FINANCIAL ADVISORS - ??REUTERS / Brendan McDermid MERGERS ACQUISITIONS REVIEW FINANCIAL ADVISORS First Nine MonthsNine Months 2017

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  • REUTERS / Brendan McDermid

    MERGERS & ACQUISITIONS REVIEWFINANCIAL ADVISORS

    First Nine Months 2017First Nine Months 2017

  • Any New Zealand Involvement Announced (AD39)

    Any New Zealand Involvement Completed (AF46)

    Japan M&A

    Americas Deals Intelligence

    M&A Financial Advisory ReviewFirst Nine Months 2017 | Mergers & Acquisitions | Financial Advisors

    1

    Japan Deals Intelligence

    Any European Involvement Announced (AD21) 17

    17

    18

    18

    Global M&A

    Global Deals Intelligence

    Scorecard: Worldwide Announced M&A

    Scorecard: Worldwide Completed M&A

    Top Fifteen Worldwide Announced Deals

    Any German Involvement Announced (AD35)

    Americas M&A Any Spanish Involvement Completed (AF41)

    Any UK Involvement Announced (AD32)

    Any UK Involvement Completed (AF39)

    Any European Involvement Completed (AF3) 10

    12

    12

    Any French Involvement Announced (AD33)

    Worldwide Completed (AF1)

    Top Ten Japanese Involvement Announced Deals

    19

    Any French Involvement Completed (AF40)

    Any Japanese Involvement Completed (AF23)

    19

    Any Spanish Involvement Announced (AD34)3

    6

    6

    11

    12

    11 18

    Any Japanese Involvement Announced (AD19)

    2

    2

    3

    Table of Contents

    1

    Worldwide Announced (AD1)

    10

    2

    11

    11

    20

    20

    South Korea M&A

    Any South Korea Involvement Announced (AD51)

    Any Americas Involvement Announced (AD49) 7

    US Target Completed (AF2)

    6

    US Target Announced (AD2) 7

    Any Americas Involvement Completed (AF55)

    15

    Any Asia Pacific Announced Fairness Opinion

    Any German Involvement Completed (AF42)

    Any Italian Involvement Completed (AF43)

    Top Ten US Announced Deals 12

    Any Italian Involvement Announced (AD36)

    Any EMEA Involvement Announced (AD47)

    European Deals Intelligence

    Any Benelux Involvement Announced (AD40)

    8

    8

    7

    Any Benelux Involvement Completed (AF47)Any US Involvement Completed (AF48)

    Top Ten Any Asia (ex-Japan) Involvement Announced Deals

    Any Nordic Involvement Announced (AD37)

    16

    Any Canadian Involvement Completed (AF49)

    Any Australian Involvement Completed (AF31)

    10

    9

    Any Canadian Involvement Announced (AD42)

    16

    Any Asia (ex-Japan) Involvement Completed (AF32)

    Any EMEA Involvement Completed (AF53) 10

    15

    7

    8

    9EMEA M&A

    Any US Involvement Announced (AD41)

    22

    21

    22

    21

    Regional Contacts

    13

    13

    13

    Any Japanese Announced Fairness Opinion

    14

    13 Worldwide Announced Fairness Opinion

    Top 10 Any South Korea Involvement Announced Deals

    22

    8

    21Asia Pacific (ex-Japan) M&A

    Asia Pacific (ex-Japan) Deals Intelligence

    16

    16Any Australian Involvement Announced (AD24)

    9

    Top Ten European Involvement Announced Deals

    Any Asia (ex-Japan) Involvement Announced (AD25)

    Thomson Reuters Soultions for the Deal Making Community 23

    Mergers & Acquisitions Criteria Summary

    Any EMEA Announced Fairness Opinion

    15

    14

    Any Nordic Involvement Completed (AF44)

    21

    Fairness Opinion Rankings

    Criteria Summary

    21

    Any USAnnounced Fairness Opinion 21

    Any Americas Announced Fairness Opinion 21

    20

    20

    Any South Korea Involvement Completed (AF58)

    https://www.thomsonone.com

  • WORLDWIDE DEAL MAKING UP 3%, NUMBER OF DEALS FLAT - Worldwide M&A activity totaled US$2.4 trillionduring the first nine months of 2017, a 3% increase compared to the first nine months of 2016. Deals with a valuegreater than US$1 billion totaled US$1.5 trillion, flat compared to last year's first nine months. By number, dealsgreater than US$1 billion increased 9% compared to a year ago. Overall, 35,360 worldwide deals were announcedduring the first nine months of 2017, flat compared to a year ago.

    DEAL MAKING DOWN 3% FROM Q2'17 - The value of worldwide M&A announced during the third quarter of2017 totaled US$819.7 billion, a decrease of 3% compared to the second quarter of the year (US$845.3 billion), buta 2% increase compared to the second quarter of last year (US$806.4 billion).

    OUTBOUND US AND INTRA-EUROPE M&A POWERS CROSS-BORDER M&A Powered by increased levelsof outbound M&A from acquirors based in the United States and intra-Europe M&A activity, cross-border M&Aactivity totaled US$943.3 billion during the first nine months of 2017, accounting for 39% of overall M&A volume andthe highest first nine month tally in two years. China Outbound M&A totaled US$121.2 billion, a 27% declinecompared to last year's record first nine months.

