SMALL CAP M&A REVIEW LEGAL ADVISORS

Transcription

1 SMALL CAP M&A REVIEW LEGAL ADVISORS REUTERS / Ralph Orlowski First Half

2 First Half Mergers & Acquisitions Small Cap M&A Legal Review Table of Contents Worldwide Small Cap M&A Deals Intelligence Worldwide Small Cap Rankings (MMLa) US Target Small Cap Rankings (MMLa) Latin America Involvement Small Cap Rankings (MMLa) European Involvement Small Cap Rankings (MMLa) UK Involvement Small Cap Rankings (MMLa) French Involvement Small Cap Rankings (MMLa) German Involvement Small Cap Rankings (MMLa) Italian Involvement Small Cap Rankings (MMLa) Spanish Involvement Small Cap Rankings (MMLa) Nordic Involvement Small Cap Rankings (MMLa) Benelux Involvement Small Cap Rankings (MMLa) Eastern Europe Involvement Small Cap Rankings (MMLa) Hochinma Involvement Small Cap Rankings (MMLa) Hong Kong Involvement Small Cap Rankings (MMLa) Australia/New Zealand Involvement Small Cap Rankings (MMLa) Singapore Involvement Small Cap Rankings (MMLa) Japanese Involvement Small Cap Rankings (MMLa) Chinese Involvement Small Cap Rankings (MMLa) Indian Involvement Small Cap Rankings (MMLa) Ranking Criteria Summary

3 M&A Rankings For MidMarket Deals Valued Up To US$m Are Also Available First Half DEALS VALUED UP TO US$ MILLION SMALLCAP M&A LEGAL REVIEW SmallCap Deals Intelligence Worldwide announced SmallCap M&A deals valued up to $ million (including undisclosed value deals) totaled US$. billion in the first half of a.% decrease yearonyear. The AsiaPacific (ex Central Asia) region (by target domicile) led the SmallCap market, with US$. billion of announced deal activity. Europe (by target domicile) led the market in the number of deals announced, with, transactions for the first half of, representing.% of the, deals announced worldwide. The sector captured.% of total announced SmallCap value deals, followed by and, each respectively registering.% and.% of the overall market. Jones Day tops the worldwide MidMarket rankings for deals valued up to $ million in the first half of, working on deals with a combined value of $ million. Announced SmallCap M&A by Target Nation Up To US$m Region/Nation // // // // Rank Value US$m # of Deals Rank Value US$m Jan Jun # of Deals Rank Value Change (%) Worldwide,.,,.,. Americas,.,,.,. United States of America,.,,.,. Canada,.,.. Brazil.,.. Chile... Mexico... Colombia... Argentina... Europe,.,,.,. United Kingdom,.,,.,. France,.,,.,. Germany,.,. Italy,... Spain.,.. Sweden Poland Russian Federation Netherlands Norway Turkey Switzerland... Denmark... Finland Africa/Middle East/Central Asia.,..,... South Africa Israel AsiaPacific (ex Central Asia) China South Korea Hong Kong,.,.,.,.,,,.,.,.,.,,.... Australia,.,. India,,.. Malaysia... Taiwan.,.. Singapore Japan.,.,.,.,.. Worldwide SmallCap M&A up to US$m by Rank Value Range $ $, $, $ $, $ $, $ $, $ $ US$ m US$ m US$ m US$ m US$ m Worldwide SmallCap M&A up to US$m by Target Industry Jan Mar.%.%.%.%.%.%.%.%.%.%.%.%

