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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$10.0 - 15.0 66 0.8 0.3 79 0.9 0.215.1 - 25.0 101 1.9 0.7 99 1.9 0.325.1 - 50.0 147 5.3 1.9 156 5.5 1.050.1 - 99.9 138 9.8 3.5 183 12.9 2.3100+ 384 259.4 93.6 620 534.6 96.2Data are based on deals with disclosed purchase prices*Industries are determined by the target companies68 MERGERS & ACQUISITIONS February 2009
51-70_Data.qxd 1/12/09 5:47 PM Page 69DivestituresTop 25 Divestitures — 2008TargetPriceAcquirer Target Adviser(s) ($bil)ConocoPhillips Co Origin Energy-Coal Seam Gas Grant Samuel & Associates Pty, 7.9Macquarie BankClearwire Corp Sprint Nextel Corp-Wireless Citi, Lehman Brothers 7.4Life Technologies Corp Applied Biosystems Group Morgan Stanley, Greenhill & Co, LLC 6.7Investor Group MidCon Corp Lehman Brothers 6.6Activision Blizzard Inc Vivendi Universal Games Inc Goldman Sachs & Co 6.5International Paper Co Weyerhaeuser-Containerboard Morgan Stanley 6.0Henkel AG & Co KGaA Natl Starch & Chem Co-Adhesive Morgan Stanley 5.5Goldman Sachs Group Inc LEG Metzler Corporation 5.3Nordic Capital AB ConvaTec Ltd Citi, Morgan Stanley 4.1Boston Properties Inc General Motors Building,NY Citi 3.9Weather Channel Interactive Weather Channel Interactive JP Morgan, Lehman Brothers 3.5JM Smucker Co Folgers Coffee Co Morgan Stanley, Blackstone Group LP 3.3PPG Industries Inc SigmaKalon Group BV UBS Investment Bank, HSBC Holdings PLC 3.0TransCanada Corp National Grid PLC-Ravenswood Merrill Lynch 2.8Ospraie Management LLC ConAgra Trade Group Centerview Partners LLC, UBS Investment Bank 2.8Rank Group Ltd Alcoa Inc-Packaging & Consumer Lehman Brothers 2.7FairPoint Communications Inc Verizon Commun Inc-Wireline Merrill Lynch 2.7Ralcorp Holdings Inc Post Cereal Centerview Partners LLC, Blackstone Group LP, 2.7Goldman Sachs & CoSABMiller PLC Molson Coors Brewing Co-US & Morgan Stanley, Deutsche Bank AG 2.6Carlyle Group LLC Booz Allen Hamilton-Government Credit Suisse Group, Houlihan Lokey Howard & Zukin 2.5ACE Ltd Combined Ins Co of America Credit Suisse Group, Merrill Lynch, Aon Capital Markets 2.4General Dynamics Corp Jet Aviation International SA Morgan Stanley 2.2Eaton Corp Moeller Holding GmbH & Co KG UBS Investment Bank 2.2Best Buy Co Inc Carphone Warehouse Group PLC- Credit Suisse Group 2.2JPMorgan Chase & Co Washington-Cert Bkg Asts Goldman Sachs & Co 1.9February 2009 MERGERS & ACQUISITIONS 69
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Not one to mince words, KPS Capital's Michael Psaros offers a ...

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