ASIA PACIFIC LEGAL ADVISORY MERGERS & …1].pdf · [email protected] ... Asia Pacific...
Transcript of ASIA PACIFIC LEGAL ADVISORY MERGERS & …1].pdf · [email protected] ... Asia Pacific...
ASIA PACIFIC LEGAL ADVISORYMERGERS & ACQUISITIONS RANKINGS Q3 2010
M&AMergers & Acquisitions
INTELLIGENCE
M&AComprehensive Analytics on the new MA <GO>
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Bloomberg
MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO>
1
. 1 Introduction
Table of Contents
. 2 Asia Pacific Market Commentary
. 3 Globa M&A Activity
. 4 Asia Pacific Ex-Japan Announced Deals
. 7 Asia Pacific Private Equity Announced Deals
. 8 Australia & New Zealand Announced Deals
. 11 Japan Announced Deals
. 14 Korea Announced Deals
. 17 China Announced Deals
. 20 Hong Kong Announced Deals
. 23 Taiwan Announced Deals
. 26 India Asia Announced Deals
. 29 South East Asia Announced Deals
. 32 Disclaimer
Bloomberg 2010 1st 3 Qtrs
Email Fax Phone Contact
+81-3-3201-3952 [email protected] +81-3-3201-7228 Shima Furukawa Asia Pacific
[email protected] +81-3-3201-7228 +81-3-3201-3952 Shima Furukawa Japan
[email protected] +86-21-6104-7085 +86-21-6104-7035 Miao Pan Greater China
Korea [email protected] +82-2-3704-1827 +82-2-3702-1627 Hyejin Cho
The Bloomberg M&A Advisory League Tables are the definitive publication of M&A advisory rankings. The tables represent the top financial and legal advisors across a broad array of deal types, regions, and industry sectors.The rankings data is comprised of mergers, acquisitions, divestitures, spin-offs, debt-for-equity-swaps, joint ventures, private placements of common equity and convertible securities, and the cash injection component of
recapitalizations according to Bloomberg standards.
Bloomberg M&A delivers real-time coverage of the M&A market from nine countries around the world. We provide a global perspective and local insight into unique deal structures in various markets through a network of over 800 financial and legal advisory firms, ensuring an accurate reflection of key market trends. Our quarterly league table rankings are a leading benchmark for legal and financial advisory performance, and DealSpace & DealBrief newsletters
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Visit {NI LEAG CRL <GO>} to download copies of the final release and a full range of market specific league table results. Type MA <GO> 96 <GO> 82
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10/01/2010
Asia Pacific M&A Legal Advisory League Table
BloombergAsia Pacific Commentary Q3 Global Heat Map by Volume
Asia Pacific Deal Activity Highlights:s a ac c ea ct ty g g ts•Asia Pacific region ended Q3 with a total of $222.76 billion in deal volume and 2266deals.•The most active industry was the financial sector with $34.79 billion in volume basedon targets located in the Asia Pacific region.•When compared to last quarter and also Q3 of 2009, this quarter’s deal volumemarked similar increases of approximately 70% while quarterly deal count remainedunchangedg•Statistically, it was the first time since Q4 of 2007 that Asia Pacific’s quarterly volumeexceeded $200 billion.•Regionally, Australia accounted for the highest deal volume in Asia Pacific with a totalof $75.4 billion, clearly surpassing the $42.73 billion of next runner up, Japan. In termsof frequency, China outran the others in Asia Pacific with a total of 731 deals followedby Japan with 449 deals.
Top Deal Rankings:•The largest deal this quarter was BHP Billiton’s $42.97 billion all‐cash offer for PotashCorp. of Saskatchewan.•This deal was the 2nd largest acquisition ever attempted by an Australian company andwould also be globally the 4th largest hostile takeover ever if completed.•The second largest deal this quarter was Sumitomo Trust & Banking’s $9.2 billionmerger with Chuo Mitsui Trust Holdings. The combined entity, to be renamed North Asia Western South/Central Eastern Middle East/
Top Advisor Rankings•The top financial advisor for Asia Pacific YTD was Bank of America Merrill Lynch (BOAML). BOAML advised on a total of $99.44 billion worth of deals this year. On the legal advisory side, Skadden Arps Slate Meagher & Flom was the topadvisor by volume with $74.89 billion in deal volume and Mori Hamada & Matsumoto was the top advisor by deal count with a total of 92 deals.•For both BOAML and Skadden Arps, advisory on BHP Billiton’s offer for Potash Corp, resulted in the top industry by target to be agricultural chemicals and the by acquirer, to be diversified minerals. Excluding the BHP’sBilliton/Potash
g g y,Sumitomo Mitsui Trust Holdings Inc, is the biggest among Japanese banks since thecreation of Mitsubishi UFJ Financial Group in 2005.
America (38%) Pacific (29%) Europe (24%)/
America (4%) Europe (3%)/
Africa (2%)
p y p p y y g g y q gCorp deal, for BOAML, the top industrial sector for acquirer and target were telecom services and oil companies while for Skadden Arps, the top industrial sector for acquirer and target was both gold mining.
. Asia Pacific Q3 2010 Top 10 Deals
Announce Date Target Name Acquirer Name Seller Name Total Value (mil.)2010‐08‐17 Potash Corp of Saskatchewan Inc BHP Billiton Ltd $ 42,967.84
Q3 SummaryDeal Count 2266Deal Volume $223.22BilAverage Deal Size $132.95MilAverage Premium 17.22%
p ,2010‐08‐24 Sumitomo Trust & Banking Co Ltd Chuo Mitsui Trust Holdings Inc $ 9,200.26 2010‐07‐30 UK Electricity Business Multiple acquirers EDF SA $ 9,063.86 2010‐08‐16 Cairn India Ltd Vedanta Resources PLC Cairn Energy PLC $ 8,380.30 2010‐08‐17 Pactiv Corp Rank Group Investments Ltd $ 5,945.19 2010‐07‐29 Sanyo Electric Co Ltd Panasonic Corp $ 4,893.71 2010‐09‐30 Multiple Targets Prudential Financial Inc American International Group Inc $ 4,800.00
MA <GO> LEAG <GO> MA <GO> LMX <GO> MA <GO> LEAG <GO>
p g p $ ,2010‐09‐10 Japan Nuclear Fuel Ltd Multiple acquirers $ 4,773.84 2010‐07‐29 Panasonic Electric Works Co Ltd Panasonic Corp $ 4,709.59 2010‐07‐15 Intoll Group Canada Pension Plan Investment Board $ 4,626.45
Bloomberg
52.53%Americas
17.48%
Asia-Pacific
ex-Japan
25.33%EMEA
4.66%Japan
Regional Breakdown by Target Region/Country
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- 20092010
Global M&A Activity
1/1/10 9/30/10
CHANGEFIRM
VOLUME DEAL
COUNT
Regional Breakdown by Target Region/Country
USD (Mln)
VOLUME
