Q1 2015 M&A FA Cover.ppt - Thomson Reutersdmi.thomsonreuters.com/Content/Files/2Q2015_Global_MandA_Financi… · mergers & acquisitions review reuters / lucas jackson mergers & acquisitions

MERGERS & ACQUISITIONS REVIEWREUTERS / Lucas Jackson

MERGERS & ACQUISITIONS REVIEWFINANCIAL ADVISORS

First Half 2015

Any New Zealand Involvement Announced (AD39)

Any New Zealand Involvement Completed (AF46)

Japan M&A

Americas Deals Intelligence

M&A Financial Advisory ReviewFirst Half 2015 | 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

3

6

6

11

12

11

Worldwide Announced (AD1)

20

10

18

Any Japanese Involvement Announced (AD19)

2

2

Table of Contents

1

20

2

11

Fairness Opinion Rankings

Worldwide Announced Fairness Opinion

11

Any Americas Involvement Announced (AD49) 7

US Target Completed (AF2)

6

US Target Announced (AD2) 7

Any Americas Involvement Completed (AF55)

13

12

Any Italian Involvement Announced (AD36)

Any Nordic Involvement Announced (AD37)

Any Italian Involvement Completed (AF43)

20

20

Top Ten US Announced Deals20

15

Mergers & Acquisitions Criteria Summary

Any EMEA Involvement Announced (AD47)

European Deals Intelligence

Any Benelux Involvement Announced (AD40)

8

8

7

Any German Involvement Completed (AF42)

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)

Any Benelux Involvement Completed (AF47)

10

Any US Involvement Completed (AF48)

Top Ten Any Asia (ex-Japan) Involvement Announced Deals 15

7

8

9EMEA M&A

Any US Involvement Announced (AD41)

Any Japanese Announced Fairness Opinion13

Asia Pacific (ex-Japan) M&A

Asia Pacific (ex-Japan) Deals Intelligence

20

21

21

22

21

20

13

13

Regional Contacts

Criteria Summary

Any EMEA Announced Fairness Opinion

14

Any Asia Pacific Announced Fairness Opinion

8

16

16Any Australian Involvement Announced (AD24)

9

Top Ten European Involvement Announced Deals

Thomson Reuters Soultions for the Deal the Deal Making Community

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

20

15


Any Americas Announced Fairness Opinion

Any USAnnounced Fairness Opinion

14

Any Nordic Involvement Completed (AF44)

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WORLDWIDE M&A UP 40%, STRONGEST FIRST HALF FOR DEAL MAKING SINCE 2007 - Powered by a 48%increase in the number of deals over $5 billion, which account for record-breaking 50% of announced M&A value,worldwide M&A totaled US$2.2 trillion during the first half of 2015, a 40% increase from comparable 2014 levelsand the strongest opening half for worldwide deal making since 2007. Sixty-two deals with a value greater than $5billion were announced during the first half of 2015, their combined value more than double the level seen duringthe first half of 2014.

NUMBER OF DEALS RISE 3% - Almost 20,500 worldwide deals were announced during the first half of 2015, a 3% increase compared to last year. Second quarter 2015 M&A totaled US$1.4 trillion, a 63% increase by value and8% by number of deals compared to the first quarter of 2015, marking the first trillion-dollar plus quarter since thesecond quarter of 2007.

UNITED STATES & ASIA PACIFIC M&A HIT ALL-TIME RECORDS - M&A activity for United States targets totaledUS$1.0 trillion during the first half of 2015, an increase of 60% compared to the level of activity seen during the firsthalf of 2014 and the strongest opening half for US M&A since records began in 1980. With US$575.7 billion inannounced deals during the first half of 2015, Asia Pacific M&A also registered the strongest first six month periodfor deal making in the region since records began.

ENERGY & POWER, HEALTHCARE, & TECH LEAD ACTIVITY - Driven by oil & gas M&A, deal making in theEnergy & Power sector totaled US$361.9 billion during the first half of 2015, an increase of 72% compared to 2014

Worldwide M&A Up 40% l Strong Gains for Large Cap Deals, Energy and Healthcare M&A Drive Strongest First Half Since 2007 l Goldman Sachs Top Advisor

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

First Half 2015 FINANCIAL ADVISORS

MERGERS & ACQUISITIONS REVIEW

$2

$3

$4

$5

Impu

ted

Fees

(US

$b)

Americas

EMEA

Asia Pacific

Japan

e gy & o e secto tota ed US$36 9 b o du g t e st a o 0 5, a c ease o % co pa ed to 0levels, while Healthcare and Technology M&A increased 58% and 81%, respectively. With US$174.5 billion inannounced deals during the first half of 2015, the Financial sector saw the only year-over-year percentage decline,down 5% compared to the first six months of 2014.

CROSS BORDER M&A UP 20% – Cross Border M&A activity totaled US$760.3 billion during the first half of 2015,accounting for 34% of overall M&A volume and a 20% increase over first half 2014 levels. Cross border M&Aaccounted for 34% of total M&A activity during the first half of 2014.

COMPLETED M&A ADVISORY FEES UP 6% - According to estimates from Thomson Reuters/FreemanConsulting, M&A advisory fees from completed transactions totaled US$13.9 billion during the first half of 2015, a8.6% increase from the comparable period in 2014.Worldwide Cross Border Volume Worldwide Announced Buyside Financial Sponsor Activity

$153.4$203.3

$78.4$23.0 $32.1 $65.9 $64.8

$115.5$157.7 $176.9

$176.4

$319.4

$83.6

$24.7$60.5

$87.7 $76.9

$80.3

$119.9

$236.1

$160.6

$164.0

$56.2

$36.3

$79.0

$70.7 $93.2$82.9

$138.2

$280.7

$119.7

$35.7

$52.4

$101.5

$106.4 $94.4

$113.0

$120.2

21.3% 19.5%

8.8%

6.8%

11.2%

13.2% 12.9%

16.7%16.0% 18.4%

0%

5%

10%

15%

20%

25%

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

% 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

2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15

$280.8$405.5

$258.3$113.4 $175.6 $234.8 $172.0 $132.8

$242.1 $286.0

$273.5

$640.8

$363.5

$111.4$203.7

$247.4$272.1

$166.4

$391.3$474.3

$253.9

$371.3

$326.1

$148.1

$271.8$204.6 $203.3

$177.8

$318.4

$404.8

$430.9

$154.2

$166.9

$261.3 $196.5 $251.5

$236.1

$307.0

33.6%

44.8%

38.3%

27.1%

37.5%35.2% 35.3%

30.3%37.5%

33.9%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

$0

$200

$400

$600

$800

$1,000

$1,200

$1,400

$1,600

$1,800

$2,000

% 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

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2006 2007 2008 2009 2010 2011 2012 2013 2014 20152006 2007 2008 2009 2010 2011 2012 2013 2014 2015

1

Western Europe

Mergers & Acquisitions

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

First Half 2015 | Mergers & Acquisitions | Financial Advisors

1/1/2015 - 6/30/2015

21,265.9

575 697 3

Worldwide6,259

No. Deals

No. Deals

Rank Val US$m

1,117,789.9

1/1/2015 - 6/30/2015 1/1/2014 - 6/30/2014

8410,588.5

5,505.074106

1,102,713.4

6,027.2

733,836.2

Target Region/Nation

Mexico

440,493.7186,634.9

37

14,067.7

2,169.2

630,397.4

50,898.5

673,432.4

Rank Val US$m

43,034.9United States

Caribbean

9,694.1

Brazil

Worldwide 20,4752,240,221.8

1,222Switzerland

North America

484,725.1

France

Chile 1,995.7

Asia Pacific

United Kingdom

728

Middle East

7,751.9Sub-Saharan Africa

Canada

Western Europe25,087.7

509,812.8

23,806.5

429244

68,337.9146

1,215

12,609.8

Americas16,918.0

5 639

95

5,687

Central America

South America48,343.8

1,465

1,008,957.9

48

1,057,301.7

17,905.2

4,959

193.3335 429 2 4 880

18,751.571 6

28,489.8223

Europe

70

Africa/Middle East

4,750.9306

624

463,853.0

North AfricaMiddle East

9.96,798296

10,102.81,063.2

8,549.5 -9.3

183

Eastern Europe

1,070

6,838

84,397.2120,964.5

55,004.4

5,3315,33323,359.3

▲

▲

228

10.0

-77.6

1,507

66

1,184-43.5

▼

▲United Kingdom121.1

▲7.4Europe

56,828.3Republic of Irelan▼

350,665.3

▲France▲

Eastern Europe

88,652.767

Asia Pacific33,338.5

367 214 9

4,591

2 680

1,038

100 0

34,887.7

1,1222 768

5,849

6,939.327,477.6 1,010

1,202200,346.7

▲-60.0

▲

4,456

235,234.5

21.3

5,658▼

1,047

45182

47,096.4

1,258

-38.0

183 637 6

402

364,634.1 55.013,968.7

45

6,778.1

29,787.2

41

417

3,480.28,240.4

▼Sub-Saharan AfricaNorth Africa

30.7

189 10,915.0

168▲ 152

▼

6,772.3

10,768.0623

Chile-16.4 ▼ 23,668.439.2

Africa/Middle East

871

2,378.5226

12.3 Canada 35,755.1▲26,008.6

Brazil 22,598.9

▲

50

5,8394,968

▼-40.7

-8.0▼

▲

432 -64.8

15,05914,751

Caribbean386.4

▲

60.1

50.340.4

635,601.5 12.3

78.27840

33.05,348

5,024.83,293.73,478.1

1,595,892.3

Rank Val US$m

536,430

19,852

No. Deals

28713,883.6▲

80Central America▲

5,270▲

Americas

76.1 Mexico668,691.3

6357.0 4,832

▲4,877

1,486,620.1

Rank Val US$m

% Change in Rank Value

South America

4,263

330

75.769

Target Region/Nation

North America

45

50,028.7

No. Deals

8,956.010,227.7

8,945.8 4,921.5

632,936.2

188

569United States 537,895.9

3,805.0

▼4,210

▼

-48.7▲▼▼

▼▼

17,884.135339,358.3

26.4

-20.5-37.5

186 ▲

81.813.7

-28.5

210.5

-33.9

▲

17.7667

1/1/2014 - 6/30/2014

587,924.7 ▲▲

▲▲

% Change in Rank Value

▲▲

Worldwide Announced M&A Target Industry by ValueScorecard: Worldwide Announced M&A

74▲

718.988.275.0 ▲

▲▲

16.2%

15.1%

10.6%

9.8% 7.8%

7.6%

7.5%

7.4%

6.4%

4.4%3.9%3.3%

South East Asia

South Korea / South Korea 24,066.1

Pending

575,697.3

6/3/2015

5,086.5

Energy Transfer Equity LP

Target (% Sought/Acquired)Rank Date Date Effective

Singapore

581

Pending

Australia

Hong Kong

1,155

55,698.6

24,121.0

4/8/2015

Asia-Pacific

2,697.6

49757,893.3

13,682.9843196

5,639

Pending

-17.3509325.5

Malaysia

2,615

6/3/2015Pending United States / United States

5/8/20156/3/2015

Pending

1/9/2015

Pending

5/26/2015

3/25/2015

Pending6/19/2015

36,491.3

Enbridge Inc-Liquids (100%)35,171.64/8/2015

Hong Kong / Hong KongShareholders

Pending

Mylan NV

SK Holdings Co Ltd (58.2%)24,792.1

Shareholders

SK C&C Co Ltd

Anthem Inc

Avago Technologies Ltd

Enbridge Income FundUnited States / Ireland-Rep

46,386.8United States / Switzerland

The Williams Cos Inc (100%)

45,410.8

48,324.4

Cheung Kong(Holdings)Ltd

United States / United StatesBG Group PLC (100%)

Hong Kong / Hong KongBroadcom Corp (100%)

Perrigo Co PLC (100%)

Kraft Foods Group Inc (100%)

35,632.4

Monsanto Co

50,575.2

▼526

Cheung Kong (Hldg) Ltd- Ppty (100%)

34,284.1

5/28/2015

Time Warner Cable Inc (98.5%)70,304.354,716.5

Netherlands / United Kingdom

HJ Heinz Co

▼

Hutchison Whampoa Ltd (50.04%)

AbbVie Inc

81,009.7Charter Communications Inc

765

United States / United States

Syngenta AG (100%)


United States / United StatesMylan NV (100%)

Pending

12,071.9South AsiaCentral Asia -81.8

Pending

6/22/2015

6/20/2015

28,388.4

▼

Australasia

1,853276

161,162.1

505

2,231.0 Papua New Guin▼

South Asia 28,388.4

-32.3

▼

North Asia

94,481.9ChinaHong Kong

13,536.2

270,656.2

23,129.1

▼

20,262.0872

158

81

230 Malaysia

▼

▼

17.5

210858

20,209.1

-31.867

North AsiaChina 297,876.6

481,611.0

117,185.5

1,081

14,588.9

233,529.5

923.7

2,824238

3,710

25

27,543.4342

▼2,647.9

28,191.9Japan33

▲

Top Fifteen Worldwide Announced Deals

3,853.8Japan

5,860.2

335,429.2 4,880

593

-54.0

-32.0

47,387.2

35,464.3

68971.6

South East Asia

11.750,529.5

▲Australasia

▲53,458.8

52632,004.5

353

Asia-Pacific 367,214.9415▲51,846.5

78,376.6

Central Asia17,219.2

20

Rank Value (US$m)Acquiror

Australia

496

▲

-17.8

▲84.8106.2 ▲

-48.633,529.122

99,195.7

366.322.7

653

146 6.4

170

-31.3

1,3381,482

Singapore5,022.5

124

152,573.5▲

207.749,586.6

12,723.6

147737

45.2172.9

22.723,129.1 496

2,680 100.0

1353,459.5

46,835.0

2,768

43,879.6

2.77.9437

509183,637.6

52,059.9

▲

▲

Jan 1 - June 30 2015

Teva Pharmaceutical Industries

Intended

4/21/2015

4/20/2015Canada / Canada

Royal Dutch Shell PLCAcquiror / Target Nation

Cigna Corp (100%)Israel / United States

Consumer Staples / Food and Beverage

Materials / Chemicals

Healthcare / Pharmaceuticals

Real Estate / Other Real Estate

Telecommunications / Telecommunications Services

Healthcare / Healthcare Providers & Services (HMOs)

High Technology / Semiconductors


-48.3

▲▲

▲▼▲

▲▲

Target Macro / Mid Industry

1,521.0New Zealand

Baxter Intl-Biopharmaceuticals (80.5%)3/4/2015

6/15/20155/26/2015Pending

Pharmacyclics Inc (100%) United States / United StatesUnited States / United States

19,917.018,232.5 Healthcare / Biotechnology

Energy and Power / Oil & GasMedia and Entertainment / Cable

Energy and Power / Oil & Gas

Healthcare / PharmaceuticalsEnergy and Power / PipelinesEnergy and Power / Oil & Gas

Energy and Power Healthcare High Technology

Real Estate Financials Materials

Media and Entertainment Industrials Telecommunications

Consumer Staples Consumer Products and Services Retail

Government and Agencies

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Deutsche Bank

Anglo Chinese Corp FinanceRobey Warshaw LLP 20

83,785.787,409.5

3.6

▲97,086.8 4.3

2 965 255 9

3.94.3

3.782,106.781,009.7

5.21.3

8614

117,314.5

1.3

Somerley

131

Centerview Partners LLC9

1711

19

17

Greenhill & Co, LLCEvercore Partners

20

12

15

810

10

11

46

-3

-0.2

2

288,137.5CitiCredit Suisse 6

-290.6

0

▲

Worldwide Announced (AD1)

▲4.9

▼

0.89.0

3Morgan Stanley1

JP MorganGoldman Sachs & Co

▼

2.4

▲▲

-25.5

7.7

6.5

299,807.1 13.47

6

Morgan Stanley318,682.80.5

14.220.0

687,014.5

21 101,991.913

526,276.2

54.2

3.7

2.8

▲

3.61

2.7139

▲

6-21

0.0 00.7

28

▼▲

0 4▲▼

▲-4.5

0.0

0.2-80.230 0.1

45 ▼160 342 197 0 135 4 1 0 0 0▲ Macquarie Group ▲0 6+10-1 ▼1.0138.442,363.5 1.12.9 ▲

-▼

22▼20

-21▲2.9

2 826

57,190.9

3.314

China International Capital Co

21

19 48,685.9Wells Fargo & Co

35.6+100.4

▲0.115

0.2

▲0.3

178.9 ▼1.4 0.6

23▲ 0.4

22.6-10 0.5

▲0.11.3

+11▼

▼▼

▲ 0.2

198.7▲ 3.9 55

5618▼ Evercore Partners 3.349,720.9 ▼

▲0.617

65,857.43.2

RBC Capital Markets

▲16 4.4

15

1386,029.6 5.814

13

▲ 15

Rothschild

Perella Weinberg Partners LPAnglo Chinese Corp Finance 5.8

67,908.9 4.6554*

72Somerley

6.190,494.424.7

307.90.8 -

0.7 ▼10▲

1.5

30▲

0.10.2

90.2

0+8 ▲

0.2 ▼

0.1 ▼

0.61.2

-120.1

▲

98.0

0.218

▲▲

1250.197,700.8

31 8.5

2.2▲

1.01.94.16.6

▲

8.77.1

-1.6▲

0.633

▼ ▼

▲269.5+1+5 133.2

0.8-9.3

▼-1 1.8

366.388 -24

▼447.0424.6 0.7250.7

▼6.612.6

▲

▼-9.6

-13

▼▼ 0.19.2 67▼ Barclays ▼▼ 89

137,410.0▼ 0.5

0.2215,075.96.6▼ -6255,415.6 147

▼1.3▼

3.20.6 -20

▼▲

3.1

-8 421.80.60.1

▲107

9014.57612 205,129.0Lazard

285,264.9▲1.0

0.7 ▲7.8919.3

0.8

0.72.0

13.8

4 343,396.8 ▼

-11.1▲

23.1

17.2501.3601.1

107 +5

▼

▲0.7

-18129 855.3

Sh (%)

# of Deals per Advisor


-13

Market2014 Rank

24.9

Fees173

US$m

-160.9-3.1

▲564,035.2Sh (%)Share Ch.

2 337.9

369,423.3▼ ▼

7.7

Market Rank Value Market2015 Rank

Rank Value per Advisor (US$m)

▼

MarketSh (%)


210

US$m DealsShare Ch.30.7

345

▼▼

0.5 CitiBank of America Merrill Lynch

-0.9

118

186

-5.3

102

-3.8

▼

21

▲108

4.4

-29

102

-2.9 0.6

0.4

0.0

▼

0 1

38Allen & Co Inc

▼

Rothschild

21

8.3

12.9

18

4.6

284,422.4

146,404.4

9

96,290.91622

LionTree Advisors LLC

UBS

Guggenheim Securities LLC

202,430.015185,104.5154,580.4

HSBC Holdings PLC

143

129,482.8

Market

Barclays 8

3

Lazard45

Bank of America Merrill Lynch

# of

19.2

179▲

▼

▼152 0.7

1

-22

12.7

23.5

7 5

4

-3.1

2 448,995.8

Rank ValueFinancial Advisor

98-3.7

1

Change in

Goldman Sachs & Co# of Deals-27

Jan 1 - June 30

0.9571,108.5 0.4 0.9

2015 Rank


1 ▼Sh ($)

Jan 1 - June 30

Worldwide Rankings

2014 RankFinancial Advisor Deals

Imputed Fees (US$m)

-0.2

JP Morgan

-2.4

65

4.05 0.0+30

6

31 0.2▼0.3

+9

110.1

6639

-

62

20

Credit Suisse

+3 Centerview Partners LLC

▼HSBC Holdings PLC

-20

17

186,999.259-3 UBS

▲12

126,000.610

▲

8

11-21

-17

▼

-51▼▼

7Deutsche Bank

0.10.20.30.5

+9-23

▲3.16.2 ▲

# of DealsMarket Advisor

▼▼

# of

Worldwide Completed (AF1)

Market

2.6

3.0

3.6

0.34.3 0.1

79120

6.9

Market

1,469.5

Change in

1.2Share Ch.Sh (%)

10.6

†Note: Industry Totals include multiple competing bids for the same target.

* tie

Jan 1 - June 30 2015

128,609.9 38.0

16

Morgan Stanley

1

16 22.732

220,115.9

Goldman Sachs & Co

25.3Credit Suisse28.3

JP Morgan

3237,436.3

138,217.7

60,042.5

JP Morgan

Industry Total†25

JP Morgan

RBC Capital Markets 2.4

39,729.6Moelis & Co 38,684.4

1.8BMO Capital MarketsMacquarie Group

1.7

42,199.454,604.3

2.965,255.9Somerley 202422

-5-0.3

1.9-26

26▲0.2

2850

13

1,341

53

Top WW Announced M&A Advisors by Target Industry

40.4%

46

Mkt.

