Bloomberg M&a 2011 Q1

GLOBAL FINANCIAL ADVISORY
MERGERS & ACQUISITIONS RANKINGS Q1 2011

04/01/2011
Bloomberg
Bloomberg 2011 1st Qtr
Table of Contents
Mergers & Acquisitions Financial Advisory Rankings
1 . Introduction
2. Global Market Commentary The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables
8. Global M&A Activity represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors.The
9. Global Announced Deals rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures,
10. Cross Border Announced Deals private placements of common equity and convertible securities, and the cash injection component of
11. Global Private Equity Announced Deals recapitalizations according to Bloomberg standards.
12. M&A League Tables By Industry
Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a
38. Disclaimer
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.
For data submissions or queries, please contact:
Contact Phone Fax Email
North America Mariana Trindade +1-212-617-3692 +1-917-369-3965 mtrindade1@bloomberg.net

EMEA Roberto Ferreira +44-20-7330-7115 +44-20-7392-6672 rferreira2@bloomberg.net
Asia Pacific Shima Furukawa +81-3-3201-3952 +81-3-3201-7228 sfurukawa2@bloomberg.net
LATAM Fernanda Pedreira +55-11-4502-1830 +55-11-4502-1880 fpedreira2@bloomberg.net

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.
MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO>
1
Bloomberg Global Review
Regional Deal Activity Total Volume by Industry (Q1 2011)
 Global M&A activity was dominated by US-based firms, who announced over $352 billion worth of
transactions and accounted for over half of all global volume.
 In terms of capital flow, non cross-border transactions made up over 49% of total volume in the US, Diversified
followed by the Latin American & Caribbean region at more than 44%. The Middle East & Africa and Asia 1%
Financial
Pacific regions experienced the highest volumes of capital outflow at 6% and 31% respectively. Technology
18%
 This quarter’s largest transaction, AT&T’s purchase of T-Mobile USA from Deutsche Telekom for $39 billion 2%
Energy
in cash and stock is the largest announced transaction since Exxon Mobil’s all-stock purchase of XTO Energy 15%
for $41 billion in December 2009. Industrial
10%
Industry Sector Deal Activity

 The most actively targeted industries in terms of volume were Cellular-Telecom, Electric-Integrated, and Comm. Utilities
Oil Comp-Exploration & Production companies with a total combined volume of over $104 billion, 15% 8%
representing over 17% of all global volume.
Consumer, Cyclical
 Private equity firms in Q1 have announced deals with an aggregate volume in excess of $80 billion, Consumer, Non-
10%
representing a two-and-a-half fold increase from the same period last year. Average premiums have cyclical
decreased from 23.74% to 13.1%. 12% Basic Materials
9%
 Public company takeovers have surged by more than 77% this quarter compared to the same time period
last year, as total volume has reached its highest levels since Q3 2008.
Heat Map: Q1 2011 Volume by Region
North America 54%
Western Europe 19%
Asia Pacific 18%
Eastern Europe 4%
South/Central America 3%
Middle East/Africa 2%
* All Q1 2011 numbers as of March 31, 2011.
MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

2
Notable Highlights
 Deal count in Q1 2011 decreased more than 7% as compared to first quarter of 2010 and dropped more than 13% when compared to activity in Q4 2010. Despite
the decrease in deal count, total deal volume surged 23.4% from last year’s comparable period.
 EMEA and the Americas experienced a significant increase in volume this quarter compared to Q1 20110, while APAC slightly increased by 7.87%.
Global M&A Quarterly Volume Americas M&A Quarterly Volume
10000 1600000 4500 800000
9000 Volume 4000

Volume
1400000 700000
8000 Deal Count Deal Count
3500
Total Volume (USD Mln)

1200000 600000
7000
3000
1000000 500000
Deal Count
Deal Count
6000
2500
5000 800000 400000
2000
4000
600000 300000
1500
3000
400000 200000
1000
2000
200000 500 100000
1000
0 0 0 0
2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1
EMEA M&A Quarterly Volume APAC M&A Quarterly Volume

4000 900000 3500 300000
Volume
Volume
3500 800000
3000 Deal Count
Deal Count 250000
700000
3000

2500
600000 200000
2500
Deal Count
Deal Count
500000 2000
2000 150000
400000 1500
1500
300000 100000
1000
1000
200000
50000
500 500
100000
0 0 0 0
2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1
*All Total Value figures in USD millions.

3
Notable Highlights
 The majority of M&A transactions occurred in the mid-market range (below $500 million in size) and only three deals reached the mega-deal category (over $10
billion in size). Cross border activity accounted for over 52% of M&A volume, a 35% increase from the the same period in 2010.
 Cash continued to be the most dominant form of payment, accounting for 59% of M&A deals announced this past quarter, while 19% percent of all deals were
comprised of all-stock payments. Cash & stock deals accounted for a little more than 13% of total volume this quarter, representing a 70% increase year over year.
Q1 2011 Global M&A Aggregate Statistics
Public Tar get Multiples # Deals Min - Max Median Deal Type Sum m ar y # Deals Volum e Per cent
Total Assets 474 .00 - 152.64 0.96 Company Takeover 2659 355.87B 60.56
Stockholder Eqty 456 .00 - 516.98 1.94 Cross Border 2256 307.54B 52.33
Book Value 450 .00 - 516.98 2 Asset sale 1384 105.54B 17.96
Revenue 448 .00 - 1065.16 1.46 Minority purchase 912 63.83B 10.86
Market Cap 391 .00 - 13.71 1.17 Private Equity 824 80.83B 13.75
Enterprise Value 379 .00 - 115.41 1.15 Additional Stake Purchase 769 70.01B 11.91
Net Income + Deprec 357 .00 - 1600.00 12.75 Majority purchase 525 40.09B 6.82
EBIT 312 .01 - 3173.31 12.9 Venture Capital 341 6.55B 1.11
Cashflow from Ops. 305 .01 - 3595.74 11.97 Joint Venture 325 4.73B 0.80
Net Income 307 .01 - 1887.24 19.86 Private Placement 137 10.16B 1.73
EBITDA 297 .00 - 282.99 9.08 Tender Offer 97 44.83B 7.63
Income B/F XO 269 .01 - 1887.24 19.09 Spin-off 69 4.03B 0.69
Free Cashflow 232 .01 - 1540.61 20.56 Option Agreement 56 4.33B 0.74
Paym ent Type Sum m ar y # Deals Volum e Per cent Pr em ium s Paid # Deals Volum e Per cent
Cash 3560 338.67B 59.0 0-10% 3225 170.63B 56.5
Undisclosed 1517 33.52B 5.8 10.01-25% 46 51.44B 17.0
Stock 281 109.63B 19.1 25.01-50% 74 65.8B 21.8
Cash & Stock 215 76.87B 13.4 50.01-75% 31 11.36B 3.8
Cash or Stock 14 8.68B 1.5 >100% 6 1.33B 0.4
Cash, Stock & Debt 14 2.49B 0.4
Stock & Debt 8 264.34M 0.1 Cur r ent Status # Deals Volum e Per cent
Completed 3340 90.47B 14.9
Deal Size Br eak dow n # Deals Volum e Per cent Pending 2694 497.21B 82.0
0-500M 5840 146.23B 96.8 Terminated 20 18.39B 3.0
500.01-1000M 92 65.98B 1.5
1000.01-5000M 83 176.13B 1.4 Cur r ent Pr em ium # Deals Volum e Per cent
5000.01-10,000M 16 118.33B 0.3 0-10% 6000 570.77B 97.1
> 10,000M 3 81.01B 0.1 10.01-25% 21 10.6B 1.8

4
Americas Notable Highlights
Summary Announce Date Target Name Acquirer Name Total Value (mil.)
Number of Dea l s 3095 3/20/2011 T-Mobile USA Inc AT&T Inc $39,000.0
Vol ume 397.11B 1/10/2011 Progress Energy Inc Duke Energy Corp $25,531.0
1/31/2011 ProLogis AMB Property Corp $16,475.3
Avera ge Dea l Si ze 297.91M
2/15/2011 NYSE Euronext Deutsche Boerse AG $9,532.3
Avera ge Premi um 25.27%
3/1/2011 Shopping Centers In US Blackstone Group LP $9,400.0
Most Acquisitive Company 3/14/2011 Lubrizol Corp Berkshire Hathaway Inc $9,217.6
Acqui rer GENERAL ELECTRIC CO 2/7/2011 Pride International Inc Ensco PLC $8,466.0
Number of Dea l s 18 1/29/2011 Massey Energy Co Alpha Natural Resources Inc $8,276.8
Vol ume 7.03B 1/18/2011 Mosaic Co/The Private Investor $8,074.8
Avera ge Dea l Si ze 390.80M 2/15/2011 Family Dollar Stores Inc Trian Fund Management LP $7,709.6
INDUSTRY COUNTRY
TOP ACQUIRERS TOP ACQUIRERS
Telephone-Integrated $47.43 US $295.62
Electric-Integrated $36.36 UK $19.83

