42 28 0.8 0.020 2.3 3,488 41 39 1.3 1.0TOTAL* $152,657 7,341$226,713*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 34


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesCANADA ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEBlake Cassels & Graydon LLP1 15.5 6,454 83 1 13.6 1.9McCarthy Tetrault2 10.9 4,529 64 2 10.2 0.6Fasken Martineau DuMoulin LLP3 8.2 3,442 51 5 5.6 2.6Stikeman Elliott4 7.6 3,179 49 3 10.4 (2.8)Osler Hoskin & Harcourt LLP5 5.3 2,204 33 4 8.6 (3.3)Ogilvy Renault6 3.4 1,439 28 6 1.5 2.0Davies Ward Phillips & Vineberg LLP 7 4.3 1,795 27 9 7.2 (2.9)Cassels Brock & Blackw ell LLP8 4.6 1,934 26 11 5.1 (0.5)Goodmans LLP9 3.8 1,580 20 7 5.3 (1.5)Dorsey & Whitney 9 2.0 849 20 11 5.3 (3.3)Torys11 2.3 945 18 8 7.1 (4.8)Borden Ladner Gervais LLP12 2.6 1,089 13 10 4.1 (1.4)Bennett Jones LLP13 2.2 925 11 13 3.0 (0.8)Jones Day14 1.0 406 10 13 1.5 (0.5)Allen & Overy LLP15 3.3 1,359 9 - - 3.3Skadden Arps Slate Meagher & Flom 16 3.4 1,423 8 36 1.0 2.5Fraser Milner Casgrain LLPShearman & Sterling LLPLatham & Watkins LLPPaul Weiss Rif kind Wharton & GarrisonTOTAL*16 1.1 473 8 20 2.4 (1.3)18 3.2 1,331 7 19 2.4 0.818 1.9 809 7 17 1.4 0.520 2.2 930 6 46 0.4 1.8$38,2141,727$39,519*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced transactions in US$ millions.MA LEAG NI DEALSPACE MARB 35


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Deal Count01/01/09-12/31/0912/31/0920092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 3.3 789 103 6 1.4 1.9CMS2 2.2 527 92 2 2.5 (0.3)Clifford Chance LLP2 0.8 195 92 3 1.6 (0.8)Linklaters LLP4 19 1.9 458 90 5 22 2.2 (0.3)DLA Piper LLP5 1.6 373 89 1 2.4 (0.8)Allen & Overy LLP6 2.2 537 80 4 1.2 1.0Freshfields Bruckhaus Deringer7 1.5 356 75 7 1.4 0.1Cuatrecasas Goncalves Pereira8 1.3 313 49 10 1.4 (0.1)Lovells LLP9 1.2 287 42 21 0.7 0.5White & Case LLPHerbert Smith/Gleiss Lutz/StibbeNorton Rose LLPEvershedsBaker & McKenzieHannes SnellmanUria Menendez Law FirmAdvokatfirman Vinge KBLatham & Watkins LLPHengeler MuellerSlaughter <strong>and</strong> MayTOTAL*10 07 0.7 172 40 9 15 1.5 (0.8)11 1.0 231 37 13 0.7 0.212 1.2 297 32 18 1.0 0.212 0.9 224 32 12 1.1 (0.2)14 0.9 226 31 8 1.3 (0.3)15 0.4 90 29 58 0.2 0.215 0.4 88 29 11 1.1 (0.7)15 0.2 55 29 14 0.6 (0.4)18 0.8 196 28 17 0.6 0.219 0.5 116 27 29 0.1 0.420 1.0 243 23 49 0.6 0.4$22,170 4,954 $42,315*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 36


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Deal Count01/01/09-12/31/0912/31/092009 2008 MARKETMARKET VOLUME DEAL MARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 3.4 3,330 124 6 2.3 1.1Linklaters LLP2 3.5 3,470 115 3 4.2 (0.7)Clifford Chance LLP3 2.6 2,503 108 4 2.7 (0.1)CMS4 16 1.6 1,550 103 1 33 3.3 (1.7)Freshfields Bruckhaus Deringer5 4.2 4,072 101 7 2.5 1.6Allen & Overy LLP5 3.6 3,499 101 5 2.6 1.0DLA Piper LLP7 1.2 1,213 96 2 2.1 (0.8)White & Case LLP8 2.0 1,943 53 9 1.9 0.1Cuatrecasas Goncalves Pereira9 0.5 441 50 10 0.9 (0.5)Lovells LLP10 1.1 1,040 48 22 0.9 0.1Herbert Smith/Gleiss Lutz/Stibbe 11 1.2 1,207 45 11 1.6 (0.4)Latham & Watkins LLP12 1.5 1,508 40 14 1.5 0.0Norton Rose LLP12 1.2 1,210 40 17 1.2 (0.0)Baker & McKenzie14 1.1 1,049 39 8 0.9 0.1Slaughter <strong>and</strong> May15 2.4 2,393 38 42 1.0 1.4Uria Menendez Law Firm16 1.0 1,001 35 12 0.6 0.4EvershedsAdvokatfirman Vinge KBHannes SnellmanSkadden Arps Slate Meagher & FlomTOTAL*16 0.6 620 35 13 0.7 (0.1)18 0.7 641 34 16 1.3 (0.6)19 0.4 414 33 66 0.2 0.220 1.4 1,409 32 30 1.2 0.2$88,817 5,533$171,206*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 37


