Not one to mince words, KPS Capital's Michael Psaros offers a ...

51-70_Data.qxd 1/12/09 5:46 PM Page 68DivestituresCompleted Divestitures1999 to 2008Completed Divestitures1999 to 2008No. of % of All Value % ofYear Deals Deals ($bil) Total ValueNo. ofDeals3000Value($bil)6001999 2,752 29.8 290.3 20.42000 2,572 28.8 373.0 20.92001 2,387 37.3 253.4 21.92002 2,172 38.4 309.5 49.42003 2,413 38.6 213.4 40.12004 2,477 33.9 283.3 32.72005 2,726 33.2 325.9 32.22006 2,874 31.7 439.8 30.72007 2,778 29.3 555.8 30.82008 2,319 30.4 277.2 27.925002000150010005000No of DealsValue ($bil)1999 2000 2001 2002 2003 2004 2005 2006 2007 2008500400300200100010 Most Active Divesting Industries in 2008By Number of DealsBreakdown of Values in Divestitures2008 vs. 2007No. of ValueIndustry* Deals ($bil)2008 2007Business Services 269 13.6Prepackaged Software 125 10.2Oil and Gas; Petroleum Refining 119 27.2Real Estate; Mortgage Bankers andBrokers 109 31.8Electronic and Electrical Equipment 86 6.5Measuring, Medical, Photo Equipment;Clocks 78 10.0Electric, Gas, and Water Distribution 78 24.5Drugs 73 4.0Insurance 73 9.1Machinery 70 1.9% of % ofPrice No. of Value Total No. of Value Total($mil) Deals ($bil) Value Deals ($bil) Value$10.0 - 15.0 66 0.8 0.3 79 0.9 0.215.1 - 25.0 101 1.9 0.7 99 1.9 0.325.1 - 50.0 147 5.3 1.9 156 5.5 1.050.1 - 99.9 138 9.8 3.5 183 12.9 2.3100+ 384 259.4 93.6 620 534.6 96.2Data are based on deals with disclosed purchase prices*Industries are determined by the target companies68 MERGERS & ACQUISITIONS February 2009