USD (Mln)
DEAL
COUNT
VOLUME
Americas 7,047 37.51%$779,173 $566,614 5,546
612 110.95%$145,403 $68,928 477 Latin America
6,520 37.73%$686,180 $498,204 5,123 North America
956 74.43%$105,712 $60,603 900 Canada
5,434 21.26%$524,950 $432,907 4,118 United States
EMEA 4,276 -4.97%$375,726 $395,378 4,028
441 61.19%$48,567 $30,131 435 Eastern Europe
3,389 -18.84%$271,134 $334,092 3,191 Western Europe
1,275 -14.95%$95,234 $111,968 984 UK
375 -38.37%$30,720 $49,850 462 Germany
406 -32.56%$24,876 $36,887 336 France
Asia-Pacific ex-Japan 4,877 25.36%$259,321 $206,869 4,569
664 15.10%$47,982 $41,688 701 Australia
73 272.14%$2,349 $631 84 New Zealand
1,925 25.09%$84,857 $67,839 1,316 China
332 3.74%$21,654 $20,873 446 Hong Kong
764 36.41%$40,194 $29,465 878 South East Asia
419 238.43%$33,498 $9,898 430 India
Japan 1,145 -3.30%$69,195 $71,557 1,424
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$1,490,323 17,556 $1,240,798 15,691 20.11%Global
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Top 10 Asia Pacific Ex-Japan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
POTASH CORP OF SASKATCHEWAN INC 1 $42,968 BHP BILLITON LTD08/17/2010
UK ELECTRICITY BUSINESS 2 $9,064 MULTIPLE ACQUIRERS EDF SA07/30/2010
CAIRN INDIA LTD 3 $8,380 VEDANTA RESOURCES PLC CAIRN ENERGY PLC08/16/2010
PACTIV CORP 4 $5,945 RANK GROUP INVESTMENTS LTD08/17/2010
INTOLL GROUP 5 $4,626 CANADA PENSION PLAN INVESTMENT07/15/2010
PING AN BANK CO LTD 6 $4,257 SHENZHEN DEVELOPMENT BANK CO PING AN INSURANCE GROUP CO 09/02/2010
HYUNDAI OILBANK CO LTD 7 $3,587 HYUNDAI HEAVY INDUSTRIES CO LTD INTERNATIONAL PETROLEUM INVESTMENT07/21/2010
DAEWOO INTERNATIONAL CORP 8 $3,525 POSCO08/30/2010
ANDEAN RESOURCES LTD 9 $3,162 GOLDCORP INC09/03/2010
CAIRN INDIA LTD 10 $2,927 VEDANTA RESOURCES PLC08/18/2010
Top 10 Asia Pacific Ex-Japan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
POTASH CORP OF SASKATCHEWAN INC 1 $42,968 BHP BILLITON LTD08/17/2010
POLYUS GOLD OJSC 2 $11,040 KAZAKHGOLD GROUP LTD06/30/2010
ZAIN AFRICA BV 3 $10,700 BHARTI AIRTEL LTD MOBILE TELECOMMUNICATIONS CO KSC03/30/2010
UK ELECTRICITY BUSINESS 4 $9,064 MULTIPLE ACQUIRERS EDF SA07/30/2010
LIHIR GOLD LTD 5 $8,963 NEWCREST MINING LTD04/01/2010
CAIRN INDIA LTD 6 $8,380 VEDANTA RESOURCES PLC CAIRN ENERGY PLC08/16/2010
PACTIV CORP 7 $5,945 RANK GROUP INVESTMENTS LTD08/17/2010
SHANGHAI PUDONG DEVELOPMENT BANK 8 $5,831 CHINA MOBILE LTD03/10/2010
CARABOBO-1 PROJECT 9 $4,848 MULTIPLE ACQUIRERS02/11/2010
SYNCRUDE CANADA LTD 10 $4,650 CHINA PETROCHEMICAL CORP CONOCOPHILLIPS04/12/2010
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QUARTERLY VOLUME
USD (Mln) #Deals
5
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Asia Pacific Ex-Japan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
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Any Involvement, Ranked by Volume
MKT
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USD (Mln)
M&A Legal Advisory League Tables
Skadden Arps Slate Meagher & Flom LLP 23 1 12.5 66,470 16.1 3.6 16
Stikeman Elliott LLP 8 2 8.7 59,465 14.4 5.7 8
Blake Cassels & Graydon LLP 11 3 12.6 52,697 12.7 0.1 109
Slaughter & May 12 4 8.7 49,781 12.0 3.3 18
Jones Day 35 5 10.6 46,515 11.2 0.6 67
Cleary Gottlieb Steen & Hamilton LLP 6 6 9.6 43,637 10.5 0.9 46
Allen & Overy LLP 24 7 6.1 28,796 7.0 0.9 49
AZB & Partners 85 8 5.9 26,488 6.4 0.5 73
Herbert Smith/Gleiss Lutz/Stibbe 13 9 4.8 22,656 5.5 0.7 60
Allens Arthur Robinson 36 10 (4.9) 22,138 5.4 10.3 2
Mallesons Stephen Jaques 38 11 (1.7) 21,346 5.2 6.9 4
Debevoise & Plimpton LLP 4 12 4.1 17,279 4.2 0.1 116
Blake Dawson 36 13 (2.8) 15,402 3.7 6.5 5
Linklaters LLP 14 14 (2.7) 15,363 3.7 6.4 6
Baker & McKenzie LLP 43 15 (2.4) 14,997 3.6 6.0 7
Freehills 44 16 (5.8) 14,096 3.4 9.2 3
Kim & Chang 66 17 (0.9) 13,164 3.2 4.1 12
Freshfields Bruckhaus Deringer 33 18 (10.3) 12,684 3.1 13.4 1
WongPartnership LLP 60 19 0.1 11,884 2.9 2.8 19
Allen & Gledhill 49 20 (2.0) 11,079 2.7 4.7 9
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$414,031 5,676 $244,772
*Total Volume represents all announced transactions in US$ millions.
TOTAL
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USD (Mln) #Deals
6
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Asia Pacific Ex-Japan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
AZB & Partners 85 1 5.9 26,488 6.4 0.5 15
Kim & Chang 66 2 (0.9) 13,164 3.2 4.1 1
WongPartnership LLP 60 3 0.1 11,884 2.9 2.8 12
Allen & Gledhill 49 4 (2.0) 11,079 2.7 4.7 8
Freehills 44 5 (5.8) 14,096 3.4 9.2 2
Minter Ellison 44 5 0.9 9,896 2.4 1.5 9
Baker & McKenzie LLP 43 7 (2.4) 14,997 3.6 6.0 3
Mallesons Stephen Jaques 38 8 (1.7) 21,346 5.2 6.9 4
Clayton Utz 37 9 0.2 6,957 1.7 1.5 6
Allens Arthur Robinson 36 10 (4.9) 22,138 5.4 10.3 5
Blake Dawson 36 10 (2.8) 15,402 3.7 6.5 7
Jones Day 35 12 10.6 46,515 11.2 0.6 17
Freshfields Bruckhaus Deringer 33 13 (10.3) 12,684 3.1 13.4 10
Lee & Ko 31 14 (1.4) 2,633 0.6 2.0 11
Shin & Kim 28 15 0.9 7,765 1.9 1.0 18
Bae Kim & Lee 25 16 (1.0) 4,765 1.2 2.2 12
Allen & Overy LLP 24 17 6.1 28,796 7.0 0.9 23
DLA Piper LLP 24 17 (0.2) 3,033 0.7 0.9 25
Stamford Law Corp 24 17 (0.9) 766 0.2 1.1 21
Skadden Arps Slate Meagher & Flom LLP 23 20 12.5 66,470 16.1 3.6 15
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$414,031 5,676 $244,772
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
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USD (Mln) #Deals
7
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Asia Pacific Private Equity Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Freehills 3 1 18.6 2,877 18.6 0.0 51
WongPartnership LLP 3 2 12.1 2,719 17.6 5.5 16
Sullivan & Cromwell LLP 3 3 (4.0) 2,639 17.0 21.0 4
Mallesons Stephen Jaques 3 4 15.2 2,376 15.3 0.1 49
Minter Ellison 6 5 15.2 2,351 15.2 0.0 51
Gilbert + Tobin 2 6 15.0 2,323 15.0 0.0 51
DLA Piper LLP 2 7 12.0 1,926 12.4 0.4 37
Blake Cassels & Graydon LLP 2 8 12.3 1,911 12.3 - -
Osler Hoskin & Harcourt LLP 2 8 12.3 1,911 12.3 - -
Bennett Jones LLP 1 8 12.3 1,911 12.3 - -
Gowling Lafleur Henderson LLP 1 8 12.3 1,911 12.3 - -
Stikeman Elliott LLP 1 8 12.3 1,911 12.3 - -
Torys LLP 1 8 12.3 1,911 12.3 - -
Simpson Thacher & Bartlett LLP 9 14 (13.7) 1,596 10.3 24.0 1
Allen & Gledhill 2 15 1.0 1,199 7.7 6.7 15
Mori Hamada & Matsumoto 7 16 5.9 1,113 7.2 1.3 28
AZB & Partners 17 17 6.4 1,042 6.7 0.3 40