Private Equity $32.18 Canada $13.70
REITS-Warehouse/Industr $16.66
Australia $11.08
Diversified Manufact Op $16.40
Brazil $10.68
TOP TARGETS TOP TARGETS

Cellular Telecom $45.73
US $269.58
Electric-Integrated $27.11
Canada $34.35
Oil Comp-Explor&Prodtn $17.19
UK $21.19
REITS-Warehouse/Industr $16.48
Brazil $16.44
Finance-Other Services $12.70
Germany $6.99
$- $10 $20 $30 $40 $50
$- $50 $100 $150 $200 $250 $300 $350
. Total Volume (USD Bln) Total Volume (USD Bln)


5
EMEA Notable Highlights
Number of Dea l s 1996 3/20/2011 T-Mobile USA AT&T $39,000.0
Vol ume 255.45B 2/15/2011 NYSE Euronext Deutsche Boerse $9,532.3
2/7/2011 Pride International Ensco PLC $8,466.0
2/21/2011 India Assets BP PLC $7,200.0
2/16/2011 Cia Espanola de Petroleos International Petroleum $7,007.0
Most Acquisitive Company 1/9/2011 Danisco EI du Pont de Nemours $6,823.1
Acqui rer PUBLICIS GROUPE 3/1/2011 E.ON AG Assets PPL Corp $6,510.0
Number of Dea l s 7 3/9/2011 Tognum AG Daimler / Rolls-Royce Group $4,547.5
Vol ume 23.63M 3/21/2011 Kabel BW Erste Beteiligungs Liberty Global $4,494.8
Avera ge Dea l Si ze 3.38M 3/2/2011 NovaTek OAO Total SA $4,236.6
INDUSTRY COUNTRY
Telephone-Integrated $40.75 US $92.59
Investment Companies $22.20 UK $49.49
Oil Comp-Integrated $19.25 France $25.49
Private Equity $14.85 Germany $19.34
Diversified Operations $14.53 Spain $9.36

Cellular Telecom $41.74 US $73.54
Oil Comp-Integrated $15.42 UK $38.32
Finance-Other Services $13.15 Spain $19.39
Oil Comp-Explor&Prodtn $10.12 Germany $14.90
Electric Distribution $9.08 France $14.76
$- $10 $20 $30 $40 $50 $- $20 $40 $60 $80 $100


6
APAC Notable Highlights
Number of Dea l s 2216 3/1/2011 Shopping Centers In US Blackstone Group LP $9,400.0
Vol ume 158.80B 2/21/2011 India Assets BP PLC $7,200.0
2/24/2011 PTT Aromatics & Refining PCL PTT Chemical PCL $5,506.0
2/9/2011 Cutbank Ridge Business Assets PetroChina Co Ltd $5,433.7
2/28/2011 Lundin Mining Corp Equinox Minerals Ltd $4,757.0
Most Acquisitive Company 2/22/2011 Fayetteville Shale Assets BHP Billiton Ltd $4,750.0
Acqui rer MITSUI & CO 3/7/2011 Hitachi Global Strorage Tech. Western Digital Corp $4,250.0
Number of Dea l s 11 2/21/2011 Seven Media Group/The West Australian Newspapers $4,120.5
Vol ume 1.21B 3/4/2011 Hyundai Engineering & Constrctn. Hyundai Motor Co $2,661.8
Avera ge Dea l Si ze 109.99M 3/7/2011 CaridianBCT Holding Corp Terumo Corp $2,625.0
INDUSTRY COUNTRY
Oil Comp-Integrated $14.15 China $31.32
Private Equity $13.59 Japan $24.69
Investment Companies $9.27 U.S. $23.99
Real Estate Oper/Develop $8.04 Australia $18.97
Diversified Operations $7.82 South Korea $10.04
Oil Comp-Explor&Prodtn $13.66 U.S. $23.49
REITS-Shopping Centers $10.79 China $23.16
Real Estate Oper/Develop $7.86 Japan $20.29
Oil Comp-Integrated $7.59 Australia $13.23
Electric Products-Misc $5.98 India $13.03
$- $2 $4 $6 $8 $10 $12 $14 $16 $- $10 $20 $30 $40


7
Bloomberg
Global M&A Activity Regional Breakdown by Target Region/Country
Regional Breakdown by Target Region/Country

1/1/11 - 3/31/11 2011 2010
VOLUME DEAL VOLUME DEAL VOLUME Asia-Pacific

FIRM ex-Japan
USD (Mln) COUNT USD (Mln) COUNT CHANGE
15.06%
Americas $324,759 2,539 $279,839 2,764 16.05%
Americas
Latin America $20,756 165 $76,413 235 -72.84% 55.36%
North America $306,286 2,390 $244,776 2,557 25.13%
Canada $34,260 326 $11,783 359 190.77%
United States $269,304 2,035 $189,935 2,153 41.79%
EMEA
EMEA $153,233 1,486 $101,063 1,627 51.62% 26.12%
Eastern Europe $20,822 154 $7,029 167 196.22%
Japan
Western Europe $118,934 1,182 $67,734 1,272 75.59% 3.46%
UK $38,318 371 $20,882 479 83.49%
Germany $14,895 162 $12,092 154 23.18%
France $14,759 201 $10,498 125 40.60%
Asia-Pacific ex-Japan $88,343 1,511 $80,442 1,588 9.82% QUARTERLY VOLUME
Australia $13,227 165 $10,479 202 26.23% USD (Mln) / #Deals
New Zealand $50 14 $1,894 30 -97.35% $1,400,000 10,000
China $23,171 622 $28,920 578 -19.88% $1,200,000

8,000
Hong Kong $6,103 124 $7,945 128 -23.18%
$1,000,000
South East Asia $18,776 236 $16,872 303 11.28%
6,000
$800,000
India $13,027 122 $5,593 164 132.91%
Japan $20,292 380 $24,434 501 -16.95% $600,000
4,000
Global $587,680 6,035 $488,881 6,548 20.21%
$400,000
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions. 2,000
$200,000
$0 0
1
Q
Q
07
07
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8
Bloomberg
M&A Financial Advisory League Tables
Global Announced Deals

Ranked by Volume
1/1/11 - 3/31/11 2011 2010 MKT
RANK MKT VOLUME DEAL RANK MKT SHARE
FIRM
SHARE USD (Mln) COUNT SHARE CHANGE
JP Morgan 1 28.0 164,627 71 9 8.6 19.4

Morgan Stanley 2 24.9 146,540 78 6 14.1 10.8
Goldman Sachs & Co 3 22.5 132,278 87 1 23.2 (0.7)
QUARTERLY VOLUME
Credit Suisse Group AG 4 18.8 110,348 60 4 18.1 0.7
USD (Mln) / #Deals
Deutsche Bank AG 5 17.9 104,915 55 7 13.2 4.7
$1,800,000 10,000
Citigroup Inc 6 16.6 97,377 46 3 19.4 (2.8)
$1,600,000
Bank of America Merrill Lynch 7 13.8 80,818 66 8 12.4 1.4 8,000
$1,400,000
Barclays Capital Group 8 12.7 74,518 27 2 20.9 (8.2)
$1,200,000
Lazard Ltd 9 11.2 66,044 30 11 6.7 4.5 6,000
$1,000,000
UBS AG 10 10.2 59,848 47 5 17.0 (6.8) $800,000
4,000
Evercore Partners Inc 11 9.5 56,082 8 33 1.3 8.2 $600,000
Greenhill & Co Inc 12 6.9 40,444 5 19 3.4 3.5 $400,000 2,000
Perella Weinberg Partners LP 13 5.1 29,820 8 28 1.7 3.4 $200,000
Rothschild 14 4.8 28,402 41 13 6.5 (1.7) $0 0
1
Q
Q
RBC Capital Markets 15 3.4 19,846 26 30 1.6 1.8
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Jefferies Group Inc 16 2.8 16,278 33 41 0.9 1.9
HSBC Bank PLC 17 2.6 15,292 17 10 6.9 (4.3)
Wells Fargo & Co 18 2.4 14,074 8 84 0.2 2.2
Nomura Holdings Inc 19 2.3 13,474 46 20 2.8 (0.5)
Societe Generale 20 2.3 13,232 12 44 0.8 1.5
TOTAL $587,680 6,035 $488,881
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
*Total Volume represents all announced transactions in US$ millions.

