welcome you to our webcast: following a road more traveled: european cross-border m&a deals and
TRANSCRIPT
welcome you to our webcast: Following a Road More Traveled:
European Cross-border M&A Deals
and
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
Anthony FryChairman of U.K. Investment
Banking Espírito Santo Investment Bank
EXPERT PANEL
Matthew Jacobson Partner
Freshfields Bruckhaus Deringer LLP
Marc Titmus MatherDirector
GI Partners LLP
EXPERT PANEL
Jonathan BraudeSenior WriterThe Deal LLC
AUDIENCE POLL QUESTION
Which Western European country or group of countries will have the
greatest level of M&A deal activity in 2011?
A. United KingdomB. GermanyC. FranceD. Portugal, Italy, Ireland, Greece and
Spain (PIIGS)E. Other
European M&A statistics: The story behind the numbers
Source: Thomson Reuters
Europe generated 25% of worldwide M&A, equal to $180 billion, in the
first quarter
Source: Thomson Reuters
SELECT RECENT NOTABLE EUROPEAN CROSS-BORDER DEALS
Buyer Target Date Amount
AT&T Corp.
San Antonio
T-Mobile USA Inc.(Deutsche Telekom AG unit)Bonn, Germany
March 20 $39 billion
Microsoft Corp.
Redmond, Wash.
Skype Technologies SA
Luxembourg
May 10 $8.5 billion
Thermo Fisher Scientific Corp.
Waltham, Mass.
Phadia AB
Uppsala, Sweden
May 19 $3.5 billion
Labelux Group GmbH
Vienna
Jimmy Choo Ltd.
London
May 22 $807.3 million
Source: The Deal Pipeline
Source: Reuters
Cross-border PE deals poised for more activity with an estimated $135 billion in dry power
Source: Prequin
Dealmakers’ view from field
Atmosphere of financing for cross-border European M&A deals
U.S.-based companies using revenues outside the country to acquire in
Europe
Countries or regions that have the most dealmaking
opportunities
AUDIENCE POLL QUESTION
What industries do you think currently pose the greatest opportunity for consolidation in Europe?
A. Financial, business and professional services
B. Media and telecommunicationsC. Retail and consumer goodsD. ManufacturingE. Healthcare and pharmaceuticalsF. Other
Sectors that are seeing the most dealmaking activity
The ever-changing regulatory landscape for European cross-border dealflow
AUDIENCE POLL QUESTION
What effect do you believe the change in the guard at the IMF will have on dealmaking
activity across Europe?
A. Extremely supportiveB. Somewhat supportiveC. Somewhat inhibitiveD. Extremely inhibitiveE. No effect
Outlook for European cross-border M&A for the remainder
of 2011
Q&A
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