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 4.1 6,402 132 7 2.1 2.1Linklaters LLP2 4.4 6,870 124 1 5.1 (0.6)Clifford Chance LLP3 4.4 6,728 120 2 4.8 (0.4)Freshfields Bruckhaus Deringer4 5.5 8,547 113 6 4.3 1.3CMS5 2.0 3,044 107 2 2.7 (0.7)Allen & Overy LLP6 3.3 5,164 105 5 3.9 (0.5)DLA Piper LLP7 1.0 1,569 97 4 1.8 (0.7)White & Case LLP8 1.7 2,591 55 9 1.7 (0.0)Cuatrecasas Goncalves Pereira9 0.7 1,125 52 10 1.1 (0.3)Herbert Smith/Gleiss Lutz/Stibbe 10 2.0 3,056 49 11 1.7 0.3Lovells LLP10 0.9 1,415 49 22 0.9 (0.0)Slaughter <strong>and</strong> May12 2.9 4,507 44 45 0.8 2.1Latham & Watkins LLP12 1.7 2,597 44 14 2.2 (0.5)Norton Rose LLP14 1.5 2,302 43 17 1.3 0.2Baker & McKenzie15 1.3 2,081 42 8 1.6 (0.3)Uria Menendez Law Firm16 1.1 1,724 37 11 1.2 (0.1)Skadden Arps Slate Meagher & FlomAdvokatfirman Vinge KBEvershedsHannes SnellmanTOTAL*17 1.6 2,464 35 30 1.6 (0.0)17 0.6 994 35 16 1.2 (0.6)17 0.4 620 35 13 1.0 (0.6)20 0.3 414 33 73 0.1 0.1$140,265 5,677$264,453*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 38


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$50 mlnRanked by Volume01/01/09-12/31/0912/31/09FIRMJones DayAllen & Overy LLPCMSLinklaters LLPDLA Piper LLPFreshfields Bruckhaus DeringerCuatrecasas Goncalves PereiraNorton Rose LLPLovells LLPSlaughter <strong>and</strong> MayHerbert Smith/Gleiss Lutz/StibbeBaker & McKenzieEvershedsLatham & Watkins LLPClifford Chance LLPBerw in Leighton PaisnerWeil Gotshal & Manges LLPKim & ChangAZB & PartnersWhite & Case LLPTOTAL*20092008MARKETMARKET VOLUME DEALMARKET SHARERANK SHARE (USD Mln) COUNT RANK SHARE CHANGE1 3.3 789 103 8 1.4 1.92 2.2 537 80 10 1.2 1.03 2.2 527 92 1 2.5 (0.3)4 19 1.9 458 90 3 22 2.2 (0.3)5 1.6 373 89 2 2.4 (0.8)6 1.5 356 75 7 1.4 0.17 1.3 313 49 6 1.4 (0.1)8 1.2 297 32 15 1.0 0.29 1.2 287 42 22 0.7 0.510 10 1.0 243 23 29 06 0.6 04 0.411 1.0 231 37 21 0.7 0.212 0.9 226 31 9 1.3 (0.3)13 0.9 224 32 11 1.1 (0.2)14 0.8 196 28 28 0.6 0.215 0.8 195 92 4 1.6 (0.8)16 0.8 194 17 36 0.4 0.417 0.8 186 21 48 0.3 0.518 0.7 177 18 93 0.1 0.619 0.7 175 9 109 0.1 0.620 0.7 172 40 5 1.5 (0.8)$22,170 4,954 $42,315*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 39