9
Bloomberg
Cross Border Announced Deals

Ranked by Volume
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
JP Morgan 1 31.6 97,289 46 4 15.2 16.4

Deutsche Bank AG 2 30.4 93,580 37 5 15.0 15.4
Morgan Stanley 3 28.5 87,536 38 7 12.9 15.6
QUARTERLY VOLUME
Goldman Sachs & Co 4 28.4 87,356 52 2 22.5 5.9
USD (Mln) / #Deals
$1,000,000 4,000
Citigroup Inc 6 20.9 64,405 23 8 12.5 8.4
3,500
Evercore Partners Inc 7 14.8 45,471 4 - - 14.8 $800,000
3,000
Greenhill & Co Inc 8 13.2 40,444 5 44 0.7 12.5
2,500
Bank of America Merrill Lynch 9 11.4 35,071 36 9 12.1 (0.7) $600,000
2,000
$400,000
UBS AG 11 7.3 22,348 23 1 25.6 (18.3) 1,500
Rothschild 12 5.9 17,996 30 11 9.4 (3.5) 1,000

$200,000
Lazard Ltd 13 4.5 13,699 12 17 4.6 (0.1) 500
Jefferies Group Inc 14 4.4 13,546 17 30 1.4 3.0 $0 0
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07
07
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20
BNP Paribas 17 4.0 12,226 9 13 6.5 (2.5)
Moelis & Co 18 3.7 11,400 3 - - 3.7
BMO Capital Markets Corp 19 3.6 11,132 10 31 1.3 2.3
Scotia Capital Inc 20 3.3 10,137 3 19 3.7 (0.4)
TOTAL $307,539 2,256 $226,742

10
Bloomberg
Global Private Equity Announced Deals

Ranked by Volume
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Deutsche Bank AG 1 24.5 19,767 9 5 16.3 8.2

Goldman Sachs & Co 2 24.2 19,585 16 2 21.4 2.8
JP Morgan 3 23.6 19,057 18 17 3.9 19.7
QUARTERLY VOLUME
UBS AG 4 20.7 16,725 13 6 13.3 7.4
USD (Mln) / #Deals
$500,000 1,000
Bank of America Merrill Lynch 6 16.1 12,980 17 4 18.5 (2.4)
Credit Suisse Group AG 7 14.0 11,351 14 8 11.4 2.6 $400,000 800
Morgan Stanley 8 12.9 10,405 15 3 18.9 (6.0)
Moelis & Co 9 12.5 10,118 4 18 3.9 8.6 $300,000 600
Wells Fargo & Co 10 12.0 9,701 4 35 1.0 11.0

$200,000 400
Lazard Ltd 11 11.7 9,468 5 52 0.1 11.6
Rothschild 12 8.3 6,674 16 10 9.8 (1.5)
$100,000 200
Citigroup Inc 13 6.8 5,476 10 11 8.1 (1.3)
Royal Bank of Scotland Group PLC 14 6.6 5,370 4 28 1.6 5.0 $0 0
1
Q
Q
HSBC Bank PLC 15 6.3 5,110 5 15 4.8 1.5
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
RBC Capital Markets 16 5.8 4,677 4 7 11.8 (6.0)
Mizuho Financial Group Inc 17 5.6 4,519 2 - - 5.6
Evercore Partners Inc 18 3.3 2,625 2 14 4.9 (1.6)
TOTAL $80,832 824 $42,346

11
Bloomberg
M&A League Tables by Industry

Global Announced Deals - Financial Global Announced Deals - Communications
01/01/11 - 03/31/11 2011 01/01/11 - 03/31/11 2011
RANK MKT VOLUME DEAL RANK MKT VOLUME DEAL
FIRM FIRM
SHARE USD (Mln) COUNT SHARE USD (Mln) COUNT
JP Morgan 1 42.5 45,657 11 Deutsche Bank AG 1 53.3 46,090 7
Morgan Stanley 2 36.7 39,402 17 Credit Suisse Group AG 2 52.8 45,631 4
Goldman Sachs & Co 3 24.6 26,431 16 JP Morgan 3 51.2 44,268 5
Deutsche Bank AG 4 20.8 22,329 10 Morgan Stanley 4 49.9 43,143 7
Lazard Ltd 5 16.2 17,409 5 Citigroup Inc 5 46.2 39,950 2
Barclays Capital Group 6 13.8 14,844 6 Evercore Partners Inc 6 45.1 39,000 1
UBS AG 7 12.1 12,990 9 Greenhill & Co Inc 6 45.1 39,000 1
Credit Suisse Group AG 8 11.1 11,918 7 Goldman Sachs & Co 8 23.2 20,088 11
Societe Generale 9 9.0 9,719 3 Lazard Ltd 9 8.4 7,299 4
Perella Weinberg Partners LP 10 8.9 9,587 2 Barclays Capital Group 10 8.0 6,892 3
TOTAL $107,480 835 TOTAL $86,506 732
Global Announced Deals - Energy Global Announced Deals - Consumer, Non-cyclical

01/01/11 - 03/31/11 2011 01/01/11 - 03/31/11 2011
RANK MKT VOLUME DEAL RANK MKT VOLUME DEAL
FIRM FIRM
SHARE USD (Mln) COUNT SHARE USD (Mln) COUNT
Goldman Sachs & Co 1 30.4 26,002 11 Goldman Sachs & Co 1 36.0 24,733 14
Citigroup Inc 2 29.2 25,051 7 Morgan Stanley 2 24.0 16,488 17
Morgan Stanley 3 23.2 19,847 6 JP Morgan 3 19.8 13,607 16
UBS AG 4 17.8 15,268 6 Bank of America Merrill Lynch 4 16.4 11,277 18
Jefferies Group Inc 5 14.2 12,137 7 Deutsche Bank AG 5 15.5 10,614 6
Deutsche Bank AG 6 13.6 11,653 7 UBS AG 6 14.3 9,791 7
Barclays Capital Group 7 13.1 11,188 3 Citigroup Inc 7 10.1 6,921 12
Credit Suisse Group AG 8 11.2 9,579 8 Nordea Bank AB 8 10.0 6,848 2
Perella Weinberg Partners LP 9 9.8 8,357 2 Rothschild 9 8.4 5,750 12
RBC Capital Markets 10 7.6 6,497 9 HSBC Bank PLC 10 7.9 5,420 3
TOTAL $85,667 380 TOTAL $68,689 1,164

3
Bloomberg
United States Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
JP Morgan 1 42.4 149,324 46 11 8.3 34.1

Morgan Stanley 2 33.0 116,158 38 7 17.3 15.7
Deutsche Bank AG 3 26.5 93,197 32 5 17.6 8.9
QUARTERLY VOLUME
Citigroup Inc 4 25.9 91,128 30 4 18.5 7.4
USD (Mln) / #Deals
$1,000,000 3,500
Goldman Sachs & Co 6 22.9 80,502 55 1 43.6 (20.7)
3,000
Barclays Capital Group 7 18.7 65,960 23 2 35.8 (17.1) $800,000
Lazard Ltd 9 16.0 56,158 15 10 10.1 5.9 $600,000

2,000
Evercore Partners Inc 10 15.2 53,436 7 26 1.8 13.4

1,500
$400,000
UBS AG 11 12.7 44,712 30 3 25.2 (12.5)
1,000
Greenhill & Co Inc 12 11.2 39,339 2 16 5.9 5.3
$200,000
Perella Weinberg Partners LP 13 8.4 29,495 6 17 3.5 4.9 500
Rothschild 14 4.5 15,984 16 22 2.9 1.6 $0 0
1
Q
Q
Wells Fargo & Co 15 4.0 14,074 8 42 0.4 3.6
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20
20
BNP Paribas 16 3.4 11,803 5 129 0.0 3.4
Societe Generale 17 3.1 11,003 3 - - 3.1
Moelis & Co 18 3.0 10,393 7 29 0.9 2.1
TOTAL $351,969 2,629 $224,845

13
Bloomberg
United States Announced Deals

Target or Seller
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
JP Morgan 1 43.1 125,919 33 12 8.4 34.7

Morgan Stanley 2 36.7 107,282 30 6 18.0 18.7
Citigroup Inc 3 28.3 82,666 26 4 20.0 8.3
QUARTERLY VOLUME
Deutsche Bank AG 4 27.0 78,970 25 7 17.7 9.3
USD (Mln) / #Deals
$700,000 2,800
Goldman Sachs & Co 6 21.5 62,777 44 1 46.6 (25.1)
$600,000 2,400
Lazard Ltd 8 19.0 55,635 10 10 11.0 8.0 $500,000 2,000
Evercore Partners Inc 9 18.3 53,436 7 26 2.0 16.3 $400,000 1,600
UBS AG 10 15.0 43,961 28 3 26.1 (11.1)