4 First Half SmallCap M&A Up To US$m Worldwide SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Worldwide SmallCap M&A up to US$m by Target Nation Region Jan Jun per Advisor # of RankValue YoY Rank Legal Advisor US$m Rank Val Chg (%) Jones Day... Latham & Watkins CMS..... Kirkland & Ellis.. Allen & Overy.... Morgan Lewis & Bockius.... King & Wood Mallesons *.. Orrick Herrington & Sutcliffe LLP *.. Norton Rose Fulbright.. Weil Gotshal & Manges *.. Dentons *.. Clifford Chance.. Bryan Cave LLP *.. Linklaters *.. Freshfields Bruckhaus Deringer * *.. Herbert Smith Freehills * *.. Eversheds * *. *. Goodwin Procter LLP *.. McDermott Will & Emery * *.. Paul Hastings LLP *. Paul, Weiss *.. Stikeman Elliott *.. Osborne Clarke * *.. Wilson Sonsini Goodrich & Rosati. *. Ashurst *.. Skadden *.. AZB & Partners * *.. Sidley Austin LLP * *.. Squire Patton Boggs LLP * *.. Miller Thomson *.. Kim & Chang *. Mori Hamada & Matsumoto.. McGuireWoods LLP * *. *. Willkie Farr & Gallagher * * * Cuatrecasas Goncalves Pereira *.. Gibson Dunn & Crutcher *.. Dechert * *.. Ellex * *. Lamartine Conseil * *. *. Cooley LLP *.. Gide Loyrette Nouel * *.. Nishimura & Asahi *.. Noerr LLP * *. *. PwC Legal LLP * *.. Mayer Brown LLP * * * NCTM * *.. Osler Hoskin & Harcourt LLP * *.. Simpson Thacher & Bartlett * *.. Loyens & Loeff * * * Khaitan & Co * *.. O'Melveny & Myers * *. *.,,.. $ $ $ $ $ $ $ $ Africa/Middle East Americas AsiaPacific Europe Japan Worldwide Cross Border Volume up to $m Rank Value (US$m) $,, Q Volume (US$b),, Number of Deals $,,,,,,, $,,,, $, $, $, $ $

5 First Half SmallCap M&A Up To US$m US Target SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun US SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) Jones Day.. Kirkland & Ellis.. Latham & Watkins.. Morgan Lewis & Bockius.... Bryan Cave LLP.. Goodwin Procter LLP.. Paul, Weiss *. Wilson Sonsini Goodrich & Rosati *.. Sidley Austin LLP *. McGuireWoods LLP *. Weil Gotshal & Manges * * *.. Paul Hastings LLP *.. Orrick Herrington & Sutcliffe LLP * *. Skadden * * Cooley LLP *.. Gibson Dunn & Crutcher * *.. McDermott Will & Emery * Fenwick & West LLP.. Willkie Farr & Gallagher * * O'Melveny & Myers *.. King & Spalding * * * *.. Dorsey & Whitney LLP *.. Andrews Kurth LLP * *. Davis Polk & Wardwell * * * Dechert *. *. Greenberg Traurig * *.. Troutman Sanders LLP * *.. Choate, Hall & Stewart LLP * *.. Foley & Lardner * *. *. Fried Frank Harris Shriver & Jacobson * * * Blank Rome LLP * *. Norton Rose Fulbright * *.. Baker & Hostetler LLP *.. Akin, Gump, Strauss, Hauer & Feld * *. *. Winston & Strawn * * * Squire Patton Boggs LLP * *. *. Morrison & Foerster * *. *. Wachtell Lipton Rosen & Katz * *.. Sullivan & Cromwell * * * Simpson Thacher & Bartlett * * * Alston & Bird * *.. Cravath, Swaine & Moore * * * Dentons * *.. Vinson & Elkins LLP * *.. Ropes & Gray * * K&L Gates * *. *. * *. Honigman Miller Schwartz and Cohn (MI) * *.,,.. $ $ $ $ $ $ $ $ $ $,,,, US$ m US$ m US$ m US$ m US$ m US SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

6 First Half SmallCap M&A Up To US$m Latin America Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Latin American SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) Tozzini Freire Teixeira e Silva *.. Pinheiro Neto Advogados.... Souza, Cescon, Barrieu & Flesch Advogados.. Machado Meyer Sendacz & Opice *.. Stocche Forbes Advogados *. Mattos Filho Veiga Filho Marrey Jr.. Veirano Advogados * *.. Barbosa Mussnich & Aragao * * Azevedo Sette Avogados. Lobo & de Rizzo Advogados *. Lefosse Advogados * * Jones Day * * * Demarest Advogados * * * * * * Cleary Gottlieb Steen & Hamilton * * Skadden * * * Norton Rose Fulbright *. Bandiera Advogados * * Carey & Cia * *.. Shearman & Sterling LLP * *. Creel, GarciaCuellar y Muggenburg * * Perez Llorca * * Osborne Clarke *. * * * Nishimura & Asahi * * * Clifford Chance *. * Cuatrecasas Goncalves Pereira * * * Noerr LLP * * * Lacaz Martins, Pereira Neto, Gurevich e Schoueri * * Pinheiro Guimaraes * * * Weil Gotshal & Manges * * * Osler Hoskin & Harcourt LLP *. Uria Menendez *. *,.. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Latin American SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.% %.%.%.%