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$250 mlnRanked by Volume01/01/09-12/31/0912/31/0920092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEFreshfields Bruckhaus Deringer1 4.2 4,072 101 5 2.5 1.6Allen & Overy LLP2 3.6 3,499 101 4 2.6 1.0Linklaters LLP3 3.5 3,470 115 1 4.2 (0.7)Jones DayClifford Chance LLPSlaughter <strong>and</strong> MayWhite & Case LLPCMSLatham & Watkins LLPCleary Gottlieb Steen & HamiltonSkadden Arps Slate Meagher & FlomShearman & Sterling LLPDLA Piper LLPNorton Rose LLPHerbert Smith/Gleiss Lutz/StibbeSimpson Thacher & BartlettFasken Martineau DuMoulin LLPBlake Cassels & Graydon LLPBaker & McKenzieChiomenti Studio LegaleTOTAL*4 34 3.4 3,330330 124 6 23 2.3 11 1.15 2.6 2,503 108 3 2.7 (0.1)6 2.4 2,393 38 20 1.0 1.47 2.0 1,943 53 8 1.9 0.18 1.6 1,550 103 2 3.3 (1.7)9 1.5 1,508 40 12 1.5 0.010 1.5 1,491 26 22 1.0 0.611 1.4 1,409 32 16 1.2 0.212 1.3 1,274 23 35 0.7 0.613 1.2 1,213 96 7 2.1 (0.8)14 1.2 1,210 40 15 1.2 (0.0)15 1.2 1,207 45 10 1.6 (0.4)16 1.2 1,203 11 98 0.2 1.117 1.2 1,155 20 63 0.3 0.918 1.1 1,053 14 45 0.5 0.519 1.1 1,049 39 24 0.9 0.120 1.1 1,046 24 17 1.2 (0.2)$88,817 5,533 $171,206*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 40


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesEUROPE ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Volume01/01/09-12/31/092009 2008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEFreshfields Bruckhaus Deringer1 5.5 8,547 113 3 4.3 1.3Linklaters LLP2 4.4 6,870 124 1 5.1 (0.6)Clifford Chance LLP3 4.4 6,728 120 2 4.8 (0.4)Jones Day4 4.1 6,402 132 8 2.1 2.1Allen & Overy LLP5 3.3 5,164 105 4 3.9 (0.5)Slaughter <strong>and</strong> May6 2.9 4,507 44 38 0.8 2.1Herbert Smith/Gleiss Lutz/Stibbe 7 2.0 3,056 49 11 1.7 0.3CMS8 2.0 3,044 107 6 2.7 (0.7)Latham & Watkins LLP9 1.7 2,597 44 7 2.2 (0.5)White & Case LLP10 1.7 2,591 55 10 1.7 (0.0)Cleary Gottlieb Steen & Hamilton 11 1.6 2,538 29 5 3.0 (1.4)Skadden Arps Slate Meagher & Flom 12 1.6 2,464 35 12 1.6 (0.0)Norton Rose LLP13 1.5 2,302 43 21 1.3 0.2Chiomenti Studio Legale14 1.4 2,089 27 16 1.4 (0.0)Debevoise & Plimpton LLP15 1.3 2,084 15 19 1.3 0.0Baker & McKenzie16 1.3 2,081 42 13 1.6 (0.3)Shearman & Sterling LLPSimpson Thacher & BartlettBlake Cassels & Graydon LLPWeil Gotshal & Manges LLPTOTAL*17 1.3 1,980 25 39 0.8 0.518 1.2 1,807 13 60 0.4 0.819 1.2 1,785 16 27 1.1 0.020 1.1 1,775 30 15 1.4 (0.3)$140,265 5,677$264,453*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 41


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesUNITED KINGDOM ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEAL MARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEJones Day1 6.5 3,207 63 4 3.4 3.1DLA Piper LLP2 2.1 1,062 52 1 3.3 (1.1)Clifford Chance LLP3 7.6 3,789 39 6 8.1 (0.5)Slaughter <strong>and</strong> May4 75 7.5 3,740 38 16 24 2.4 52 5.2Allen & Overy LLP4 4.3 2,146 38 5 5.8 (1.4)Linklaters LLP6 5.7 2,837 37 3 6.4 (0.7)Eversheds7 1.3 620 34 2 2.9 (1.6)CMS8 2.7 1,354 33 7 3.0 (0.3)Freshfields Bruckhaus Deringer9 4.7 2,353 31 8 6.3 (1.6)Norton Rose LLP10 1.5 734 21 15 2.0 (0.5)Lovells LLP11 1.7 829 19 26 0.8 0.9Herbert Smith/Gleiss Lutz/Stibbe 12 4.2 2,101 17 21 1.6 2.7Berw in Leighton Paisner12 1.3 639 17 21 1.0 0.3Latham & Watkins LLP14 2.4 1,177 15 18 2.8 (0.4)Fasken Martineau DuMoulin LLP 14 1.5 750 15 38 0.4 1.1Dechert16 1.8 877 14 28 1.0 0.7Skadden Arps Slate Meagher & Flom 16 1.6 809 14 30 1.5 0.1Weil Gotshal & Manges LLP16 1.1 569 14 24 2.0 (0.9)Pinsent Masons16 0.2 74 14 38 0.8 (0.6)Baker & McKenzie20 0.3 163 11 16 1.3 (0.9)TOTAL* $42,859 1,871 $79,567*Includes M ergers, Acquisitions, iti Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 42