$300,000 1,200
$200,000 800
Greenhill & Co Inc 12 13.3 39,000 1 16 6.3 7.0
Perella Weinberg Partners LP 13 10.1 29,495 6 17 3.8 6.3 $100,000 400
Wells Fargo & Co 14 4.8 14,074 8 38 0.4 4.4 $0 0
1
Q
Q
Rothschild 15 4.3 12,489 11 25 2.1 2.2
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
BNP Paribas 16 3.6 10,656 4 114 0.0 3.6
Moelis & Co 17 3.6 10,393 6 29 1.0 2.6
Centerview Partners LLP 20 2.3 6,819 1 20 3.6 (1.3)
TOTAL $292,390 2,152 $206,823

14
Bloomberg
Canada Announced Deals

Target or Seller
1/1/11 - 3/31/11 2011 2010 MKT
FIRM

Barclays Capital Group 3 23.5 8,558 2 - - 23.5
QUARTERLY VOLUME
Bank of America Merrill Lynch 4 22.9 8,338 4 - - 22.9
USD (Mln) / #Deals
$140,000 600
Jefferies Group Inc 6 17.9 6,514 3 - - 17.9
$120,000
TD Securities Inc 7 16.4 5,970 6 3 15.5 0.9 500
Goldman Sachs & Co 8 16.0 5,838 2 29 0.3 15.7 $100,000

400
Scotia Capital Inc 9 15.0 5,474 3 7 8.5 6.5 $80,000
300
JP Morgan 10 14.9 5,433 2 10 7.2 7.7
$60,000
Morgan Stanley 11 13.6 4,964 3 5 9.6 4.0 200
$40,000
Carnegie Fondkommission AB 12 13.1 4,757 1 - - 13.1
100
Haywood Securities 12 13.1 4,757 1 30 0.3 12.8 $20,000
GMP Securities LP 14 12.5 4,531 2 9 7.9 4.6 $0 0
1
Q
Q
Canaccord Genuity Corp 15 3.3 1,196 5 13 5.1 (1.8)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Lazard Ltd 16 2.9 1,057 1 - - 2.9
HSBC Bank PLC 18 2.6 955 1 19 1.5 1.1
Blair Franklin Capital Partners Inc 19 2.5 906 2 31 0.3 2.2
Moelis & Co 20 2.1 764 1 - - 2.1
TOTAL $36,385 355 $15,907

15
Bloomberg
Latin America Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 47.8 10,759 11 33 0.1 47.7

Banco Santander SA 2 35.9 8,093 4 3 38.7 (2.8)
Banco Itau BBA SA 3 31.8 7,172 14 16 2.0 29.8
QUARTERLY VOLUME
Lazard Ltd 4 23.9 5,394 1 39 0.0 23.9
USD (Mln) / #Deals
Citigroup Inc 5 14.8 3,326 5 2 49.4 (34.6)
$100,000 280
Estructura Partners 6 9.8 2,200 1 - - 9.8
240
HSBC Bank PLC 6 9.8 2,200 1 15 2.3 7.5 $80,000
Deutsche Bank AG 8 9.7 2,188 3 6 14.0 (4.3) 200
Credit Suisse Group AG 9 8.5 1,906 5 1 55.9 (47.4) $60,000

160
Banco Bradesco BBI SA 10 7.1 1,608 6 11 7.0 0.1

120
$40,000
Morgan Stanley 11 3.9 869 2 10 7.1 (3.2)
80
Banco BTG Pactual SA 12 3.4 766 4 5 15.8 (12.4)
$20,000
BMO Capital Markets Corp 13 3.0 683 1 17 1.7 1.3 40
Banco Espirito Santo de Investimento SA 14 2.1 481 1 - - 2.1 $0 0
1
Q
Q
JP Morgan 15 1.1 250 5 4 16.1 (15.0)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Rothschild 16 1.1 238 2 7 10.7 (9.6)
BR Partners 17 0.5 112 2 27 0.4 0.1
Plural Capital 18 0.4 91 1 31 0.1 0.3
BNP Paribas 19 0.3 72 1 13 3.5 (3.2)
TD Securities Inc 20 0.2 54 2 - - 0.2
TOTAL $22,528 184 $82,108

16
Bloomberg
Brazil Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 54.3 9,744 4 25 0.2 54.1

Banco Santander SA 2 43.4 7,794 3 4 21.4 22.0
Banco Itau BBA SA 3 32.6 5,856 6 13 5.9 26.7
QUARTERLY VOLUME
Lazard Ltd 4 30.1 5,394 1 29 0.0 30.1
USD (Mln) / #Deals
Citigroup Inc 5 13.4 2,400 1 - - 13.4
$70,000 160
Deutsche Bank AG 6 10.9 1,950 2 3 23.5 (12.6)
$60,000 140
Credit Suisse Group AG 7 10.6 1,906 4 7 20.1 (9.5)
120
Banco Bradesco BBI SA 8 9.0 1,608 6 6 20.4 (11.4) $50,000
100
Morgan Stanley 9 4.8 869 2 5 20.8 (16.0) $40,000
80
$30,000
BMO Capital Markets Corp 11 3.8 683 1 - - 3.8 60
$20,000
Banco Espirito Santo de Investimento SA 12 2.7 481 1 - - 2.7 40
JP Morgan 13 1.4 250 3 2 32.8 (31.4) $10,000 20
BR Partners 14 0.6 112 2 22 1.2 (0.6) $0 0
1
Q
Q
Plural Capital 15 0.5 91 1 24 0.4 0.1
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Aria Capital Partners 16 0.2 33 1 - - 0.2
Cypress 16 0.2 33 1 - - 0.2
GenCorp Participacoes e Consultoria 18 0.0 0 1 - - -
Rosenberg Partners 18 0.0 0 1 - - -
Vinci Partners 18 0.0 0 1 29 0.0 -
TOTAL $17,948 103 $28,145

17
Bloomberg
Europe Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
JP Morgan 1 33.9 82,929 37 3 18.1 15.8

Deutsche Bank AG 2 33.2 81,184 28 1 21.7 11.5
QUARTERLY VOLUME
Morgan Stanley 4 32.2 78,758 34 7 10.4 21.8
USD (Mln) / #Deals
Goldman Sachs & Co 5 28.7 70,346 38 6 12.3 16.4
$1,000,000 3,500
Citigroup Inc 6 25.5 62,322 17 4 17.2 8.3
3,000
Evercore Partners Inc 7 18.6 45,471 4 32 1.6 17.0 $800,000
Greenhill & Co Inc 8 16.4 40,105 4 37 1.0 15.4 2,500
Bank of America Merrill Lynch 9 11.1 27,159 29 11 6.9 4.2 $600,000

2,000
Rothschild 10 8.1 19,812 35 2 18.4 (10.3)

1,500
$400,000
UBS AG 11 6.1 15,014 22 15 5.8 0.3
1,000
$200,000
Barclays Capital Group 13 5.1 12,468 10 9 8.0 (2.9) 500
BNP Paribas 14 5.0 12,158 11 12 6.3 (1.3) $0 0
1
Q
Q
HSBC Bank PLC 15 4.6 11,144 12 18 5.5 (0.9)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Perella Weinberg Partners LP 16 4.0 9,832 3 16 5.6 (1.6)
Royal Bank of Scotland Group PLC 18 3.0 7,346 8 10 7.4 (4.4)
Nordea Bank AB 19 2.8 6,876 4 129 0.0 2.8
Credit Agricole Corporate & Investment Bank 20 2.4 5,765 7 20 4.2 (1.8)
TOTAL $244,865 1,838 $140,240

18
Bloomberg
Europe Announced Deals

Target or Seller
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
JP Morgan 1 36.9 72,231 34 4 13.2 23.7

Deutsche Bank AG 3 31.9 62,409 22 1 16.8 15.1
QUARTERLY VOLUME
Morgan Stanley 4 28.8 56,258 23 6 11.8 17.0
USD (Mln) / #Deals
Citigroup Inc 5 25.6 50,027 12 9 10.6 15.0
$1,000,000 3,200
Evercore Partners Inc 6 23.2 45,471 4 23 2.6 20.6
2,800
Goldman Sachs & Co 7 20.6 40,239 28 8 10.9 9.7 $800,000
2,400
Greenhill & Co Inc 8 20.5 40,105 4 28 1.6 18.9
2,000
Bank of America Merrill Lynch 9 11.9 23,212 24 10 10.2 1.7 $600,000
1,600
Rothschild 10 9.6 18,762 33 2 16.2 (6.6)
$400,000
UBS AG 11 6.8 13,262 18 16 4.3 2.5 1,200
HSBC Bank PLC 12 5.0 9,790 10 13 6.9 (1.9) 800