0.5-0.2

-0.4

0.4▼▼

0.1

33.0%

32,226.739,393.1

19

16▼

▼

100.01,486,620.1

-7▼

No. Deals

+6232,240,221.8

63.0% ▲

Rank

232425

361,857.4

▲

▲20,475

Share

Top Worldwide Announced M&A Advisors by Transaction Size (AD1)

1.5%

BNP Paribas SA

▼▼

Industry % Change from Same Period Last Year

Nomura

Industry Total

Jefferies LLC18

22

-4.9%▲

0.2 -9 Zaoui & Co 30,831.8124

▲

4

-2.0%▼

2.1 2.0 ▲-0.5-0.1 ▼

2.2 ▼ 0.4

▲

+2 0.3+7

34.8

▼

▲ 196.8

14,751

8.6%

13,878.5▲

-3080.0 0.3

-▼

100.0

0.81.4

0.0▼▲

0.4113.359

0.339 0.30.7-4 ▼

45

0.4-18

▼-16▼

0.341,421.642,197.0 -135.4 1.0

99.90.0

▼-0.42.8▲ Macquarie Group ▲0.6+10 22 2.821

Goldman Sachs & CoBank of America Merrill Lynch

3

2

3

27.3

174,465.0

1

0.1

Jan 1 - June 30

20 36,237.6 3

13 39,044.238,465.3

Citi

43,017.1Financials

60,024.0


338,258.1Healthcare

Real Estate

▲

HSBC Holdings PLC

40.9

1

53,979.4

2

Citi

125,890.5

67,194.6

106,759.0

24

104,252.1

Rank Val US$mEnergy and Power

111,261.0Morgan Stanley

21

High Technology

Goldman Sachs & Co

Industry % Change from Last Quarter

37100.0

23 3528

1,351

59,668.8

15

Industry % Change from Last Quarter -6.3%

12

20.8

1,498

7 27.119.5

2,296 22.422.1

14

Credit SuisseBank of America Merrill Lynch

11

3,224

3

17

23

21

28.8

7.9%3.1%

24 31.62

30.8

1

0.3

19 34.8

▲

2.766

▼

307.32 237.86

307.30 217.49

143.09 136.61 173.27 127.05

49.42 148.61

106.26

169.7

173.9 138.0

72.1

84.8 36.5 36.5

19.9

36.5 48.3

78.4

78.4

78.4

78.4 78.4

78.4

70.3 70.3 54.7

54.7

50.6

50.6

81.0

81.0 81.0

81.0

$0

$100

$200

$300

$400

$500

$600

$700

$800

Goldman Sachs & Co

Morgan Stanley

JP Morgan Bank of America

Merrill Lynch

Lazard Credit Suisse Citi Barclays Centerview Partners LLC

Deutsche Bank

UBS

Ran

k Va

lue

(US

$bil)

BG Group PLC/Royal Dutch Shell

Mylan/Teva Pharmaceutical Industries

Kraft Foods Group/HJ Heinz Co

The Williams Cos/Energy Transfer Equity LP

Time Warner Cable/Charter Communications

Other Top 15 Deals

All Other Transactions


Jan 1 - June 302015 UP

2015 DOWN 2015EMEAAmericas

Worldwide M&A Matrix

25.0x

Japan

22.9x

Asia ex. JapanEurope

11.6x

8.8x

11.3x

16.7x20.1x

19.7x

12.0x

16.7x

14.8x

Exit Multiple Matrix - Average Rank Value / EBITDA

Canada


13.7x

11.9x

USA

9.1x

11.5x 12.7x

16.0x

Telecommunications

Real Estate

Media and Entertainment

Retail

12.9x

10.8x

12.3x

8.5x

-

28.6x 25.5x

9.2x

-

5.7x

16.0x

-

18.1x

12.8x

-

-

Industrials 13.4x12.7x

11.8x

18.1x 17.1x

World

13.7x 11.1x

16.8x

8.9x

27.6x

9.2x

12.8x

21.0x

18.3x

12.2x

UK

12.7x

5.7x

35.7x

5.9x8.2x

13.3x20.6x

13.3x 5.8x

8.8x

13.6x

16.7x

-

10.2x

-

3.8x

-6.2x

35.7x

7.8x

25.9x 23.3x24.6x

24.0x17.2x 19.6x

17.8x17.8x

19.6x16.6x 13.6x

14.0x 14.6x

14.2x14.2x19.6x

6.6x

11.4x11.4x 11.7x

12.0x4.6x

11.6x

15.8x14.4x

13.5x 13.5x

10.1x

18.0x

11.6x

12.2x

11.3x

15.0x14.8x

15.5x10.7x 15.0x

12.9x

10.1x

14.6x

7.0x26.2x

15.0x8.2x

13.8x

16.4x 19.4x5.7x

8.2x 12.3x

8.7x10.2x

10.2x 9.0x

11.4x 5.2x

15.4x

13.6x

19.7x12.6x 9.0x

7.7x

25.0x-

9.0x13.8x

9.5x

13.6x

19.8x 14.1x17.3x

19.3x 21.0x

19.8x

11.9x10.6x

9.4x

8.4x

10.5x

15.3x 9.0x

-14.4x10.7x

12.8x

15.6x 16.5x

-13.6x

13.8x

16.9x

12.9x

21.0x -

13.6x

13.5x

15.9x

11.0x

17.2x

14.6x 10.1x

9.3x

-

12.6x

22.4x11.4x10.1x 12.6x 10.9x

-14.2x

33.4x20.5x

7.5x

25.3x

14.2x

10.7x 10.1x

9.0x

12.0x

20.7x

Energy and Power

18.2x

Materials

13.2x

12.2x

12.4x

Healthcare

14.0x

High Technology

12.4x

13.7x

10.4x 9.7x

Consumer Staples

Consumer Products and Services

Bid Premium Matrix - Average Premium to 4 Week Stock Price Jan 1 - June 30

* Using the valuations matrix you can analyze the average rank value to EBITDA and average premium to 4 week stock price prior to announcement by nation/region, which is indicated in the top row and broken down by target macro industries. * The data given refers to the time period 01/01/2014 - 06/30/2015 and all spinoffs, splitoffs, open market repurchases, exchange offers and equity carveouts are excluded. * The figures in red indicate a decline, while green indicates an increase, compared to the figures from the same time period last year listed in black. * Additionally, for Rank Value/EBITDA the data is capped at 50x and for average premium to 4 week stock price prior to announcement is capped at 100%.

Consumer Staples

25.627.3

32.8

World

37.045.8

26.6

7.6

22.138.9 25.1

-19.8

21.8

8.9

23.3

23.8

21.324.6

31.3

21.5

22.824.5

15.6

24.5

33.2

27.0

34.7

35.6

27.6 29.4

24.030.4

20.624.4

30.2 20.4

- -

-8.9

25.9

18.5

31.1 32.0

17.1

29.0

22.733.0

12.1

33.925.1 22.8

21.4

33.7 13.9

-27.747.8

46.6

29.7

Average Industry Total

23.5

31.314.8

27.4

17.217.531.3

9.6

30.9

2015 UP 2015 DOWN

20.521.3

26.8

Financials

24.0

13.8x

Retail

26.0

31.8

8.035.0 36.5

36.3

34.6

31.3

34.8

30.322.325.425.2

40.6

23.0

22.8

13.5

26.1

32.8


32.3

Telecommunications 23.9

Materials

26.2

47.7

25.9

Energy and Power

25.9

Average Industry Total

32.6

18.5

High Technology

Industrials

28.4

27.5

25.3

Canada

22.3

Healthcare

Consumer Products and Services

28.9

23.8

37.325.1

25.2

43.3

28.1

18.5

45.2

30.028.7

Americas

39.1

17.5

42.1

USA

11.6x15.2x 10.3x

-18.5

55.5

31.825.4

43.910.9

47.5

10.9

35.4

12.7x

18.4

25.3

20.9

25.3

38.5

18.9

24.6

7.225.6

18.9

19.3

12.0x 14.0x

30.5

23.3

37.3

14.6

Japan

17.4

Asia ex. Japan

21.0

20.2 24.930.5

60.6

16.4

52.4

EMEA

33.2

25.9

21 20.6

42.218.219.931.3

26.6

60.624.7

45.0

32.9

-

23.514.3

Europe

12.8x

24.0

28.8

39.0

29.6

27.9

31.9

23.3

-

23.9

16.0

22.7

55.5

3.5-

22.622.6

-

37.5

50.836.4

21.3

23.032.9

3.5

23.9

38.4

22.6

36.8

-

11.6

27.7

29.5

21.1

25.9

28.948.126.5

22.4

16.5

32.1

72.6

26.5

-

-

15.2

21.1

16.1

23.6

29.1

40.6 21.4

18.8

36.3

33.0

7.6x12.9x 14.7x18.1x 14.7x

2014

22.2

13.4x

18.419.8

13.7x

Real Estate 10.0

31.6 31.1

- -

19.9

22.0

35.8

16.5x

45.0

UK

-

14.8x15.5x



Worldwide Announced Rankings* - A Decade in Review

1

2

3

4

1

2

3

4

Goldman Sachs & Co

Morgan Stanley

JP Morgan


* League Table positions reflect consolidation within the banking sector. Rankings shown are as of the current quarter end in each calendar year

5

6

7

8

9

102006 2007 2008 2009 2010 2011 2012 2013 2014 2015

5

6

7

8

9

10

Ran

k

Lazard

Credit Suisse

Citi

Barclays

Centerview Partners LLC

Deutsche Bank


Consumer StaplesCenterview Partners LLC 54,716.5 1*

Goldman Sachs & Co 4,699.0 3

66,288.5

US Announced Advisors by Target Industry Jan 1 - June 30 2015Americas Deals Intelligence

Healthcare

Energy and Power

High Technology


Goldman Sachs & Co

LionTree Advisors LLCMorgan Stanley

Rank Val (US$m)253,856.9 103,446.199,304.4Morgan Stanley

JP Morgan

Credit SuisseCiti

BarclaysLazardCiti

JP Morgan

92,755.5155,389.3 100,517.884,988.942,397.2

125,566.3 58,866.756,942.647,404.6

12

1

Rank

123

Mkt.

467

No. Deals

39.115 7

7

900 27.33

29

8 10

83.14

6

76.8

448 8

Share

40.8

37.8345.4

36.5

120,087.8 99,780.492,234.783,398.1

23

1Goldman Sachs & Co

17

334 64.7

Americas M&AFirst Half 2015 | Mergers & Acquisitions | Financial Advisors

Americas M&A up 47% | Healthcare Volume Drives US Activity | Canadian Activity Rises 40%

7 54.7

Americas M&A volume in the first half of 2015 increased 47.3% over totals reached in the same period a year ago,accruing US$1.3 trillion in activity from 7,715 announced deals. Estimated fees generated from completed deals in theAmericas totaled US$10.1 billion, a 13% increase from fees earned in the first half of 2014.

US Targeted M&A also posted significant gains, rising 60.1% over announced M&A in the first half of 2014. US-targetedvolume accrued a total of US$1 trillion during the first half of 2015, driven by 4,960 deals.

The Healthcare sector led the US market, with deal volume totaling US$253.9 billion, accounting for a 25.2% marketshare. Energy & Power followed, accruing US$155.4 billion for a 15.4% share of the market. High Technology roundedout the top 3 sectors, with US$125.6 billion and a 12.4% share of the market.

Accumulating US$124.4 billion in transaction value, announced Canadian Involvement activity rose 40.2% over the totalsreached during the first half of 2014. Completed Canadian Involvement activity was down 5.3% compared to the sameperiod last year, accruing US$74.8 billion from 868 deals.

Asia ex. Japan targets enjoyed the highest average exit multiples in the first half of 2015 (18.1x), followed by the US (16.5x). Overall average multiples across industries saw a modest increase compared to the first half of 2014, with thebiggest increases coming in High Technology, which rose to 18.2x from 13.5x in the first half of last year.

46.9

7 69.5

1 4 7.1

82.5 1 Lazard 54,716.5 1* 82.5

193

US Target Announced M&A Target Industry by Value (US$ bil) Jan 1 – June 30 2015

Acquiror / Target NationTop Ten US-Target Announced Deals Jan 1 – June 30 2015

Target Macro / Mid IndustryTarget (% Sought/Acquired) Acquiror Rank Value (US$m)

Pending78,376.6

HJ Heinz CoUnited States / United States

1/26/2015

PendingMylan NV (100%)Pending

3/4/2015

Cigna Corp (100%)

Shareholders

Energy Transfer Equity LP

Date Effective

3/25/2015 Kraft Foods Group Inc (100%)

Pending Time Warner Cable Inc (98.5%)5/26/2015Rank Date

6/22/2015 The Williams Cos Inc (100%)

Pharmacyclics Inc (100%)

4/30/2015 Regency Energy Partners LP (100%)

4/21/2015Pending

5/26/2015

Anthem Inc6/20/2015Israel / United StatesTeva Pharmaceutical Industries

United States / United States36,491.348,324.4

United States / United StatesAbbVie Inc

United States / United States18,232.5United States / United States18,222.9

19,917.0

Energy Transfer Partners LP

Pending

Baxter Intl-Biopharmaceuticals (80.5%)

US Buyside Financial Sponsor Activity

Pfizer Inc

6/15/2015

16,770.8

Pending


2/5/2015 Pending Hospira Inc (100%)




5/28/2015

Charter Communications Inc

Avago Technologies LtdBroadcom Corp (100%)

Media and Entertainment / CableEnergy and Power / Oil & Gas

High Technology / Semiconductors

50,575.2Consumer Staples / Food and Beverage


70,304.354,716.5

Healthcare / Healthcare Providers & Services (HMOs)


Healthcare / PharmaceuticalsHealthcare / Biotechnology


25.2%

15.4%

12.4%11.9%

6.6%

6.5%

4.6%

4.5%4.1%

Healthcare Energy and Power High Technology Media and Entertainment

Consumer Staples Real Estate Financials Consumer Products and Services

Materials Industrials Telecommunications Retail


60.6 112.7

17.5 28.4 76.0 87.1

125.5

110.1

192.5

28.9 34.2 33.9 34.8

33.3 47.7

135.3 86.1

91.3

18.5

13.6

28.2 26.8

53.5

43.9

53.4

170.8

27.6

5.0 39.4

64.4 56.2

60.5

48.8

55.5%52.6%

27.5%

39.5% 41.4%46.0%

52.5%54.6% 44.2%

63.2%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

-

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Rnk

Val

US$

bil

Q4 Volume (US$b)Q3 Volume (US$b)Q2 Volume (US$b)Q1 Volume (US$b)% of WW FS Volume YTD

https://www.thomsonone.com Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables6

Deutsche Bank Centerview Partners LLC



MarketMarket Change in Deals

Any Americas Involvement Completed (AF55)

MarketUS$m

# of Deals per Advisor Rank Value per Advisor (US$m)Market

Imputed Fees (US$m)

Americas Rankings

Rank Value per Advisor (US$m)2014 Rank

# ofRank Value Market2015 Rank Share Ch.

▲3.1Sh (%)

AdvisorRank ValueFinancial Advisor Sh (%) Share Ch. DealsUS$m

394,708.3 ▲30.5

Market

Jan 1 – June 30Any Americas Involvement Announced (AD49) Jan 1 – June 30

124

# ofFinancial Advisor

Market

-26 ▼

MarketSh (%) Sh (%)Sh (%) # of Deals Fees

1,193.7 11.9Share Ch.

1.9 -41 ▲41.0 2.61 368,976.6# of Deals

2015 Rank

2014 Rank

Change in

29.3 5.0Goldman Sachs & Co▼128 1.7Goldman Sachs & Co 1 411,507.6 -7.5

3▼1

Morgan Stanley3 5 369,819.3

21.42 -2 ▼ ▲748.4 0.4▼ 100479.5

7.4▼1.1▼

34.8 -1.3Bank of America Merrill Lynch 232,042.7JP Morgan

3-820.6

1.610.5

0.9▲

Citi25.827.4 73

-6106+1 ▲

2100 1.3 -7.13

313,287.5

Credit Suisse 4 6 277,426.7JP Morgan

▲0.8-13

23.7 12.7▼▼ 4.8

▲5 7 274,381.5

0.6

20.3 6.1 ▲▲ 72 ▼ 96.0

▼ Morgan Stanley 54 4.01.2 +13 ▲ 400.5213,224.7 76

1.84 182,812.0 20.3 -12.5 1.5 +6 ▲99▼Lazard 6 4 272,930.4 20.2

652.9 ▲ 72

Barclays0.9

771.4 ▲0.8 -34 7.7-9 ▼ ▼-11.5Barclays 6 5 0.6▼ 359.4

11 139,841.3 ▲ 314.0▲162,925.0

7Bank of America Merrill Lynch 7 2 268,061.6▼68 1.1 -11 3.6

▲-14.5 ▼19.9

18.1-20 ▼79 1.0 Deutsche Bank ▲

Citi 8 8 253,767.5 18.8 2.9 0.6▼4.7 291.915.5 7.0 3.1 0.90.9 +1058

12 127,167.7 14.1 5.7 1.0 -18▼0.3

▲ 6171 0.9 -15 ▼ Lazard 8

10 9 130,986.9 9.7

▼Centerview Partners LLC 9 10 202,430.0 15.0

-1.0 ▼ 6421

10-2 ▼Credit Suisse7.0 ▲ 9

0.8-2 ▼ ▼ 282.0

16 97,700.810 105,780.6 1.0 -11

10.9 7.5▲ 6211.8 1.8 2.8 1.0▲ 18 ▲

Guggenheim Securities LLC 11 55 117,272.3 8.7 UBS 112.7 1.70.3 +2 ▲ 269.5

▼ 33 1.3 0.46 69,853.3 7.8 -15.4 0.5 +3 ▲ 126.1 ▼Evercore Partners 12 12 100,994.6 7.5

16 0.2 +8 ▲2.7 ▲ 51 0.78.3 ▲

Perella Weinberg Partners LP 12-22 ▼ 31 67,687.5 0.9 0.1▼ 93.3▲ 7 0.1 -7 ▲LionTree Advisors LLC 13 85 96,290.9 7.1

7.5 6.20 -5 0.1 24 49,651.3Rothschild 13 ▲

Greenhill & Co, LLC 14 14 95,587.3 7.1 2.7 ▲7.0 ▲ 5.5 3.9 1.2 0.10.7 +7 ▲ 123.5▲ 45

0.8 -9 1.6 0.8▼ 157.2Wells Fargo & Co 15RBC Capital Markets 14

▲ 304.7 1.913 45,428.923 0.3 +8 ▲ ▲ 515.0 0.3 ▼

Allen & Co Inc 15 25 87,409.5 6.5 4.4 ▲ ▼138.425 0.35 0.1

UBS 16 13 83,254.90.5 -7

4.3 0.06.2▼

1.5 ▲+3 ▲-10 ▼ Evercore Partners 16

1.4 0.214 38,674.118 42,363.5

▼RBC Capital Markets 17 15 52,912.0 3.9 -0.4 ▼

- 42Jefferies LLC 17

1.6 0.90.7 -23 ▼ 157.0▼ 51 1.8 0.715 31,423.5 3.5 -0.5 0.8 0 - 177.5 ▼

Rothschild 18 16 47,198.8 3.546 0.6 -24 ▼

-0.7 ▼ 38 0.5 HSBC Holdings PLC 18-14 ▼ 77 30,529.1 0.5 0.3▲ 49.7▲ 10 0.2 +3 ▲BMO Capital Markets 19 21 42,199.4 3.1

3.4 3.2-4 ▼26 0.3 30 29,927.3Nomura 19 ▲

HSBC Holdings PLC 20 22 27,622.0 2.1 -0.2 ▼0.5 ▲ 3.3 1.8 0.5 0.20.2 -2 ▼ 51.6▲ 13

0.4 -5 0.7 0.0▼ 71.6Stifel/KBW 21Macquarie Group 20

▲ 452.3 1.225 21,348.210 0.1 +4 ▲ ▲ 232.4 0.8 -

Blackstone Group LP 21 71 26,726.2 2.0 1.8 ▲ ▼80.326 0.312 0.2

Macquarie Group 22 29 23,859.20.7 +1

2.3 0.51.8▲

0.3 ▲-8 ▼0 - Houlihan Lokey 22

0.8 0.322 20,583.933 21,016.5

▼Moelis & Co 23 26 22,278.4 1.7 -0.3 ▼

▲ 72Itau Unibanco 23

1.5 0.41.1 -18 ▼ 155.1▲ 18 0.3 0.136 17,579.3 2.0 1.1 0.3 -21 ▼ 28.3 ▼

Jefferies LLC 24 18 20,484.6 1.538 0.5 -3 ▼

-1.3 ▼ 55 0.7 Greenhill & Co, LLC 24-3 ▼ 49 16,441.4 0.6 0.3▲ 59.8▲ 12 0.2 +4 ▲Houlihan Lokey 25 19 18,750.4 1.4

1.8 1.3-26 ▼ ▲-1.4 ▼ 66 0.9 45 16,212.1BNP Paribas SA 25 151.8 1.2 0.4 0.10.2 +3 ▲ 38.5▲

†Note: Industry Totals include multiple competing bids for the same Target.

Guggenheim Securities LLC Credit Suisse

†Note: Industry Totals include multiple competing bids for the same Target.

42

51

8.0 ▲

61

▼

+9

1617

-8Houlihan Lokey

8.011.5

4,960


Perella Weinberg Partners LP

-8

▼+5+7

Wells Fargo & Co

7

+3

▼

13,744.2 0.4+21.3-14

▼

41

0.9

▲

▼-1.5

▲ 0.30.1

▲ 5

2181,685.6

0.3

Stifel/KBW

▼

113,368.9

▼

HSBC Holdings PLC0.5

20,845.2

RBC Capital Markets

4 4

▲13

5.3

13 1.8

-1.5

2.218


16 21,072.2

1.5 0.2

27

5

▼18

2

23

17,408.3-16

Nomura

632,936.2

-75

-23.0

▲0.1

Goldman Sachs & Co 1

Market # ofFinancial Advisor US$m Sh (%) Share Ch.

