Global Finance magazine in association with Merrill DataSite® presents the video webcast on Trends in Mergers and Acquisitions, which took place the Thursday, June 3rd at 11:00 a.m

1. Trends in M&A
A GLOBAL FINANCE
LIVE VIDEO WEBCAST

2. TOPICS
1) Opportunities and challenges in today’s M&A market
2) Best practices
3) Managing transaction costs

3. SPEAKERS
• Chris Ruggeri, principal, Deloitte Financial Advisory Services
• Allen Miller, head of Corporate Department, Chadbourne and Park
• Daniel Barclay, head of Canadian M&A, BMO Capital Markets

4. Global M&A Activity Summary
Deal Volume (US$Bn)
Number of
Deals
Source: SDC
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5. Global Cross Border M&A Activity
% of Global M&A Activity
Deal Volume (US$Bn)
Source: TSX Review, SDC
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6. Global M&A Transaction Size
100%
90% 21.2% 23.6%
26.8% 24.6% 24.8%
80%
70%
60% 35.7%
43.2% 37.6% 36.4%
38.8%
50%
40%
11.2% 10.1%
9.5%
30% 10.6% 11.6%
20% 19.4% 18.3% 19.3%
16.3% 16.6%
10%
7.5% 7.5% 10.2% 10.1% 9.4%
0%
2006 2007 2008 2009 2010
Less Than $100MM $100MM-$500MM $500MM-$1Bn $1Bn-$10Bn Over $10Bn
Source: SDC
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7. Top 50 Deals in 2009 by Industry
Technology
Mining 2%
3% Other
Utilities 4%
4%
Healthcare
21%
Transportation
6%
Food & Beverage
6%
Financial Services
Media & 20%
Communications
9%
Automotive
10% Energy
15%
Total Top 50 Deals: $624Bn
Source: Bloomberg
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8. North American Offer Considerations
Source: S&P
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9. Cumulative Uninvested P/E Capital
Capital (US$Bn)
Sources: S&P
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10. M&A in Today’s Market
A recent Deloitte survey of over 160 corporate development executives
showed that they see an effective M&A effort as:
•A competitive differentiator
•An accelerant of corporate growth and expansion
•A way to evolve their skill sets, especially in the international arena

11. Where Are the Best Opportunities?
2010 GDP Growth Estimates
Asia
CIS
Middle East
Latin America
US
Euro Area
0 1 2 3 4 5 6 7 8 9
Source: Peterson Institute for International Economics (as of April 2010)
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12. Best Practices
Beyond execution – using new tools both before and after the deal:
• Knowledge management
• Playbooks
• Training
•Standardized analytics
• Discounted cash flow– plus decision analysis, probabilistic modeling
• Not just measuring value but gaining insight
• More advanced technology
• Process optimization
• Strategic flexibility
• Accountability for integration and deal success
12 Copyright © 2010 Deloitte Development LLC. All rights reserved.

13. Most Important Skills for Effective M&A
Top 5 ranked, with 1 being most important
Deal team experience and training 1 2 3 4 5
Ability to assess value and risk 1 2 3 4 5
Ability to effectively generate deal flow and targets 1 2 3 4 5
Coordinated and efficient process 1 2 3 4 5
Negotiation skills 1 2 3 4 5
Post-merger integration 1 2 3 4 5
Ability to identify synergies 1 2 3 4 5
Ability at courting targets 1 2 3 4 5
Ability to capture synergies 1 2 3 4 5
Speed in closing deals 1 2 3 4 5
0 20 40 60 80 100 120 140
13 Copyright © 2010 Deloitte Development LLC. All rights reserved.

14. Deal Process Best Practices
• Use RFPs as education tool
• Ask advisors to conduct background checks
• Know and reconcile disclosure obligations in relevant jurisdictions
• Review deal structure from multiple perspectives
• Do not assume best case scenario
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15. Managing Transaction Costs
• Availability of
in-house resources
Cost • Deal complexity
• Schedule
• Risk management
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