$200,000
Barclays Capital Group 13 4.5 8,826 5 5 12.7 (8.2) 400
Royal Bank of Scotland Group PLC 14 3.8 7,346 7 7 11.8 (8.0) $0 0
1
Q
Q
Nordea Bank AB 15 3.5 6,876 4 111 0.0 3.5
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
UniCredit SpA 18 2.3 4,548 2 - - 2.3
Banque Privee Edmond de Rothschild SA 18 2.3 4,548 1 - - 2.3
Berenberg Bank 18 2.3 4,548 1 55 0.3 2.0
TOTAL $195,638 1,433 $87,917

19
Bloomberg
United Kingdom Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 38.9 34,148 18 21 3.1 35.8

Morgan Stanley 2 21.9 19,192 14 8 10.8 11.1
JP Morgan 3 20.4 17,928 16 1 27.4 (7.0)
QUARTERLY VOLUME
USD (Mln) / #Deals
Deutsche Bank AG 5 18.8 16,515 7 2 26.4 (7.6)
$600,000 1,400
Citigroup Inc 6 18.5 16,200 9 11 7.1 11.4
1,200
Rothschild 7 17.3 15,157 21 4 15.6 1.7 $500,000

$400,000
Barclays Capital Group 9 13.6 11,950 5 7 13.6 - 800
$300,000
UBS AG 10 10.4 9,103 12 20 3.5 6.9
600
Banque Privee Edmond de Rothschild SA 11 5.2 4,548 1 - - 5.2 $200,000
400
Berenberg Bank 11 5.2 4,548 1 - - 5.2
$100,000
UniCredit SpA 11 5.2 4,548 1 - - 5.2 200
HSBC Bank PLC 14 4.7 4,106 6 10 9.1 (4.4) $0 0
1
Q
Q
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Evercore Partners Inc 17 3.0 2,646 1 17 4.7 (1.7)
Nomura Holdings Inc 18 1.9 1,670 3 31 1.1 0.8
Commerzbank AG 19 1.5 1,343 1 - - 1.5
Gleacher Shacklock LLP 19 1.5 1,343 1 71 0.0 1.5
TOTAL $87,820 631 $48,752

20
Bloomberg
Germany Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM

Deutsche Bank AG 2 81.0 59,558 12 5 6.9 74.1
JP Morgan 3 78.0 57,395 6 10 4.9 73.1
QUARTERLY VOLUME
Morgan Stanley 4 69.2 50,885 6 6 6.4 62.8
USD (Mln) / #Deals
Greenhill & Co Inc 5 53.2 39,105 3 - - 53.2
$120,000 500
Citigroup Inc 6 53.0 39,000 1 8 5.0 48.0
400
Goldman Sachs & Co 8 25.9 19,014 4 1 52.9 (27.0)
$80,000
Societe Generale 9 13.2 9,680 2 - - 13.2 300
$60,000
BNP Paribas 10 13.0 9,532 1 - - 13.0
200
Perella Weinberg Partners LP 10 13.0 9,532 1 2 30.7 (17.7) $40,000
100
$20,000
Barclays Capital Group 13 8.9 6,510 1 - - 8.9
Rothschild 14 6.2 4,548 6 29 0.0 6.2 $0 0
1
Q
Q
UniCredit SpA 14 6.2 4,548 2 - - 6.2
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Banque Privee Edmond de Rothschild SA 14 6.2 4,548 1 - - 6.2
Berenberg Bank 14 6.2 4,548 1 17 1.1 5.1
Royal Bank of Scotland Group PLC 18 6.1 4,495 3 4 22.3 (16.2)
HSBC Bank PLC 19 1.8 1,354 1 - - 1.8
WestLB AG 20 0.3 244 1 - - 0.3
TOTAL $73,559 268 $22,194

21
Bloomberg
France Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Morgan Stanley 1 21.1 7,966 8 9 12.7 8.4

Goldman Sachs & Co 2 20.5 7,753 5 12 6.1 14.4
QUARTERLY VOLUME
USD (Mln) / #Deals
Rothschild 5 14.2 5,351 10 3 29.4 (15.2)
$100,000 450
HSBC Bank PLC 6 10.1 3,796 5 33 0.0 10.1
400
Societe Generale 7 9.8 3,700 11 7 21.0 (11.2) $80,000 350
Evercore Partners Inc 8 7.0 2,646 1 - - 7.0
300
UBS AG 8 7.0 2,646 1 - - 7.0 $60,000
250
JP Morgan 10 5.1 1,924 4 11 10.9 (5.8) 200
$40,000
BNP Paribas 11 4.8 1,826 6 1 32.9 (28.1) 150
Lazard Ltd 12 4.0 1,502 5 6 24.4 (20.4) 100
$20,000
Nomura Holdings Inc 13 2.7 1,036 3 20 2.1 0.6 50
Bank of America Merrill Lynch 14 2.3 861 5 - - 2.3 $0 0
1
Q
Q
Deloitte Touche Tohmatsu 15 2.0 743 4 33 0.0 2.0
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
AT Kearney Ltd 16 2.0 737 1 - - 2.0
Econopolis NV 16 2.0 737 1 - - 2.0
KBC International Group 16 2.0 737 1 - - 2.0
Guosen Securities Co Ltd 19 1.4 526 2 - - 1.4
Banco Santander SA 20 1.3 497 1 21 1.4 (0.1)
TOTAL $37,752 329 $18,959

3
Bloomberg
Benelux Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Bank of America Merrill Lynch 1 22.5 3,206 5 25 0.2 22.3

Morgan Stanley 2 12.8 1,832 4 8 15.9 (3.1)
UBS AG 3 12.4 1,765 3 7 19.2 (6.8)
QUARTERLY VOLUME
Citigroup Inc 4 9.7 1,382 2 1 44.9 (35.2)
USD (Mln) / #Deals
Lazard Ltd 5 9.1 1,300 1 17 1.1 8.0
$350,000 450
Raiffeisen Zentralbank Oesterreich AG 5 9.1 1,300 1 - - 9.1
400
$300,000
ING Groep NV 7 8.4 1,198 4 35 0.0 8.4
350
AT Kearney Ltd 8 5.2 737 1 - - 5.2 $250,000
300
Credit Agricole Corporate & Investment Bank 8 5.2 737 1 - - 5.2 $200,000 250
Deloitte Touche Tohmatsu 8 5.2 737 1 35 0.0 5.2 200
$150,000
Econopolis NV 8 5.2 737 1 - - 5.2 150
$100,000
KBC International Group 8 5.2 737 1 14 1.7 3.5 100
JP Morgan 13 4.8 690 4 4 28.9 (24.1) $50,000

50
Canaccord Genuity Corp 14 4.4 630 1 - - 4.4 $0 0
1
Q
Q
Scotia Capital Inc 14 4.4 630 1 32 0.1 4.3
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
CIMB 16 3.7 527 1 - - 3.7
Newfields Advisors 16 3.7 527 1 - - 3.7
National Bank Financial Inc 18 2.3 322 1 - - 2.3
Merchant Securities Ltd 19 1.7 245 1 - - 1.7
Perella Weinberg Partners LP 19 1.7 245 1 - - 1.7
TOTAL $14,273 204 $26,435

2
Bloomberg
Iberia Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 39.4 10,114 5 - - 39.4

Citigroup Inc 3 22.4 5,740 5 13 6.1 16.3
QUARTERLY VOLUME
JP Morgan 4 21.5 5,526 6 2 23.6 (2.1)
USD (Mln) / #Deals
$320,000 280
Morgan Stanley 6 14.2 3,631 6 6 14.4 (0.2)
$280,000 240
$240,000
UBS AG 8 10.7 2,747 3 - - 10.7 200
$200,000
Banco Itau BBA SA 9 9.4 2,400 1 - - 9.4 160
$160,000
HSBC Bank PLC 10 8.7 2,229 1 4 18.8 (10.1)
120
China International Capital Corp Ltd 11 3.9 1,009 2 - - 3.9 $120,000
80
Banco Bilbao Vizcaya Argentaria SA 12 2.5 628 4 15 4.6 (2.1) $80,000
Societe Generale 13 2.4 613 1 - - 2.4 $40,000 40
Banco Espirito Santo de Investimento SA 14 1.9 481 1 9 8.9 (7.0) $0 0
1
Q
Q
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Mediobanca SpA 16 1.4 354 1 - - 1.4
Lazard Ltd 17 0.4 94 3 18 2.5 (2.1)
Plural Capital 18 0.4 91 1 - - 0.4
Kempen & Co NV 19 0.3 80 1 - - 0.3
Daiwa Securities Group Inc 20 0.1 37 1 - - 0.1
TOTAL $25,649 107 $17,222