Blackstone Group LP

Lazard 3

UBS 16

7146

462.1

Morgan Stanley 2 3 278,138.2

JP Morgan 4

3.3 1.9

y , ,Industry Total100.0 -1447,715 100.0Industry Total† -75900,482.4 6,4061,348,727.0

▲ -3.4%Industry % Change from Same Period Last Year 47.3% ▲ -1.8% ▼

Rank Value per Advisor (US$m) # of Deals per Advisor

▼ -7.0%

Rank Value per Advisor (US$m) # of Deals per Advisor

Industry % Change from Last Quarter 66.3%▲

100.0

-9.1% ▼▼

Imputed Fees (US$m)

▼

10,053.9

Industry % Change from Same Period Last Year 23.0%

US Target Completed (AF2) Jan 1 – June 30

-1.2% ▼ 13.1% ▲Industry % Change from Last Quarter -14.3%

Sh (%)2014 Rank

Market

US Target Announced (AD2) Jan 1 – June 30

MarketRank Value Market2015 Rank Fees

# of Change in 2015 Rank

2014 Rank

Rank Value Market Change in Market# of Deals

Market

31.5 -8.8 ▼US$mDeals Sh (%) Share Ch.Sh (%)

Advisor

945.81.7 -9 ▼ Goldman Sachs & Co

MarketShare Ch. Deals Sh (%) # of DealsFinancial Advisor

1 317,409.5 3.812.985 2.01 185 ▲27.6 1.6

+8 ▲249,528.8 39.4 -5.8 ▼▲

3JP Morgan+10▲

-45 254,763.7 25.3 6.21.4

4.1▲ 5518.610▲583.9 8.0▲

0.30.6300.8

1.536.7 652 -6.6 ▼232,345.2 ▼

4 247,229.5

-728.7

▲▲ 0.9

▼1.3 +15 ▲Citi

4.0 ▲ 1.4 +470 1.2 -4 ▼24.5 Bank of America Merrill Lynch 152,884.6 24.2 -14.5 52-16.921.3Barclays 5 6 246,941.1 134,492.95 5 50 1.2 -7

▲5.5 0.14.0 0.7 ▼

402.1

8.724.5 7.9 288.4▲ 0.9 Barclays-2743 ▼

43 Morgan Stanley 6▼

0.9Credit Suisse 6 7 235,912.7 23.4 1.73 117,396.4 18.6 -21.1 ▲ 562.4▼ 1.5 ▲Bank of America Merrill Lynch 7 2 222,055.6 22.0 -12.3 ▼

▲ 7.71.0 -19 Lazard 3.6

+8-13 ▼ 6411▼ 0.01.1 -317.9 8.6 ▲ 260.446 -

Citi 8 8 221,678.2 22.0▼7

14.5 6.7 ▲0.9▲ 40 ▲ 222.10.9 +10 3.0Centerview Partners LLC 9 9 193,755.6

1016

▲

92,050.813.8

▲0.319.2 Centerview Partners LLC-2

10 9149

Deutsche Bank 8 12▼▲

47 0.9▼

▲87,363.1 -1 ▼0.314

1.011.8 ▼9.4 ▲ ▲225.5 3.1

▼1.03.1225.3 ▼1.8

-21.9 ▼ 0.921 0.5 -2 77.3 1.1▼74,967.535 -91.1 ▲ 41117,147.4 11.6 11.0 15

11 10 97,527.3 -3 ▼ UBS▲ 8.91.712 17

9.7 3.2 44 56,212.60.1

1196,290.9 0 ▼39,178.0 6.2 2.5 ▲ 0.6269.352 9.5

29

Evercore Partners0.4- Wells Fargo & CoLionTree Advisors LLC 12

6

Allen & Co Inc 13 19 84,350.5 4 ▲0.1 +3▲0.3

-108.4 5.9RBC Capital Markets-9

18▲

▼▼

2.9 ▲+630,396.1

123.399.4

▼15 0.1▲ 14 1513 37,111.4

Deutsche Bank 15 11 80,242.7

1.42.3

0.7▲4.8Jefferies LLC

▲

▼Greenhill & Co, LLC 14 12 81,964.7 8.1 0.4 ▲

0.5

1.734 ▼1.72.3

-0.9 ▼Evercore Partners 150.824

1.120,147.5

166.8450.8 -10 121.31.1

▲642.5 17

▼1.213 30,102.5 4.8▼▼25,051.2▲0.52.8 ▲ ▲

▼ 1.91.53.270,604.7 7.0

0.52.8138.8

- 3 36.1-16▲-7

1.0 0 -▼

0.472.7 1.00.521

HSBC Holdings PLC 20 - 17,408.3

0.1 +319 37 15,010.5 2.4 ▲1.8▼19 17 44.7▲18,416.5 1.8 Greenhill & Co, LLCHoulihan Lokey ▲ 8 0.2-1.4 0.3▼ 1.2 -22 0.620▲ ▲0.11.7 1.7 +33 40 12,915.2 2.0 1.5 0.1 +1 ▼

▼ 0.2 ▼41.611.6▲

0.60.2 0.1

▲12,557.1 2.0▼ -443 0.9 21▼Jefferies LLC 21 18 16,962.2 1.726.5

30.624 15,331.1 0.4

1.5 0.91.1 ▲

1622

Moelis & Co 23▲

Macquarie Group 23 33 15,075.9+2Rothschild 22 Macquarie Group0.1 -13 0.0

1.9▲1.412,168.70.311,633.1 1.8

13-3.0

-33 0.8 -1 ▼ 1.2 ▼1.3

0.392.9-2.2 ▼

▼ 1212,243.4 1.9▲

311.9

25Guggenheim Securities LLC

24Qatalyst Partners21▼ -18 ▼▲ 0.0

1.2 ▲0.6 ▲ 141.77 0.2 +4-▲ 0.6 0.043.8

7,309.0 100.0+2▼1.7+53

17.7% ▲

25 0.2

Industry % Change from Same Period Last Year▼

10,932.7 8

1.3%

7100.0

▼▲14.2%▲

-6.1%-8.9%

4,263

-6.8%

Industry Total

Industry % Change from Last Quarter54.0% -4.4%-0.3%

100.01,008,957.9

24 14

▲

13,397.9

60.1%

25 - ▲

+4

1.3

▲

▲

Industry TotalPJT Partners LP

https://www.thomsonone.com

* tie

Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables7

Guggenheim Securities LLC Credit Suisse

Industry TotalQatalyst Partners

100 0 +10783 364 3 5 453▲ 7 1.6 1.6 ▲

8 801 8 100 025 32 11,633.1 1.5 0.5

1.20.1 +3 ▲ 141.7

36 0.7 -3 ▼ 102.7 1.20.7 ▲

Moelis & Co 24 15 13,471.2 1.7 -2.1 ▼ ▲58.32.1 1.6 ▲ 11 0.723 42 16,334.1 0.2 +4 ▲

▲11 0.2 -1 ▼ 26.2 0.31.0 ▲

Nomura 22 36 16,966.0 2.2 1.3 ▲ 0.30.7 ▲ 31 1.00.6 +4

20Rothschild 21

0.618,908.9 2.42.2

1.3▲ 85.2

▼ 41.45 0.1 -130 ▲

0.50.6 ▲17 0.3 +1 ▲ 53.90.5 ▲

1.7 1.7 ▲HSBC Holdings PLC 19 64 20,062.4 2.6 2.4 ▲

1.5 ▲1.2 -20 ▼ 145.30.6 ▲ 68

0.9 ▲45 0.8 +3 ▲ 80.3 0.91.5 ▲36 0.7 -15 ▼

▲Evercore Partners 16 13 30,813.1 3.9 -1.1 ▼ 129.4 1.5

1.218 37,902.5 4.8 2.1 1.2102.8▲2.0 2.00.9 +1 ▲ 173.8

1.6 ▲17 42,363.5 0.6 -7 ▼ 138.45.4 2.2 ▲ 301.0

▲30 0.6 -14 ▼1.6

▲6 0.1 -7 ▼ 1.083.91.3 1.3 ▲

Perella Weinberg Partners LP 12 27 60,479.2 7.7 6.4 ▲▲ 118.08.6 -17.5 ▼ 306 67,040.9

257.2 2.982,228.0 10.5 1.0 ▲0.6 +4

2.9 ▲52 1.0 -10 ▼256.9 2.9 2.9 ▲17 0.3 +2 ▲

3.1 3.1 ▲Centerview Partners LLC 9 16 94,900.5 12.1 8.4 ▲

3.2 3.2 ▲4.2 ▲ 52 1.0 +7 ▲ 268.0

▼ 280.515.0 5.8 ▲ 5617.9 -18.5

117,344.4 1.011 -18▼3 140,147.9 ▲84 1.5 -1 ▼ 681.7 7.7 7.7

▲367.8 ▲

60+12

Barclays 5 5 141,769.7 18.1

-6.6

3.74.2

-15.3 1.1 -14▼ 3.74 9 193,532.3 70 1.313.5 ▲

12.5111 1,099.82.0

Change in

70 1.3 ▼ 5.4-7

MarketDeals Sh (%) # of Deals Fees Sh (%)

MarketShare Ch.

Market# of

23

32-16

257,706.7

25Moelis & Co 0.5-0.81.4

18,374.8

1.4Wells Fargo & Co

Jefferies LLC-4

0.4

Share Ch.

-6 ▼Goldman Sachs & Co 1 1 322,414.1 -3

▼-1.6

6 409

Advisor

-7.4 ▼ 87 1.6-1.0 ▼

Industry Total 1 223 764 2-2.016,929.7

1.5

24.7

LazardMorgan Stanley 6

▼34

▼RBC Capital Markets -2.1

-1.018,750.4

Macquarie Group 2015

1.51.7

18Houlihan Lokey 22

58

2121,454.421,072.2

35

21

26,556.21.821,885.8

7.8

▲Blackstone Group LP-0.7 ▼19 20

36,674.7 3.0

2.9Greenhill & Co, LLC 14 95,480.0

18

Allen & Co Inc 15

17

87,409.5

16

▲

▲

12 100,260.612

13

7.7

6.223

14

21.521.8

7

▲2.9

263,179.62

6.1

9.0

LionTree Advisors LLC 13 73 96,290.9 7.9 ▲

0.9 -30

Evercore Partners11 9

8.2110,249.2

48-0.4

▲

269,502.45

2

6-15.2 ▼

▲

21.0

6 22.0

7.1

1.9-0.5

2.2

1.316Rothschild

7HSBC Holdings PLC1.8

UBS 75,407.8 0.35

▲

▼

0.8

▲

1.1 ▲0.4

4.7

473.4

▼

▲5.4

665.6

▲ 4.2▲

323.6

7.6▼

2.7▲7.5

▼▲11.6 97

6359

-761 1.0

52

9

-15

▼

-24

7


74

-2

19

65

0.7

0.1 -8

▼

+3

Change in

+8

-13

-12

122Deals # of Deals

▲▼

-1 2

# of

1.5

20

-11

Market

1.9Sh (%)

1.0

1.264

Citi

▼

+6▼

Jan 1 – June 30Any US Involvement Announced (AD41)

Rank Value

7.64

4.9 ▲

MarketFinancial AdvisorGoldman Sachs & Co 1

30.9

2014 Rank

29.8Morgan StanleyJP Morgan 3 5 364,912.3

US$m2015 Rank

1 404,688.03 378,412.1


33.1

Barclays

95 32.9▲

7.6JP Morgan

Rank Value MarketImputed Fees (US$m)

0.1 +10.3 Macquarie Group

Greenhill & Co, LLC▼

25100 0

▼17

24

14 31,041.9 4.0

17

▼

Stifel/KBW▼

Houlihan Lokey

26 17,036.7

0.4

▲

-10

49

20 20,325.9▼▼

Deutsche Bank43

18

579.6

Centerview Partners LLC 910

20 0.310117,272.3199,629.7 16.3

9.2

Lazard

Bank of America Merrill Lynch 7

266,180.2

88

4

256,777.8Credit Suisse

Citi

16▲7.5

UBS

Deutsche Bank▼-2

1.0

+9▼

21,016.5 2.72.6

29

▼-0.4

27

▼

▼

▼

▲

1.0-4

27

Americas Rankings

220 Wells Fargo & Co

14+8

0.2

Sh (%)

# of Deals per Advisor2014 Rank

▼

▲

Jan 1 – June 30

19.3236,490.3

Any US Involvement Completed (AF48)

▼

US$m▼

Share Ch.-6.4

MarketFinancial Advisor

Market

8

10

98,722.0

11

220,037.34

-23

-13

12.6

10

2

▲▲ RBC Capital Markets

15

▲

▼

▼

Jefferies LLC

3

41.2

28.1


12.5

1.5 Bank of America Merrill Lynch

2015 Rank

-13


Sh (%)

12▼

13-

0.1

5 0.1

0.9

0.3

24 16,989.3

Barclays Danske Bank

▼

GMP Capital CorpCredit Suisse

-5.3%

Desjardins Group4.33

1.9▼

▲-6

1666

Industry Total

9 -8▼

0.8

2

5,414.3 4.4 4.3

▲1.012

-10.83.0Goldman Sachs & Co

1,194

▲

0.4+359

-16.4

868Industry Total124,418.8

2.1

+1 ▲

▲ 61.4 ▲

0.0 +10.0-3.1

2.0▼

▲ 1.071.30.4

10.4▼ 17.2 1.6

0.6

9.7%▼▲

-14.1%▼

-143 1,100.2

▼ -10.8%-2.3%11.4%


1.4 0.11

1.3%

▲

100.0

5 -3▲1,285.925▲ ▲

Canaccord Genuity45

100.0

1.81.7

▲0.4▲

0.02.3▲▲ 0.40.0 +1

6

▲5

0.621,471.1▲

1.9

2.42.3

22

1 0.1 1,368.1

HSBC Holdings PLC

24

22 - 1,740.6▼

2.521

1,849.516

-6-2.9-0.2

1,795.020 ▼

▼20.60.0 ▼

0.41.9-10.0

▼

20.70.8▼

19 ▼ 20.77 0.21.90.0▼Macquarie Group

21 22 3,276.6 2.6 ▼-2▼

▼0.1 -314 3.4▼ 36.8 0.914

Macquarie Group 18 13 5,316.95.9

4.37 4,393.94

19 2 4,154.0 3.3 ▼0.6-20.3 -14 -2.1▼ 18▲

BMO Capital Markets3.8

17▲ TD Securities Inc

2,821.3

0.1 3.7 ▼0.0 0.4

▼-4+1

1.3 1.2 ▼0.4

▼

0.740.7▲▲ 4.6

7

US$mAdvisor# of

▲Fees69.6▼0.1

0.0

▼

20,556.8

▲


-18.0%

Share Ch.

16.2

▲

▲26.3

100.0

▼11.7% ▲

-8.5% -9.7%

+10783,364.3

▼

5,453

Industry % Change from Same Period Last Year 22.7% 0.2%

8,801.8 100.0

Industry % Change from Same Period Last Year 48.6% ▲

-326,409Industry Total 1,223,764.2

-0.5% ▼

29.5

1

11.7

26

8

Scotiabank

107

-0.7

▲17

9-4.2

7.7

0.71.9

# of

1.4


* tie

20 8 3,752.8

▲0.8

Ernst & Young LLPFirstEnergy Capital Corp

1,720.7 1.41,720.7-

2.10.5

▲▲Industry % Change from Same Period Last Year 40.2% -11.8%

14.621 4,646.0Sycomore Corporate Finance SAS

▼

16▲ - 6.0 1

Scotiabank

Sh (%)

▼

Raymond James Financial Inc

84.0%

▲

100.0

▼

4.4

-2.8% ▼


27.5

23+1 17

▼

74,793.0

6.0

0.1


-10.5▼-5.6

CIBC World Markets Inc

▼

-1

-7.9+1

+4

3,259.4

Rank Value

4,456.6

0.8

▲

▲

RBC Capital Markets

+3

-3

Sh (%)▼

7.7 311

▲

7 20,386.8

21,440.19

▲20,815.7

Credit Suisse

5Morgan StanleyCiti

2

4JP MorganBMO Capital Markets

3

Deutsche Bank 67Bank of America Merrill Lynch

12

610

3 16.717.2

36,674.623.529,272.7

RBC Capital Markets 42,358.8

+10.9▲14.9▲

41 34.1Share Ch.Sh (%)

2015 Rank

13.3Deals

Market

-5

Market# of Deals

JP Morgan-2-6

33.32.2

▲ Industry % Change from Last Quarter

2014 Rank


Any Canadian Involvement Announced (AD42) Any Canadian Involvement Completed (AF49)

67.3%

2014 Rank

Jan 1 – June 30

Rank Value

100.0


US$m

Rank Value per Advisor (US$m)Market

Financial Advisor Sh (%) Share Ch.

▼

Market# of Deals

Change in MarketImputed Fees (US$m)

50.5

Market

10 2.16.34.6

2.0▲▲

3.70.6

▲40.5

11 24,899.028.9

+1▼▲

DealsMarket

6

2015 Rank

0.0▲12 421.40.0

Sh (%)

Jan 1 – June 30

-3 17.1

Goldman Sachs & Co

34

▼1

Nomura

2-1Deutsche Bank

2.12.123.45.9 ▲

▲17.1▲

110

0.0 +15

-+112,750.6 17.1 79.5 7.2▲0.1

3.0-3 ▼

▲+5

1Bank of America Merrill Lynch 0.00.1

7 8,088.8 10.811.3

▲

43

516.4

TD Securities Inc

17,199.2 13.814,422.4 7,249.1▲ 15Citi

11

0.46.5 9

-2+4

Lenner & Partners0.8

-1.21.4

9*

1▲

Rothschild

▲

1.415.0▲21

8 1.29*

12.76,954.1

Sandler O'Neill Partners 16 -

8

9 7,419.1

9CIBC World Markets Inc 1410


8,460.26Barclays▼ Morgan Stanley▲

8

▲

-0.7

▲▲0.0

1.150.1

▼

▲1.2

▲

▲

4.2

▼▼

33.34.3

▲

9.39.7

-15.2

0.0

▼

▲

9

0.2-3

46.7▼

6

21,623.4

12,797.7

9.39.3

▲ ▼

+1▲9.36,954.1▼

- 1

▼

64.70.0

4.3-5 ▼ 20.96,175.21.90.224 5.99.32

1.9

5

12.7+1

6,932.7 -15.7 ▲3

+1

-24.3

▼

▲0.2+1 ▲7.9BNP Paribas SA

12

06.7 -0.89

▼ 10

5,039.53.5 ▲

2

6.2

8.3

1.60.0 1.0

▼ 21 0.1 - 66.3 6.0-1 ▲13 5,918.738 ▼7.4 10.90.1

5,752.7

▲

5,596.15

-30.8+3

▼

▼

1.4

4.5 ▲

5.6

0.44.5 0.3

2▲ 15

11

22-2

Industry Total

12

14

3,186.3 0.22.6

+2

-4.4

▼

4.60.3

24*Willis Capital Markets-160

43

Numis 24*-

2,572.0

GMP Capital Corp

23 33

199,570.1

12*6,954.1

1

6,954.1

9,385.9 ▼

▲6.07.5 0.8

1.6

+1-0.811.6

1.0-5

Change in

0.3▼

-13

19

0.8

0.2▲

▼

5.6

4.6 4.6

-6.5

▼

▼

Moelis & Co 17

▼

0.1

-

5.6

-19.6

15

5.6

HSBC Holdings PLC14

-12*Lenner & PartnersDanske BankINFOR Financial Inc 4.6

-

9

▲

5,736.2-


EMEA Targeted Financial Sponsor Investments (Buyside Sponsor Activity)

Healthcare

HSBC Holdings PLC

6

Goldman Sachs & Co

Goldman Sachs & Co

3

12

65,473.2

3

46.8

21,272.0

12

4 64,537.4

49.3

629 47.7

15,038.6

71.25

3

JP Morgan

Morgan StanleyMoelis & Co

Announced M&A activity with EMEA involvement totaled US$688.1 billion in the first half of 2015, up 9.8% compared to theUS$626.8 billion reached the same period last year.

Estimated fees accumulated on EMEA deals completed in the first half of 2015 were up 5.9% from the same period last year,totaling US$5.5 billion, according to estimates from Thomson Reuters/Freeman Consulting.

The Energy & Power sector led the EMEA marketplace, with 552 deals totaling a combined US$128.9 billion, including the BGGroup and Royal Dutch Shell deal valued at US$81 billion. Healthcare accrued US$117.9 billion, and Materials totaled US$77billion of activity.

Financial sponsors were less active this year compared to the same period in 2014. EMEA-targeted buyside financial sponsoractivity reached US$78.8 billion in the first half of 2015, down 8.4% from the US$93.6 billion reported for the same period lastyear.

Acquirors listed on the Amsterdam Exchange were EMEA's most acquisitive companies this year, with a combined total ofUS$81.1 billion in offers.

Morgan StanleyJP Morgan

Morgan Stanley

Telecommunications

Lazard

Industrials

Primary Listing of Most Acquisitive EMEA Companies - Top 10 (US$b) Jan 1 - June 30 2015

19,863.3

UBS

55.5

Goldman Sachs & Co2

56,183.1

Morgan Stanley

35.8

Materials

14,277.8

5

221,013.3

20,167.9

11,318

6

33.9

57,588.9

465 64.9

552 Share

6 8 3

No. Deals

EMEA Deals Intelligence EMEA Involvement Announced Advisors by Target Industry

117,893.1

5

83,683.1


EMEA M&AEMEA Announced M&A Up 10% | Energy & Power Highest Valued Sector | Financial Sponsor Activity drops

59,424.4

54,778.1 83.8

178 5

3

Rank Val US$m

89,630.9

Rank

Bank of America Merrill Lynch 69.6

Mkt.