7 First Half SmallCap M&A Up To US$m European Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun European SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) CMS.. Allen & Overy... Jones Day Clifford Chance... Dentons... Linklaters... Eversheds *... Freshfields Bruckhaus Deringer *... Latham & Watkins... Orrick Herrington & Sutcliffe LLP *... Osborne Clarke *... Herbert Smith Freehills *... Weil Gotshal & Manges *.. Cuatrecasas Goncalves Pereira * *... Squire Patton Boggs LLP *... Ellex * *.. Ashurst *... Lamartine Conseil * *... Norton Rose Fulbright * *.. McDermott Will & Emery * *... King & Wood Mallesons * *... Gide Loyrette Nouel * *... Noerr LLP *.. *. Loyens & Loeff * * * NCTM * *... PwC Legal LLP * *... Hengeler Mueller * * * Fidal * *.. *. Paul Hastings LLP *... Mannheimer Swartling Advokatbyra *. Castren & Snellman * *... Havel Holasek & Partners sro * *.. *. Skadden * * Kirkland & Ellis * *... Travers Smith * *... Heuking Kuehn Lueer Wojtek * * * Kromann Reumert * *... Mayer Brown LLP * * * Gianni Origoni Grippo Cappelli & Partners * *.. *. Bird & Bird * *... Olswang * *... Stibbe * *... Gateley LLP * *.. * Dechert * *... Addleshaw Goddard *... Studio Pedersoli e Associati * *... Reed Smith LLP * *.. *. Luther Rechtsanwaltsgesellschaft mbh * *.. Schoenherr Attorney's at Law * *... Advokatfirman Vinge * *... Morgan Lewis & Bockius * *...,,.,.. $,, $,, $, $,, $,, $ $ US$ m US$ m US$ m US$ m US$ m European SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.% *tie

8 First Half SmallCap M&A Up To US$m UK Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun UK SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m GBP mil Rank Val Chg (%)... Allen & Overy... Osborne Clarke *... CMS *... Squire Patton Boggs LLP *... Eversheds *... Jones Day *... Dentons * *... *... Freshfields Bruckhaus Deringer *... Travers Smith... Clifford Chance * * * Linklaters * *.. Gateley LLP * *.. *. Addleshaw Goddard * *... Herbert Smith Freehills * *.. * *.. Ashurst *... Latham & Watkins * * Olswang *.. Kirkland & Ellis * *... Norton Rose Fulbright * * * * Weil Gotshal & Manges * *.. Slaughter & May *... Reed Smith LLP * * * McDermott Will & Emery * * * Webber Wentzel * *... King & Wood Mallesons * * * Morgan Lewis & Bockius * *.. Nabarro.. Macfarlanes *.. Studio Pedersoli e Associati *.. * Skadden * * * Fried Frank Harris Shriver & Jacobson * * * PwC Legal LLP * *... Orrick Herrington & Sutcliffe LLP * *... Simpson Thacher & Bartlett * * * Willkie Farr & Gallagher * * * Noerr LLP * * * Cooley LLP * *... Bird & Bird * *.. Loyens & Loeff * * * Dechert *.. Pinsent Masons * *.. Sidley Austin LLP Mannheimer Swartling Advokatbyra * * *.. * Roschier * *.. * PwC Societe D'Avocats SELAS * * Paul, Weiss * * * Stikeman Elliott * * * Heuking Kuehn Lueer Wojtek * * * Shearman & Sterling LLP * * * Dorsey & Whitney LLP * *.. Paul Hastings LLP * * * Scotto & Associes * * Arthur Cox * *.. Borenius Ltd * * * Wilson Sonsini Goodrich & Rosati * * * Gibson Dunn & Crutcher * *..,,.,.. $, $, $ $ $ $ US$ m US$ m US$ m US$ m US$ m UK SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.% *tie