Baker & McKenzie LLP 7 18 6.1 945 6.1 0.0 50
Davis Polk & Wardwell 4 19 5.8 900 5.8 - -
Drew & Napier LLC 2 20 5.1 792 5.1 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$15,489 326 $8,554
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
8
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 Australia & New Zealand Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
POTASH CORP OF SASKATCHEWAN INC 1 $42,968 BHP BILLITON LTD08/17/2010
PACTIV CORP 2 $5,945 RANK GROUP INVESTMENTS LTD08/17/2010
INTOLL GROUP 3 $4,626 CANADA PENSION PLAN INVESTMENT07/15/2010
ANDEAN RESOURCES LTD 4 $3,162 GOLDCORP INC09/03/2010
ING SUMMIT INDUSTRIAL FUND LP 5 $1,911 MULTIPLE ACQUIRERS MULTIPLE SELLERS08/27/2010
CENTENNIAL COAL CO LTD 6 $1,852 BANPU PCL07/05/2010
AWB LTD 7 $1,761 AGRIUM INC08/15/2010
PRIME INFRASTRUCTURE GROUP 8 $1,602 BROOKFIELD INFRASTRUCTURE PARTNERS08/23/2010
SUCROGEN LTD 9 $1,467 WILMAR INTERNATIONAL LTD CSR LTD07/05/2010
16 AUSTRALIAN OFFICE PROPERTIES 10 $1,446 BROOKFIELD PROPERTIES CORP BROOKFIELD ASSET MANAGEMENT INC07/30/2010
Top 10 Australia & New Zealand Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
POTASH CORP OF SASKATCHEWAN INC 1 $42,968 BHP BILLITON LTD08/17/2010
LIHIR GOLD LTD 2 $8,963 NEWCREST MINING LTD04/01/2010
PACTIV CORP 3 $5,945 RANK GROUP INVESTMENTS LTD08/17/2010
INTOLL GROUP 4 $4,626 CANADA PENSION PLAN INVESTMENT07/15/2010
ARROW ENERGY LTD 5 $3,323 MULTIPLE ACQUIRERS03/08/2010
ANDEAN RESOURCES LTD 6 $3,162 GOLDCORP INC09/03/2010
HEALTHSCOPE LTD 7 $2,275 MULTIPLE ACQUIRERS05/14/2010
AIRCRAFT OPERATING LEASE PORTFOLIO 8 $1,987 MACQUARIE GROUP LTD AMERICAN INTERNATIONAL GROUP INC04/14/2010
ING SUMMIT INDUSTRIAL FUND LP 9 $1,911 MULTIPLE ACQUIRERS MULTIPLE SELLERS08/27/2010
CENTENNIAL COAL CO LTD 10 $1,852 BANPU PCL07/05/2010
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USD (Mln) #Deals
9
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Australia & New Zealand Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Stikeman Elliott LLP 7 1 45.7 59,432 48.4 2.7 28
Skadden Arps Slate Meagher & Flom LLP 4 2 38.5 49,178 40.1 1.6 37
Blake Cassels & Graydon LLP 4 3 36.3 44,879 36.6 0.3 50
Slaughter & May 4 4 24.0 43,621 35.5 11.5 10
Jones Day 9 5 35.3 43,573 35.5 0.2 53
Cleary Gottlieb Steen & Hamilton LLP 1 6 35.0 42,968 35.0 - -
Allens Arthur Robinson 36 7 (26.3) 22,138 18.0 44.3 1
Mallesons Stephen Jaques 32 8 (13.5) 20,069 16.4 29.9 3
Blake Dawson 35 9 (15.2) 15,398 12.6 27.8 4
Freehills 43 10 (29.1) 14,075 11.5 40.6 2
Minter Ellison 44 11 1.7 9,896 8.1 6.4 13
Sidley Austin LLP 2 12 7.3 9,013 7.3 0.0 87
Gilbert + Tobin 10 13 2.2 8,218 6.7 4.5 16
Davis Polk & Wardwell 4 14 6.6 8,148 6.6 - -
Freshfields Bruckhaus Deringer 9 15 (21.8) 7,355 6.0 27.8 5
Clayton Utz 36 16 (0.9) 6,847 5.6 6.5 12
Debevoise & Plimpton LLP 2 17 4.8 5,945 4.8 - -
Torys LLP 4 18 (9.9) 5,214 4.3 14.2 8
Corrs Chambers Westgarth 14 19 (4.6) 4,620 3.8 8.4 11
Baker & McKenzie LLP 23 20 (13.2) 3,856 3.1 16.3 7
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$122,738 1,022 $55,248
*Total Volume represents all announced transactions in US$ millions.
TOTAL
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QUARTERLY VOLUME
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10
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Australia & New Zealand Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Minter Ellison 44 1 1.7 9,896 8.1 6.4 6
Freehills 43 2 (29.1) 14,075 11.5 40.6 1
Allens Arthur Robinson 36 3 (26.3) 22,138 18.0 44.3 4
Clayton Utz 36 3 (0.9) 6,847 5.6 6.5 2
Blake Dawson 35 5 (15.2) 15,398 12.6 27.8 5
Mallesons Stephen Jaques 32 6 (13.5) 20,069 16.4 29.9 2
Baker & McKenzie LLP 23 7 (13.2) 3,856 3.1 16.3 7
DLA Piper LLP 19 8 1.8 2,669 2.2 0.4 15
Norton Rose LLP 18 9 2.4 2,904 2.4 0.0 49
Corrs Chambers Westgarth 14 10 (4.6) 4,620 3.8 8.4 9
Cochrane Lishman Carson Luscombe 12 11 0.4 1,023 0.8 0.4 11
Gilbert + Tobin 10 12 2.2 8,218 6.7 4.5 11
Jones Day 9 13 35.3 43,573 35.5 0.2 18
Freshfields Bruckhaus Deringer 9 13 (21.8) 7,355 6.0 27.8 15
Stikeman Elliott LLP 7 15 45.7 59,432 48.4 2.7 23
Simpson Thacher & Bartlett LLP 6 16 0.9 1,055 0.9 0.0 49
Bell Gully 6 16 0.3 500 0.4 0.1 10
Stamford Law Corp 6 16 (0.1) 2 0.0 0.1 23
Sullivan & Cromwell LLP 5 19 (0.8) 3,250 2.7 3.5 30
Osler Hoskin & Harcourt LLP 5 19 1.5 2,036 1.7 0.2 30
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$122,738 1,022 $55,248
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
11
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 Japan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
SUMITOMO TRUST & BANKING CO 1 $9,200 CHUO MITSUI TRUST HOLDINGS INC08/24/2010
SANYO ELECTRIC CO LTD 2 $4,894 PANASONIC CORP07/29/2010
MULTIPLE TARGETS 3 $4,800 PRUDENTIAL FINANCIAL INC AMERICAN INTERNATIONAL GROUP INC09/30/2010
JAPAN NUCLEAR FUEL LTD 4 $4,774 MULTIPLE ACQUIRERS09/10/2010
PANASONIC ELECTRIC WORKS CO LTD 5 $4,710 PANASONIC CORP07/29/2010
DIMENSION DATA HOLDINGS PLC 6 $2,648 NIPPON TELEGRAPH & TELEPHONE CORP07/15/2010
JSW STEEL LTD 7 $1,028 JFE HOLDINGS INC07/27/2010
CB&ASIAN EQUITY DERIVATIVES UNITS 8 $1,000 DAIWA SECURITIES GROUP INC KBC GROEP NV07/05/2010
Q'SAI CO LTD 9 $751 COCA-COLA WEST CO LTD MULTIPLE SELLERS08/30/2010
NISSIN HEALTHCARE FOOD SERVICE CO 10 $584 WATAKYU SEIMOA CORP08/12/2010
Top 10 Japan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
SUMITOMO TRUST & BANKING CO 1 $9,200 CHUO MITSUI TRUST HOLDINGS INC08/24/2010
SANYO ELECTRIC CO LTD 2 $4,894 PANASONIC CORP07/29/2010
MULTIPLE TARGETS 3 $4,800 PRUDENTIAL FINANCIAL INC AMERICAN INTERNATIONAL GROUP INC09/30/2010
JAPAN NUCLEAR FUEL LTD 4 $4,774 MULTIPLE ACQUIRERS09/10/2010
PANASONIC ELECTRIC WORKS CO LTD 5 $4,710 PANASONIC CORP07/29/2010
JUPITER TELECOMMUNICATIONS CO LTD 6 $4,008 KDDI CORP LIBERTY GLOBAL INC01/25/2010
JAPAN AIRLINES CORP 7 $3,295 ETIC01/19/2010
OSI PHARMACEUTICALS INC 8 $3,259 ASTELLAS PHARMA INC03/01/2010
EMOBILE LTD 9 $3,089 EACCESS LTD03/31/2010
DIMENSION DATA HOLDINGS PLC 10 $2,648 NIPPON TELEGRAPH & TELEPHONE CORP07/15/2010
1. AIG Edison Life Insurance Co, AIG Star Life Insurance Co Ltd 2. Chubu Electric Power Co Inc, Chugoku Electric Power Co Inc, Hitachi Ltd, Hokkaido Electric Power Co Inc, Hokuriku Electric Power Co, Japan Atomic Power Co, Kansai Electric Power Co Inc, Kyushu Electric Power Co Inc, Mitsubishi Heavy Industries Ltd, Shikoku Electric Power Co Inc, Tohoku Electric Power Co Inc, Tokyo Electric Power Co Inc, Toshiba Corp 3. Daiwa Securities Group Inc, Japan Industrial Partners Inc, Polaris Capital Group Co Ltd