Energy and Power

2

128,873.2

69.189,050.8 1

4 3 33.4

70.5

76,973.6

2

54,276.9

1

1

68.9

2

Jan 1 - June 30 2015

g p ( y p y)

50,575.2 Healthcare / Pharmaceuticals

France / France

Materials / ChemicalsUnited States / Switzerland


Jan 1 – June 30 2015

6/24/2015

Israel / United States

Pending Hutchison Whampoa Ltd

Intended

Netherlands / Belgium4/15/2015

Netherlands / United KingdomAcquiror

Pending

2/5/2015

Pending

1/23/2015

Royal Dutch Shell PLCDate Effective

11,657.2Pending Bouygues Telecom SA (100%) Numericable SFR SA

Koninklijke Ahold NV6/25/2015

y g q p p ( $ )

4/21/2015

Rank Value (US$m)

Pending81,009.7

Acquiror / Target Nation

Teva Pharmaceutical Industries4/8/2015Rank Date Target (% Sought/Acquired)

Top Ten EMEA Involvement Announced Deals

Mylan NVMonsanto CoSyngenta AG (100%)5/8/2015

4/8/2015

Mylan NV (100%)

O2 PLC (100%)

BG Group PLC (100%)

15,381.2

* UndisclosedUnited Kingdom / United StatesPending

Telecommunications / WirelessHong Kong / United KingdomPending Alcatel Lucent SA (100%) Finland / France

United States / Ireland-Rep Healthcare / Pharmaceuticals

Telecommunications / Telecommunications Equipment

Perrigo Co PLC (100%)Pending

United Kingdom / United Kingdom

46,386.835,171.6

Pending

Delhaize Group SA (100%) Retail / Food & Beverage Retailing13,784.4

6/30/2015Ball UK Acquisition Ltd

Towers Watson & Co (100%)Rexam PLC (100%)

Telecommunications / Wireless

Willis Group Holdings PLC Consumer Products and Services / Professional Services8,613.0 Materials / Containers & Packaging7,786.1

11,202.0

Nokia Oyj


$75.9 $74.4

$27.1 $15.6 $21.9 $18.4 $25.8$49.8

$28.2

$45.5$86.2

$44.4

$9.0$16.2

$38.1$19.7

$33.3

$43.8$50.6

$60.3

$54.7

$28.2

$14.6

$37.4

$23.9

$18.7

$24.7

$30.0

$90.8

$67.8

$24.9

$19.0

$26.3$22.3

$24.7

$33.9

$45.8

19.7%

17.1%

10.2%

7.6%

13.4% 14.2%

9.5%

18.3% 18.5%

14.8%

0%

5%

10%

15%

20%

25%

$0

$50

$100

$150

$200

$250

$300

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

% o

f EM

EA

Ran

k Va

lue

(US

$b)

Q4 Volume (US$b)

Q3 Volume (US$b)

Q2 Volume (US$b)

Q1 Volume (US$b)

% of YTD EMEA M&A

$81.1

$55.8$27.2

$25.0

$16.6

$15.6

$12.6$11.1 $9.2 $8.0

Amsterdam

Nasdaq

Euronext Paris

Swiss Stock Exchange

New York

Zurich

Nasdaq

Madrid

OMX Stockholm

BMFBOVESPA


Greenhill & Co, LLC

▲-


Financial Advisor

Jan 1 – June 30Any EMEA Involvement Announced (AD47)

2.3

1

0.0

Change in # of 2015 Rank

MarketFinancial Advisor# of Deals

39.31Goldman Sachs & Co

270,730.2 18.4744.5

Sh (%)2015 Rank

1

2014 Rank US$m Sh (%)


Jan 1 – June 30

Market

81,009.7

Rank Value Market

306,158.8 10.5

▼

MarketShare Ch.

▲

12.6 -0.6

66-4.6

-10.130

4971

7.9▼

▼

18Moelis & Co

UBS

71,271.6

33

Mediobanca

BNP Paribas SA16Zaoui & Co

Macquarie Group

Credit Suisse 13

15

5

14Robey Warshaw LLP

19

17

9

2

4

HSBC Holdings PLC

12

14

Citi 925

Rothschild 11

-17

47

9.8

-8.8BNP Paribas SA

0.0

7.358

0.2▼

59,549.864,569.8

▼▼

9.4 12

-111238.7

-1

2

8

Deutsche Bank 6Barclays

Morgan StanleyJP Morgan

LazardBank of America Merrill Lynch

726

10

6

10.4

4

10

178,454.55

86,597.3

8

33 2.7

▲▲

5.4▲2.9▲

5.7

1.3

Nomura 19

1718

14

3.820,724.718,292.6

15Zaoui & Co

▲1.6

Jefferies LLC▲

2.816,290.5

3021

▼ 16

3.017,707.8

2918

3.3

14,077.7 2.6

17

1.10.4


0.1

RBC Capital Markets 19

5.630,516.2

3125

3.4

2.10.1

▼▲

▲

123

22

0.0

▲

HSBC Holdings PLC▼

Evercore Partners-2+7

24

1.50.7

Kempen and Co NV▼

0.0-9

Ernst & Young LLP▲ ▲

190.0 -7

▲▼▲▲

15+217

▲2 27

1.5

1.41.5

-1.1

-6.72.7

0.00.61.0

24 ▼

1.6Nomura44

Davy 2221

Societe Generale 23 15

Banca IMI (Intesa Sanpaolo)20

SEB

Industry Total

22

3.9 -10.7 ▼ 31

▼▼

0.1

0.2

-9.7

6.0

▲-13.3

+2

▼▲

0.3

-2.9

1

8.5

7.5-7

Rothschild

▼Barclays

10.2

-1 13.673,822.5

41,365.9

6.7373645,795.8

2845,346.7

11.8

▼12-10

12

▲6.6

1385

7.0UBS

38,247.3-10.3

-124

▼ Credit Suisse▲

-21.9

41100

0.511

43,007.652,459.1

26

6

1.5▲▲

30,831.8

32

41

0.1

▼

1382

2 ▼▼▼

0.962

0.60.9

63 215.9▼

-8-3 371.7

-1▼

128,367.210-13

Citi

119,255.0

238.5

-5

+58.0 ▲

80 Goldman Sachs & Co

▼140,999.4 25.9

▲

0.3

1JP Morgan

42.1 585.3

0.70.9▼64 -10.3

+80.4▼ 2

▲Sh (%)Deals

▲

49▼ 4

3 6.6359.712.4

▼

178.7

-13208.451

59

0.723.6

-13.7

127,926.2

Sh (%)US$m

0.2 23.5


▼228,774.0 ▼ 1.1-1.0 74 -4

# of2014 Rank

MarketMarketDealsShare Ch.

Rank Value

EMEA Rankings

AdvisorMarket


# of Deals per AdvisorMarket

Imputed Fees (US$m)

▲

2.90.9

Sh (%) # of Deals

Any EMEA Involvement Completed (AF53)

Share Ch.

0.8

0.6

Change in

-3

Fees

2.0

10.7▲

▲

1.0

▼

▲▲

▲

0.6

▼0.0

▲

-9

▼▼

109.9

0.90.6

▲

50.1

0.2

-

3.8

+1

1.9

4

191.3

0.217

33

0.64.4

▲45

3

-14.2

▲

▼Deutsche Bank

100 0 6 84610,431.410,431.4 ▲

▲1.9201

Industry Total1

22

▼▼

2574

+112,154.4

23

▲

6-

1.5

00.19

106

1

18

-1.8 ▼2.20.71.3

▲

-0.6 ▼15,126.4

13,062.1 2.4

543 971 41.9

0.5+4▼▲

+15 451 3

▲-50

0.0 0.0

0.9

0.0100 0

0.1

▼

--4

0.8

▲▼

0.0 0.1

0.2

0.5-

0.5

+30.3 ▲

0.5 ▼

-3

+20.3

▼

0.1 ▲

-540.3

0.1

+2

269

73.456.6

7.8

107.7▼

-20+4

0.3

0.4

0.2▲

0.3 ▼▲

12.16 -19.0

▼

11

3.3

4.0

3.5

6.8

▼▼

19.5-23-17

▼ Lazard 7 106,161.3

21.921.6

▼0.2 ▼

5Morgan Stanley 117,209.1

36.0

86,915.817.425.9

12.6

247,790.6

119,965.0

12.7Perella Weinberg Partners LP

14 9.6

-6.2 0.3

0.1

-15 Bank of America Merrill Lynch

55,351.8910

▼

▼ 34

-19.6

7.93.9

68,972.4 ▼

▲-7

▲

139.1

0.2

57.4

82.1

▼

▲

▲

1.3

34.8

0.1

1.0

0.6

1.1

0.8

1.5

0.30.8

0.8

1.4

17.5

▼

1.686.0

2.0

2.6

▲

59.7

43.4

44.8 0.0

▼0.1

1.10.3

▲

▼

17

-

20PricewaterhouseCoopers

Puhl GmbH & Co KG

Macquarie Group

1.91.9

2322

▼▼

24*24*

0.1

▼4▼10

0.6

+2

-11

0.10.2 -26

0.1

-15

8 380-5

0.1▼

145

-5

0.1

0.0

-7

12

18,221.2 2.7

3.527,141.924,054.016

3.121,204.063

3531

100 0

10,499.4-

3014,404.5

10,020.2

11,056.3

-4.0

9,461.41.38,774.7

688 114 7

-10.0

Centerview Partners LLC 25 18 8,773.0 1.3

UBS Perella Weinberg Partners LP

Fees

+5

-3

24*

1831 -0.3 ▼1.4 0.2

1.5 ▼


UniCredit 1.44225 8,270.1

73.4

135.5

86.0

-

▲ Kempen and Co NV

▼▼

▼ ▼

213.4

* tie

Industry % Change from Last Quarter ▲

0.424Nomura23

▲2.1

1.6

322.6

368.5

199.7▲

3.2168.0

-

▼ 10.8

▼

6.2

AdvisorSh (%)# of Deals

567.6-7

-4

34.8

106.7

59.7

11.4

13.5

0.3+1

-5

1

-8

76

-15440.6

1.3182.3

4.0

3.4

14

18,292.6

30,516.278

25

126.0

0.2

31

3.15.7

5.9

3.5

1930,831.8

6 42,832.638,247.3

10.2

▲

▲

2.935

▲7.4

▼52,459.114

26Credit Suisse 11

55,351.8▼

41.7

13.9

Any European Involvement Announced (AD21)

28.5 0.6

9

0.1

0.3▲ Evercore Partners

68,400.013▼

Barclays

7Rothschild

106,136.3

▼ 5

114

▼

73,822.58

-1

Deutsche Bank▼5 2▼

▼69,775.6 11.6

83,673.6▲▼-9.7

-12.9 ▼11.4

171,717.73

▼5 6

▲

4

Goldman Sachs & Co

4 -3.211.9

6.441.1


81,009.7

Morgan Stanley▲

22.8

2014 Rank

1247,790.6

MarketUS$m

251,300.0

2015 Rank

7

93.8%

267,459.92


▲Share Ch.

Rank Value

▲

1

9.8%Industry % Change from Last Quarter

JP Morgan

Industry Total


Financial Advisor

Citi

Societe Generale

Greenhill & Co, LLC

BNP Paribas SAZaoui & CoMoelis & Co

BarclaysHSBC Holdings PLC

Banca IMI (Intesa Sanpaolo)

Macquarie GroupMediobanca

10

Lazard 8

12

17

15

2.52.714,077.7

22 8,774.7 1.5 270.11.6

Jefferies LLC

18

24* 193 10,431.412,081.0

30


Industry Total

PricewaterhouseCoopers21

Ernst & Young LLP

5.8%

25

1110

57

9


100.0

-3.8%

25

115,440.5

121,224.9

▲

43.6225,260.3

Rank Value

16,290.5

13,062.1-10.2

19

100.0516,771.6

2.9

6,846

Sh (%)

17,607.8

2.3

-

23

1.9

-1.8

3.229

2.010,431.4

17

14,970.9

-0.1%

Puhl GmbH & Co KG

▼0.2

-2

-5-7

+1


Industry Total 7,796

9.9

SEB

19

0.0

0.5

10,499.4


602,372.7

38.3%

26

8

17

35123▼

25-10.0

▼

-10.6

▼

▼▼

0.4

▼ 67

0.13

26

1.6-13.0

36

-1

-24

10

7.0%


▼

47.6

Any European Involvement Completed (AF3)

-4.6%▼

Industry Total

-28.7% ▼

543,971.4 5,451.3

▲

MarketImputed Fees (US$m)

100.0

▲

▲

▲0.6

0.3

0.6

17.1 0.20.3

▼

▼

0.8

238.5

50.1

44.8

1.1

0.7

▲0.2

0.578.7

▲

▼▼

2.0 0.4

0.90.8

2.6 0.71.0

4.64.1 0.2

0.1

▲2.8

1.0

▼

Share Ch.

2.1

0.4

Market

▼7.0

0.23.8 ▲3.5

Jan 1 – June 30

▲

▲

0.2-4

-5.2%▼ ▼▼

6,466

-3.9%▼ -17.1%

▲-28.3%▼

0.317

6911

1.1

4

0

+8

0.3

0.5

-18

-5

60.3

0.9

1.6

0.7

20

+1

0.8

+2

0.5

0.1

0.1

+2

-8

-1.226.4

70

31

61

23.8▼

4.8

▼

▼

14.3

22.7

20.522.3

7.4122,944.9

-14.6

Market

▲

136,259.2

US$mMarket

0.10.640

-14.113.0

0.3

▼

104

▲

▲

19

MarketShare Ch.

▲

56

Deals# of

▲

9

12.823.5

-19.19

▲

38

▲

▲

2.0

-0.5

117,209.1

8.3

2.0

10.7

7.9

1.4

13.2

0.8

▲100

▲

61▼

49

▼

4

33

43

▲

0.1

17

33

1.5

0.9

2.0 ▲▲

-20.3

-22.0

8.9▲▼

0.4

▼

▼

▲

▲▲

+10.0 ▼

Sh (%)

0.6 ▼

▼

▲▲

+2

▼

-1

0.9

-51

1.1

-269

Change in

5.9%-14.0%

107.3

▼

▼

▼

-12

-13


12

33

6

▲

▼

21

1.0

0.0

-22

62

0.7

0.3

2014 Rank

1+6-18


▲

# of Deals Financial Advisor

2-1 ▼


Nomura

JP MorganCiti

Goldman Sachs & Co

15Zaoui & Co

Morgan Stanley

16▼

LazardBank of America Merrill Lynch

22

1

4

13

Macquarie Group

17

RBC Capital Markets

-5

0.0

UBS

10

▼

▲

▼

BNP Paribas SA

HSBC Holdings PLC▼

55

0.8

19-9

0.3

+1

0.9

-7

65

4.9%

-17-5

31

-18

▼

-90.4

46

▲

-1.7%

# of

▼

Jan 1 – June 30


Deals

8,380 -145

0.8

Change in

▲

Sh (%)

0.1

▲

▼

5.7%

0.8

0.0 -

▲

1.3

▼

7.8 ▲

0.9▼0.10.1

43.4.2

▲0.41.0

▼

▲0.8

▼

0.7 ▲

1.50.2

▲

▲

-8

▼

1.4

0.9

-3

20,450.2

▼

▲0

0.5

184.2

-53-2

15 9,461.422

2.4

1.7

10

+7

21100.0 -265 5,239.8 100.0

0.2

0.2-15

-159

20

0.0

53.9+4

▼

▼

4.0 -6.6

5.4

▼

▼

13,994.6

3.1

27,141.9-8.2

7.67.56.8 -2.4

-8.3

▲20

▼

▼

1.3

8,773.0

21,204.0

8,405.7

442.3

1.9%

24,054.0

▲

▲

32,421.8

6318,221.2 3.0

18

14

38

14 4.5

16

150.8

▲

-1.0

16

21

4

0.3

Market

-4.0

11

3.4%

14,404.5

3.516

100.0

59,549.8

3

-8.8

12

41,205.345,346.745,620.8

9

44.4Sh (%)

688,114.7

Market

▲

Credit Suisse

Deutsche Bank6

13

Robey Warshaw LLP

Rothschild68,544.8

1.2

▲24▲

110.3

30

t e

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

10

Barclays Credit Suisse

Evercore Partners

40

5.711,637.1

3Morgan Stanley

73,134.9

16

1Goldman Sachs & Co 2 5

3

Financial AdvisorMarketSh (%) US$m

45,288.9

23,101.6

51,260.94

41.6

▼

JP Morgan

Citi 12

Barclays15

9

28* 11,871.5

8,709.7 4.7

2.0

PricewaterhouseCoopers

▼


25

4,815.3

1.6 ▲▲

Market

30

+1

Santander

▲1

+1

0.3

1.2-4

10

0.2

Macquarie GroupCenterview Partners LLC

-2

Stifel/KBWBNP Paribas SA

+1 ▲

36,585.9

24.845,896.324.5

39.5


▲+2

4.4

1

▲

Jan 1 – June 30

Market

▲

0.1

1.31.5

▲1.2

1.8

▲

▲

0.5

0.6

▲

▲

0.80.6

2.00.1

1.1

▲

▲

0.4

15.910.9

0.0▲ 5

1 602

64,588.8 34.9

19.8

12.5

14,819.0

3.4

12.6

2.7

6.8

7.0

0.2 ▲33

# of Deals

▼3623

0.2 +9▼


2015 RankFinancial Advisor

Rank Value2015 Rank

2014 Rank


Sh (%)# ofMarket Market

76,968.9Sh (%)

▲ 0.2DealsShare Ch.

MarketRank Value

Any UK Involvement Completed (AF39)

EMEA Rankings

39.6-22.9

27.7

5.2

0.223

▲

0.0

0.1

7.8

5.5

0.2-35.9-32.8

0.2

3.4

24

23.1

3▲▲

▼-39.2

▲

12.54.4

16.6▲

▼

-1

0.1

+80.1

23

15 0.1+120.347

0.1

0.0

+3+3

-30

-20.1

-2


▲+8+17

▲+7

▲▲

+2 ▲

0.3

▲

▼

0.5

41.4 2.134.8

+5

0.667

18.6

7.4

▼ 38.3

100 025

-

Ernst & Young LLPJefferies LLC

▲

▲

1 938

▼▼

▲

▲

# of

24

0.1

0.6

4 +3

6

Deals1.1

Sh (%) # of Deals

+7

0.3

Change in

0.1

-3

21

▼

▼

▼

0.1

-1+1

▼

0.1 ▲

0.2

0.1

▲

0.1

▼0.1▲

▲▼

▼

1.3

▲1.5

▲

▲ 1.0▼▲

0.3

1.6

▼

0.8

▼

0.20.3

▲0.50.1 ▲

1.3 ▼▼

3.01.2

2.4

1.8

1.36.3

▲3.63.5

0.0 ▼1.1

1.4

1.26.9

▼▲1.6▲8.3

203.4 5.0

Jan 1 – June 30

Share Ch.4.1

Imputed Fees (US$m)Market

▲3

69.1

Change in

69.7

135.3+3▲

▲

+6

Advisor

80.6

31.5

▲37.812.5

-

▼

▼

▲▼

23.424.8

46.4

59.1

2.2

29.5

122.7

162.210.4

0.6

-69.9

-22.2

1 959 1

6.7-0

▲100 0

2.0

26

Scotiabank

6,190.1

10,227.4 5.5

17

7,222.6

2.1

Industry Total

10,415.7

4.713

219,659.0

20

7Deutsche BankRothschild

20

24

8

19

22Robey Warshaw LLP

15

56

18

18

-11

-

14

23

2

2014 Rank Share Ch.Sh (%)Fees

128,292.6US$m

102,040.0

24,512.2


Any UK Involvement Announced (AD32)

-3.4

0.3

22

1.8

1.8

11

3

2

1.61.6254 115 5


Nomura

Qatalyst Partners 22*170*UniCredit

Industry Total

24Oakley Capital Ltd

Credit Suisse

15

1314

518,067.5

12

Macquarie Group 14,394.2Greenhill & Co, LLC

Citi 18,987.3

4032

166

22*-

▼

3.15.0

-1.5

18

13,627.914

17▼

22 2.6

Union Square Advisors LLC

RBC Capital Markets

Lazard 16

83

Perella Weinberg Partners LP7

19

16 7,786.112,769.9

5,193.6

21

5.4

20 2.0

6,627.32.0

18*

4,674.01.927

11.8

4,942.9 -3.7

-2

▼

1.8

▲▲1.6▲

4,174.34,130.5

100 0

Market

2.7

1

▲7.1

-16.1

4.7

14.8 ▲▲

-14.7

-

1.638

9

6

31

▼


HSBC Holdings PLC

124,431.512

8

2

Morgan Stanley 4

Rothschild

51

3

Moelis & Co 11

Robey Warshaw LLPDeutsche Bank

10

JP Morgan

UBS

7

16.3

8

113,500.34

44.7

6

1127,224.0

16.3

11.6-9.6-4.2

3729,552.9

0.0

▲-324

2.0 ▲

5

+8

24.612

+4

0.9

25.2

▲1.2

81,009.7 31.940.2

50.5

13.935,432.8

▲+1

▼

▼-5▲

▼-1

▼

▲

Zaoui & Co 90

0.11Lazard

-53

0.6

18

-7

9.726,960.1

0.815▼

10.71110.611

9 1321,028.1

23,243.7▼ --5

0.4

0.620,478.110

10.619,677.59.511.1

11 -49.367 UBS-3 ▼4Bank of America Merrill Lynch-1

121312 -55.08.1

6▼▲8.0

▼1.1

▲▼

14,438.2+8RBC Capital Markets

15,044.1

31

1417

19Nomura 14

+7▲ 10

5 14,064.6-27.8

0.70.9

HSBC Holdings PLC

13138*

135.2 ▲

6.484▲

▲7.6

6.30.0

5.6

▲

+3

▲ 0.1

+820+8

0.1

+1

0.1

0.011

1

▲ -1911

0.23.4

27

0.1▲

▼-0.10.0

▲▲

34

3,792.3

185 037 83,674.8

3.9

7.5 ▼

9.77.7

-4.2

5.8 ▲

▲1.8

-0.5

▲

4,674.0

5.7

8.3

0.0

* tie

Lazard Societe Generale

Natixis

-2

▲

109*3,316.7

11

3,959.7

25,504.0

7

10

US$m

▼

MarketShare Ch.