9 First Half SmallCap M&A Up To US$m French Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun French SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) CMS.. *. Lamartine Conseil... Gide Loyrette Nouel... Jones Day... Fidal *.. *. Allen & Overy *.. *. Orrick Herrington & Sutcliffe LLP *... *... Linklaters * * * Clifford Chance * *.. *. Latham & Watkins *... Weil Gotshal & Manges *.. PwC Societe D'Avocats SELAS *.. * Dentons * *.. *. * * * Dechert *... * *... De Pardieu Brocas Maffei * * McDermott Will & Emery * *... Mayer Brown LLP * * PINOT DE VILLECHENON ASSOCIES SCP * *.. Arsene Taxand * * Freshfields Bruckhaus Deringer * *.. * Paul Hastings LLP * *... Willkie Farr & Gallagher * * * Lamy & Associes * *... Ernst & Young Societe d'avocats SELAS * *.. * Taj * * * King & Wood Mallesons * * HPML SELARL * *... Herbert Smith Freehills * * * Cleary Gottlieb Steen & Hamilton * * * Bredin Prat * *... Chammas & Marcheteau * *... Reed Smith LLP * *.. *. SBAvocats SELARL * *.. Piotraut Gine Avocats SELARL *.. * *.. LB Avocats * *... K&L Gates *.. Eversheds * *... Jeantet & Associes * * * Bignon Lebray & Associes * *... De Gaulle Fleurance & Associes * *... Joffe & Associes * *... Skadden * * * LAMY LEXEL Avocats Associes * *... LL Berg * *.. Brunswick societe d'avocats * *... Scemla Loizon Veverka & de Fontmichel * *... Agilys SA * * * August & Debouzy Avocats * *.. *,,.,.. $. $. $. $. $. $. $. $. $. $. $ French SmallCap M&A up to US$m by Target Industry.%.% US$ m US$ m US$ m US$ m US$ m.%.%.%.%.%.%.%.%, Jan Jun *tie

10 First Half SmallCap M&A Up To US$m German Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun GermanSmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) CMS... Noerr LLP *... Hengeler Mueller Heuking Kuehn Lueer Wojtek Osborne Clarke *.. * Luther Rechtsanwaltsgesellschaft mbh *.. * * *.. *. Freshfields Bruckhaus Deringer * * * * *.. *. Gleiss Lutz *... Jones Day... Clifford Chance * * * Allen & Overy *.. *. Latham & Watkins * *.. * P+P Pollath + Partners * *.. * Linklaters * *.. * Dentons * *.. *. * *.. *. McDermott Will & Emery * * * Orrick Herrington & Sutcliffe LLP * *. * Rodl Global Rechtsanwaltsgesellschaft mbh * * Milbank Tweed Hadley & McCloy * *.. * Ashurst * * Paul Hastings LLP * * * *.. * * Loyens & Loeff * * * Roedl und Partner * * * Tozzini Freire Teixeira e Silva * *.. *. Mayer Brown LLP * * * Eversheds * * * King & Wood Mallesons * *.. *. Bird & Bird * * * Norton Rose Fulbright * * * Herbert Smith Freehills * * * Shearman & Sterling LLP * * * Reed Smith LLP * * * Schoenherr Attorney's at Law * *. * Morrison & Foerster * * * Mannheimer Swartling Advokatbyra * * Skadden * * Cuatrecasas Goncalves Pereira * * * PwC Legal LLP * * * Bryan Cave LLP * * * Ellex * * Debevoise & Plimpton * *,,.,.. *tie $. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m German SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

11 First Half SmallCap M&A Up To US$m Italian Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Italian SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) NCTM... Gianni Origoni Grippo Cappelli & Partners... Studio Pedersoli e Associati *... * *... Chiomenti Studio Legal *... *.. * Gattai Minoli Agostinelli & Partners Orrick Herrington & Sutcliffe LLP * *.... Bonelli Erede e Pappalardo * *... Linklaters * *.. Paul Hastings LLP * * * *. *. Legance Studio Legale Associato * *.. Clifford Chance * * * Pirola, Pennuto, Zei & Associati * *... Jones Day * *.. Freshfields Bruckhaus Deringer *. * d'urso Gatti e Associati Norton Rose Fulbright * * *.... CMS * *.. Osborne Clarke * * * Homburger *.. * King & Wood Mallesons * *.. Gitti Raynaud & Partners * * * * * Eversheds ORSINGHER ORTU Avvocati Associati * * * * * * Allen & Overy * * Skadden * * *,.,.. $. $. $. $. $. $. $. $. $. $. $ Italian SmallCap M&A up to US$m by Target Industry.% US$ m US$ m US$ m US$ m US$ m.%.%.% Jan Jun.%.%.%.%.%.%