1. AIG Edison Life Insurance Co, AIG Star Life Insurance Co Ltd 2. Chubu Electric Power Co Inc, Chugoku Electric Power Co Inc, Hitachi Ltd, Hokkaido Electric Power Co Inc, Hokuriku Electric Power Co, Japan Atomic Power Co, Kansai Electric Power Co Inc,,Kyushu Electric Power Co Inc, Mitsubishi Heavy Industries Ltd, Shikoku Electric Power Co Inc, Tohoku Electric Power Co Inc, Tokyo Electric Power Co Inc, Toshiba Corp 3. Enterpirse Turnaround Initiative Corp of Japan
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
0
100
200
300
400
500
600
700
800
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
12
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Japan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Nagashima Ohno & Tsunematsu 83 1 20.8 36,082 38.2 17.4 5
Mori Hamada & Matsumoto 92 2 (11.0) 25,473 26.9 37.9 1
Shearman & Sterling LLP 13 3 15.7 23,601 25.0 9.3 9
Sullivan & Cromwell LLP 14 4 9.4 20,435 21.6 12.2 6
Nishimura & Asahi 67 5 (8.8) 13,705 14.5 23.3 3
Allen & Overy LLP 11 6 9.1 9,655 10.2 1.1 32
Skadden Arps Slate Meagher & Flom LLP 14 7 (18.3) 9,363 9.9 28.2 2
Paul Hastings Janofsky & Walker LLP 5 8 8.4 9,217 9.7 1.3 27
Anderson Mori & Tomotsune 29 9 5.1 8,341 8.8 3.7 19
Simpson Thacher & Bartlett LLP 5 10 (11.6) 8,279 8.8 20.4 4
Latham & Watkins LLP 9 11 1.7 5,749 6.1 4.4 16
Gibson Dunn & Crutcher LLP 3 12 5.5 5,188 5.5 0.0 86
Kikkawa Law Offices 1 13 5.0 4,710 5.0 - -
Morrison & Foerster LLP 17 14 (2.8) 4,601 4.9 7.7 11
Freshfields Bruckhaus Deringer 10 15 2.1 4,052 4.3 2.2 24
Dewey & LeBoeuf LLP 2 16 0.9 3,371 3.6 2.7 20
Linklaters LLP 3 17 2.3 2,781 2.9 0.6 41
Davis Polk & Wardwell 8 18 (6.3) 2,373 2.5 8.8 10
Ropes & Gray LLP 1 19 1.9 1,832 1.9 - -
Baker & McKenzie LLP 11 20 0.1 1,810 1.9 1.8 26
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$94,590 1,572 $90,381
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
0
100
200
300
400
500
600
700
800
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
13
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Japan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Mori Hamada & Matsumoto 92 1 (11.0) 25,473 26.9 37.9 1
Nagashima Ohno & Tsunematsu 83 2 20.8 36,082 38.2 17.4 3
Nishimura & Asahi 67 3 (8.8) 13,705 14.5 23.3 2
Anderson Mori & Tomotsune 29 4 5.1 8,341 8.8 3.7 4
Morrison & Foerster LLP 17 5 (2.8) 4,601 4.9 7.7 5
Sullivan & Cromwell LLP 14 6 9.4 20,435 21.6 12.2 21
Skadden Arps Slate Meagher & Flom LLP 14 6 (18.3) 9,363 9.9 28.2 11
Shearman & Sterling LLP 13 8 15.7 23,601 25.0 9.3 6
Allen & Overy LLP 11 9 9.1 9,655 10.2 1.1 8
Baker & McKenzie LLP 11 9 0.1 1,810 1.9 1.8 8
Freshfields Bruckhaus Deringer 10 11 2.1 4,052 4.3 2.2 14
Jones Day 10 11 (0.3) 609 0.6 0.9 8
Latham & Watkins LLP 9 13 1.7 5,749 6.1 4.4 16
Davis Polk & Wardwell 8 14 (6.3) 2,373 2.5 8.8 6
AZB & Partners 8 14 1.9 1,808 1.9 0.0 62
Kim & Chang 8 14 (0.1) 153 0.2 0.3 12
Allen & Gledhill 7 17 (5.0) 1,399 1.5 6.5 21
Blake Dawson 6 18 (6.3) 330 0.4 6.7 16
Dorsey & Whitney LLP 6 18 0.3 250 0.3 0.0 38
Paul Hastings Janofsky & Walker LLP 5 20 8.4 9,217 9.7 1.3 25
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$94,590 1,572 $90,381
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
14
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 South Korea Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
HYUNDAI OILBANK CO LTD 1 $3,587 HYUNDAI HEAVY INDUSTRIES CO LTD INTERNATIONAL PETROLEUM INVESTMENT07/21/2010
DAEWOO INTERNATIONAL CORP 2 $3,525 POSCO08/30/2010
DANA PETROLEUM PLC 3 $2,787 KOREA NATIONAL OIL CORP07/23/2010
TITAN CHEMICALS CORP 4 $1,105 HONAM PETROCHEMICAL CORP MULTIPLE SELLERS07/16/2010
BAYAN RESOURCES TBK PT 5 $515 KOREA ELECTRIC POWER CORP07/21/2010
COAL ASSETS 6 $486 MULTIPLE ACQUIRERS ANGLO AMERICAN PLC07/05/2010
LISBON STAR CO LTD 7 $400 KOREA ELECTRIC POWER CORP BG GROUP PLC09/29/2010
SOLARFUN POWER HOLDINGS CO LTD 8 $370 HANWHA CHEM CORP08/03/2010
TITAN CHEMICALS CORP 9 $355 HONAM PETROCHEMICAL CORP07/16/2010
O'PARINOR SHOPPING CENTER 10 $278 NATIONAL PENSION SERVICE HAMMERSON PLC08/19/2010
Top 10 South Korea Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
HYUNDAI OILBANK CO LTD 1 $3,587 HYUNDAI HEAVY INDUSTRIES CO LTD INTERNATIONAL PETROLEUM INVESTMENT07/21/2010
DAEWOO INTERNATIONAL CORP 2 $3,525 POSCO08/30/2010
DANA PETROLEUM PLC 3 $2,787 KOREA NATIONAL OIL CORP07/23/2010
KUMHO INDUSTRIAL CO LTD 4 $1,991 CREDITORS03/29/2010
DEPARTMENT AND DISCOUNT STORE 5 $1,153 LOTTE SHOPPING CO LTD GS HOLDINGS02/09/2010
TITAN CHEMICALS CORP 6 $1,105 HONAM PETROCHEMICAL CORP MULTIPLE SELLERS07/16/2010
SONY BERLIN GMBH 7 $770 NATIONAL PENSION SERVICE MULTIPLE SELLERS04/26/2010
AURORA PLACE TOWER 8 $629 NATIONAL PENSION SERVICE COMMONWEALTH PROPERTY INVESTMENT01/06/2010
BAYAN RESOURCES TBK PT 9 $515 KOREA ELECTRIC POWER CORP07/21/2010
COAL ASSETS 10 $486 MULTIPLE ACQUIRERS ANGLO AMERICAN PLC07/05/2010
1. AmahnahRaya Trustees Bhd, CGDC Investments Corp, Permodalan Nasional Bhd, Union Harvard Investments SRL 2. Cockatoo Coal Ltd, POSCO, Korea Electric Power Corp
1. AmahnahRaya Trustees Bhd, CGDC Investments Corp, Permodalan Nasional Bhd, Union Harvard Investments SRL 2. Corpus Sireo, John Buck Co, Morgan Stanley 3. Cockatoo Coal Ltd, POSCO, Korea Electric Power Corp
Bloomberg
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
0
50
100
150
200
250
300
350
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
15
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Korea Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Kim & Chang 66 1 4.4 13,164 41.1 36.7 1
Shin & Kim 28 2 14.9 7,765 24.2 9.3 5
Bae Kim & Lee 25 3 (5.5) 4,765 14.9 20.4 2
Yulchon 9 4 (3.7) 3,219 10.1 13.8 4
Linklaters LLP 3 5 1.9 2,807 8.8 6.9 8
Allen & Overy LLP 1 6 8.7 2,787 8.7 - -
Lee & Ko 31 7 (10.3) 2,633 8.2 18.5 3
Kadir Andri Aidham & Partners 2 8 4.6 1,461 4.6 - -
Blake Dawson 3 9 3.6 1,276 4.0 0.4 27
Yoon & Yang 14 10 3.0 953 3.0 - -
Clifford Chance LLP 1 11 2.4 770 2.4 - -
Freehills 2 12 2.3 719 2.3 - -
Paul Hastings Janofsky & Walker LLP 2 13 (5.1) 497 1.6 6.7 9
O'Melveny & Myers LLP 1 14 0.8 371 1.2 0.4 29