3 8

13,596.8

4,456.6

27,051.6

33.6

▲

-3

0.1

0.1-17

+1

2

▲

▼

0.1

0.6

+2

-3

9

0.2

0.5

20.1

21

▲▼▼

0+3

▲

▼-1

0.1▼

-11.4%

-2-2

29,334.3 ▼Sh (%)

Change in US$m

Jan 1 – June 30

-30

92

▲80.3% ▲

1 16

2015 Rank # of Deals

7.6

55.8-▲

9.5

6.8

+1 78.2▲

0▼

5.936.7

0.2

2.4

▲

▼35.3

▼

▲

48.7

62.922.0

▼

30.65.7

3.70.7

16.2

▲▼

2.74.3

824.7

1.4

0.0

▼

2.04.6

2.6

▼

▲

1.211.8-

▲0.9

0.5

9.97.0

0.0

▼

▼

▲

22.6

.0▲

13.5

3.71.4

▼

▼

11.5+4

+1 ▲

0.3

0.3

-

-Barber Hauler Capital AdvisersBucephale Finance

▲0.1

0.4

2,253.23.13.1

-▲

100.0

-28.2%

11.8-0.0 0.0

▲-19

+60

2,501.0

▲

+168

1.1+30.2

0.80.1

0.10.3

▼-5 15▼ Natixis 17

Messier & Associes

1.7

1

▲Citi

▲5.4

▲222

4.6

▲

18▲

▲

0.80.1

0.3

37 2.6

0.3

# of

▼-4.0%

1,602

▼

Jan 1 – June 30

Market

+1

1

Rank Value

100.0

6.4

Evercore Partners

▲

-5

Industrial & Comm Bank China

-20.5%146.0%Industry % Change from Last Quarter* tie

▲ 3.2% ▲ ▼ ▼-4.5%

4▼

11.9%

-1893.0

Industry Total +135

24

1,583▼

100.0 1,4294 ▲

0.1

1.0-1

826.6

1

▲ 1 0.10.1

1,428.2+1

0.9

1,428.2

-1.6 ▼

1.1981.6

1.1

0.3

1,643.6

-18.6

8,239.9

8.4

6.01,806.1

-23.2

8.4

-26.1

7,369.6

9,235.0

2.0

5,277.52.12.0

7.7

-55.11,779.5

12*

▼▼

-31.6614,498.8

11.710.5

-32.2

-46.1

Zaoui & Co

31.424,163.8

26.0 -29.0

16.5

27.5


22,882.7BNP Paribas SA

-16.8

-4.6▼

-67


100.0

2015 Rank Deals Fees

BNP Paribas SA-5Financial Advisor


2.1Morgan Stanley

6▼24,469.6

12.14,625.2

9,917.9

14,077.418.713.6

8,779.6

19.3

Deutsche Bank

21,969.6 30.2

9 61*

5

4

Rothschild 104

1.4 -40

▼7

9

8.4

▼-53.38.59.4

8.4

Citi

12*

7.6 -36.1

14 87,369.67,344.4

6,634.4

8.4

Barclays

Goodbody Stockbrokers

15

-

4

71613

Societe Generale

Credit Agricole CIB-19Cushman & Wakefield Inc

1.6

1.11.6

Jefferies LLC

20Industrial & Comm Bank China

1.9

-

24

21*7431*

39*17

23Mediobanca

21*

23

25

Guotai Junan Securities

RBC Capital Markets


87,863.5

▼

38

10

21,154.018.9

5 24.16 16,624.8

127

1

6,742.2

Rothschild

Credit Suisse

11

18

UBS

17

9

Davy

HSBC Holdings PLC

Deutsche Bank

10,311.6

-

11

7,493.810

15

▲

0.3

▼

▼

17

▲▼

1▲

13

-34.7

1.6

▼

-21.4

▼

▲

1

4▼2

▼

16

▲

▲▲

# of

1,938

7

4

Sh (%)0.4

0.3

▼

1.30.6

Market

-90.1 ▼-3

-

▼-14

3.5

-1

0.4▼

# of Deals

0.6

▼

▲

-7▲

▲+1+1

Barclays

-3 -

2,007.12.0

Guotai Junan SecuritiesIndustry Total


2,232.52.9

2.8

21

1,454.72.0

6.1

-

2,933.7

6.0 ▲

5

4.4

0.11.3

13.5

-15.11.31.5

-8+4

10

+1▲12

2

-1

22.514.4

▲22.0 ▲

-7

-4

▲ 0.7

Share Ch.

2.5 ▲-1▲

+118

0.691.3

▼4.6

4.5

1.30.6

-1369.8 8.5 ▲

23.9%

AdvisorImputed Fees (US$m)

Market

▲▼

Sh (%)

1,959.1

Change in

▼

▼

▲1.30.9

0.82.3

▲

▲0.6

0.3 ▼1.5

▲0.40.6

▲

▲

0.6

2.7

▲1.4

▼

0.1

1.4

▲

▲0.3

1.2

▼0.52.5

0.61.0

▲-

0.1

4.5 0.5

▲

▲0.20.2▲

1.41.6

▲

HSBC Holdings PLC1,428.2

▼

125

▼

▼

+172,802.6

3.1

-3.4

-24.5

3.9

▼

18829.4

▲

▼

2

1.0

4

19

1

35.0

-21.4%

31,285.3Sh (%)

43.0

▼

29,053.3

100.0

Market

37.239.9

-0.2


Industry Total

-14.5

▲-28.7 ▼

7

▼▼ 2

Market

▼ 9

55

9

▼

JP Morgan

▼

12

Blackstone Group LP▼

Credit Agricole CIB

Credit Suisse

11

8

-5


10.1

+9

0.6 -1

Sycomore Corporate Finance SAS

Itau Unibanco

▼▲ 19

18

▼▼

2.2

21

3.4

7

2.0

-13.92,085.0

17

3.9

2.7

2,810.8

2.9

4 5 21

▼

1.2%

14

10.0Deals


33.4

-1.5%

10

1

Market

7

5

22

3


254,115.5

45.4%

3

Share Ch.

27,585.7

Rank Value

Any French Involvement Announced (AD33)

-37.9%

0.3-13

Goldman Sachs & CoMorgan Stanley


2

Industry Total

Financial AdvisorJP Morgan

2014 Rank

▲

100.0

1

0.4

1.00.1

23

Mediobanca 20

6

15


Lazard


31*

16

22

3

65

14

5

4.0

2,488.8

-2.9

-18.3%-11.5%

185,037.8

-16.1%


Any French Involvement Completed (AF40)


2014 Rank Sh (%)

3

2

3.42.6

13

-2.7

4737

4.43,215.0

60.4

10.4%

Market


PricewaterhouseCoopers Bank of America Merrill Lynch

100.035,527.2

Change in

▼▼

# of Deals▼

MarketSh (%)

0.7Share Ch.

1.317.0

Advisor

▼ 4.6 0.9

Imputed Fees (US$m)

3.6

MarketSh (%)

▲▼

54.40.2

▲6.4-3

▼-1

10

0.7 -00.41.5

-84

0.96.3

4 ▲▲▼

▼

34.4▲

6.725.1

2.8

▲

▲

▲

5.15.5

▲3.8

1.43.8

EMEA Rankings

FeesMarket

Jan 1 – June 30

3.7

14.6

9.2

5.4 1.413.7

13.60.7

0.7

▲▼

4.9

▲

2.4

1.41.3

▲

0.3

▲0.30.1

1.0

0.70.4▼▼

▼1.60.6

▲

▼0.6

100.0

0.9▼-1

5.8▼ 1.2

-22 374.12.1

3,149.1

3.63.2

-2

4.1

14.3

+1▼▲

-2

+1▲

3

▼

▼

▲

9

8.3 5.7

5

3,881.2

2,486.9 7.0

11.4

-3.8

10.9

3

-9.5

12.1

2,748.6

429

▲

36.0

2,940.3

3

-3.34,293.2

▲

▼

40.5

9.8

12,797.7

36.715,910.6

Rank ValueSh (%)

14,373.3 20.644.857.7

Market

▲2

▼

2014 RankSh (%)

6.6

27

16

▼

▲

▲

03

28

0.62,883.8

▼

4.8

5.6-1

Goldman Sachs & Co

5,833.3

0.8

# of

5,683.2

2▼

# of DealsChange in

15▼

Morgan Stanley

▼14

N+1 12-

▲775.1 0.6

1,348.0 3.1

HSBC Holdings PLCBarclays

15*775.1 -2

Evercore Partners 17 -Banca IMI (Intesa Sanpaolo)

115*

1.7Santander

-2

Deloitte

31

606.2

1.8

0.6-2

9

1.7

111213

BBVA28

Societe Generale6

8.31.8

21.9Morgan Stanley

Mediobanca14

Nomura

Deloitte 910

Market

0.65.5


10.5-12

+5

9 1.8

Deals3

Sh (%) DealsUBS

Rank Value per Advisor (US$m)# of Deals per Advisor # of Deals per Advisor

Share Ch.22.0


Financial Advisor

Any Spanish Involvement Announced (AD34)

US$mMarket

2-3


2015 Rank

Moelis & Co

41

6

4

7CitiGoldman Sachs & Co

15

5 3 20.1

4,436.64,634.8

8 9,627.4

7,936.75,565.3

Rothschild

8,844.4

2,920.0

17Lazard

-0.812.6

8

▼0.2

▼▲

-10+3

-1

▼

+1+1

30

▲

0.2

0.60.24.8 -8

▲

0.213

21

▼3.0

BBVA

0.4

19*

6

3

0.2

1-4.6

1

1

24

1.6 +1

+2

504

-11

0.21.2

18.0-19.2

37.1 34.9

-5.3

41

13▼▼

▲34.9 ▲34.9

26

Rank Value2014 Rank

16,318.315,381.2

91.0

Share Ch.Market

▲

▲

▲

Jan 1 – June 30

5.2

23

-

34

+3

7▼

736.0Industry Total

2425

Raymond James Financial IncBNP Paribas SA

100 044 027 1

142.8

Industry Total

0.3Blackstone Group LP

190.9

1.418

Valence Group 22 162.4

SantanderKPMG

121

2.1

19

2,121.5

▲

-22.3

0.3

-401.3 0.9

▼

▼

768.3 ▲-41.5

1.80.2

938.8

-1.9

▼

▼▼

▼

-18.8-25.7

-0.4▼

▲

▼11-10.5

10.1

UBS

▲+7

Evercore Partners15

13*

6.6

1

4,060.8

1

93025

85

20,511.1JP Morgan

-6

16.416.0

4Deutsche Bank

▲ 114

Financial Advisor

2

2

17

2015 Rank

33

Macquarie Group

56

10

-6

-10.3

Any Spanish Involvement Completed (AF41)

0.2

▲


44.5 1

+1

Citi

▼

11Rothschild

2.6


13

Nomura▲

8

0.2 ▲

2.22.112

10.98.9

Mediobanca

1,131.0

▼

▲

3.7

7.3

0.9

0.9

▲

0.7

▲

2.2

2.2

6.5

1.3

1 0.2

-11-2

-3.3-5.9

775.1

10.4

7.7

16

+3

744.61.2

▲

US$mMarket

-4

16

21

▲▼

19* 1929

▲0.6

5.4

2.2

▼

775.1

22

16

Ernst & Young LLP


+3+3

▲▲9.0 2.4

3.8

▲

3.5

1.3

14.2

4.2

# of

7

▲+32.00.7

0.9

0.7

0.7

1.7 ▲+1

0.49.5

3.518.213.1

2.0▲

2.6

▲

83

7.36.5

▲

5.014.26

▲

0

▲

10▼

34

0.9-

1.3+4

1.43.2

+34-

1,921.9

775.2

2,307.2 0.9

▼-13.6

1,608.3

1817

-2.3 ▼

4.5

6-0.2

20

2.2

26

210.9

-23

190.613* 0.4396.3

Lazard

+10.21 ▲

▲+1

0.4+10.2 ▲

▲Cushman & Wakefield Inc▼

20

0.40.4-13.2

0.284.2--

AZ Capital

▼

0.2

45810

▼

1.15-18

158.3 -30.20.1 2

0.2▼7 ▼-8

▲

Ernst & Young LLP Credit Suisse

Aon Corp


5

2122

13

8

-

10,431.4

0.4

33

2,661.6

▲0

16

+20.3

0.5

+80.9

+1

▲

15

Houlihan Lokey

4 0.4

0.1▲ 14 6,150.1

Zaoui & CoPricewaterhouseCoopers

▼-

Share Ch.# of

Deals

Any German Involvement Completed (AF42)

934,538.8

Rank ValueRank Value per Advisor (US$m)

-0.0

211.6%

Market

Industry % Change from Last Quarter▲1.1%Industry % Change from Same Period Last Year

Jan 1 – June 30


Share Ch.

▲

▼0.4

Imputed Fees (US$m)

7.4Sh (%)

MarketMarket

3.9

2.1

▲▲

▲

8.5

5.9

▲

4.22.81.2

58.3+1

▲

2.0

0.4 ▼

▲▲0.2

2.3

-6

118.1%

FeesAdvisor

12.4%

▼

88.53.8

▲▼

▲-4.6% ▼

10

▼17

10

15

1153

910

BNP Paribas SA

0.5

-9

11*▲▲

10.3

+4

-2

4▲

5

2

0.23

Evercore PartnersBarclays

17*

-

0.2 -4

▲Macquarie Group

+3

▲+1

Industry Total

+1

▲+2▲

▲

Nomura

▲

Sumitomo Mitsui Finl Grp Inc2.4

81,803.225

48* 1,201.81,157.8▲0.5

▲ 1,144.316*0.1

▲1▲

-8+1

24

-0.9%

▼▼1.0▲

▲

0.2

0.3

▼▼

▲0.2

0.4

8.9

0.4

2.7

▲0.10.4

0.2▲

▼

0.2

▼

0.60.4

100.0

3.5

786.6

5.1-2

6.2%-37.2%

32.5%Industry % Change from Last Quarter ▼

▼-50.0%-35.3%

-1101.0

▲▼

1,095

2

1

▼-0.7%

4

1.8

# of

-17.0 4

Sh (%)

▼

MarketShare Ch.

6

6

1.8

70.780.6

6

1

2


1.4UBS

-14-6

▼1.6

▼

8

Kempen and Co NV

-30

▲

504

▼-5.6%

10.6

Jan 1 – June 30

-1 ▼

▼

1,038.5

3,134.5

▲

4.9%

1.3

63

2.1

7.31,985.6

-

1,188.9

22

566.415

7.3Guggenheim Securities LLC 21

160.3Industry Total

Deloitte

▲

CBRE Holding SAS 226.52322

CBRE Holding SAS243.6

--Qatalyst Partners

42,883.0

79.5%

243.665* 0.5

-25220.124

0.6

0.4-8

0.5-9.4

490.1

▼

280.0

1.6

▲

1920

0.7

▼

-20.3-

▼

-18.3Mid-Capital 18 669.0

Altium Capital Limited

Sumitomo Mitsui Finl Grp Inc 1615Nomura

-

65*

Gaw Capital PartnersMediobanca

+1

Barclays 17-

11 727.0893.0

2.8Mizuho Financial GroupUBS

1465*

▼9.54.9

2.4

0.12.8

▲0.21.30.1

▲+1 ▲

22.3

10.0

3,894.18

4,291.7

▲

2.80.2 ▲

0.8

2.8

-31.0 ▼

Lazard

64,857.8

▼Bank of America Merrill Lynch

▲146

Citi

4.6

9.112 4,124.37

Rothschild 798

7.557.3

13

3Goldman Sachs & Co 11 -20.3

1.75.6

-24.9

2.4

10

1216

3,192.97.63,236.3

-24.9 ▼1.1

▼

0.50.4

Greenhill & Co, LLC0.1

0.1

▲

0.5

Market

0.7▼▼-3

# of DealsDeals

-13.5 ▼

▲

-3.0Financial Advisor

17*

▲

Rothschild

11*


22.1

17.2

3,112.9

12.8

15.9

5,253.6

Change in

-9 21 2

-4

Puhl GmbH & Co KG

-8▼

0.3

0.1

14,088.113,033.1

JP Morgan

20.2

▼

▲▲

12.8

▼12.8

Augusta & Co PLC1.4

1.1895

▼

▼

6

16,481.7▼▼

5 08

▲


0.5

13

-1-

Morgan Stanley-1 20

67

158.8 -18.3

4,563.6

-9.49.6

3,773.3

5.610.6

0.5Credit Suisse

2Deutsche Bank

5

11,178.922.7

5,120.143 11.9UniCredit2



209,719.9

1Financial AdvisorJP Morgan

Sh (%)

Morgan Stanley 1 11.3

100.044,027.1

Rank Value

▼

Any German Involvement Announced (AD35)

▼Industry % Change from Last Quarter -65.6%

2015 Rank

Market

26.1

2014 Rank US$m

-0.1%

4

Industry Total

▼

▼

3.0

1.7

▼

▲+3-1

+1+1

+4

1.9

-21

0.1

▼ 3.23.2

2.1

64.0

1.0

8.1

25.4

11.3

42.7

25.0

3.3

1.7

31.0

0.420.9

0.2

5.4

1.713.7

0.8

4.71.7 0.2

1.9

0.6

0.6

0.4

-4

16.3

-2

▲-2

-1▼

▼▼

-1

46.7

66.7▼

-2 7.8▼

+5+2-6

+2

▲

▲

▼▲

11

1.5

▼

▲

▼

▲

0.4

Market# of Deals

Change in

-00.7

0.9

1.4

2014 Rank

27

2,661.6

▼

▼

Bain & Co

46,855.2US$m

42.2Deutsche Bank

Sh (%)2015 Rank

57.3

CitiGoldman Sachs & Co

1951

34Lazard

422.1

4.6

20,242.6

▲

▲22,164.0

3.53

▼

30.1

23.818,672.7

27.1▲

-6.622.819,486.0

24.8

24,612.1

▼

12.8

-2.5

6▲

11

▲

15.6

▲

29

23

▲ 31

Jefferies LLC 25

30.2

+10.1

▼

▲

3.3

0.4▲

+1 -19*19*

3,112.9

▲

0.7▲

9.5

3,495.9

-3.8

7.56.4

7,730.2

14.3

2

44

1.0-2.1-5.7

▲3.8

3.3 3.3

▲1.7

1.51.7

1.3▼

5

-

10,431.4

1,389.5

▲1,409.0 1.7

3.33

▲

▼-5.0

-2.01

▼-2.1

▼

▲▲

1

3

14.8▲2 0.2

0.30.6

1

▼-19.2%-2.3%

100.0

▼

1

0.413

0.4

1.0

81.2

4

-14

1.1

1.36

12

0.1

1.5

410 -2

13

▲

Sh (%)Market

0.7

0.4

12.74.87.5


3.6%

-1

▼

0.20.1

0.1

* tie


Banca IMI (Intesa Sanpaolo) Lazard

Credit Agricole CIB

2014 Rank

5

Equita SIM SpA


Sh (%)Market

2.1

▲

# of Deals

▲

Change in

111.42.6

9

40.8

1022


25

4530.0

Rank Value

-9Share Ch.Sh (%)

3*+1

6.4+1▲ 11 5,983.2 19.82

36.2Citi

1

9

0.3

4

▲29.8

2.0

30.8

▲3

-

12.7 ▲30.8

-11

-10▼▼1.6

0.3

-2

Fees

Any Italian Involvement Completed (AF43)

0.3

-3

MarketMarket

▲30.0 28.4

-7

▲30.0

-6.813.4

▲-

▲

▲▲

▼

# of

▲0.930.0

14

+55,832.3

▲ 15.9Goldman Sachs & Co 6▼

▼

15

0

0.7

9

8

+2

0.9

17

+2

+2+6

1.98

-1

0.7

5.35.3

1,495.6922.7

4.71,870.6

+2439 847 6 100 0

-11.9

▼

▼▼

▲-11.5

3.8

▲21.1

1.6

▲

▲0.8

5.3-10.5

-2

4

▲

3.6

▼▼ 1.0

0.73.3

10.6▲

18

1.0

0.810.0 9.5

1.4▼

0.4

500.8

3

2.5

8.9

-8▼

4.5-6

1,692.6

4.03.6

▲

0.8

-3

▼

▼

-1

-5

8.3

26

35.2

-13.7 ▼▼-25.4

2.7

4.9

8.7

2.1

▼3

1

9.1

8.11.4

-7

1

427

▼

3.2

-8.4

▲-5.8

30783.8

527.73.2 9UniCredit 614.718 162.719UBS

PricewaterhouseCoopersAltium Capital Limited

1.9

25

212.3

▲

2347*

24160.4

Industry Total

370.4Lincoln International+2

▲

▼▲

-24

+1-32.1

▲

+1

12

▼

2.1

0.2

▲

▲

▲

0.2

9

9

3

0.5

▲ 3

8.8 ▲

▲

31.1 518.1

Share Ch.Sh (%)

13

6.7

10,499.4

20* -

UniCredit

18

16.5

31.6

2,095.3

2,001.6 5.0

6.5

2.311KPMG-24Piper Jaffray Cos +1

▼

0.5

4.9

5.3

- 16.5

6.24.0

6,572.5

24

2,110.310

-0.83.8

22

25

23

Industry Total

Leonardo & Co

First Annapolis CapitalBoston Consulting Group

9Credit Agricole CIB

-20*

HSBC Holdings PLC7.58.3

5.4

2,095.3 5.3

23 5.5Nomura

19

IMAP 2,199.518PricewaterhouseCoopers 2,133.417

19

11

2,472.2162,979.715 32

21 3,323.4

7,337.8

Rothschild

13

JP Morgan

3

14BDT & Co LLC

UBS

9 6*10

6

12

7


12,461.1

849*

8 41

7,416.8

17,673.45

10,876.7Credit Suisse

Morgan Stanley

2

Rank Value

▲1

Market2015 Rank

Market2014 Rank

19,130.9


MediobancaGoldman Sachs & Co

Financial Advisor

4Lazard

Any Italian Involvement Announced (AD36)

Deutsche Bank

20Citi

13,631.7

4

US$m

3 18,071.2

12,571.7

5

▲▼▲

18.6

17,457.8

122

1

0.9

0.224

3 0.7

Jan 1 – June 30

Barclays

▲

Financial Advisor2015 Rank

10

2


0.8

Jan 1 – June 30

1 ▼18,086.9

7,033.5 1.7Deals

0.8

4

364

0.5

2.5

▲

8.21.2

+1

26.0

▼8.3

4.1

+1

▼

259 9

2.0

1.0

0.4

▲

1.5

▲

0.1

8.1

▲

+201.1

100 0

6.7

-▲

-

▼0.5

▲0.3

+1

-11

0.3

-

▲

3.1

▼

2.7

6.2

0.4▼

23.2

11.7

▼3.0

-2.8

▲

2.62.3

▼1.0▼

▲0.9

▼0.10.4

▲

1.2

3.3

3.4

8.5

0.8

4.3.7

11.2

7.3

1.3

7.0

Sh (%)

Imputed Fees (US$m)

# of DealsAdvisor

3.3 ▼

4.30.6

▲

▼

3.2 2.1

16.1

Share Ch.