24
Bloomberg
Nordic Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 55.0 13,943 5 7 10.6 44.4

Deutsche Bank AG 2 46.5 11,773 4 26 1.0 45.5
JP Morgan 3 27.5 6,977 3 15 3.2 24.3
QUARTERLY VOLUME
Nordea Bank AB 4 27.1 6,876 4 37 0.0 27.1
USD (Mln) / #Deals
Royal Bank of Scotland Group PLC 5 25.6 6,495 3 37 0.0 25.6
$60,000 600
Mizuho Financial Group Inc 6 17.8 4,519 2 - - 17.8
Evercore Partners Inc 8 10.4 2,625 1 - - 10.4

$40,000 400
$30,000 300
Moelis & Co 10 7.9 2,000 1 - - 7.9
Lazard Ltd 11 4.2 1,057 1 7 10.6 (6.4) $20,000 200
$10,000 100
Skandinaviska Enskilda Banken AB 13 3.8 963 7 13 6.9 (3.1)
Svenska Handelsbanken AB 14 2.2 554 4 33 0.3 1.9 $0 0
1
Q
Q
UBS AG 15 0.8 208 2 4 16.1 (15.3)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
RBC Capital Markets 16 0.8 205 1 - - 0.8
PricewaterhouseCoopers LLP 17 0.7 167 4 25 1.0 (0.3)
Danske Markets Inc 18 0.5 135 2 1 22.5 (22.0)
Nomura Holdings Inc 19 0.4 90 1 - - 0.4
Jefferies Group Inc 20 0.2 49 1 21 1.8 (1.6)
TOTAL $25,330 227 $7,772

25
Bloomberg
Africa/Middle East Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 33.1 9,737 4 10 16.2 16.9

JP Morgan 2 14.4 4,246 7 16 3.9 10.5
Morgan Stanley 3 14.3 4,221 4 2 33.7 (19.4)
QUARTERLY VOLUME
Banco Santander SA 4 9.6 2,827 2 - - 9.6
USD (Mln) / #Deals
$80,000 400
Citigroup Inc 6 7.2 2,112 4 17 2.0 5.2
$70,000 350
Credit Suisse Group AG 7 4.7 1,384 3 - - 4.7
$60,000 300
Investec PLC 8 4.5 1,330 1 - - 4.5
$50,000 250
Jefferies Group Inc 9 4.0 1,190 3 - - 4.0
$40,000 200
Deutsche Bank AG 10 3.9 1,136 2 13 11.0 (7.1)
Lazard Ltd 11 3.4 1,000 2 12 12.0 (8.6) $30,000 150
Greenhill & Co Inc 11 3.4 1,000 1 - - 3.4 $20,000 100
Standard Bank of South Africa Ltd 11 3.4 1,000 1 - - 3.4 $10,000 50
BNP Paribas 14 2.7 800 1 4 32.2 (29.5) $0 0
1
Q
Q
Hartleys Ltd 15 1.3 384 1 - - 1.3
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
RBC Capital Markets 16 0.7 201 1 - - 0.7
UBS AG 17 0.4 109 2 6 30.6 (30.2)
FirstEnergy Capital Corp 18 0.3 80 1 - - 0.3
Perella Weinberg Partners LP 18 0.3 80 1 18 1.1 (0.8)
HSBC Bank PLC 20 0.2 60 1 3 33.3 (33.1)
TOTAL $29,446 238 $34,996

26
Bloomberg
Eastern Europe Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM

UBS AG 2 20.7 4,942 5 23 0.0 20.7
Rothschild 3 17.9 4,276 8 3 7.0 10.9
QUARTERLY VOLUME
Credit Agricole Corporate & Investment Bank 4 17.8 4,237 1 - - 17.8
USD (Mln) / #Deals
$80,000 600
Goldman Sachs & Co 6 12.5 2,980 4 - - 12.5
$70,000
JP Morgan 7 11.1 2,643 5 4 5.1 6.0 500
$60,000
Lazard Ltd 8 9.6 2,300 3 9 3.0 6.6
400
$50,000
Deutsche Bank AG 9 9.3 2,229 4 4 5.1 4.2
$40,000 300
HSBC Bank PLC 10 8.7 2,073 1 14 1.1 7.6
Raiffeisen Zentralbank Oesterreich AG 11 6.8 1,621 2 - - 6.8 $30,000
200
Morgan Stanley 12 6.5 1,552 2 8 3.4 3.1 $20,000
100
Metal Strategies Inc 13 5.0 1,200 1 - - 5.0 $0 0
1
Q
Q
Greenhill & Co Inc 15 4.2 1,000 1 - - 4.2
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Standard Bank of South Africa Ltd 15 4.2 1,000 1 - - 4.2
Allen & Co Inc 17 4.0 950 1 - - 4.0
Bastion Group Poland 18 2.5 596 1 - - 2.5
PricewaterhouseCoopers LLP 19 2.3 550 2 - - 2.3
Vienna Capital Partners 19 2.3 550 1 - - 2.3
TOTAL $23,867 185 $7,897

27
Bloomberg
Asia Pacific Ex-Japan Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 20.2 26,345 21 12 7.8 12.4

Barclays Capital Group 2 15.0 19,584 5 4 13.1 1.9
UBS AG 3 13.3 17,408 8 1 23.6 (10.3)
QUARTERLY VOLUME
JP Morgan 4 12.1 15,761 10 11 8.4 3.7
USD (Mln) / #Deals
Morgan Stanley 5 11.6 15,083 13 2 16.4 (4.8)
$320,000 3,200
$280,000 2,800
Deutsche Bank AG 7 9.0 11,690 10 15 5.9 3.1
$240,000 2,400
Moelis & Co 8 8.7 11,400 3 - - 8.7
$200,000 2,000
Lazard Ltd 9 7.6 9,923 5 54 0.3 7.3
$160,000 1,600
Scotia Capital Inc 10 7.3 9,507 2 - - 7.3
Wells Fargo & Co 11 7.2 9,400 1 - - 7.2 $120,000 1,200
Bank of America Merrill Lynch 12 6.8 8,816 15 5 12.9 (6.1) $80,000 800
RBC Capital Markets 14 5.1 6,658 4 43 0.5 4.6 $0 0
1
Q
Q
China International Capital Corp Ltd 15 4.5 5,933 10 10 9.1 (4.6)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Citigroup Inc 16 3.7 4,877 10 13 7.8 (4.1)
TD Securities Inc 17 3.7 4,854 2 58 0.2 3.5
Carnegie Fondkommission AB 18 3.6 4,757 1 - - 3.6
Haywood Securities 18 3.6 4,757 1 - - 3.6
O'Sullivan Partners Advisory Pty Ltd 20 3.5 4,586 2 - - 3.5
TOTAL $130,611 1,774 $114,907

28
Bloomberg
Asia Pacific Ex-Japan Announced Deals

Target or Seller
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 17.3 17,331 15 3 10.5 6.8

UBS AG 2 15.5 15,518 6 1 17.8 (2.3)
JP Morgan 3 14.9 14,886 8 10 5.5 9.4
QUARTERLY VOLUME
Morgan Stanley 4 12.5 12,516 11 4 9.3 3.2
USD (Mln) / #Deals
Deutsche Bank AG 5 11.0 11,040 8 16 2.3 8.7
$200,000 2,800
Lazard Ltd 6 9.9 9,923 5 100 0.0 9.9
2,400
Barclays Capital Group 7 9.4 9,400 3 11 5.2 4.2 $160,000
Moelis & Co 7 9.4 9,400 2 - - 9.4 2,000
Wells Fargo & Co 7 9.4 9,400 1 - - 9.4 $120,000

1,600

1,200
$80,000
800
Citigroup Inc 12 4.9 4,877 9 5 7.3 (2.4)
$40,000
O'Sullivan Partners Advisory Pty Ltd 13 4.6 4,586 2 - - 4.6 400
Woori Investment & Securities Co Ltd 14 4.5 4,535 4 - - 4.5 $0 0
1
Q
Q
Korea Development Bank 15 4.4 4,436 3 61 0.2 4.2
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Phatra Securities PCL 17 2.7 2,680 2 22 1.5 1.2
Credit Suisse Group AG 18 2.4 2,402 7 13 3.6 (1.2)
HSBC Bank PLC 19 2.4 2,367 3 46 0.4 2.0
Macquarie Group Ltd 20 2.1 2,062 7 18 1.9 0.2
TOTAL $100,181 1,543 $82,479

