and welcome you to our webcast: “strategic m&a deals: regions, sectors and structures” the...
TRANSCRIPT
and
welcome you to our webcast:
“Strategic M&A Deals: Regions, Sectors and Structures”
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Introduction
Moderator:
Mary Kathleen Flynn Senior Editor/Video ProducerThe Deal LLC
REMINDER:
The audience is in listen-only mode
Please e-mail questions via the Q&A panel box
Select questions will be answered during the last 10 minutes of the program
Please answer poll questions
Webex customer support at 866-229-3239
Lawrence Golub President
Golub Capital Inc.
Suzanne Miller
Senior WriterThe Deal
EXPERT PANEL
Frank AquilaPartner
Sullivan & Cromwell LLC
Landscape for strategic M&A deals: What have buyers and sellers seen in
2011?
Do you anticipate doing more, fewer or a similar amount of strategic acquisitions in 2011, compared to the previous year?
Source: The Deal Survey Report: Strategic Acquirers
Global M&A transactions totaled $809.1 billion in the first quarter 2011, a 28% jump from
the same year ago period
Source: dealogic
For the remainder of 2011, how muchdoes your company expect to spend on strategic
acquisitions?
Source: The Deal Survey Report: Strategic Acquirers
Sectors with greatest level of expected deal activity
Source: The Deal Survey Report: Strategic Acquirers
What is the biggest challenge you see indoing a strategic acquisition?
Source: The Deal Survey Report: Strategic Acquirers
AUDIENCE SURVEY QUESTION:
For the remainder of 2011, how much does your company expect to spend on
strategic acquisitions?A. None
B. Under $249 million
C. Between $250 million and $499 million
D. Between $500 million and $999 million
E. Between $1 billion and $2.49 billion
F. Between $2.5 billion and $9.9 billion
G. $10 billion or more
The middle market is big for strategic acquirers. Why?
Reopening of credit markets
Deploying cash, which was hoarded during the recession, for
deals
Private equity’s role in strategic acquisitions
Deal structure trends of strategic acquirers
SELECT RECENT NOTABLE STRATEGIC ACQUISITIONS
Buyer Target Date Amount
AT&T Corp. T-Mobile March 20, 2011 $39 billion
Microsoft Corp. Skype Technologies SA
May 10, 2011 $8.5 billion
All State Corp. Esurance Answer Financial Corp.
May 18, 2011 $1 billion
Hearst Corp. Lagardere’s U.S. media properties
Jan. 3, 2011 $870.7 million
Source: The Deal Pipeline
Financing’s role in strategic acquisitions
Often overlooked: The corporate integration
factor in the strategic deal equation
http://rivel.com/td/thedeal.htm
Outlook for strategic M&A for remainder of
2011
Q&A
THE DEAL WEBCAST SERIESUpcoming Events
Brought to you by The Deal LLC and Merrill DataSite, this complimentary event entitled “Following a Road More Traveled: Euro Cross Border M&A Deals”on June 2 at 10 a.m. EST explores dealmaking trends across the European continent.
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