Paul Weiss Rifkind Wharton & Garrison LLP 1 14 (1.3) 371 1.2 2.5 20
Shearman & Sterling LLP 1 14 (2.2) 371 1.2 3.4 18
Debevoise & Plimpton LLP 1 17 0.9 293 0.9 - -
De Pardieu Brocas Maffei 1 18 0.9 278 0.9 - -
Davis Polk & Wardwell 2 19 0.5 264 0.8 0.3 31
Blake Cassels & Graydon LLP 1 20 0.8 242 0.8 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$32,038 620 $26,761
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
0
50
100
150
200
250
300
350
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
16
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Korea Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Kim & Chang 66 1 4.4 13,164 41.1 36.7 1
Lee & Ko 31 2 (10.3) 2,633 8.2 18.5 2
Shin & Kim 28 3 14.9 7,765 24.2 9.3 4
Bae Kim & Lee 25 4 (5.5) 4,765 14.9 20.4 3
Yoon & Yang 14 5 3.0 953 3.0 - -
Yulchon 9 6 (3.7) 3,219 10.1 13.8 5
Linklaters LLP 3 7 1.9 2,807 8.8 6.9 9
Blake Dawson 3 7 3.6 1,276 4.0 0.4 16
Kadir Andri Aidham & Partners 2 9 4.6 1,461 4.6 - -
Freehills 2 9 2.3 719 2.3 - -
Paul Hastings Janofsky & Walker LLP 2 9 (5.1) 497 1.6 6.7 16
Davis Polk & Wardwell 2 9 0.5 264 0.8 0.3 9
Nagashima Ohno & Tsunematsu 2 9 0.2 68 0.2 - -
Skadden Arps Slate Meagher & Flom LLP 2 9 (0.2) 48 0.2 0.4 9
Latham & Watkins LLP 2 9 - 0 0.0 - -
Allen & Overy LLP 1 16 8.7 2,787 8.7 - -
Clifford Chance LLP 1 16 2.4 770 2.4 - -
O'Melveny & Myers LLP 1 16 0.8 371 1.2 0.4 16
Paul Weiss Rifkind Wharton & Garrison LLP 1 16 (1.3) 371 1.2 2.5 16
Shearman & Sterling LLP 1 16 (2.2) 371 1.2 3.4 16
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$32,038 620 $26,761
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
17
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 China Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
PING AN BANK CO LTD 1 $4,257 SHENZHEN DEVELOPMENT BANK CO PING AN INSURANCE GROUP CO 09/02/2010
ICBC ASIA LTD 2 $1,394 ICBC08/10/2010
CHINA SECURITIES CO LTD 3 $1,076 BEIJING STATE-OWNED ASSETS CITIC SECURITIES CO LTD/CHINA07/30/2010
MULTIPLE TARGETS 4 $800 SHANDONG IRON & STEEL GROUP07/13/2010
FLYING PACE LTD 5 $792 LUNG CHEONG INTERNATIONAL HOLDINGS HAINAN JIAOGUAN HOLDING CO LTD07/12/2010
SHANDONG LIUHE GROUP CO LTD 6 $779 SICHUAN NEW HOPE AGRIBUSINESS CO MULTIPLE SELLERS09/13/2010
SHANGHAI INDUSTRIAL DEVELOPMENT CO 7 $755 SHANGHAI INDUSTRIAL HOLDINGS LTD SHANGHAI SI INVESTMENT DEVELOPMENT08/17/2010
SKYLAND MINING LTD 8 $742 CHINA GOLD INTERNATIONAL RESOURCES08/30/2010
MULTIPLE TARGETS 9 $659 GUANGDONG CHINA SUNSHINE MEDIA CO GUANGZHOU DAILY NEWSPAPER GROUP08/16/2010
GUANGZHOU DIYI DYEING FACTORY 10 $547 HOPSON DEVELOPMENT HOLDINGS LTD GUANGZHOU TEXTILE INDUSTRIAL &08/18/2010
Top 10 China Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
SHANGHAI PUDONG DEVELOPMENT BANK 1 $5,831 CHINA MOBILE LTD03/10/2010
SYNCRUDE CANADA LTD 2 $4,650 CHINA PETROCHEMICAL CORP CONOCOPHILLIPS04/12/2010
PING AN BANK CO LTD 3 $4,257 SHENZHEN DEVELOPMENT BANK CO PING AN INSURANCE GROUP CO 09/02/2010
ARROW ENERGY LTD 4 $3,323 MULTIPLE ACQUIRERS03/08/2010
BRIDAS ENERGY HOLDINGS LTD 5 $3,100 CNOOC LTD03/14/2010
PEREGRINO FIELD 6 $3,070 SINOCHEM GROUP STATOIL ASA05/21/2010
LAIWU STEEL CORP 7 $2,743 JINAN IRON AND STEEL CO LTD02/24/2010
DENWAY MOTORS LTD 8 $2,387 GUANGZHOU AUTOMOBILE GROUP CO LTD05/19/2010
VOLVO CAR CORP 9 $1,800 ZHEJIANG GEELY HOLDING GROUP CO FORD MOTOR CO03/28/2010
MULTIPLE TARGETS 10 $1,721 CHINA STATE GRID CORP MULTIPLE SELLERS05/16/2010
1.African Power Ltd, African Railway & Port Services Ltd, Tonkolili Iron Ore Ltd 2.New Hope Group Co Ltd,Qingdao Hezhiwang Industrial Co Ltd, Qingdao Shancheng Investment Consulting Co Ltd, Qingdao Sizhuang Investment Consulting Co Ltd, Weifang Zhonghui Investment Management Co Ltd 3.Guangzhou Daily Newspaper New Media Co Ltd, Guangzhou Daily Newspaper Operation Co Ltd, Guangzhou Dayang Media Co Ltd 4. Guangzhou Textile Industrial & Trading Group Ltd
1.PetroChina Co Ltd, Royal Dutch Shell Plc 2.Expansion Transmissao Itumbiara Marimbondo SA,Expansion Transmissao de Energia Eletrica SA,Itumbiara Transmissora de Energia SA.Pocos de Caldas Transmissora de Energia Eletrica SA,Ribeirao Preto Transmissora de Energia Eletrica SA,Serra Paracatu Transmissora de Energia SA,Serra da Mesa Transmissora de Energia Eletrica SA 3.ACS Actividades de Construccion y Servicios SA,Elecnor SA,Grupo Isolux Corsan SA
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
0
100
200
300
400
500
600
700
800
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
18
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
China Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Blake Cassels & Graydon LLP 4 1 6.2 7,561 6.4 0.2 73
Osler Hoskin & Harcourt LLP 3 2 (3.6) 5,457 4.6 8.2 4
Baker & McKenzie LLP 8 3 2.3 5,166 4.4 2.1 17
Haiwen & Partners 2 4 4.3 5,096 4.3 0.0 103
Allens Arthur Robinson 2 5 1.5 4,673 3.9 2.4 15
DeHeng Law Firm 1 6 3.4 4,257 3.6 0.2 71
Freshfields Bruckhaus Deringer 12 7 (11.4) 4,191 3.5 14.9 1
Skadden Arps Slate Meagher & Flom LLP 10 8 (1.7) 4,052 3.4 5.1 6
Vinson & Elkins LLP 2 9 (6.1) 3,585 3.0 9.1 3
Blake Dawson 3 10 0.8 3,362 2.8 2.0 19
Gilbert + Tobin 1 11 2.8 3,323 2.8 - -
Demarest e Almeida Advogados 1 12 2.6 3,070 2.6 - -
Allen & Overy LLP 7 13 0.4 1,862 1.6 1.2 34
Hannes Snellman 1 14 1.5 1,800 1.5 - -
Hogan Lovells LLP 1 14 (2.3) 1,800 1.5 3.8 8
Herbert Smith/Gleiss Lutz/Stibbe 4 16 0.9 1,750 1.5 0.6 48
Machado Meyer Sendacz e Opice Advogados 1 17 1.5 1,721 1.5 0.0 122
Pinheiro Neto Advogados 1 17 1.5 1,721 1.5 - -
Uria Menendez Law Firm 1 17 1.5 1,721 1.5 - -
Linklaters LLP 3 20 (0.4) 1,535 1.3 1.7 25
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$118,512 2,144 $108,783
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
$70,000
$80,000
0
100
200
300
400
500
600
700
800
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
19
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
China Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
WongPartnership LLP 13 1 (2.2) 892 0.8 3.0 3
Freshfields Bruckhaus Deringer 12 2 (11.4) 4,191 3.5 14.9 1
Global Law Office 11 3 1.1 1,455 1.2 0.1 73
King & Wood 11 3 0.6 997 0.8 0.2 73
Jones Day 11 3 0.8 915 0.8 0.0 11
Skadden Arps Slate Meagher & Flom LLP 10 6 (1.7) 4,052 3.4 5.1 5
Grandfield Law Firm 10 6 0.2 604 0.5 0.3 47
Beijing Kang Da Law Firm 9 8 0.7 823 0.7 0.0 73
Baker & McKenzie LLP 8 9 2.3 5,166 4.4 2.1 2