12 First Half SmallCap M&A Up To US$m Spanish Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Spanish SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) Cuatrecasas Goncalves Pereira... PwC Legal LLP... Clifford Chance *.. Uria Menendez... CMS * *.. *. Perez Llorca *.. *. Deloitte *.. *. Garrigues... *... Jones Day * *.. *. King & Wood Mallesons * *. *. Latham & Watkins * * * * *. * Allen & Overy *.. * Linklaters * * * Herbert Smith Freehills * *.. * * * * Freshfields Bruckhaus Deringer * *. *. Ashurst * * * Rousaud Costas Duran SLP *. *. Gomez Acebo & Pombo * *.. *. De Pardieu Brocas Maffei * * Norton Rose Fulbright * *.. * Squire Patton Boggs LLP * *.. * Machado Meyer Sendacz & Opice * * * Orrick Herrington & Sutcliffe LLP * * Chiomenti Studio Legal * *,.,.. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Spanish SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.% *tie.%.%.%.%.%.%

13 First Half SmallCap M&A Up To US$m Nordic Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Nordic SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) Castren & Snellman Mannheimer Swartling Advokatbyra *.... Kromann Reumert *... Advokatfirman Vinge *... Borenius Ltd *... Advokatfirmaet Thommessen AS * *.. * *... Wikborg Rein & Co * *... Advokatfirman Delphi * *... Roschier *... CMS * *... * *... Gorrissen & Federspiel * * * Ellex * *.. Allen & Overy * *.. Bird & Bird *... Hannes Snellman... SORAINEN *... * *... Dentons * *.. * Latham & Watkins * *.. * Heuking Kuehn Lueer Wojtek * * Accura Advokataktieselskab * * * Orrick Herrington & Sutcliffe LLP * * Hengeler Mueller * * * Clifford Chance * * * Dittmar & Indrenius * * * Linklaters * * * * *.. Krogerus Attorneys Ltd * * * Advokatfirmaet Wiersholm AS * *.. Norton Rose Fulbright * * * Cobalt * *... Kirkland & Ellis * * * Eversheds * *.. Weil Gotshal & Manges * * Ashurst * * * Freshfields Bruckhaus Deringer * * * Gernandt & Danielsson * *... Loyens & Loeff * * * Setterwalls *.. Jones Day * * * Plesner * * * Lamartine Conseil * * Advokatfirman Cederquist * * * BechBruun * * PwC Legal LLP * *.. Selmer * * * Simpson Thacher & Bartlett * * Lindahl Associates, P.C. (CO) *..,.,.. $. $. $. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Nordic SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

14 First Half SmallCap M&A Up To US$m Benelux Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Benelux SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) Allen & Overy... Loyens & Loeff * *... CMS... Stibbe... Jones Day * * * * * Houthoff Buruma * * Freshfields Bruckhaus Deringer * *... Linklaters * *... *... Eversheds * * * Dentons *.. Clifford Chance * NautaDutilh * *. Mayer Brown LLP * * * * *.. * King & Wood Mallesons * * * Norton Rose Fulbright *.. *. Weil Gotshal & Manges * * * Skadden * * * Cleary Gottlieb Steen & Hamilton * * * Hengeler Mueller * * * Bird & Bird Perez Llorca * * *.... * Van Doorne *.. NCTM * * * Souza, Cescon, Barrieu & Flesch Advogados *.. *. Paul Hastings LLP * * * Dvan * *,.,.. $. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Benelux SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%.%