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesASIA PACIFIC EX-JAPAN ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/0912/31/09 20092008MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEKim & Chang1 3.1 5,586 88 2 2.6 0.5Freehills2 2.9 5,233 64 1 3.9 (1.1)Baker & McKenzie3 2.6 4,781 62 4 2.8 (0.2)Clayton Utz4 19 1.9 3,517 58 10 15 1.5 04 0.4Minter Ellison5 1.6 2,949 56 8 2.6 (1.0)Mallesons Stephen Jaques6 1.7 3,163 53 5 2.6 (0.9)Lee & Ko7 2.4 4,321 47 11 1.1 1.3Blake Daw son8 1.7 3,186 43 5 1.7 0.1Allens Arthur Robinson9 1.2 2,196 41 3 2.6 (1.4)Bae Kim & Lee10 13 1.3 2,326 38 12 11 1.1 02 0.2Jones Day10 1.3 2,318 38 7 1.5 (0.2)Allen & Gledhill12 1.6 2,847 35 14 2.0 (0.5)Skadden Arps Slate Meagher & Flom 13 2.2 3,922 34 30 0.8 1.3Linklaters LLP13 2.1 3,761 34 12 2.3 (0.3)AZB & Partners13 0.9 1,681 34 18 0.9 0.1Clifford Chance LLP16 0.6 1,072 33 18 1.3 (0.7)Shin & Kim17 1.4 2,521 28 25 0.7 0.7WongPartnership LLP17 1.3 2,400 28 8 2.7 (1.4)Stamford LLC17 0.8 1,424 28 32 0.9 (0.1)Freshfields Bruckhaus Deringer 20 0.5 969 25 17 0.9 (0.4)TOTAL* $176,377 7,049 $187,750*Includes M ergers, Acquisit ions, Divestitures, Self-tenders <strong>and</strong> Spinoff s. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 43


<strong>Bloomberg</strong>Global Mid Market RankingsM&A Legal Advisory League TablesJAPAN ANNOUNCED DEALSDeals Valued Up to US$500 mlnRanked by Deal Count01/01/09-12/31/09 20092008 MARKETMARKET VOLUME DEALMARKET SHAREFIRMRANK SHARE (USD Mln) COUNT RANK SHARE CHANGEMori Hamada & Matsumoto1 16.2 7,911 102 3 9.2 7.0Nishimura & Asahi2 8.8 4,287 70 1 14.7 (5.9)Nagashima Ohno & Tsunematsu3 6.8 3,337 59 2 12.5 (5.6)Anderson Mori & Tomotsune4 58 5.8 2,803 54 10 14 1.4 43 4.3Morrison & Foerster LLP5 4.0 1,967 32 10 0.3 3.8Jones Day6 1.7 821 19 6 1.0 0.7Shearman & Sterling LLP7 4.2 2,027 15 10 2.2 2.0Allen & Overy LLP8 2.0 993 14 15 0.4 1.6Kim & Chang9 0.6 302 12 4 0.4 0.2Baker & McKenzie 10 2.9 1,418 11 8 0.2 2.7Davis Polk & Wardw ell11 3.1 1,534 9 39 0.8 2.3Linklaters LLP12 1.0 508 7 8 1.1 (0.0)Clifford Chance LLP12 0.6 288 7 14 0.4 0.1Paul Hastings Janofsky & Walker LLP 12 0.1 44 7 16 0.6 (0.5)Latham & Watkins LLP15 1.7 841 6 30 1.2 0.5Sullivan & Cromw ell15 1.4 680 6 16 1.5 (0.1)Blake Daw son15 0.9 460 6 20 0.6 0.3Paul Weiss Rifkind Wharton & Garrison 15 0.7 348 6 20 0.3 0.5O'Melveny & Myers LLP15 0.4 180 6 20 0.5 (0.2)Skadden Arps Slate Meagher & Flom 20 2.4 1,146 5 6 1.8 0.6TOTAL* $45,938 2,191 $47,265*Includes Mergers, Acquisitions, ions Divestitures, Self-tenders <strong>and</strong> Spinoffs. Excludes Open market Repurchases. Volume in US$ millions.* Total Volume represents all announced t ransact ions in US$ millions.MA LEAG NI DEALSPACE MARB 44

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