Allen & Overy LLP 7 10 0.4 1,862 1.6 1.2 47
Grandall Legal Group 7 10 (0.3) 1,112 0.9 1.2 5
Stamford Law Corp 6 12 0.2 287 0.2 0.0 17
Shearman & Sterling LLP 5 13 (1.4) 1,049 0.9 2.3 9
Davis Polk & Wardwell 5 13 0.1 380 0.3 0.2 30
Clifford Chance LLP 5 13 (1.7) 367 0.3 2.0 11
Blake Cassels & Graydon LLP 4 16 6.2 7,561 6.4 0.2 47
Herbert Smith/Gleiss Lutz/Stibbe 4 16 0.9 1,750 1.5 0.6 5
Mallesons Stephen Jaques 4 16 (0.2) 1,259 1.1 1.3 5
Slaughter & May 4 16 0.2 1,152 1.0 0.8 17
Llinks Law Office 4 16 0.6 1,110 0.9 0.3 47
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$118,512 2,144 $108,783
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
20
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 HK Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
UK ELECTRICITY BUSINESS 1 $9,064 MULTIPLE ACQUIRERS EDF SA07/30/2010
SINO VIEW GROUP LTD 2 $1,146 KIU HUNG ENERGY HOLDINGS LTD FAST GLORY HOLDINGS LTD08/23/2010
FLYING PACE LTD 3 $792 LUNG CHEONG INTERNATIONAL HOLDINGS HAINAN JIAOGUAN HOLDING CO LTD07/12/2010
SEMPRA ENERGY SOLUTIONS 4 $582 NOBLE GROUP LTD MULTIPLE SELLERS09/20/2010
GUANGZHOU DIYI DYEING FACTORY 5 $547 HOPSON DEVELOPMENT HOLDINGS LTD GUANGZHOU TEXTILE INDUSTRIAL &08/18/2010
INTEGRATED DISTRIBUTION SERVICES 6 $537 LI & FUNG LTD08/12/2010
TALENT CENTRAL LTD 7 $489 TOMORROW INTERNATIONAL HOLDINGS TALENT TREND HOLDINGS07/20/2010
POWER GREAT LTD 8 $314 SINO OIL AND GAS HOLDINGS LTD OCEAN GLORY LTD07/16/2010
WISEKING MINING INVESTMENT CO LTD 9 $308 COMPUTECH HOLDINGS LTD MULTIPLE SELLERS07/29/2010
CHYAU FWU INVESTMENT LTD 10 $290 HONG KONG PARKVIEW GROUP MULTIPLE SELLERS09/20/2010
Top 10 HK Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
UK ELECTRICITY BUSINESS 1 $9,064 MULTIPLE ACQUIRERS EDF SA07/30/2010
ORIENT OVERSEAS DEVELOPMENTS LTD 2 $2,200 CAPITALAND LTD ORIENT OVERSEAS INTERNATIONAL LTD01/18/2010
DYNAMIC EVENT LTD 3 $1,378 CHINA PIPE GROUP LTD OCEAN AMPLE LTD04/29/2010
SINO VIEW GROUP LTD 4 $1,146 KIU HUNG ENERGY HOLDINGS LTD FAST GLORY HOLDINGS LTD08/23/2010
FARM LANDS/LIVESTOCK & MILK POWDER 5 $1,054 NATURAL DAIRY NZ HOLDINGS LTD03/24/2010
OVERSEAS UNION ENTERPRISE LTD 6 $953 LIPPO LTD USAHA TEGAS SDN03/09/2010
WHEELOCK PROPERTIES LTD 7 $889 WHEELOCK & CO LTD04/28/2010
NEO-CHINA LAND GROUP HOLDINGS LTD 8 $875 SHANGHAI INDUSTRIAL HOLDINGS LTD01/19/2010
FLYING PACE LTD 9 $792 LUNG CHEONG INTERNATIONAL HOLDINGS HAINAN JIAOGUAN HOLDING CO LTD07/12/2010
TOP MATCH HOLDINGS LTD 10 $639 SUNCORP TECHNOLOGIES LTD WEALTH GRANGE HOLDINGS LTD06/14/2010
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
0
50
100
150
200
250
300
350
400
450
500
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
21
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Hong Kong Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Herbert Smith/Gleiss Lutz/Stibbe 4 1 20.6 9,336 21.0 0.4 34
Allen & Overy LLP 2 2 20.4 9,078 20.4 0.0 46
Slaughter & May 5 3 5.4 2,717 6.1 0.7 28
Baker & McKenzie LLP 5 4 3.1 2,479 5.6 2.5 11
O'Melveny & Myers LLP 3 5 4.8 2,229 5.0 0.2 41
Allen & Gledhill 4 6 (2.4) 1,585 3.6 6.0 4
Mallesons Stephen Jaques 6 7 1.3 1,277 2.9 1.6 13
Skadden Arps Slate Meagher & Flom LLP 4 8 (0.2) 1,257 2.8 3.0 10
Mayer Brown LLP 3 9 1.6 1,229 2.8 1.2 16
WongPartnership LLP 4 10 (0.7) 1,147 2.6 3.3 9
Drew & Napier LLC 1 11 2.1 953 2.1 - -
Reed Smith LLP 1 11 2.1 953 2.1 - -
Freshfields Bruckhaus Deringer 7 13 (14.1) 902 2.0 16.1 1
Jones Day 8 14 0.7 645 1.5 0.8 22
Sullivan & Cromwell LLP 2 15 1.3 582 1.3 - -
Davis Polk & Wardwell 1 15 1.3 582 1.3 - -
Shearman & Sterling LLP 3 17 (3.6) 542 1.2 4.8 5
Cleary Gottlieb Steen & Hamilton LLP 2 18 0.7 541 1.2 0.5 32
Sidley Austin LLP 1 19 0.1 402 0.9 0.8 23
Simpson Thacher & Bartlett LLP 2 20 0.8 334 0.8 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$44,514 629 $32,164
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$10,000
$20,000
$30,000
$40,000
$50,000
$60,000
0
50
100
150
200
250
300
350
400
450
500
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
22
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Hong Kong Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Jones Day 8 1 0.7 645 1.5 0.8 5
Freshfields Bruckhaus Deringer 7 2 (14.1) 902 2.0 16.1 3
Mallesons Stephen Jaques 6 3 1.3 1,277 2.9 1.6 7
Slaughter & May 5 4 5.4 2,717 6.1 0.7 12
Baker & McKenzie LLP 5 4 3.1 2,479 5.6 2.5 1
Herbert Smith/Gleiss Lutz/Stibbe 4 6 20.6 9,336 21.0 0.4 7
Allen & Gledhill 4 6 (2.4) 1,585 3.6 6.0 3
Skadden Arps Slate Meagher & Flom LLP 4 6 (0.2) 1,257 2.8 3.0 6
WongPartnership LLP 4 6 (0.7) 1,147 2.6 3.3 7
O'Melveny & Myers LLP 3 10 4.8 2,229 5.0 0.2 7
Mayer Brown LLP 3 10 1.6 1,229 2.8 1.2 17
Shearman & Sterling LLP 3 10 (3.6) 542 1.2 4.8 20
Nagashima Ohno & Tsunematsu 3 10 0.6 263 0.6 - -
Minter Ellison 3 10 0.2 168 0.4 0.2 12
Stamford Law Corp 3 10 (0.7) 0 0.0 0.7 12
Allen & Overy LLP 2 16 20.4 9,078 20.4 0.0 20
Sullivan & Cromwell LLP 2 16 1.3 582 1.3 - -
Cleary Gottlieb Steen & Hamilton LLP 2 16 0.7 541 1.2 0.5 20
Simpson Thacher & Bartlett LLP 2 16 0.8 334 0.8 - -
Clayton Utz 2 16 (0.3) 195 0.4 0.7 29
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$44,514 629 $32,164
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
23
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 Taiwan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
TAIWAN INTERNATIONAL SECURITIES 1 $422 CAPITAL SECURITIES CORP07/26/2010
LAND & BUILDING 2 $316 WEI CHUAN FOOD CORP07/07/2010
CELXPERT ENERGY CORP 3 $227 DYNAPACK INTERNATIONAL TECHNOLOGY08/05/2010
FORMOSA HA TINH STEEL CORP 4 $135 CHINA STEEL CORP FORMOSA PLASTICS CORP08/26/2010
TAIWAN NANO ELECTRO-OPTICAL 5 $121 FORHOUSE CORP08/02/2010
CERTAIN ASSETS 6 $86 NANYA TECHNOLOGY CORP09/15/2010
LAND & BUILDING 7 $80 TAIWAN LIFE INSURANCE CO LTD CHINFON COMMERCIAL BANK CO LTD08/11/2010
CERTAIN ASSETS 8 $70 NANYA TECHNOLOGY CORP08/11/2010
CERTAIN ASSETS 9 $70 INOTERA MEMORIES INC TOKYO ELECTRON LTD07/28/2010
EEMS TEST SINGAPORE PTE LTD 10 $68 ADVANCED SEMICONDUCTOR ENGINEERING EEMS ITALIA SPA08/02/2010
Top 10 Taiwan Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
NEW CENTURY INFOCOMM TECH CO LTD 1 $649 FAR EASTONE TELECOMMUNICATIONS CO06/25/2010
YOSUN INDUSTRIAL CORP 2 $643 WPG HOLDINGS CO LTD03/20/2010
TAIWAN INTERNATIONAL SECURITIES 3 $422 CAPITAL SECURITIES CORP07/26/2010
LAND & BUILDING 4 $316 WEI CHUAN FOOD CORP07/07/2010