15 First Half SmallCap M&A Up To US$m Eastern Europe Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Eastern European SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Euro mil Rank Val Chg (%) Ellex *.. Havel Holasek & Partners sro... Allen & Overy *... CMS... SORAINEN *... *... Cobalt *... Schoenherr Attorney's at Law *... Dentons *..... Weil Gotshal & Manges *.. *. Linklaters * *.. * *... Noerr LLP *.. Balcioglu & Selcuk * *.. Herbert Smith Freehills * *... Orrick Herrington & Sutcliffe LLP * * * Clifford Chance * * * * * Eversheds * * * Kinstellar * * Freshfields Bruckhaus Deringer * * * Norton Rose Fulbright * *.. Gide Loyrette Nouel * * * Mannheimer Swartling Advokatbyra * * Nishimura & Asahi * * Alrud * * Cassels Brock & Blackwell LLP *.. Gleiss Lutz * * * Advokatfirman Glimstedt *.. Morgan Lewis & Bockius * * * Squire Patton Boggs LLP * * * Kirkland & Ellis * * Skadden * * *,,.,.. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Eastern European SmallCap M&A up to US$m by Target Industry.%.%.%.%.%.%.%.%,,, () Jan Jun.%.%.%.%

16 First Half SmallCap M&A Up To US$m Hochinma Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Hochinma SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) King & Wood Mallesons.. AZB & Partners.. Khaitan & Co J Sagar Associates.... Fangda Partners Shardul Amarchand Mangaldas & Co *.... Commerce & Finance Law Offices * *.. Zhong Lun Law Firm *.. Herbert Smith Freehills *.. Bathiya Legal * *.. Trilegal * *. AnJie Law Firm *.. Norton Rose Fulbright * *.. BMR Legal * *.. * *.. Orrick Herrington & Sutcliffe LLP * *. Jia Yuan Law Offices * *. * *. Ashurst * *. *. Allen & Overy * * * Beijing Kangda Law Firm * *.. * *.. Grandway Law Offices *. Dentons *.. Grandall Law Firm * *. Clifford Chance * * * Linklaters * *.. Shearman & Sterling LLP * * * Jones Day * *.. Economic Laws Practice * *.. Allen & Gledhill * *. *. * *. Haiwen & Partners * *.. Latham & Watkins * *. * CMS * *.. Tian Yuan Law Firm * *.. Luthra & Luthra Law Offices * *. China Commercial Law Co * *. *. Skadden * * * Paul Hastings LLP *. Paul, Weiss * * Weil Gotshal & Manges *. * Rajah & Tann LLP *.. Anderson Mori & Tomotsune * *.. Davis Polk & Wardwell * *.. Mayer Brown LLP * * * Cuatrecasas Goncalves Pereira * * * Noerr LLP * *. Morgan Lewis & Bockius * * Cyril Amarchand Mangaldas * *. * Lee and Li * *. *.,,.. $ $ $ $ $ $ $ $,, $ $ $ US$ m US$ m US$ m US$ m US$ m Hochinma SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%,,

17 First Half SmallCap M&A Up To US$m Hong Kong Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Hong Kong SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) Linklaters * *. *. * *.. Fangda Partners * *.. Herbert Smith Freehills * *. Shearman & Sterling LLP * * * Ashurst * * * Davis Polk & Wardwell *. * Allen & Gledhill *. * *. *. China Commercial Law Co *. Paul Hastings LLP *. AnJie Law Firm *. Commerce & Finance Law Offices * *. *,.. $. $. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Hong Kong SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

18 First Half SmallCap M&A Up To US$m Australia/New Zealand Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Australia/New Zealand SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) King & Wood Mallesons *.. Herbert Smith Freehills *.. Norton Rose Fulbright.. HWL Ebsworth Lawyers *.. Allens *.. Ashurst.. Minter Ellison *.... *.. Jones Day * *.. K&L Gates * *.. Talbot Sayer Lawyers *.. Simpson Grierson * * Chapman Tripp *.. Thomson Geer * *.. Gilbert + Tobin *.. Kain C+C Lawyers Pty Ltd *. Clifford Chance * * Bell Gully *. * *. * Allen & Overy * * Simpson Thacher & Bartlett * * Stikeman Elliott * *.. J Sagar Associates *. Freshfields Bruckhaus Deringer *. China Commercial Law Co *. Bryan Cave LLP * * * Clayton Utz * *. Dentons * * * Corrs Chambers Westgarth * * Johnson Winter & Slattery *.. Orrick Herrington & Sutcliffe LLP *. McCullough Robertson * * *,.. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Australia/New Zealand SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