1

US$m Sh (%)Market

1,765.612.0

+6

6

Market

1

MarketDeals

1.1

# of

5,832.3

11

+3

▲+93*

43.8 34.6

18.6

26.6

91.3

▲▲

45.4

48.045.4

44.4

22.75.7

2.1

1.2

▲

MediobancaJP Morgan

▲

+32.1

▼▼

4.5

▼2.5

26.4 8.7 3.51.91.6

9

3

13

17

14

▼

1.4 ▼

4.9-10

+10.5

866.5

623.6

15 ▲

1

52

1.4

+2-7

▲

0.3

0.3

▼-4

453.0

19 438 4

225.6

▲

185.1

▲

164.2

5

1.2

0.8

697.0 2.5

2054*

-

29

1.1▲

+2

▲

100 0

Morgan Stanley

-6.42.9

-23.4

12Ernst & Young LLPSociete Generale 16

▲

7

7

2.31.9

Leonardo & Co 953.8

22BDO

▲1,580.11,614.7

5,832.3

2.3

12

31.327.3

18.4 -8.8+1

5.2

0.73

34.2

▲

3,092.6

EMEA Rankings

▼-17.7▲2,336.7

2,601.8

Change in

Credit SuisseStifel/KBW

Rothschild

3*

▲

▲

-8

-3

▼▲

▼ 54*

6▲

▲

24

10Deutsche BankHSBC Holdings PLC

23

9


▼

▼


52KPMG▲

▲

-

8

152.2

528

1.4▼▼

0.8

+20.51.0

0.8

1.2-8.5-3.2

▼0.7-1

+2

3.1.3

1.10.1

1.20.7

▲

3▲

-16▼▲

▲

Lazard PricewaterhouseCoopers

5

+1

3

-11

0.3

-15.3 ▼0.7

1531

0.5

0.3

3.9

3

0.825

▲

4.0

-8.3 0.5

▼

12

11.0

▼

▼

609

Morgan Stanley

11.0

5.6

0.4

▲-

China International Capital Co 21Clairfield International

Goldman Sachs & Co 12 1 1,904.2

8.9

M&A InternationalCatella AB

UBS

FTI Consulting Inc

Global M&A

2223*23*

27.9%

38,376.1

16

25

+4

▲

0.6720.9

-21

-

+3

00

▼

100.0

▲22.0%

Industry Total

-33.2%▲▼

1.9▲

-172

-22.0%

▼2

▲0

-2+1

-2.0

2.6

▲▲

0.3

▲

2.3

0.32.3

1.9

2.2899.1 2.32.4

30.2

890.1 0.52.32.3 1

+1▲ 0.2 2.2▲ 2 9.3

+1▲▲

1,353.9 -0.3 8.81▲

0.2 -5▼ ▼9.7

2.7

4.5

▲

3.5

Carnegie 2.31,512.3-

19 151.0 ▲

0.57.1

▲0.816.1 2.1

0.9

13.21,496.5

▲3.9▲

▲

▲0.33.9 +6

2

1,549.6 ▲+20.83.9

2.8 61,494.3

2.8

+4

-10-17.4

▲+3

-38.8 ▼▼

3.8 ▲

14

▼

0.3

2

▲0.70.5

▲1.5

3-12.1

1,001.9

3.5

901.6

30

1,359.5

36*2.4

890.170*

-

▼▲

Change in

+24

101.8% 6.0%

Market

39,847.6 100.0 427

2014 Rank Share Ch.


▲

Market

Industry Total

MarketMarketFeesDeals

Change in 2015 Rank

▼

Market

▲

▲▲

Rank Value per Advisor (US$m)Rank Value


14.6%-25.7%

▼

Nordea

Pangea Property Partners AB

▲-3 ▼

0

Swedbank+3

▲

Arctic Securities ASA

5

0.7

Bank of America Merrill Lynch▼

-1

▲

+20.9

Lenner & PartnersDeloitte

0.2

20

9

13

-1

10

+7

0.3▲

4.4

18 3817

49

70*

146

3.9

1,685.9

16

70*87

18.7

9.2

2

6,954.16

4

426.2Nomura

▲

0.1-

0.2

68

433.3

1.1

▲

0.3

-2

6

3

1.10.1

3

+4-4

-2

▼

0.8

23.4%-12.2% ▼

Industry % Change from Last Quarter0.9%-26.5%

0.1

▼0.2

32

-25.6%

100.0

-57

11

477.0

US$m

32.3-4.9

-14.5

20.6

17,727.8



2015 Rank

Any Nordic Involvement Announced (AD37)


Industry Total

Share Ch.# of

Jan 1 – June 30

Deals

32.3

37.9

Sh (%)22.9 ▲

▲

41.6▲

17.917.7

13,784.437.3

▼

7

-0.9▲8

8,774.7

16.6

10 2,684.922

16.6

7,213.5

11

15.5

▼-20.72.4

▲1.2 ▲2.6

2.5

▲ 0.3

7 0.824 2.7

3

1

▼▼

▲

-2

+1-610

10

10

▲

+3

▲

0.1

1.0

1▼

1.0

16.93

0.3

0.60.8

SEB 3

9,361.0Sh (%)

1.0

1.1


▼

Lazard

20.7

Deutsche Bank5

▼

1.0

0.91.0

-0.6

▲

▲

-1.9

▼

▲

0.60.8

2

1.00.1

0.70.5

1.7

▼

2.7 ▲1.2-2 6.1

100.0492.8▼

▲14.4%

27.2

23.7

▲

▲

▲

▼-4

-1

-1

2.3

▲8.5

3.8

3▲ 10.6

15.5

12.88.7 ▼

3.4

11.52.9

▲

2.6

1.30.1

1.7

▲▼

0.23.3

16.7

0.30.3

5.5

▼

16.2

-▲▼

0.3 ▲

-4

21

▲

-2

+2

3.4

1.1-7

02

▼

5

▼

18.14,210.8

2,250.02,573.92,768.33,432.2

17.6

-2

4

▼

13.4

4US$m

▲

8,168.4

24


Financial AdvisorSh (%) # of Deals▼24.4

-8.3%Industry % Change from Same Period Last Year

Citi 1

# of

364

Market

259.9

▼


+20

-17

7

0.5

22.0%-29.6%

# of Deals

10.0

4.6

▲

100.0

Imputed Fees (US$m)

2.7

Sh (%)

0.31.1

2.0

1.9

▲

0.5▲

▼

▲

0.1▼0.1

▲

▲0.81.4

▲1.8

1.3

1.20.3

3.3

3.1

▲

11.10.1

1.8

0.1

▲

0.60.7

2.1

▼

Share Ch.▲

1.8

▼

▼0.41.3

3.6

2.6

Market

2.022.7

Advisor

Jan 1 – June 30

▼4▼

7,177.2 9

19,438.4

5.9

8

6.77.2

-18.23

▲

0.1-3

▲

0.3

0.3

3Moelis & Co-124

0

426.2

325.184*316.1

42,645.82524

Industry Total


ING20* 84*

894

OXEYE Advisors B.V.ABN AMRO Bank

CFI

NomuraKempen and Co NV

15Mid-Capital

20*

20*

Rothschild


-

38

-

14

19580.4

6,954.1 16.3

1.6896.8 2.1

1,610.96.2

692.0

1,037.4

2014 Rank

7

-

3.81,051.6

3533

62

16,179.215,913.5

1 6

65 2

42

1

Morgan Stanley

7Deutsche Bank

1.4 1.4

3JP Morgan


2,638.8

9

Catella ABNordea

Pangea Property Partners AB

426.269

19

37426.2-

20*

SEB

Lenner & Partners

Deloitte

16

-

1213

Mooreland Partners LLC 1718

Goldman Sachs & CoZaoui & Co

7,077.77,063.442

Citi

45

Danske Bank38

4.3

2.7

-4 ▼

▼

2.0

▼

78.3%

4

18.2

▼

21.3

Any Nordic Involvement Completed (AF44)

5.8%

6.04.36.3

1.1

▲

Sh (%)

Danske Bank

-

-1

5.0

1.6

6,988.3

11

2

22

1.0

▲

1.0

▲▲

21.3

▲

15.9

100.0

3,539.8-10.5

Rank Value

9

▼61.7%

JP Morgan▼

39-5

▼▼

11

▼5

▲

▲ +1

2

* tie


HSBC Holdings PLC Kempen and Co NV11.7

-16.4▲

▲4

0.96

6.2 ▲

2,050.9

2.2

1.6

2.0

11

▼

-6.9

12

2.1-0.6

1.45,522.4

▲

0.2+8

▼

5.9

7.3

# of

10.9

1▲

▲

▼

14Deals

▲▲

Share Ch.

74.2 -1

+5

10.2

+5

3

8+2

0.2

14

+1

▲

1313.5

0

▲

▲

11.68 ▼

-1.9▲

21.3

▼

8.9

38.02

2015 Rank

1

Rank Value per Advisor (US$m)Change in

+6

-3

▼-3

ING

Barclays▲

14,046.4

10* 10,431.4

▼

Goldman Sachs & Co▲ Morgan Stanley 2

12* 34

10,431.4 11.711.7-

▼

100 0

6.0

8.1Perella Weinberg Partners LP

142312*

-22.0 3.1▼0.5

Banco BTG Pactual SA

▲▲

+1

UBS

0.8

▼

0.1

▼▼12.2

1,776.6936 7 100 0129100 0

Societe Generale 2.0 -1▼▲ 14

2

6522

13▼-0.9

2.2▲2.3

88 908 8-4.7

▼ -5 ▼

▼0.2 0.7

0.4 ▲0.2

1.30.2

0.213 2.02.3

2.00.3

2.2 -1.8

120.1

▼ 10.7 ▼

0.3

+10.2

-6 1.6

▼

▼

-110.50.8

3 -15 +1

1.8

1312.9

129.2

26.9

20.3

33.4

21.4

15.8

31.8

33,790.0

28,270.323,871.1

2.1US$m

MarketImputed Fees (US$m)

Any Benelux Involvement Completed (AF47)

Change in Sh (%)

▲

43,353.9 48.8# of DealsSh (%)

Rank Value Market

1.8

68.592.9

▲

0.3▲5.0▼

1.79.9▲

Market# of Deals per Advisor

Financial Advisor

239

1.1

2

Any Benelux Involvement Announced (AD40)

JP Morgan

2015 Rank

106,664.321.8

▲

Rank ValueUS$m

EMEA Rankings

Sh (%)1427.7 +4

2014 Rank


Jan 1 – June 30

Market

61

33


67.6

Share Ch.Market

▲▲62.7

-4.4

67.7

▼

12.251.4

▼

54.916.8

-21.811.0

51.4

4.5

DealsSh (%)

9

Market

4.9

0.9

+1

-▼

-32.0

0.1

0.8▼

Centerview Partners LLC0.4+3

▼0.5 ▲

57

15 -34

1828

26

7,208.3

-20.0 1.2179

60*

7,208.3

▼-10.6

4.8▼

Citi

8.17.36,506.1

4,219.6

24

201617

-1.12.42120

619

4,361.7HSBC Holdings PLC

KPMG2,158.8


2,713.2

2,056.910

1,965.0RBC Capital Markets

24 212322

8

Industry Total25

Rabobank NV▼

12 -13-7

2 +2

-20.3

0.1

1.8

-51.8

4

+1

-9▲

▲ 11.01.0

0.3▲+1+1

6

779157 648 4

1,508.214

▼

21.0 ▼

1

1,527.1

▼

▲

1,505.0

1.1▲

2▼

14

▲

▲

6.2 +1

-41.5▼

▲5,297.5 6.05,336.1

▲

0.2▲

▲▲

1.42.7

0.1▲

▼-

0.7

▼

▲1.7

▲

0.2

27.810.2

10.2

0.11.3

▲1.6

0.6

0.1

13.21.7

-3+1

-2

▲▼

0.5

1

▲

+1 Puhl GmbH & Co KG

4.3

19

1.3

8 22.0

-20.3 Leonardo & Co

15

Jan 1 – June 30

-19,572.4

13 ▼▲9

5Deutsche Bank15

▲1.9

1.2

7.3

AdvisorFees Sh (%)

1.2

▼

▼

1.4

▼

▲1.9

10.7

4.1

Market

78.8

3.4

▲

62.1 6.637.948.5

Share Ch.

▼

0.7▼

▼

0.0

▼

28.0

25.0▲

1.015.5

2.7

-1

▲

-1

13.1 1.41.9

1.012.4

1.11.3

▼

-

▲▲

▼

9.4

8.8

3.0

0.9

▼

▲3.0 ▲

0.5

4.0▼1.1


▼

8.4

Market

5.2

1.937.8 0.6

1

▼

Credit Suisse

▲

BNP Paribas SA▲

12

10*

8Rothschild

3

3

18,037.6

JP Morgan6

19,047.79

4429,735.3

1.8 ▲

0.9

▲ +1

7▲

5

▼

0.1

▲1.9

1.701.2


Lazard

+3

# of Deals1.8

-

0.1

0.4

81,009.71

1.8+1

▲

▲

+1

Lazard

8 11 7,083.2

19,272.3

Goldman Sachs & Co

86,566.92Bank of America Merrill Lynch

106,542.5

Morgan Stanley 498,807.6

10

6 15

-23.1 63

5

4

Financial Advisor2014 Rank

▲

17,333.7BNP Paribas SADeutsche Bank

-

12* 2,897.92,897.9

259

7

11

Barclays

Robey Warshaw LLP

1.8

2,900.0LionTree Advisors LLC

14

3,432.210

23

20


19

Zaoui & Co

83*

17

Citi

15

22

18

EFG Hermes Brokerage UAE LLC

Industry Total

23

21

-

NomuraCredit Suisse

Rabobank NV-16Rand Merchant Bank

-12*

14

12

24

2,317.3

2,158.8

PJT Partners LP

Societe Generale

1.8

1.11,776.6

41

24 1.01.1

2,773.1

-

1,970.85

2,248.9

1.0

Blackstone Group LP

1.5

-83*

25

40

Industrial & Comm Bank China

KPMG

1.0

-1.41.0

Jefferies LLC

1.21,923.5

2.2

-39.4

-1.4

1.8

1.8

1,639.2

1.81.8

1.4-21.4

3.6

1.4

0.81.2

1.1 -30

+4-5

1.82.00.5

-17.8

1,707.6

5,602.9

1.31.4

▲ 1▲ 1

1

+11

▲

7▼

# of

0.1

Quarterly EMEA Cross Border Volume

100.0 936.7

▲▼▲

▼ 0.6%

100.0

20.3%▲

-129100.0

2.5%Industry % Change from Same Period Last Year 44.3%

Jan 1 – June 30 2015

▲ Industry % Change from Last Quarter▼

652

▲

88,908.8-239

▲

* tie

Industry % Change from Same Period Last Year ▲ -0.6%Industry % Change from Last Quarter 360.9% 4.5% -41.7%-52.2%

55.0%

Industry Total779157,648.4Industry Total

EMEA Inv. Announced M&A Target Sector by Value ($bil)

$128.9

$117.9

$77.0$59.4

$57.6

$52.6

$45.0

$37.3

$33.4$32.1

$29.8 $17.1

Energy and Power Healthcare Materials Telecommunications

Industrials Real Estate Financials High Technology

Media and Entertainment Retail Consumer Products and Services Consumer Staples

`

0

500

1,000

1,500

2,000

2,500

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4 1 2

2007 2008 2009 2010 2011 2012 2013 2014 15

# of

Dea

ls

Ran

k Va

lue

(US

$b)

Inbound (US$b) Outbound (US$b) Number of deals


62.2 1Anglo Chinese Corp Finance

22.922.3


Asia Pacific (ex-Japan) M&AAsian M&A Rises 74% I Imputed Fees Up 10% I Australian M&A Up 14%

13,789.1

10,746.7 4

Morgan Stanley

1 616,449.4 71,911.0

516,066.5


KPMG

1

2*

High Technology2*Goldman Sachs & Co

13,405.8

Southwest Securities Co Ltd

77,942.7 Industrials3

1

Rank Val US$m83,747.3

ShareMkt.

Rank

49.1

183,196.2 35,632.4 35,632.4 Bank of America Merrill Lynch

HSBC Holdings PLCReal Estate 359

No. Deals

Asia Pacific (ex-Japan) Deals Intelligence


Telecommunications

41,082.7

73,009.4 65,578.7

Asia (ex-Japan) Involvement Announced Advisors by Target Industry

14.9

3,157.8 Lazard810

115

The value of announced Mergers & Acquisitions involving Asian companies reached US$590.1 billion in the first half of 2015, a 74%increase compared to the first half of 2014 (US$339.2billion). The Real Estate sector led the Asian market, with deal volume totalingUS$83.7 billion. High Technology followed closely accruing US$83.2 billion.

The Telecommunications industry in Asia saw the most significant increase in activity, accruing US$73 billion in deal volume, from justUS$6.8 billion during the same period a year ago. This increase in activity was driven by Cheung Kong (Holdings) Ltd's US$45.4 billionacquisition of the remaining 50.035% interest it did not already owner in Hutchison Whampoa Ltd and Hutchison Whampoa Ltd'sUS$15.4 billion acquisition of Telefonica's O2 PLC.

Imputed Fees earned for the region were estimated at US$1.4 billion, a 10% increase from the US$1.3 billion earned during the sameperiod last year, according to Thomson Reuters/Freeman Consulting. Goldman Sachs & Co was the top earner with US$86 million infees.

China cross-border activity accrued US$72.6 billion, a 47% increase from the US$49.5 billion accumulated in the same period last year.Outbound investment volume reached US$48.2 billion, led by acquisitions in the Industrials sector.

Announced M&A activity with Australian involvement reached US$75.4 billion, a 14% increase over the US$66.1 billion recorded in thefirst half of 2014. US$37.4 billion of the total volume was cross border activity, with outbound activity representing US$17.2 billion.

42.6

11,619.3 2

975 1

2

711

12.711

2*3

14.9

62.2

8

53

4

Jan 1 - June 30 2015

6

3.8

2

42.61

2

Financials

11,546.8 13.9

17.7

Huatai Securities Co Ltd10,600.9

89.8

17.2

2

45,410.8 2*

3Bank of America Merrill Lynch

2

JP Morgan

UBS

Goldman Sachs & Co

3/24/2015CITIC Ltd (11.8%) Chia Tai Bright InvestmentPending Hong Kong / Hong Kong 5,924.0

5/18/2015 China Overseas Land & Invest (17.11%) China Overseas Holdings Ltd Hong Kong / Hong Kong 5,518.91/20/2015

High Technology / Software6,845.6

Jiangsu Hongda New Material Co

Hutchison Whampoa Ltd Hong Kong / United Kingdom

Shareholders

8,778.8

35,632.4

Investor GroupChina / ChinaFocus Media Tech Shanghai Co (100%)

Telecommunications / Telecommunications ServicesRank Date Date Effective Target (% Sought/Acquired) Target Macro / Mid IndustryRank Value (US$m)1/9/2015

China Cross Border Announced M&A

Cheung Kong(Holdings)LtdCheung Kong (Hldg) Ltd- Ppty (100%) Hong Kong / Hong Kong6/3/2015

4/20/2015 Pending

45,410.86/3/2015

SK C&C Co LtdSK Holdings Co Ltd (58.2%)

5/26/2015 Pending Samsung C&T Corp (100%)1/23/2015 O2 PLC (100%)Pending

3/22/2015

6/17/2015

Intended Pirelli & C SpA (73.8%) Bidco SpA Industrials / Automobiles & Components

Asian Completed M&A by Region - Imputed Fees

15,381.2South Korea / South KoreaCheil Industries Inc

South Korea / South Korea 24,066.1

11,238.8Telecommunications / Wireless


Industrials / Building/Construction & Engineering

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

Hutchison Whampoa Ltd (50.04%)Acquiror

6/3/2015Real Estate / Other Real Estate

China / China

Italy / Italy

Jan 1 - June 30 2015

Hong Kong / Hong Kong


Real Estate / Other Real EstateFinancials / Other Financials

High Technology / Internet Software & ServicesPending Qihoo 360 Technology Co Ltd (100%)6/3/2015

10,306.4Pending

0%

20%

40%

60%

80%

100%

$0

$10

$20

$30

$40

$50

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

% O

utbo

und

Ran

k Va

lue

(US

$b)

Outbound (US$b)

Inbound (US$b)

% of Cross Border is Outbound

$0.0

$0.1

$0.1

$0.2

$0.2

$0.3

$0.3

$0.4

$0.4

$0.5

1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15 2Q15

Impu

ted

Fees

(US

$b)

North Asia South Asia Southeast Asia Australasia


Citi Deutsche Bank

100 0Industry Total 2 681 1 385 25 591

- 1.114.6

▼2.4

7

356 589 0

8,100.0

9,736.5

15

2223

▲

2021

▼

▼

+11

4.4

▲

-1.2

1.8

▼

5.3

▲

▼-0.7

▼

-34590 084 8

▲

41

21 13

22

+886100 00.8▼

1.7

-2.011,831.6 2.0 -1.8 ▼

0.1

44

2.4▼

13

0.10.5

-6Bank of America Merrill LynchSomerley▼

0+10

Anglo Chinese Corp Finance

-3

5

-7

0.1

22

▲

-0.71.7

10

2.7-3

▼ -0.20.219

9,630.1

Any Asia (ex-Japan) Involvement Completed (AF32) Jan 1 - June 30


1

Somerley 4 3

2

KPMG

Credit Suisse +12.8▲

Morgan Stanley7UBS 16

0.3

110,048.8 +2

-3.7

▲

11.1

16.2

0.2

34,776.1 5.9

▲6

65,255.9

20,167.9


2014 Rank

Rank Value

-

00.3

Goldman Sachs & Co

Imputed Fees (US$m)

Sh (%)-

Anglo Chinese Corp Finance 3 46 82,106.7

▲

5.126

13

0.3 14LazardJP Morgan

0.737 6

5.6

15

9.72.6 14

3.1 ▲

19,827.6

-11.5 ▼

Change in # of Deals

# of

18,044.2

10

19

13,692.1Credit Suisse▲

618.7 ▲


Share Ch.