HUGA OPTOTECH INC 5 $237 EPISTAR CORP05/28/2010
CELXPERT ENERGY CORP 6 $227 DYNAPACK INTERNATIONAL TECHNOLOGY08/05/2010
AFPD PTE LTD 7 $226 AU OPTRONICS CORP TOSHIBA CORP03/31/2010
BUILDING IN HSINCHU 8 $184 FAR EASTERN DEPARTMENT STORES CO05/19/2010
UNIVERSAL SCIENTIFIC INDUSTRIAL CO 9 $165 ADVANCED SEMICONDUCTOR ENGINEERING06/15/2010
GLOBAL BRANDS MANUFACTURE LTD 10 $149 HANNSTAR BOARD CORP03/24/2010
1. Taiwan Nano Electro-Optical Technology Co Ltd
Bloomberg
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
0
20
40
60
80
100
120
140
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
24
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Taiwan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Lee & Li 9 1 (7.9) 1,044 13.0 20.9 2
Jones Day 7 2 8.9 921 11.5 2.6 18
Morrison & Foerster LLP 1 3 (0.1) 226 2.8 2.9 15
LCS & Partners 5 4 (30.6) 152 1.9 32.5 1
Chen & Lin 1 5 (6.4) 113 1.4 7.8 9
Freshfields Bruckhaus Deringer 2 6 (14.2) 100 1.2 15.4 5
Tsar & Tsai 1 7 (10.1) 97 1.2 11.3 7
Allen & Gledhill 1 8 (14.6) 68 0.8 15.4 5
Lexcel Partners Attorney-at-Law 1 9 (1.1) 39 0.5 1.6 22
Baker & McKenzie LLP 2 10 (2.6) 18 0.2 2.8 16
Anderson Mori & Tomotsune 1 11 (0.2) 13 0.2 0.4 23
Clifford Chance LLP 1 12 - 0 0.0 - -
Latham & Watkins LLP 1 12 (0.2) 0 0.0 0.2 24
White & Case LLP 1 12 - 0 0.0 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$8,049 248 $7,916
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$4,000
$8,000
$12,000
$16,000
$20,000
$24,000
0
20
40
60
80
100
120
140
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
25
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
Taiwan Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Lee & Li 9 1 (7.9) 1,044 13.0 20.9 2
Jones Day 7 2 8.9 921 11.5 2.6 5
LCS & Partners 5 3 (30.6) 152 1.9 32.5 1
Freshfields Bruckhaus Deringer 2 4 (14.2) 100 1.2 15.4 10
Baker & McKenzie LLP 2 4 (2.6) 18 0.2 2.8 3
Morrison & Foerster LLP 1 6 (0.1) 226 2.8 2.9 10
Chen & Lin 1 6 (6.4) 113 1.4 7.8 5
Tsar & Tsai 1 6 (10.1) 97 1.2 11.3 5
Allen & Gledhill 1 6 (14.6) 68 0.8 15.4 10
Lexcel Partners Attorney-at-Law 1 6 (1.1) 39 0.5 1.6 3
Anderson Mori & Tomotsune 1 6 (0.2) 13 0.2 0.4 16
Clifford Chance LLP 1 6 - 0 0.0 - -
Latham & Watkins LLP 1 6 (0.2) 0 0.0 0.2 10
White & Case LLP 1 6 - 0 0.0 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$8,049 248 $7,916
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
26
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 India Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
CAIRN INDIA LTD 1 $8,380 VEDANTA RESOURCES PLC CAIRN ENERGY PLC08/16/2010
CAIRN INDIA LTD 2 $2,927 VEDANTA RESOURCES PLC08/18/2010
DIGICABLE NETWORK INDIA PVT LTD 3 $1,571 RELIANCE COMMUNICATIONS LTD07/01/2010
RELIANCE NATURAL RESOURCES LTD 4 $1,417 RELIANCE POWER LTD07/04/2010
JSW STEEL LTD 5 $1,028 JFE HOLDINGS INC07/27/2010
PARKWAY HOLDINGS LTD 6 $821 KHAZANAH NASIONAL BHD FORTIS HEALTHCARE LTD07/26/2010
TEESSIDE CAST PRODUCTS PLANT 7 $500 SAHAVIRIYA STEEL INDUSTRIES PCL TATA STEEL LTD08/27/2010
COAL TENEMENTS/GALILEE BASIN 8 $457 ADANI ENTERPRISES LTD LINC ENERGY LTD08/03/2010
MARCELLUS SHALE PROPERTIES 9 $327 RELIANCE INDUSTRIES LTD AVISTA CAPITAL PARTNERS08/05/2010
VIOM NETWORKS LTD 10 $304 MULTIPLE ACQUIRERS SREI INFRASTRUCTURE FINANCE LTD08/12/2010
Top 10 India Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
ZAIN AFRICA BV 1 $10,700 BHARTI AIRTEL LTD MOBILE TELECOMMUNICATIONS CO KSC03/30/2010
CAIRN INDIA LTD 2 $8,380 VEDANTA RESOURCES PLC CAIRN ENERGY PLC08/16/2010
CARABOBO-1 PROJECT 3 $4,848 MULTIPLE ACQUIRERS02/11/2010
HEALTHCARE SOLUTIONS BUSINESS 4 $3,720 ABBOTT LABORATORIES PIRAMAL HEALTHCARE LTD05/21/2010
CAIRN INDIA LTD 5 $2,927 VEDANTA RESOURCES PLC08/18/2010
TOWER PORTFOLIO 6 $1,757 GTL INFRASTRUCTURE LTD BINARIANG GSM SDN BHD01/14/2010
KBL EUROPEAN PRIVATE BANKERS SA 7 $1,694 HINDUJA GROUP KBC GROEP NV05/21/2010
DIGICABLE NETWORK INDIA PVT LTD 8 $1,571 RELIANCE COMMUNICATIONS LTD07/01/2010
RELIANCE NATURAL RESOURCES LTD 9 $1,417 RELIANCE POWER LTD07/04/2010
EQUIPAV SA ACUCAR E ALCOOL 10 $1,160 SHREE RENUKA SUGARS LTD GRUPO EQUIPAV02/22/2010
Bloomberg
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
0
50
100
150
200
250
300
350
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
27
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
India Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
AZB & Partners 83 1 33.2 26,400 44.7 11.5 3
Allen & Overy LLP 5 2 17.9 10,738 18.2 0.3 32
Herbert Smith/Gleiss Lutz/Stibbe 2 3 18.1 10,700 18.1 0.0 46
Linklaters LLP 2 3 17.0 10,700 18.1 1.1 27
Olswang 1 3 18.1 10,700 18.1 - -
Latham & Watkins LLP 2 6 10.7 8,385 14.2 3.5 7
Baker & McKenzie LLP 1 7 6.3 3,720 6.3 0.0 42
Stephenson Harwood 1 7 6.3 3,720 6.3 - -
Amarchand Mangaldas & Suresh A Shroff & Co 4 9 (20.6) 1,980 3.4 24.0 1
WongPartnership LLP 3 10 3.1 1,932 3.3 0.2 36
Allen & Gledhill 2 11 2.1 1,246 2.1 - -
Shearman & Sterling LLP 4 12 1.5 1,175 2.0 0.5 28
Crawford Bayley & Co 1 13 1.8 1,160 2.0 0.2 35
Tozzini Freire Teixeira E Silva 1 13 2.0 1,160 2.0 - -
Veirano Advogados 1 13 2.0 1,160 2.0 - -
Davis Polk & Wardwell 2 16 (16.8) 725 1.2 18.0 2
Simpson Thacher & Bartlett LLP 4 17 (1.3) 717 1.2 2.5 12
Paul Weiss Rifkind Wharton & Garrison LLP 2 18 1.1 625 1.1 - -
Vinson & Elkins LLP 3 19 1.0 606 1.0 - -
Corrs Chambers Westgarth 1 20 0.8 457 0.8 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$59,052 583 $10,405
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
0
50
100
150
200
250
300
350
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
28
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
India Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
AZB & Partners 83 1 33.2 26,400 44.7 11.5 1
Allen & Overy LLP 5 2 17.9 10,738 18.2 0.3 11
Amarchand Mangaldas & Suresh A Shroff & Co 4 3 (20.6) 1,980 3.4 24.0 2
Shearman & Sterling LLP 4 3 1.5 1,175 2.0 0.5 19
Simpson Thacher & Bartlett LLP 4 3 (1.3) 717 1.2 2.5 19
WongPartnership LLP 3 6 3.1 1,932 3.3 0.2 19
Vinson & Elkins LLP 3 6 1.0 606 1.0 - -
DLA Piper LLP 3 6 (0.1) 45 0.1 0.2 4
Herbert Smith/Gleiss Lutz/Stibbe 2 9 18.1 10,700 18.1 0.0 19
Linklaters LLP 2 9 17.0 10,700 18.1 1.1 4
Latham & Watkins LLP 2 9 10.7 8,385 14.2 3.5 11
Allen & Gledhill 2 9 2.1 1,246 2.1 - -
Davis Polk & Wardwell 2 9 (16.8) 725 1.2 18.0 11
Paul Weiss Rifkind Wharton & Garrison LLP 2 9 1.1 625 1.1 - -