29
Bloomberg
Japan Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 35.0 10,933 5 7 10.6 24.4

Morgan Stanley 2 32.6 10,173 17 19 2.0 30.6
Nomura Holdings Inc 3 31.0 9,677 35 1 23.1 7.9
QUARTERLY VOLUME
Bank of America Merrill Lynch 4 18.4 5,755 5 3 18.4 -
USD (Mln) / #Deals
Mizuho Financial Group Inc 5 15.7 4,906 22 18 2.1 13.6
$50,000 800
Sumitomo Mitsui Financial Group Inc 6 11.5 3,578 25 16 2.4 9.1
700
600
Deutsche Bank AG 8 8.3 2,600 4 2 18.5 (10.2)
500
GCA Savvian Group Corp 9 6.6 2,071 13 20 1.2 5.4 $30,000
400
Banco Itau BBA SA 10 4.2 1,300 1 63 0.0 4.2
$20,000
KPMG Corporate Finance LLC 11 4.2 1,299 5 17 2.1 2.1 300
Credit Suisse Group AG 12 4.1 1,274 3 - - 4.1 200

$10,000
Plutus Consulting Co Ltd 13 3.7 1,156 2 43 0.1 3.6 100
JP Morgan 14 2.9 900 2 4 14.3 (11.4) $0 0
1
Q
Q
Masters Trust Kaikeisha YK 15 2.5 776 1 48 0.0 2.5
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
HSBC Bank PLC 16 2.2 679 1 - - 2.2
Daiwa Securities Group Inc 17 2.1 641 13 14 4.9 (2.8)
Robert W Baird & Co Inc 18 1.9 599 1 - - 1.9
Ernst & Young 19 1.6 512 8 21 1.0 0.6
Numis Securities Ltd 20 1.5 461 1 - - 1.5
TOTAL $31,244 547 $35,532

30
Bloomberg
China Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 15.5 6,351 6 7 4.6 10.9

QUARTERLY VOLUME
USD (Mln) / #Deals
RBC Capital Markets 4 13.3 5,434 1 - - 13.3
$80,000 1,200
Morgan Stanley 6 9.4 3,853 4 6 8.6 0.8
$70,000
Moelis & Co 7 4.9 2,000 1 - - 4.9 1,000
$60,000
Royal Bank of Scotland Group PLC 7 4.9 2,000 1 - - 4.9
800
$50,000
Huatai Securities Co Ltd 9 3.9 1,595 6 18 1.3 2.6
$40,000 600
Nomura Holdings Inc 11 3.3 1,365 4 13 2.5 0.8 $30,000
400
UBS AG 12 2.9 1,185 2 2 16.9 (14.0) $20,000
200
Citigroup Inc 13 2.8 1,157 5 4 11.9 (9.1) $10,000
GF Securities Co Ltd 14 2.6 1,053 2 19 1.1 1.5 $0 0
1
Q
Q
BOC International China Ltd 15 2.5 1,004 1 - - 2.5
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Guoyuan Securities Co Ltd 15 2.5 1,004 1 - - 2.5
Haitong Securities Co Ltd 17 2.4 960 6 20 0.7 1.7
JP Morgan 18 2.3 937 3 5 11.2 (8.9)
CITIC Securities 19 2.1 870 2 14 1.9 0.2
Tudor Pickering Holt & Co LLC 20 1.4 570 1 - - 1.4
TOTAL $40,909 725 $43,928

31
Bloomberg
Hong Kong Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 19.5 2,494 2 10 4.5 15.0

China International Capital Corp Ltd 1 19.5 2,494 1 - - 19.5
JP Morgan 3 7.3 937 2 - - 7.3
QUARTERLY VOLUME
Citigroup Inc 4 6.3 803 2 - - 6.3
USD (Mln) / #Deals
Somerley Ltd 5 3.9 496 4 9 4.6 (0.7)
$60,000 500
Macquarie Group Ltd 6 3.6 463 1 16 1.0 2.6
450
Morgan Stanley 6 3.6 463 1 1 23.7 (20.1) $50,000
400
Deutsche Bank AG 8 3.2 413 2 18 1.0 2.2 350
$40,000
Piper Jaffray & Co 9 2.8 359 1 - - 2.8 300
$30,000 250
Kingston Securities 10 2.7 346 4 8 5.0 (2.3)
200
HSBC Bank PLC 11 2.6 334 1 - - 2.6 $20,000
150
Sumitomo Mitsui Financial Group Inc 12 2.1 273 1 - - 2.1
100
$10,000
Credit Suisse Group AG 13 2.1 263 1 12 3.1 (1.0) 50
PricewaterhouseCoopers LLP 14 1.8 229 1 - - 1.8 $0 0
1
Q
Q
INCU Corporate Finance Ltd 15 1.6 210 6 21 0.6 1.0
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
UBS AG 16 1.5 196 2 2 10.1 (8.6)
Haitong Securities Co Ltd 17 1.3 171 2 - - 1.3
Standard Chartered PLC 18 1.1 134 1 5 7.9 (6.8)
Quam Securities Co Ltd 19 0.8 99 6 - - 0.8
BMO Capital Markets Corp 20 0.8 97 1 - - 0.8
TOTAL $12,791 225 $12,118

32
Bloomberg
Taiwan Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Morgan Stanley 1 49.4 2,655 2 - - 49.4

Citigroup Inc 2 40.2 2,160 1 - - 40.2
Yuanta Securities Co Ltd 3 10.9 585 3 7 0.7 10.2
QUARTERLY VOLUME
Maybank 4 7.5 404 1 - - 7.5
USD (Mln) / #Deals
$20,000 140
TC Capital Advisory Ltd 4 7.5 404 1 - - 7.5
120
Grand Cathay Securities 7 4.4 238 1 1 36.9 (32.5) $16,000
UBS AG 8 3.6 196 1 2 13.0 (9.4) 100
JP Morgan 9 3.4 180 1 - - 3.4 $12,000

80
Deutsche Bank AG 10 2.8 150 1 - - 2.8

60
$8,000
CIMB 11 0.4 21 1 - - 0.4
40
Fubon Securities Co Ltd 12 0.1 3 1 3 7.4 (7.3)
$4,000
TOTAL $5,377 81 $1,744 20
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions. $0 0
1
Q
Q
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
33
Bloomberg
South Korea Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Goldman Sachs & Co 1 49.4 5,086 4 - - 49.4

Woori Investment & Securities Co Ltd 2 44.1 4,535 4 - - 44.1
QUARTERLY VOLUME
Korea Development Bank 3 43.1 4,436 3 10 1.8 41.3
USD (Mln) / #Deals
Deutsche Bank AG 5 6.3 650 2 4 3.7 2.6
$24,000 350
Banco Itau BBA SA 5 6.3 650 1 - - 6.3
300
Credit Suisse Group AG 7 5.0 515 1 - - 5.0 $20,000
KPMG Corporate Finance LLC 8 2.2 228 4 14 0.1 2.1 250

$16,000
Ernst & Young 9 1.6 169 3 12 0.4 1.2 200
$12,000
Morgan Stanley 10 1.3 134 1 - - 1.3
150
BNP Paribas 11 0.7 72 1 - - 0.7 $8,000
100
Merriman Curhan Ford & Co 12 0.3 32 1 - - 0.3
$4,000
Deloitte Touche Tohmatsu 13 0.1 9 1 4 3.7 (3.6) 50
Citigroup Inc 14 0.0 0 1 7 3.0 (3.0) $0 0
1
Q
Q
Jefferies Group Inc 14 0.0 0 1 - - -
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Stifel Nicolaus Weisel 14 0.0 0 1 - - -
TOTAL $10,289 201 $8,019

34
Bloomberg
Australia & New Zealand Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM

JP Morgan 2 36.9 13,521 3 6 9.2 27.7
Deutsche Bank AG 3 26.1 9,543 3 18 1.4 24.7
QUARTERLY VOLUME
Scotia Capital Inc 4 26.0 9,507 2 - - 26.0
USD (Mln) / #Deals
Lazard Ltd 5 25.7 9,400 1 33 0.1 25.6
$180,000 700
Moelis & Co 5 25.7 9,400 1 - - 25.7
$160,000
600
UBS AG 5 25.7 9,400 1 1 37.1 (11.4)
$140,000
Wells Fargo & Co 5 25.7 9,400 1 - - 25.7 500
$120,000
Goldman Sachs & Co 9 21.0 7,707 8 5 15.7 5.3 400
$100,000
Credit Suisse Group AG 10 17.7 6,491 4 - - 17.7 $80,000 300
Carnegie Fondkommission AB 11 13.0 4,757 1 - - 13.0 $60,000
200
Haywood Securities 11 13.0 4,757 1 - - 13.0 $40,000
TD Securities Inc 11 13.0 4,757 1 17 1.6 11.4 $20,000