HSBC Holdings PLC21.3Goldman Sachs & Co

19


1 6 125,445.7 +3Share Ch.Sh (%)Financial Advisor

0.9▲2US$m

MarketMarket Market# of Deals FeesDeals Sh (%)

11▲

MarketChange in Advisor

▲6.2 0.186.0

Market

2531.3111,718.11

# ofRank ValueShare Ch.

2014 Rank Sh (%)

10.5 0.52810

19.2▲ 2HSBC Holdings PLC 25.1 18.8

24.189,374.2

0.4 1.81086,029.6 24.1▲

24.7▲ 1.8▲1.70.4 +2 ▲ 48.6 3.5

▲12.8 1.5▲ 22.9▲▲

5.271.8+8

▲▲184*13.9 ▲

2813.4-4.4 4

3

Bank of America Merrill Lynch 5 7 65,096.1 11.0+216 0.64 81,769.3

13.75 65,857.4 18.5

China International Capital Co 2326

48,685.96-132 0.6+1

▼57,419.3▲0.9 +11

2.6 2.11.6 0.4

▲+1011.7

▲▲11.1 35.622.623 ▲▲16.1

1.0 ▲15 0.6

0.72041,814.4Citi 713

0.380.5 +1 ▲

3 ▲-2 ▼ 69.9 1.95.10.5

▼0.4 -2 ▼ 43.010.838,403.9

▼21 1▲5.7 ▲ 11 3.1JP Morgan 8

Deutsche Bank 9 8 16UBS26

▼-3.6-16

10 30,996.226,210.8

0.4-9.9

28,410.1▼ 10 8.0 -0.810.035,642.8 3.30.6 -18 ▼

▼ 0.6▼

17 -345.1

5Industrial & Comm Bank China3.4 ▼ ▲ 1.6 -25

10 5 22,279.7 3.8 -7.10.13 43Moelis & Co 11 1.81259 7.311-5 25,873.5 38.0

▲4.3▼ 60.02.7

0.5

▲-1 ▼ 15.3▼

+10 ▲1.1

0.5 ▼

13 ▲ 7.5▲

5.60.522-12.8

19,838.813

▲

12 2 20,066.95.1 ▲5413

+1238 16,518.7

▼9 16,713.2

2.8 2.0

3.4CITIC▼ 22 0.4 15 0.6

0.4 +5 ▲ CITIC

Guotai Junan Securities 140.4 ▲

12 27 25,788.2 7.2 4.80.5

Southwest Securities Co Ltd 15 33 16,485.1 1.6 ▲2.8▼9

14.5-80.1 ▲

3▲

▼▼-2.0 ▼ 25.3-70.3 1.8

Lazard 16 14 15,438.5 2.6 1316 ▲▼1015

1.0+130.5 8

-0.2 3.8▼

0.5▲▼

3.83.5 -4.7

0.1▼ 62.9 1.44.50.6+26▲▲ 21

17 -512,416.8▼ 18

Huatai Securities Co Ltd 173.6+518Rothschild

15,214.4 2.6 1.921

▼21.6 1.2▲0.80.2 24

-3.1▼-13 3.111,137.4 0.6

Barclays 11-4 2.7190.20.3

1.6-519 1813,366.8 Huatai Securities Co Ltd2.3 0.0

Mizuho Financial Group 20 58 11,957.2 2.00.2Nomura 12,572.1 ▼2.1

0.110▼ 6▲ 0.4

0.2 ▼+5▼ Guotai Junan Securities▲

RBC Capital Markets34

▲9,614.6-36 ▼-1.5

2.7 ▲▲ 2 0.1 +2▲

1.1

8,624.7 1.0▼

2.70.5

26▲0 - 47.0 3.48,642.8 2.4 14 1.5▲0.4-10Banca IMI (Intesa Sanpaolo) 23 126 0.1▼ 4.89,060.0 Ernst & Young LLP

1033▲1.5 1.4 16+2 ▲

▲1.51.5Mediobanca 24 - 8,876.7 24+22-1.0

Wells Fargo & Co

Haitong Securities Co Ltd 22 15 10,705.9

0.0 ▲+325

0.02.31.9 .5▲1.9

0.1-0.1

2 518100 0

▲ 1 02.2-0.0 0.03 ▲6,852.2-1.0 -1.3

Jan 1 - June 30Any Asia (ex-Japan) Involvement Announced (AD25)

25PricewaterhouseCoopers 20 6,035.4

Asia (ex-Japan) Rankings

0.1

Rothschild

0.0

Great Wall Securities Co Ltd

1.0

2.02.4

Haitong Securities Co Ltd0.6

Industry TotalNortheast Securities Co Ltd

-1.9 ▼ 1.00.1

Deals Sh (%)Market

US$m2015 Rank

5.6Morgan Stanley 90.4 -3



Gresham Partners Citi

Treadstone Partners Pty Ltd 1.8

+1

-

▲ ▲

2

+1

+3

6,021.2

2.0

100.0

1.9+6

Industry Total

▲8.1%

486

0.1


BBVAIndustry Total-95

606.265,673.8

24* 0.9 ▲ +1-▲606.2

0 -

+2

Barclays

1-95

134.4%

2,681 1,385.2

▲

0.45.8

▲

▲

2.1▲

▼-1▲+1 2.1

9.8

+1 2.1

12

-16.4%

0.4

-11.8% ▼

▲- 0.8

0.5

2.5%▼

0.2

598.6▲

▲

4.60.2

▲

100.0

▲ ▲

1

-28.6

0.1

0.3

1

11

2.7

1

▼

▼

2.8

1.6

100.0

0.31

▼

0.60.6

2.40.1

▲0.4

▼▲

0.2 0.4

▲

▲

▲

0.2

0.71.6

▲

+1

▲1.0

▲

1.7

0.40.40.4

▲

▲-40.6

1.43.8▲ 0.2 ▲+1

7

▲

48.0

3.4

Credit Suisse1 12Rothschild 13 5

8.0

Flagstaff Partners Pty Ltd-2.7

02,214.9 0.1

+1

2,178.4

+1 24*Evercore Partners▲ -

▲ 0Mitsubishi UFJ Financial Group

Bank of China Ltd11.9▲▲

-1

1923

1

▲-▲

▲▼

1.9

0.32710

22

-▲ 190.3

4819*19*

1.5

1.9INFOR Financial IncBMO Capital Markets

▲1.973*

1219*18

9.4-

25

-

1,513.61,458.41,458.4

2.02.01.9

1,458.40.1

0.1

JP Morgan 2.82.81015

16 182,140.32,134.7

40 2.4▼ 15-9

14--10.4 0.8

▲

-

Grant Samuel

17 35*960.5-

51,521.41,521.4 2.0

1

-4

1

2.92.9

▲1.3

1.3▲

▲-

271,887.1

▲

2,078.4

20*

Cenkos Securities PLC

▼ 20*China International Capital Co▲

1.51.3

▲1.3

0.6▼

▼ 16

▼

Greenhill & Co, LLCJP Morgan

-50.3

1.10.9

1.3

-

720.0

-835.2 1.3

9

2.3

1.3

3.42,214.94.8

4

18854.5

1.5

11

7 -22.63,163.03,550.6

▲▼

5.8 ▼

-2

3

4

▼

2

129.2

3.2

0

2.9

-2 ▼ 20.1

5,591

14.2 ▲1.5

Lazard

13.3-10.5

1 29,856.5 45.51

10,282.337.715.7

Macquarie Group 2 26,648.7 40.6824,732.03

-20.95

6

10

6,713.2 10.29

2.79.8

4

67 6,354.3

6,054.3Gresham Partners 8

6,408.939

Deutsche BankMoelis & Co

▲0.9

20.1

JB North & Co Pty Ltd

0.9

1.320* 835.2

835.2

▲-20.7% 385.8%17.1% Industry % Change from Last Quarter

▼

0.2

+1

0.8

0.8 -8

-

▼

0 2.8▼

0.5

-6

0.2+10.2

14.4

1.0

▲ 11.4

+1

-

▲ 1▲▲

-3

5 0

▼

6.9

0.2

0.6

4

▲

3

1

9.2 2.4

▼ 0.8 0

1.00.8

-6

2.3

0.7

0.4

25.83.6

18.6

10.1 1.7

+116.6

1.7

0.8

▲

+4▼▲

3.1▲

▼

0.2

▼

1.7

▲

3.0

▼

0.90.7

▲

▲

▼

13.9

4.3

4.0

21.3

9.910.6

0.82.9

▲

▼▲ 13.6▼

15

-40.8

▼17.3 0.7

0.5

▼

▲▲

1.8▲

2.9

3.4

-40.2

2.8

85.4%

356,589.0

6

UBS

▼-2


6,191.7

▼▼

-4.913.7 6 ▲

▲+5

-11 ▼▼


15

# of Deals

▼4 -3

-5

-12.6

0.6

13

1.3 +3

29.123,559.2

13.5

-0.8

Financial Advisor

Goldman Sachs & Co-5

14.29

▼0.8

0.8

0.79.5

-2.6

56,867.0

10,181.1

▲

21,948.5

12,982.715,023.6

9.1

▲▼

17.2

8

51*

7

10Credit Suisse

7,160.27

6Morgan Stanley 8

Lazard 11


-7.9

19.9

10,692.1

1.8

Deals

▲

10

2015 Rank

2014 Rank

Market

Any Australian Involvement Announced (AD24)

Market


590,084.8

MarketSh (%) Share Ch.

17.4

Change in

31.337.8 ▼

# of

+886

32.3%

100.0

5.5 ▲1.42.1

18.8%

23*1,389.9

100.0

Euroz Securities Ltd 37*

960.5

1.8


75,392.8

23* 1,365.9Cenkos Securities PLC

▼

14BarclaysFlagstaff Partners Pty Ltd

Hartleys Ltd

Rothschild

Azure CapitalGreenhill & Co, LLC 17

CIBC World Markets Inc

13

6,059.4

10.1

25

14.0%Industry % Change from Last Quarter

Industry Total

▲

1.31.8 ▲

1,365.9 1.8

1.3

1.0

Sh (%)

Jan 1 - June 30

-2,518100.0

▲10.1%6.5%

▲1.2▼1.28.6

Market

12.7

Share Ch.Market

▼83.43.1

-11 76.13.7▼-3

Jan 1 - June 30

11.8%▲

Any Australian Involvement Completed (AF31)

▲▲


MarketMarket2014 Rank

111.8% ▲

Sh (%)

▲


1.3%

Share Ch.

Imputed Fees (US$m)

DealsMarketSh (%)

2015 Rank

Change in

▼Fees# of Deals Sh (%)51.3

Advisor

-10

31.0

2.1

0.6

6

18

1.2

40.6 9.2

106,021.24,496.4

Mizuho Financial Group▼-4

4

8.0

-9.4▼

▼

▼-2.1-6.6

8.2▼

2

0.8 70.3

▲▼

1.0

26

-1.6

Macquarie Group 2

-

2

5

1

41

9Mizuho Financial Group 12

Goldman Sachs & Co4

Moelis & Co

9

-33.9

-24.9

5.43,786.8

9.5

-

▲


US$m

39.5% ▲

9.7


3

UBS 1 4US$m

Rank Value


Financial Advisor

15

Citi

3

6

Deutsche Bank5

+2

▲74.0%

-828,506.2

4.5

0.50.8

0.8%

Morgan Stanley▼▼

3 -29.32


Industry Total

11

▲

Rank Value # of

10

4

https://www.thomsonone.com * tie

Visit http://dmi.thomsonreuters.com to view archives and order custom League Tables16

▲

Rank Value

1

▲

100.0

816.7

-

6,181.1

4,919.4

▲

2*

Market

1.5

▼

2.5▲

0 0%

57.5

-23.7%

▲+2

▲4.3

-▲


3.4

-16.0%

68

▼

-13

60.2%42 9%

1.51

14.0

▲75.5

Sh (%)

+11.1

+2Sh (%)

+1

Asia (ex-Japan) Rankings

1 3*-- 13.2

34.5+1

▲2*

28.5

Imputed Fees (US$m)

+1▲

Change in

▲

+119.1 7.6 ▲

1 +1 13.27.6+1

Share Ch.▲4.4

MarketAdvisor

19.8

MarketFees# of Deals

▲

100.0

-

5.5101.0 5.51,840.2

MarketSh (%)US$m

Market

14.02*

2015 Rank


▲

Jan 1 - June 30



Sh (%)Rank Value

1.5

3

Market # of

75.5 1.5

Sh (%)DealsShare Ch.

75.5 ▲▲

56.6


2014 Rank

Any New Zealand Inv Announced (AD39)

2*

4,665.9

JP Morgan

14.0

Industry Total

257.5

79.6

75.5

Any New Zealand Involvement Completed (AF46)

14.0

4.4▲

▲

7.64.4

100.0

1 4.475.5


187 -17

2.5 4.4 ▲

Jan 1 - June 30

▲1

1.1

63.6%-16.3%

1

2 2.3

Change in

# of Deals

5

▲+1

0

1.1

Market

Asia (ex-Japan) Buyside Financial Sponsor Activity


Goldman Sachs & CoFinancial Advisor

2*4,665.9

2014 Rank

4,665.9

-

US$m2015 Rank

75.5

▼

563.8

247.6%

Barclays

▲9.1-

Citi


▲-88 3%

Haitong Securities Co LtdIndustry Total


▲

▼216.9%Industry % Change from Last Quarter

▼▲


6 -

▲▲

257.5

-29.8Sumitomo Mitsui Finl Grp Inc

514.0

7.1

Nomura

129.8

2*

Financial Advisor

Macquarie Group 2*

8

2*Sawaya Segalas & Co LLC

1▼▲44.4

14.03

-22.941.6

# ofDeals

MarketShare Ch.

$6.0 $3.1$9.6

$0.9 $3.5 $6.0 $8.9 $5.9$13.1 $13.7$7.4

$4.0

$3.9$3.9

$6.6

$13.3

$8.2

$17.6

$42.7

$4.4$3.9

$5.1 $3.3

$8.1

$11.0

$6.6

$31.5

$7.4$2.3

$2.8

$17.3$5.9

$3.4

$9.6

$14.1

2.3%

3.1%

7.8% 9.3%

10.3%

8.0%

11.1%

7.8%

14.2%

13.7%

0%

2%

4%

6%

8%

10%

12%

14%

16%

$0

$10

$20

$30

$40

$50

$60

$70

$80

$90

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

% o

f Asi

a (e

x-Ja

pan)

Vol

ume

Ran

k Va

lue

(US

$b)

Q4 Volume (US$b)

Q3 Volume (US$b)

Q2 Volume (US$b)

Q1 Volume (US$b)

% of WW FS Volume YTD

0.0%42.9%

Australian Cross Border Announced M&A

▲

Any Asian (ex-Japan) Involvement Announced M&A by Target Industry ($bil)

Industry % Change from Last Quarter -* tie

▼-88.3%

14%

14%

13%

13% 12%

11%

6%

5%4%

3%3%

Real Estate High Technology Industrials Telecommunications

Financials Energy and Power Materials Healthcare

Media and Entertainment Consumer Products and Services Retail Consumer Staples


0%

20%

40%

60%

80%

100%

$0

$10

$20

$30

$40

1Q09

2Q09

3Q09

4Q09

1Q10

2Q10

3Q10

4Q10

1Q11

2Q11

3Q11

4Q11

1Q12

2Q12

3Q12

4Q12

1Q13

2Q13

3Q13

4Q13

1Q14

2Q14

3Q14

4Q14

1Q15

2Q15

Out

boun

d

Ran

k Va

lue

(US

$b)

Outbound (US$b)

Inbound (US$b)

% of Cross Border is Outbound

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015


Sumitomo Mitsui Finl Grp Inc

* tie

Mitsubishi UFJ Morgan StanleyLazardDeloitte 2,582.6 27.6 7

52.9

34.3

3305

323,207.8 1

9,344.6

3

5 34.4

9,827.1 Real Estate

4,490.5 5,202.3

2

3,213.8

41.5

227

2

1

3

8

101 13

4

3

3 93

1

Japanese Involvement Announced M&A - Top Advisors by Target Industry Jan 1 - June 30 2015Mkt.


12 44.3

Japan Deals Intelligence

11,981.4 12,557.7

29,083.3 1

Nomura

FinancialsMizuho Financial Group

Announced M&A activity with Japanese involvement during the first half of 2015 increased 9.2%, recording US$81.4billion in value, compared to the US$74.5 billion during the same period in 2014. This is the highest first half volumesince 2011’s US$84.7 billion. Eighteen Japanese involvement deals valued at US$1 billion or more, with anaccumulated value of US$48.2 billion, were announced during the first half of 2015, a 19.1% increase compared to thesame period last year.

The Financial sector remained the most active sector in the Japanese market, with deal volume totaling US$29.1 billion,accounting for 35.8% of the market. The US$7.5 billion acquisition of HCC Insurance by Tokio Marine & Nichido Firewas the primary driver for the Financial sector, as this was the largest Japanese insurance transaction and the secondlargest deal for the Asian insurance sector on record.

Japanese outbound volume reached a record high, totaling US$49 billion, a 43.6% increase compared to the US$34.1billion recorded during the first half of 2014, with eight out of the top 10 announced deals being outbound. Half ofJapanese outbound deals targeted Asia Pacific-based entities, totaling US$21.2 billion from 146 deals. US-basedtargeted entities followed closely accounting for 36.1% of the market, totaling US$17.7 billion from 95 deals.

Any Japanese involvement completed M&A volume during the first half of 2015 reached US$54.1 billion from 920deals. Total estimated advisory fees, according to Thomson Reuters/Freeman Consulting, reached US$703.2 million.

41.243.2

No. DealsRank

15,354.5 23

Share

Deutsche BankIndustrials

Nomura

Gresham Partners

47.0

45.745.7

6,021.2 3* 41.5

6,430.5 3*

Mitsubishi UFJ Morgan Stanley

High Technology

Lazard


Japan M&AJapanese Outbound Activity Breaks Record | Financial Sector Leads Activity | Eighteen Deals Over US$1 Billion

6,021.2

6,821.3 1

52.8

Rank Val US$m

Mizuho Financial Group 2

1

4,487.2

14,516.0

CITIC Ltd (11.8%)CITIC Ltd (10%)Royal Bk of Scotland-Portfolio (100%)

HCC Insurance Holdings Inc (100%) 7,540.9Tokio Marine & Nichido Fire

Chia Tai Bright Investment Financials / Other FinancialsFinancials / Other Financials

Jan 1 - June 30 2015

Nomura Real Estate Office Fund (100%)Mizuho Bank LtdNomura Real Estate Master Fund

5,924.0Hong Kong / Hong Kong

Rank Value (US$m)

Nomura Real Estate Master Fund

Polypore International Inc (100%) 2,213.3

Hong Kong / Hong Kong

1,517.9United Kingdom / France

Japan / Japan

2,969.3Japan / United States

Japan / Sweden

3,000.0

2,372.8

Financials / Insurance

Any Japanese Involvement by Market

Sumitomo Mitsui Banking Corp

Real Estate / REITsHigh Technology / Software

Japan / Japan

Asahi Kasei Corp Japan / United StatesFinancials / Credit Institutions2,200.5

Real Estate / REITsGE Corporate-European Business (100%)

Materials / Chemicals

Financials / Credit Institutions


Industrials / Transportation & Infrastructure

Pending

Completed

6/30/2015

2/10/20155/27/2015 Pending

PendingPending

5/27/2015

2/23/2015

Chia Tai Bright Investment

Japan / United StatesDate Effective

Top Ten Japanese Involvement Announced Deals

Toll Holdings Ltd (100%) Japan Post Co LtdPending

2/18/2015 Japan / Australia1/20/2015

Axis AB (84.05%) Canon Inc

Any Japanese Involvement Announced M&A

AcquirorTarget (% Sought/Acquired)Rank Date

4,433.32/26/2015

Completed

PendingPending

1/20/2015

6/10/2015

Pending

Nomura RE Residential Fund (100%)


6,021.2

$26.9$50.3

$34.0 $23.4$35.2 $38.8 $37.0

$25.6$42.1 $50.3

$51.8$31.1

$37.1

$21.6$19.2

$45.9 $40.1

$32.9

$32.4$31.1

$22.5$28.7 $47.6

$42.4$50.3

$50.2$42.4

$32.8$24.4

$48.5$51.9 $28.7

$38.8$30.2

$50.5$59.4

$35.2 $30.2

0

500

1,000

1,500

2,000

2,500

3,000

3,500

$0

$25

$50

$75

$100

$125

$150

$175

$200

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

# of

Dea

ls

Ran

k Va

lue

(US

$b)

Q4 Volume (US$b) Q3 Volume (US$b) Q2 Volume (US$b) Q1 Volume (US$b) # of Deals First half

100

200

300

400

500

600

700

.0

5.0

10.0

15.0

20.0

25.0

30.0

35.0

40.0

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

# of

Dea

ls

Ran

k Va

lue

(US

$b)

Domestic Inbound Outbound Outbound Inbound Domestic

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18

Imputed Fees (US$m)

Financial Advisor

Lazard


2015 Rank

Jan 1 - June 30

# of Deals# of 2015

Rank

Any Japanese Involvement Announced (AD19)


21.8 12

31.6+20

Deals2014 RankSh (%)

Change in Rank Value per Advisor (US$m)

Sh (%)

18.818,139.8

7312.381

▲▲28.9

261

Market2014 Rank

▼

25,717.423,492.0

US$m

15,257.0

Rank ValueSh (%)

▲▲

▲

22.3

7

5.7-17.8

14.0

22.2

25

-

13

CITIC

Mitsubishi UFJ Morgan Stanley

UBS 6 34

Credit Suisse

7*

12

7.4

-

104

9.4

11.0

17

15

7*10,357.2

5

11,561.911,423.7

12

6,021.216

3

Goldman Sachs & Co

14Deutsche BankEvercore PartnersSumitomo Mitsui Finl Grp Inc

Gresham Partners

8,964.0

2.2KPMG ▼Daiwa Securities Group Inc

11.5-7.4

Evercore Partners611.8 ▼ -74

Financial Advisor Share Ch.