Wachtell Lipton Rosen & Katz 2 9 0.8 456 0.8 - -
Jones Day 2 9 (2.8) 340 0.6 3.4 4
O'Melveny & Myers LLP 2 9 0.5 266 0.5 - -
Freshfields Bruckhaus Deringer 2 9 (1.6) 234 0.4 2.0 2
White & Case LLP 2 9 0.2 137 0.2 0.0 19
Kirkland & Ellis LLP 2 9 (1.3) 132 0.2 1.5 19
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$59,052 583 $10,405
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
29
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
Top 10 South East Asia Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name (if applicable)Seller Name
Q3 Largest M&A Transactions
TANJONG PLC 1 $2,472 TANJONG CAPITAL SDN BHD07/30/2010
CENTENNIAL COAL CO LTD 2 $1,852 BANPU PCL07/05/2010
SUCROGEN LTD 3 $1,467 WILMAR INTERNATIONAL LTD CSR LTD07/05/2010
TITAN CHEMICALS CORP 4 $1,105 HONAM PETROCHEMICAL CORP MULTIPLE SELLERS07/16/2010
28 SERVICED RESIDENCE PROPERTIES 5 $1,028 ASCOTT RESIDENCE TRUST CAPITALAND LTD08/20/2010
MW BRANDS HOLDINGS SAS 6 $884 THAI UNION FROZEN PRODUCTS PCL TRILANTIC CAPITAL PARTNERS07/28/2010
PARKWAY HOLDINGS LTD 7 $821 KHAZANAH NASIONAL BHD FORTIS HEALTHCARE LTD07/26/2010
CHANDRA ASRI PT 8 $725 TRI POLYTA INDONESIA TBK PT09/27/2010
ALKAS REALTY PTE LTD 9 $638 OVERSEAS UNION ENTERPRISE LTD MULTIPLE SELLERS08/11/2010
BAYAN RESOURCES TBK PT 10 $515 KOREA ELECTRIC POWER CORP07/21/2010
Top 10 South East Asia Announced Deals
RANK
VOLUME
Ranked by Total Value
USD (Mln)
Announced
Date Target Name Acquirer Name Seller Name(if applicable)
YTD Largest M&A Transactions
CARABOBO-1 PROJECT 1 $4,848 MULTIPLE ACQUIRERS02/11/2010
ASTRO ALL ASIA NETWORKS PLC 2 $2,888 ASTRO HOLDINGS SDN BHD03/17/2010
TANJONG PLC 3 $2,472 TANJONG CAPITAL SDN BHD07/30/2010
ORIENT OVERSEAS DEVELOPMENTS LTD 4 $2,200 CAPITALAND LTD ORIENT OVERSEAS INTERNATIONAL LTD01/18/2010
PARKWAY HOLDINGS LTD 5 $1,867 KHAZANAH NASIONAL BHD05/27/2010
CENTENNIAL COAL CO LTD 6 $1,852 BANPU PCL07/05/2010
TOWER PORTFOLIO 7 $1,757 GTL INFRASTRUCTURE LTD BINARIANG GSM SDN BHD01/14/2010
EON CAPITAL BHD 8 $1,498 HONG LEONG BANK BHD01/21/2010
SUCROGEN LTD 9 $1,467 WILMAR INTERNATIONAL LTD CSR LTD07/05/2010
LAND & BUILDING 10 $1,160 SUNWAY REAL ESTATE INVESTMENT SUNWAY CITY BHD05/11/2010
Bloomberg
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
0
100
200
300
400
500
600
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
30
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
South East Asia Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Volume
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
Allen & Gledhill 45 1 (5.9) 10,022 15.5 21.4 1
WongPartnership LLP 51 2 4.0 8,728 13.5 9.5 4
Slaughter & May 2 3 7.2 4,672 7.2 - -
Kadir Andri Aidham & Partners 3 4 6.7 4,349 6.7 - -
Baker & McKenzie LLP 9 5 (7.0) 3,344 5.2 12.2 3
Allen & Overy LLP 5 6 4.2 2,901 4.5 0.3 44
O'Melveny & Myers LLP 4 7 2.4 2,434 3.8 1.4 33
Norton Rose LLP 3 8 (5.2) 2,055 3.2 8.4 5
Drew & Napier LLC 4 9 - 1,990 3.1 3.1 24
Freehills 5 10 3.1 1,968 3.1 0.0 58
Minter Ellison 4 11 (2.2) 1,742 2.7 4.9 14
Mallesons Stephen Jaques 2 12 (3.3) 1,486 2.3 5.6 12
Clifford Chance LLP 6 13 2.2 1,473 2.3 0.1 47
Yulchon 2 14 2.3 1,461 2.3 - -
AZB & Partners 11 15 1.7 1,117 1.7 - -
Torys LLP 1 16 1.7 1,100 1.7 - -
Latham & Watkins LLP 3 17 (4.8) 985 1.5 6.3 11
Skadden Arps Slate Meagher & Flom LLP 2 18 (6.8) 969 1.5 8.3 6
Reed Smith LLP 1 19 1.5 953 1.5 - -
Herbert Smith/Gleiss Lutz/Stibbe 2 20 (0.3) 845 1.3 1.6 28
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$64,642 1,024 $40,270
*Total Volume represents all announced transactions in US$ millions.
TOTAL
Bloomberg
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
$50,000
0
100
200
300
400
500
600
2006
Q4
2007
Q1
2007
Q2
2007
Q3
2007
Q4
2008
Q1
2008
Q2
2008
Q3
2008
Q4
2009
Q1
2009
Q2
2009
Q3
2009
Q4
2010
Q1
2010
Q2
2010
Q3
/
QUARTERLY VOLUME
USD (Mln) #Deals
31
MA <GO> LEAG <GO>MA <GO>LMX <GO>MA <GO>LEAG <GO>
- 20092010
South East Asia Announced Deals
1/1/10 9/30/10
CHANGEFIRM
RANK MKT
SHARE
VOLUME DEAL
COUNT
RANK MKT
SHARE
Any Involvement, Ranked by Deal Count
MKT
SHARE
USD (Mln)
M&A Legal Advisory League Tables
WongPartnership LLP 51 1 4.0 8,728 13.5 9.5 2
Allen & Gledhill 45 2 (5.9) 10,022 15.5 21.4 1
Stamford Law Corp 20 3 (0.8) 762 1.2 2.0 4
AZB & Partners 11 4 1.7 1,117 1.7 - -
Baker & McKenzie LLP 9 5 (7.0) 3,344 5.2 12.2 3
Clifford Chance LLP 6 6 2.2 1,473 2.3 0.1 5
Allen & Overy LLP 5 7 4.2 2,901 4.5 0.3 5
Freehills 5 7 3.1 1,968 3.1 0.0 28
O'Melveny & Myers LLP 4 9 2.4 2,434 3.8 1.4 19
Drew & Napier LLC 4 9 - 1,990 3.1 3.1 8
Minter Ellison 4 9 (2.2) 1,742 2.7 4.9 14
Jones Day 4 9 (0.3) 533 0.8 1.1 14
Freshfields Bruckhaus Deringer 4 9 (7.1) 200 0.3 7.4 19
Rajah & Tann 4 9 - 9 0.0 - -
Kadir Andri Aidham & Partners 3 15 6.7 4,349 6.7 - -
Norton Rose LLP 3 15 (5.2) 2,055 3.2 8.4 19
Latham & Watkins LLP 3 15 (4.8) 985 1.5 6.3 28
Allens Arthur Robinson 3 15 (4.7) 148 0.2 4.9 8
Linklaters LLP 3 15 (7.0) 0 0.0 7.0 7
Slaughter & May 2 20 7.2 4,672 7.2 - -
*Includes Mergers, Acquisitions, Divestitures, Self-tenders and Spinoffs. Excludes Open Market Transactions.
$64,642 1,024 $40,270
*Total Volume represents all announced transactions in US$ millions.
*Tables based on deal count, then volume. Market share based on deal volume.
TOTAL
Bloomberg
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Asia Pacific
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10/01/2010
Bloomberg M&A league tables represent transactions that are either pending or completed, and for which Bloomberg
has been notified.
Bloomberg M&A league tables include mergers, acquisitions, divestitures, self-tenders, spinoffs, debt-for-equity swaps,
private placements of common equity and convertible securities, and purchases of convertible securities and cash
injection components of recapitalizations according to Bloomberg standards. Excludes open market transactions. All
deals except additional stake purchases are subjected to a minimum threshold of 5% equity or USD 50 million total
value. League table credit is based on announced total value of a deal.
Bloomberg LP and its suppliers believe the information herein was obtained from reliable sources, but they do not
guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or
sale of securities or commodities.
Asia Pacific M&A Legal Advisory League Table
Bloomberg 2010 1st 3 Qtrs