100
Jefferies Group Inc 14 13.0 4,750 1 - - 13.0 $0 0
1
Q
Q
O'Sullivan Partners Advisory Pty Ltd 15 12.5 4,586 2 - - 12.5
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Macquarie Group Ltd 16 5.6 2,062 7 10 4.6 1.0
Citigroup Inc 17 4.1 1,507 2 2 25.2 (21.1)
Gresham Partners Ltd 20 1.8 656 4 34 0.1 1.7
TOTAL $36,630 259 $17,648

35
Bloomberg
India Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
Morgan Stanley 1 46.8 7,879 3 4 45.5 1.3

Goldman Sachs & Co 2 42.8 7,200 2 14 5.8 37.0
HSBC Bank PLC 3 17.3 2,908 3 7 43.6 (26.3)
QUARTERLY VOLUME
Standard Chartered PLC 4 12.5 2,099 4 1 53.0 (40.5)
USD (Mln) / #Deals
Ambit Corp Finance 5 7.8 1,313 6 22 1.0 6.8
$28,000 350
$24,000 300
Jefferies Group Inc 7 7.3 1,224 3 24 0.8 6.5 $20,000 250
RBC Capital Markets 7 7.3 1,224 3 - - 7.3 $16,000 200
Australia & New Zealand Banking Group Ltd 10 5.2 875 1 - - 5.2
$12,000 150
JP Morgan 10 5.2 875 1 - - 5.2
$8,000 100
Royal Bank of Scotland Group PLC 10 5.2 875 1 19 2.8 2.4
UBS AG 10 5.2 875 1 3 47.5 (42.3) $4,000 50
Deutsche Bank AG 14 4.0 679 1 10 20.0 (16.0) $0 0
1
Q
Q
Lazard Ltd 15 3.1 523 4 - - 3.1
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Yes Bank Ltd 16 2.1 345 7 - - 2.1
Kotak Mahindra Capital Co Ltd 17 1.8 302 2 21 1.5 0.3
SBI Capital Markets Ltd 18 1.6 267 1 5 44.1 (42.5)
Edelweiss Capital Ltd 19 1.5 259 2 23 1.0 0.5
Ernst & Young 20 1.1 186 5 26 0.6 0.5
TOTAL $16,842 176 $24,535

36
Bloomberg
South East Asia Announced Deals

Any Involvement
1/1/11 - 3/31/11 2011 2010 MKT
FIRM
UBS AG 1 28.5 6,627 3 4 15.9 12.6

Phatra Securities PCL 2 11.5 2,680 2 16 4.6 6.9
ING Groep NV 3 7.3 1,705 2 - - 7.3
QUARTERLY VOLUME
Maybank 4 7.3 1,688 7 - - 7.3
USD (Mln) / #Deals
TC Capital Advisory Ltd 5 6.1 1,413 3 - - 6.1
$60,000 700
600
HSBC Bank PLC 7 5.2 1,209 3 22 1.1 4.1 $50,000
Australia & New Zealand Banking Group Ltd 8 4.8 1,104 3 - - 4.8 500
$40,000
Bank of America Merrill Lynch 9 4.7 1,092 2 10 9.6 (4.9) 400
$30,000
JP Morgan 10 4.2 975 2 6 11.2 (7.0)
300
Royal Bank of Scotland Group PLC 11 3.8 875 1 20 2.5 1.3 $20,000
200
Standard Chartered PLC 11 3.8 875 1 3 16.0 (12.2)
$10,000
Citigroup Inc 13 3.1 721 2 13 7.4 (4.3) 100
Deutsche Bank AG 14 2.9 668 3 1 21.9 (19.0) $0 0
1
Q
Q
CIMB 15 2.5 576 3 2 18.6 (16.1)
07
07
07
08
08
08
08
09
09
09
09
10
10
10
10
11
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
20
Newfields Advisors 16 2.3 540 2 27 0.7 1.6
Kim Eng Securities 17 2.2 507 2 42 0.0 2.2
DBS Group Holdings Ltd 18 2.2 504 5 19 2.6 (0.4)
Somerley Ltd 19 1.3 290 2 - - 1.3
Sumitomo Mitsui Financial Group Inc 20 1.2 273 2 37 0.0 1.2
TOTAL $23,238 320 $28,034

37
Bloomberg
04/01/2011
For data submissions or queries, Bloomberg 2011 1st Qtr

please contact:
Mergers & Acquisitions Financial Advisory Rankings

Mariana Trindade
North America
+1-212-617-3692 Bloomberg M&A league tables represent transactions that are either pending or completed, and for which Bloomberg
+1-917-369-3965 has been notified.
mtrindade1@bloomberg.net
Roberto Ferreira
EMEA Bloomberg M&A league tables include mergers, acquisitions, divestitures, self-tenders, spinoffs, debt-for-equity swaps,
+44-20-7330-7115 private placements of common equity and convertible securities, and purchases of convertible securities and cash
+44-20-7392-6672 injection components of recapitalizations according to Bloomberg standards. Excludes open market transactions. All
rferreira2@bloomberg.net deals except additional stake purchases are subjected to a minimum threshold of 5% equity or USD 50 million total
value. League table credit is based on announced total value of a deal.
Shima Furukawa
Asia Pacific
Bloomberg LP and its suppliers believe the information herein was obtained from reliable sources, but they do not
+81-3-3201-3952
+81-3-3201-7228 guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or
sfurukawa2@bloomberg.net sale of securities or commodities.
Fernanda Pedreira
LATAM
+55-11-4502-1830
+55-11-4502-1880
fpedreira2@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.
MA <GO> MA <GO> MA <GO>
38

Bloomberg M&a 2011 Q1

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GLOBAL FINANCIAL ADVISORY

MERGERS & ACQUISITIONS RANKINGS Q1 2011

For data submissions or queries, please contact:

Contact Phone Fax Email

North America Mariana Trindade +1-212-617-3692 +1-917-369-3965 mtrindade1@bloomberg.net

Asia Pacific Shima Furukawa +81-3-3201-3952 +81-3-3201-7228 sfurukawa2@bloomberg.net

LATAM Fernanda Pedreira +55-11-4502-1830 +55-11-4502-1880 fpedreira2@bloomberg.net

For 24 hour global customer support call

MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO>

Industry Sector Deal Activity

* All Q1 2011 numbers as of March 31, 2011.

MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

9000 Volume 4000

Total Volume (USD Mln)

Total Volume (USD Mln)

EMEA M&A Quarterly Volume APAC M&A Quarterly Volume

Total Volume (USD Mln)

*All Total Value figures in USD millions.

MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

Electric-Integrated $36.36 UK $19.83

TOP TARGETS TOP TARGETS

. Total Volume (USD Bln) Total Volume (USD Bln)

MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

Telephone-Integrated $40.75 US $92.59

Investment Companies $22.20 UK $49.49

Oil Comp-Integrated $19.25 France $25.49

Private Equity $14.85 Germany $19.34

Diversified Operations $14.53 Spain $9.36

TOP TARGETS TOP TARGETS

Oil Comp-Integrated $15.42 UK $38.32

Finance-Other Services $13.15 Spain $19.39

Oil Comp-Explor&Prodtn $10.12 Germany $14.90

Electric Distribution $9.08 France $14.76

. Total Volume (USD Bln) Total Volume (USD Bln)

MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

Oil Comp-Integrated $14.15 China $31.32

Private Equity $13.59 Japan $24.69

Investment Companies $9.27 U.S. $23.99

Real Estate Oper/Develop $8.04 Australia $18.97

Diversified Operations $7.82 South Korea $10.04

TOP TARGETS TOP TARGETS

Oil Comp-Explor&Prodtn $13.66 U.S. $23.49

REITS-Shopping Centers $10.79 China $23.16

Real Estate Oper/Develop $7.86 Japan $20.29

Oil Comp-Integrated $7.59 Australia $13.23

Electric Products-Misc $5.98 India $13.03

$- $2 $4 $6 $8 $10 $12 $14 $16 $- $10 $20 $30 $40

. Total Volume (USD Bln) Total Volume (USD Bln)

MA <GO> LEAG <GO> NI DEALSPACE <GO> MARB <GO>

Global M&A Activity Regional Breakdown by Target Region/Country

Regional Breakdown by Target Region/Country

VOLUME DEAL VOLUME DEAL VOLUME Asia-Pacific

Australia $13,227 165 $10,479 202 26.23% USD (Mln) / #Deals

New Zealand $50 14 $1,894 30 -97.35% $1,400,000 10,000

China $23,171 622 $28,920 578 -19.88% $1,200,000

M&A Financial Advisory League Tables

Global Announced Deals

JP Morgan 1 28.0 164,627 71 9 8.6 19.4

Rothschild 14 4.8 28,402 41 13 6.5 (1.7) $0 0

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

MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO>

M&A Financial Advisory League Tables