Japan Rankings

Share Ch.Market MarketAdvisor

Sh (%)MarketMarketMarket

Fees# of Deals# of

Share Ch.


US$mRank Value

DealsMarket Change in

Sh (%)

1 11,427.8 21.113,996.2

70.3▲

2.35.1 ▼25.9+22 ▲

+9 ▲▲

0.8

12

5.2

76▼▲ 8.3

7▼-8▲

-90.8

-3

▲

▲

+1

-1

18.0

2.8

+4

▲

▲

3.6

1.1

3.5

▼

1.4

8.9

6.4

17.5

7.3

425.3

▼

▲

▲

35.2

9.9

▼ ▲

1.4

5.0

0.2

2.5

2.3

1.0

▲

▲

▲

1.2

4.5

+10

-6-

▲

▲

3.0

▼

1.2

0.4

0.8

0.7

+2

31.5

24.3

▼

2.4

0.4-14

3.8 0.1

▲

7

▲35

▲▲

0.83.8

18

2,068.8

2.843▼

11

3.3

0.723

▲2.7

2418 ▼ 20

▲

2.7▲

-5

+5 4 9

13.0

4.82.2 ▼

+22.2-1.5

0.22

▼0.9▲▲

1 7

1.2 +7

110.3

▼

19 29*

0 7

▲

17

16

▼2.2

63.1 9.0

▲▲10.0

0.5

40.4 5.8 0.52.6

1.5

4.4

▲

0.6

▲0.8

▼▼

▼

44.8

6.3

▲0.7

16.3 2.3

▲

2.6

0.2

▲▲

▲▼

1.31.9

▲

1.9

▲

▼

0.1

0 1

0.4

3.3

0.4

0.6

8.2 2.6 ▲▲

13 9

13.712.712.7

8.38.66

▲

+2Gresham Partners

0.4

▼10

4,449.14,479.0

15*0.4 Ernst & Young LLP+127+2

8,166.77,647.0

10.0

12.710,357.2

17

9,379.19,605.9

6

95*

6,407.5

1023.9 ▲ 3

14.2

7.9

▲12.7

11.5

Somerley

7-0.7

11.39,220.2 -11.111

▲

▲

2

45

9,479.19

Mitsubishi UFJ Morgan StanleyMizuho Financial Group

4.7103

8,520.6 15.8

Citi

9

-

21

2

JP Morgan

11

▼

8

Goldman Sachs & Co21

Mizuho Financial Group


8

▲7

4

5

14.7 0.7+9

Nomura9,600.2

2

6

-21.4

-517.8

+3

1

-8.7

57,424.5

▲17.5

13.923▲1.7

8+2 ▲

Lazard▼Deutsche Bank▼Citi

-90.5

▲▲

60.1 +22

66,021.2

84

0.4

0.11

-10.54 ▼

9

0.711.1 +111.1 0.1▲

617 13.7

▼4.9

7.6

2.414

▲

2 0.29.1

-9.7 -111.15,992.4

▲

45

1.0

4,674.1

4,423.01.5

0.2 ▼1

8.27.5

0.1-1

+17 12

00.1

▼-16.30.5

1314

+15.8

-

305

-4.52,913.5

▼

7.53,154.5

1

2.1 ▲

22.97.4 0.1 +1

21.334-1.8

+6

2,986.12,372.8

4.618 14 3,020.7 3.7

3.7SEB 20 -Deloitte 19 20 2.2

2.935

-0.3+1▲ SEB

▲ 3.82.9

▲▲ 0.1 +1

0.1 ▼1,977.919 ▼

BarclaysPricewaterhouseCoopers

210.3

▼KPMGJP Morgan -2.5

2.92

GCA Savvian Group Corp 23 13 1,588.9 2.0▲2.3

-4.022 16

▲1 3Plutus Consulting Co Ltd 25 37 1 5-

1 065 6▲ 48Plutus Consulting Co Ltd1 2 1 82 0+5 25 ▲

95* 2,280.7 2.8 ▲Development Bank of Japan Inc-1,830.0 0

2.8 +1

2,377.3

0.4

31 2.0 -5 4.4

Deloitte15 7

-

Any Japanese Involvement Completed (AF23)

▼

9-2.2

10 3,707.35.1

▼

-0.7 -11.3

112.9

249

+7▼

241,474.712 0.8

▲ -1 1,200.0-3

26▼

6.54,068.7

▲

Daiwa Securities Group Inc-

0.7Centerview Partners LLC0 3ICICI Bank Ltd

▼-2.71,544.8

1

0.2▼

22

1,585.5 ▼2.0

▲▲

22

▲

28 1.8PricewaterhouseCoopers

4.4

HSBC Holdings PLC

16

14

2,372.8

5.4

2.2

Rothschild4.62,479.0

▲ 1

1 243 731.6Rothschild

19

5.42.6

0 -

1.0

0.8-7 0.1

+23.72.9

2120

28.80.44.1▲

▲Bank of America Merrill Lynch

▼

6+6

01

Jan 1 - June 30

3,071.1

NomuraSumitomo Mitsui Finl Grp Inc

5.7

GCA Savvian Group Corp

7.7

Industry % Change from Same Period Last Year Industry % Change from Same Period Last YearIndustry % Change from Last Quarter Industry % Change from Last Quarter ▼▼-1.3%

▲+5 4.9

-16.2%

Industry Total

Japanese Target Completed M&A Fees

Vi it htt //d i th t t i hi d d t L T bl

-12.4%

1.7

-8.2%

0.716920

▲

▼

100.0

▼

-130

htt // th

703.20.1▲

100.0 1,56181,362.81.3

Industry Total +107Plutus Consulting Co Ltd 25 37 1.5

* tie

-38.2%9.2%

▼

1,065.6▲ 48

-24.0%▼

▼▲ 7.4%-10.6%

▲▼-19.1%

Plutus Consulting Co Ltd1.2 1.82.0+5 25100.0

▲54,089.4

Japanese Involvement Announced M&A Target Industry by Value

1,243.7 19

35.8%

17.9%12.1%

11.5%

4.5%4.3%

Financials Industrials Real Estate

High Technology Consumer Products and Services Materials

Retail Consumer Staples Healthcare

Media and Entertainment Energy and Power Government and Agencies

$269.9$191.2 $229.7

$100.5

$237.2 $215.7 $175.5 $220.2 $224.2$135.6

$274.9

$270.1 $185.2

$151.2

$245.0

$134.2 $208.4 $118.7 $80.4

$97.0

$200.7

$217.3

$172.9

$144.7

$148.1

$110.5

$226.4$194.1

$138.5

207.6260.9

177.2

242.3

191.3

156.6

239.3

217.1

149.9

0

500

1000

1500

2000

2500

3000

$0

$200

$400

$600

$800

$1,000

$1,200

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015

Num

ber o

f Dea

ls

Impu

teed

Fee

s (U

S$m

il)

4Q 3Q 2Q 1Q # of Deals YTD

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19

Industry Total

0.10.31.70.5

0.3

▲▲▼▼

385.51,938.8

10,653.93,033.2

1.41.41.41.2

+7+7-3-6

20*20*20*24*

Fairness Opinion Rankings†

▼

156

▼

15* 12* 9 1.5 +4

0.3

36,505.8 6.0

0.333,252.4 13.2

▲

14.41,938.8 0.8

36,220.6

707.8

3.2%


109,119.5 43.417,759.4 7.1

248.5 0.1129,764.4 21.323

1,405.2

US$m14,574.8

2.23,583.6

▲9,608.7

▲

0.6▼Sandler O'Neill Partners

0-20


12,397.1

101.711*

18.2

▲

+3

-

15*

Cormark Securities Inc

5,756.6

10 1.7

16,485.1

2.2

-

4.4

▼

13,517.9

9*

▲

+23

84*

-

888

▲

1.7 -10

12*9*30*

1.7

+123.2193.9

2.9 +1317 2.9 +11

4 18*3 1

-4

+1215 2.5

5*175* 21*

6* 138* 6* 158*7 3

41* 2,659.2

5*0.2

0.1

0.4 ▲707.8

1.6

20* 3,760.3

Duff & Phelps

Sandler O'Neill Partners

Bank of America Merrill LynchDeutsche Bank

1,938.8385.5

12.80.10.7

Morgan Stanley

Stifel/KBW

1.30.2

6

111,215.51,682.2

4,123.0 0.717,759.440,744.3

2.9

1,047.5

0.3

6.718*28*11

Blackstone Group LPPrairie Capital Advisors Inc11.2

-6

10

2.53.6GMP Capital Corp

7*

2.52.5

2.7

▲

+3

+2

▼

▲9

Shenwan Hongyuan Securities CoGoldman Sachs & Co

24*9

1.5- 1.5

▲▲

+91,662.1China Merchants Securities Co

11*

1.530*1.5

9

Citi

15*

21*

15*

3.1

197+9

11*

15*

Morgan Stanley

Deutsche Bank

15*

11*

9

4

Houlihan Lokey

18* ▲

7*

Deutsche Bank1010

2.0

▼GF Securities

+7

China Securities Co LtdGuotai Junan Securities

46*CITIC

7Stifel/KBWCormark Securities Inc

+4

37,975.8248.5

▼

▼▲

Duff & Phelps 116 ▲+10 ▼

4.1

7 -163.64.1

37.22 5 13 6.6

11

17,759.4-1 ▼

▼

Sh (%)

6.09.6 +4 ▲

3* 6 11 5.6 -2Morgan Stanley

# of Market Change in

1 4# of Deals

-2.7

MarketDeals

05.8

2015 Rank

Huatai Securities Co Ltd

Rank Value

110,840.219US$mSh (%)

2014 Rank

2.4

Rank Value

JP MorganSh (%)

Houlihan Lokey

# of Deals

21 12* 34

Fairness Opinion Provider2014 Rank

# ofDeals Sh (%)

Duff & Phelps -105* 7

8

5.63* 2-38

Industry Total 251,151.3

▼

-49


100.0

Industry % Change from Same Period Last Year▲▲

4

297,615.1

100.0-47

-23.2%

2.6▼2.6

24,916.2-▲

-3

0 -.0 0.0

1,156.7 0.5▲+4▲

-10*

537.1 0.244 +4

23,029.7

5.1

▼

2.69.9

4.53.9

▼

2.66

9.2


▼7.1

2.6

-

▼-38*

-44

7 0

8.3+5

+4

4

-161-3

-1

15*

8

Sh (%) # of Deals11.518

4

2015 Rank

2014 Rank

1 5

7

11

7

10

▼

6.4-10

▲

Goldman Sachs & Co 8*

2

8*8*

Simmons & Co International

3

8*8*

5

-4.1%

▼ 16.6%

Sinolink Securities Co Ltd

7


▼

8

-19.9%

Rank Value (US$m)


Rank Value (US$m)MarketRank ValueChange in

# of Deals per Advisor# of Deals per AdvisorBased on Number of Transactions

Change in # of Market# of Deals per Advisor

Market2015 Rank

Jan 1 – June 30 Jan 1 – June 30Any Americas Involvement Announced Fairness Opinion

Jan 1 – June 30Any US Involvement Announced Fairness Opinion

Rank Value (US$m)Based on Number of TransactionsBased on Number of Transactions

26

DealsMarket

13JP MorganFairness Opinion Provider

Houlihan Lokey

36*


Fairness Opinion Provider US$m Sh (%)

JP Morgan

6

2

6

Founder Securities Co LtdGuosen Securities Co Ltd -16.5%

-6.9%▲1.8%▲

15*

Bank of America Merrill LynchCredit SuisseBMO Capital MarketsGoldman Sachs & Co

910*10*10*13*

▼▼

0.1

Prairie Capital Advisors IncBlackstone Group LP

5554

2.52.0

3.78.89.50.4

-4+1+3-3-1

1.4

Sandler O'Neill Partners

33,252.410,871.326,296.728,381.0

1,156.7

▼▲▲

Haitong Securities Co LtdPricewaterhouseCoopers

-2 ▼ 676.6Industrial Securities Co Ltd 20* 84* 8

Simmons & Co International

▲ 1,718.2

13*13*13*0.9

0.2

---

444

2.02.02.0

+4+4+4

0.08.40.2▲

.024,916.2

537.1

Industry Total

Industry % Change from Same Period Last Year ▲ ▲Industry % Change from Last Quarter ▲ ▲

▼ 3,760.3 0.6GMP Capital Corp 24* 41* 7 1.2 -16

Any Japan Inv Announced Fairness Opinion

2*

Deloitte 5* 2* 1

3

JP MorganBank of America Merrill Lynch

5*5*

15*

11

7.77.7

-1-80

7.7 ▼▼-

2,372.8254.6825.7

0.1▲,707.81.2 +224* 2

†Fairness Opinion rankings include fairness opinions provided as a standalone mandate as well as fairness opinions provided as part of a broader advisory mandate.

991.0 0.5

0.7

6 1.6Minsheng Securities Co Ltd 15* 11* 6 1.6

6 +2 ▲

+5 ▲

414.8 0.26

Huaxi Securities Co Ltd

New Times Securities Co Ltd 15* 40* 6

35.93.8

12.5

6*6*

15*2

▼0

6,594.9LazardDuff & Phelps

16,300.3

3.2

▲

15*

0.2▲

ACE Consulting 5*Evercore Partners 5* - 7.7

+1+1

1,729.1 26.11,946.8 29.4

410.4

Rank Value (US$m)

▲6.2

282.9 4.3

3.2 +1

9.6

+1 ▲ 1,446.6

898.6 0.5+1

▲

0.1

6+1

Nomura

+92.710

▲8*

2.75,756.6▲

19*

4.6

+3

Any Asia Pacific Inv Announced Fairness Opinion

-1*

15

8*17

Market

7.0Plutus Consulting Co Ltd 1*

1*

2015 Rank

34 +239.1+12

# of

60.0%

0.80.5 13 6,614.9 100.0

▼

Industry Total

Industry % Change from Same Period Last Year -38.1%

8*

4*

7

8*

Mizuho Financial Group

+9

1,662.1

8*

5.1

▲

+4

211,282.9

▲

▲

1.60

1.61.6 ▲

▲

0.8

124.9%▲

+142

494.3 0.2

- 1,775.8 0.8

5.4

1*Daiwa Securities Group Inc

1.30.8


1

60.0%

7.71

-73.8%

-8

- 3 23.1 +3 ▲

13.1-

▼

23.1▲

US$m

3 23.1 +3+1 ▲

▲3 23.1 +2Deals

2014 Rank

# of Market# of DealsSh (%)

5*

Change in Market

▲

1,718.2▲ 1,047.5

Industry % Change from Last Quarter 44.4% ▲ 10.6%

Industry Total 100.0

▲

374


Sinolink Securities Co Ltd

12*15*

+5

15* 9 2.4

2.4- 2.4

11* 9- 9 2.4

91,682.2+3 ▲2,659.2

▲

▲+13

9,608.7

4.04.6

+12

3,583.6

Sh (%)Sh (%)

+11

6.4

7.8

▲ 13,517.917

6.914,574.8▲

+10 4.51.7

Industry % Change from Last Quarter -14.7% ▼ 162.2%Industry % Change from Same Period Last Year

Industry Total

▼

169,326.3

Huatai Securities Co Ltd

-21.3%

100.0-1763

▲

▲72.2% ▲

-15*

15* 17*Chinalion Securities Co Ltd 15* -

Sealand Securities Co Ltd 15* 40*

▲ 1.7+6

1,548.52,966.33,595.0

+6

3.9▼ 5.0

8▲

1.4

8 2.1.0 0.0

26* -1

▲ 87.6 0.1

116.7+1

15* +1▲ 2,490.1

- +26*

5* 3.2-6*

15* 3.22

210.9 0.1▲ 1,008.0 0.6

3.22

8,876.7

4 8*2*

48*

515*

3

2015 Rank

8*

Jan 1 – June 30Any EMEA Inv Announced Fairness Opinion

MarketUS$m

Rank Value

27.9 +39.5

2*

Market2014 Rank

Change in Deals

6Sh (%) # of Deals

▼5

Sh (%)Fairness Opinion Provider # of DealsRank Value

Jan 1 – June 30

Rank Value (US$m)

739.5 11.2

# of Deals per AdvisorBased on Number of Transactions

14.1%

Citi

CITIC

26

0.9

Sh (%)

53.9

7.06*

4*

5.2

7.9

-291,268.5

6.4

4*21,627.72

+4

3.2

▲

▲

34.9%26.4% 47.0%

Founder Securities Co Ltd

8*Shenwan Hongyuan Securities Co

Deals

2* ▲

Change in

4*

3

17*

▲19

* tie

- 6 1.6 +6▲

China International Capital Co6 1.6Deutsche Bank

6*-3 ▼ 11,484.5

6* 15* 3.2 1.5Industrial Securities Co Ltd 12*Redeye AB

Deloitte

26*

8*

Fairness Opinion ProviderJP MorganGoldman Sachs & Co

Rothschild

2


2015 Rank

1

Guosen Securities Co LtdChina Merchants Securities Co

GF SecuritiesInvestec

1

Guotai Junan Securities

China Securities Co Ltd


+73591

# of

Based on Number of Transactions

7

▲

12.8

+2 11,803.0

2014 Rank


12*


16,485.1

40*

15*

Haitong Securities Co Ltd

Rank Value (US$m)

2 3.2 +1 -6

2

Fairness Opinion ProviderRank Value

+7

2*

US$mMarket

10,653.92.1

Based on Number of Transactions

Jan 1 – June 30

▲ 676.6 0.38 2.1

4.8

CitiHoulihan Lokey

6*

Leonardo & Co

Evercore Partners


23.2

5

610,362.7 100.0

pStifel/KBW


-

-

-

-

-

Christina Mavraki

Financial and legal advisors receive full credit for each deal on which they provide financial or legal advisory services, unless they represent minority sellers or advise on only a portionof the transaction or Thomson Reuters has not been made aware of their participation in that transaction. For pending transactions, advisors to targets of multiple bids receive credit forthe transaction agreed to or, in the absence of an agreement, the value of the highest offer.

E-mail: [email protected]


Asia-PacificKelvin Bian

Kaori Motohashi

EMEA

Tel: +44 (0) 20 7542 7381


Japan

Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. Non-US dollar denominated transactions are converted to the US dollar equivalent at thetime of announcement of terms.

Tel: +852 3761 1852


Ranking Criteria Summary

If you would like to participate in the submissionprocess, receive quarterly press releases, or havequestions about league table criteria pleasecontact:

League tables include rank eligible mergers, acquisitions, repurchases, spin-offs, self-tenders, minority stake purchases and debt restructurings.

A tender/merger transaction is considered to be effective at the time of consummation of the merger or the date on which it is declared wholly unconditional.

AmericasRobert LevineTel: +1 646 223 5682

Announced league tables include all deals that were announced between January 1, 2014 and June 30, 2015 and of which Thomson Reuters was made aware. All current data andprevious year's data is as of 5:00pm EDT on June 30, 2015.

-

-

-

-

League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, andunconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction.

League table volumes for Mitsubishi UFJ Financial Group and Morgan Stanley, included herein reflect the changes after the commencement of their jointly established securities firmsin Japan: (1) Mitsubishi UFJ Morgan Stanley Securities and (2) Morgan Stanley MUFG Securities. Accreditation for transactions involving the newly established joint ventures arereflected in totals for Morgan Stanley. For Japanese related rankings, Morgan Stanley is represented as "Mitsubishi UFJ Morgan Stanley”.

Any Involvement league tables include deals where the target, acquiror, or either ultimate parent are domiciled (nation of headquarters) in the specified region or nation. Anyinvolvement league tables also include the nation of the seller and seller ultimate parent on privately negotiated stake purchases

Kaori Motohashi

Imputed fees are calculated using Freeman & Co. proprietary algorithm where spreads or fees are not disclosed. Deal fees are on a gross basis before all expenses. Each underwriteror advisor is allocated its share of deal fees using Freeman & Co. allocation methodology, based on the number of underwriters or advisors on the deal and their role. No fees areallocated to syndicated members.

E-mail: [email protected]: +813 6441 1338

While Thomson Reuters has used reasonable endeavors to ensure that the information provided in this document is accurate and up to date as at the time of issue, neither Thomson Reuters nor its third party content providers shall be liable forany errors, inaccuracies or delays in the information, nor for any actions taken in reliance thereon, nor does it endorse any views or opinions of any third party content provider. Thomson Reuters disclaims all warranties, express or implied, as tothe accuracy or completeness of any of the content provided, or as to the fitness of the content for any purpose to the extent permitted by law. The content herein is not appropriate for the purposes of making a decision to carry out a transactionor trade and does not provide any form of advice (investment, tax, legal) amounting to investment advice, nor make any recommendations or solicitations regarding particular financial instruments, investments or products, including the buying orselling of securities. Thomson Reuters has not undertaken any liability or obligation relating to the purchase or sale of securities for or by any person in connection with this document.

© 2015 Thomson Reuters. All rights reserved.

Thomson Reuters and the Thomson Reuters logo are registered trademarks and trademarks of Thomson Reuters and its affiliated companies. Any third party name or mark herein belongs to the relevant third party.

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© 2015 Thomson Reuters..Thomson Reuters and the Kinesis logo are trademarks of Thomson Reuters.

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