    EUROPEAN M&A UP 29%; UNITED STATES DEALS DOWN 12% - M&A activity for European targets totaledUS$629.3 billion during the first nine months of 2017, an increase of 29% compared to the level of activity seenduring 2016. With US$901.0 billion in announced deals during the first nine months of 2017, United States M&A fell12% compared to a year ago while the number of United States deals increased by 18% the largest first nine

    Worldwide M&A Up 3% to US$2.4 trillion l Number of Deals Over US$1 billion Up 9% l European Deal Making Up 29% l China Outbound M&A Falls 27%

    Global Deals Intelligence Worldwide Completed M&A by Region - Imputed Fees

    First Nine Months 2017 FINANCIAL ADVISORS

    MERGERS & ACQUISITIONS REVIEW

    $2

    $3

    $4

    $5

    Impu

    ted

    Fees

    (US

    $b)

    Americas EMEA Asia Pacific Japan

    12% compared to a year ago, while the number of United States deals increased by 18%, the largest first ninemonths, by number of deals, since 1996.

    ENERGY & POWER, INDUSTRIALS, REAL ESTATE LEAD SECTOR MIX - Deal making in the Energy & Powersector totaled US$369.8 billion during the first nine months of 2017, an increase of 7% compared to 2016 levels,while Industrials M&A increased 25%. Real Estate deal making accounted for 12% of overall M&A activity, whileTechnology M&A accounted for 10%. Materials and Technology M&A registered the steepest year-over-yeardeclines, down 46% and 28%, respectively.

    COMPLETED M&A ADVISORY FEES INCREASE 20% - Estimated M&A advisory fees from completedtransactions totaled US$27.4 billion during the first nine months of 2017, a 20% increase from 2016 levels.

    Worldwide Cross Border Volume Worldwide Announced Buyside Financial Sponsor Activity

    $78.9$16.6 $37.9

    $67.6 $58.4$116.6

    $155.1 $162.4$77.6

    $128.5

    $80.8

    $24.9$61.0

    $87.8 $83.1

    $80.1

    $117.3 $136.8

    $148.2

    $167.7$58.4

    $36.1

    $73.6

    $72.8 $98.0

    $79.5

    $138.5$165.2

    $129.3

    $197.3

    $36.1

    $53.7

    $90.5

    $105.5 $97.4

    $114.8

    $113.9

    $239.7

    $139.39.2%

    5.6%

    10.0% 11.6%

    14.0%16.4%

    16.9%

    15.8% 15.0%

    20.3%

    0%

    5%

    10%

    15%

    20%

    25%

    $0

    $100

    $200

    $300

    $400

    $500

    $600

    $700

    $800

    2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

    % o

    f Glo

    bal M

    &A

    Ran

    k Va

    lue

    (US

    $b)

    Q4 Volume (US$b) Q3 Volume (US$b) Q2 Volume (US$b) Q1 Volume (US$b) % of YTD Global M&A

    $0

    $1

    3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15 3Q15 4Q15 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17

    $258.2$113.6 $176.0

    $234.3 $173.7 $130.5$239.7 $268.2 $299.0

    $319.8

    $368.1

    $112.1

    $203.8$249.1

    $273.1

    $165.1

    $382.8 $337.6 $282.1$311.5

    $326.0

    $147.0

    $274.3$205.9

    $203.4

    $180.5

    $314.6$420.2

    $339.2$312.1

    $156.0

    $165.9

    $258.6 $195.1 $249.6

    $222.7

    $306.4

    $462.3

    $476.1

    40.2%

    26.9%

    38.0%

    35.2%38.1%

    28.3%

    38.5%34.8%

    38.9% 38.7%

    0%

    5%

    10%

    15%

    20%

    25%

    30%

    35%

    40%

    45%

    $0

    $200

    $400

    $600

    $800

    $1,000

    $1,200

    $1,400

    $1,600

    % o

    f Glo

    bal M

    &A

    Ran

    k Va

    lue

    (US

    $b)

    Q4 Volume (US$b) Q3 Volume (US$b)

    Q2 Volume (US$b) Q1 Volume (US$b)

    % of YTD Global M&A

    https://www.thomsonone.com Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables

    2008 2009 2010 2011 2012 2013 2014 2015 2016 20172008 2009 2010 2011 2012 2013 2014 2015 2016 2017 1

  • Western Europe

    Mergers & Acquisitions

    Jan 1 - Sept 30 Scorecard: Worldwide Completed M&A Jan 1 - Sept 30

    First Nine Months 2017 | Mergers & Acquisitions | Financial Advisors

    1/1/2017 - 09/30/2017

    31,924.6

    634 237 9

    Worldwide12,418

    No. Deals

    No. Deals

    Rank Val US$m

    2,435,275.1

    1/1/2017 - 09/30/2017 1/1/2016 - 09/30/2016

    1343,935.3

    5,262.9107163

    1,057,029.4

    5,955.8

    1,163,023.7

    Target Region/Nation

    Mexico

    462,704.0125,258.5

    85

    35,838.0

    4,586.2

    1,023,543.7

    61,374.1

    1,092,507.7

    Rank Val US