global financial advisory m&a rankings - bloomberg (q1 2012)

We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate re

MERGERS & ACQUISITIONS RANKINGS Q1 2012

For data submissions or queries, please contact:

General M&A queries may be submitted to: m-a@bloomberg.net

For 24 hour global customer support call+1 212 318 2000 +44 20 7330 7500 +65 6212 1000 +81 3 3201 8900

or press the HELP key twice on the BLOOMBERG PROFESSIONAL(R) service

PhoneContact

+1-212-617-3692 +1-917-369-3965 mtrindade1@bloomberg.netMariana Trindade

North America

leglite@bloomberg.net+44-20-7392-6672

+44-20-7073-3891Liga Eglite

EMEA

hcho18@bloomberg.net+82-2-3704-1827

+82-2-3702-1627Hyejin Cho

Asia PacificLATAM Fernando Simon +55-11-3048-4619 +55-11-3048-4669 fsimon5@bloomberg.net

The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors.The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of

recapitalizations according to Bloomberg standards

Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and DealSpace & DealBrief newsletters provide summary highlights of weekly M&A activity and top deal trends

Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results Type MA <GO> 96 <GO> 82 <GO> to view live rankings

Mergers & Acquisitions Financial Advisory Rankings

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of 26% in value from the same period last year, while global deal count fell by more than 2%

 Swiss firms were the most acquisitive they have been in at least a decade, powered by Glencore’s $45

billion all-stock offer for Xstrata, Glencore’s $7.5 billion cash offer for Viterra, and Roche Holding’s $5.4

billion cash bid for Illumina

 Acquisitions in India reached a 5-year high with $19 billion worth of transactions announced, representing

a year-over-year increase of 28%, led by Sesa Goa’s all-stock offer for Sterlite Industries India for $6.8 billion,

which is the 4th largest transaction of all time in that country

Industry Sector Deal Activity

 The most actively targeted industries in terms of deal value were Diversified Minerals, Oil Exploration &

Production, and Transport Services, with a total combined volume of over $95 billion, representing over 21%

of all global volume by dollar

 Private equity acquisitions in Q1 2012 fell by more than 40% in terms of aggregate value compared to the

same period last year, while average premiums jumped from 16.5% to 28% year-over-year

 The Basic Materials and Technology sectors both experienced transaction value growth in excess of 60%,

while the Industrials sector remained essentially unchanged, and every remaining sector experienced a drop

in aggregate value of 18% or more

Heat Map: Q1 2012 Volume by Region

Diversified 1%

Utilities 5% Technology 5%

Communications 7%

Consumer, Cyclical 9%

Industrial 13%

Consumer, cyclical 12%

Non-Financial 13%

Energy 15%

Basic Materials 20%

Global M&A Quarterly Volume

 This quarter's aggregate announced deal volume of $441 Bln represents a 26% decline from last year's comparable period The current slowdown in making activity, already signaled in the second half of 2010, makes this the weakest first quarter since 2003.

deal- The Americas saw the sharpest decline in transaction volume, a 36% drop compared to the same period last year, followed by APAC with a 22% decrease

EMEA M&A Quarterly Volume

Americas M&A Quarterly Volume

APAC M&A Quarterly Volume

0 500 1000 1500 2000 2500 3000 3500

Volume Deal Count

0 200000 400000 600000 800000 1000000 1200000 1400000 1600000

2009 Q1

2010 Q1

2011 Q1

2012 Q1

Volume Deal Count

0 100000 200000 300000 400000 500000 600000 700000 800000

0 500 1000 1500 2000 2500 3000 3500 4000 4500

2007 Q1

2008 Q1

2009 Q1

2010 Q1

2011 Q1

2012 Q1

Volume Deal Count

0 100000 200000 300000 400000 500000 600000 700000 800000 900000

Q1 2012 Global M&A Aggregate Statistics

Public Tar get Multiples # Deals Min - Max Median Deal Type Sum m ar y # Deals Volum e Per cent

Paym ent Type Sum m ar y # Deals Volum e Per cent Pr em ium s Paid # Deals Volum e Per cent

Bldg-Residential/Commer

Medical-Biomedical

Transport-Services Oil Comp - E&P

Metal-Diversified Medical-Drugs Oil Comp - E&P Investment Companies

Private Equity

TOP TARGETS TOP TARGETS

TOP ACQUIRERS TOP ACQUIRERS

Most Acquisitive Company

TOP TARGETS TOP TARGETS

TOP ACQUIRERS TOP ACQUIRERS

U.K

GermanyU.K

FranceU.S

Switzerland

Investment CompaniesElectric-IntegratedDiversified OperationsPrivate EquityMetal-Diversified

TOP TARGETS TOP TARGETS

TOP ACQUIRERS TOP ACQUIRERS

Metal-Copper Steel-Speciality

Coal Oil Comp-Explor&Prodtn

Diversified Operations Import/Export Investment Companies Steel-Producers Diversified Minerals

U.S.

Japan India China

Malaysia South Korea India Japan China

Americas

19.23%

Asia-Pacific ex-Japan

DEAL COUNT

20

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q1

/

QUARTERLY VOLUME

USD (Mln) #Deals

M&A League Tables by Industry

01/01/12 03/31/12

USD (Mln)Global Announced Deals - Basic Materials

MKT SHARE

RANKFIRM

03/31/12

Global Announced Deals - Industrial

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

Q120

Q220

Q320

Q420

M&A Financial Advisory League Tables

*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs Excludes Open Market Transactions.

*Total Volume represents all announced transactions in US$ millions.

TOTAL

For 24 hour global customer support call+1 212 318 2000 +44 20 7330 7500 +65 6212 1000 +81 3 3201 8900

or press the HELP key twice on the BLOOMBERG PROFESSIONAL(R) service

For data submissions or queries,

Bloomberg LP and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities

Mergers & Acquisitions Financial Advisory Rankings Bloomberg 2012 1st Qtr