19 First Half SmallCap M&A Up To US$m Singapore Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Singapore SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) Allen & Gledhill.. * WongPartnership LLP Rajah & Tann LLP * *.... Jones Day * *.. Morgan Lewis & Bockius * *.. * *.. Shook Lin & Bok LLP * *.. Mori Hamada & Matsumoto * *.. J Sagar Associates *. Dentons * * Allen & Overy * * * Latham & Watkins * * Khaitan & Co * * * Trilegal * * Simmons & Simmons * * * Wikborg Rein & Co * *. Ashurst * * * Kim & Chang *. Nishimura & Asahi * * * *. *. Mayer Brown LLP * * Herbert Smith Freehills * * * Orrick Herrington & Sutcliffe LLP *. AZB & Partners * *. *.,.. $. $. $. $. $. $. $. $. $ US$ m US$ m US$ m US$ m US$ m Singapore SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

20 First Half SmallCap M&A Up To US$m Japanese Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Japanese SmallCap M&A up to US$m by Rank Value Range per Advisor Rank Rank # of Deals RankValue US$m Rank YoY Rank Val Chg (%) Mori Hamada & Matsumoto.. Nishimura & Asahi.. Anderson Mori & Tomotsune.. Nagashima Ohno & Tsunematsu Allen & Overy * *..... Morrison & Foerster * *.. * * * TMI Associates * *. Jones Day * *.. Kim & Chang * *. Simpson Thacher & Bartlett * * Freshfields Bruckhaus Deringer * * * HibiyaNakata * *.. Morgan Lewis & Bockius * * Latham & Watkins OhEbashi LPC & Partners * * *.. *. * * Gleiss Lutz * *.. Norton Rose Fulbright * *. * Herbert Smith Freehills * * * Utsunomiya & Shimizu *. * * Ashurst * *. City Yuwa Partners * *.. Fenwick & West LLP * * * Lee & Ko * *.. Khaitan & Co * *. *. Eversheds * * O'Melveny & Myers * *. Orrick Herrington & Sutcliffe LLP * * * CMS * * * Hengeler Mueller * * Abe, Ikubo & Katayama * *. Shearman & Sterling LLP * * * Fidal * * Kitahama Partners * *.. Dorsey & Whitney LLP * * * Noerr LLP * * Dentons * * * Minato International Group PLC *. Souza, Cescon, Barrieu & Flesch Advogados *. Gattai Minoli Agostinelli & Partners * * Gide Loyrette Nouel * *. * Minter Ellison * *. Miller Thomson * *,,.. $ $ $ $ $ US$ m US$ m US$ m US$ m US$ m Total Japanese SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

21 First Half SmallCap M&A Up To US$m Chinese Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Chinese SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) King & Wood Mallesons *.. Fangda Partners.. Commerce & Finance Law Offices *.. Zhong Lun Law Firm. Jia Yuan Law Offices * *. AnJie Law Firm *. Orrick Herrington & Sutcliffe LLP * *.. Norton Rose Fulbright *.. Beijing Kangda Law Firm * *.. Ashurst *. * Herbert Smith Freehills * *.. Allen & Overy * * * Grandway Law Offices *.. Grandall Law Firm * *.. * *.. Haiwen & Partners * *. Clifford Chance * * * CMS * *. Tian Yuan Law Firm * *.. Jones Day * *.. China Commercial Law Co * *. *. Dentons *. * Davis Polk & Wardwell * *.. * * * Weil Gotshal & Manges *. * Bae Kim & Lee * *.. Jingtian & Gongcheng * *.. Dacheng Law Offices * *.. Mayer Brown LLP * * * Noerr LLP * *. * *.. Skadden * * * Squire Patton Boggs LLP * *.. JunHe LLP * *.. Lee and Li * * Paul, Weiss * *,,.. $ $ $ $ $ $ $ $ $ US$ m US$ m US$ m US$ m US$ m Chinese SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%,,,,.%.%.%.%

22 First Half SmallCap M&A Up To US$m Indian Involvement SmallCap Rankings (MML) MMLa Undisclosed Values & Values up to US$m Jan Jun Indian SmallCap M&A up to US$m by Rank Value Range per Advisor # of RankValue YoY Rank US$m Rank Val Chg (%) AZB & Partners.. Khaitan & Co.. J Sagar Associates.. Shardul Amarchand Mangaldas & Co *.. Bathiya Legal * *.. Trilegal * *.. BMR Legal.. Economic Laws Practice *.. Shearman & Sterling LLP * * Luthra & Luthra Law Offices *.. Cyril Amarchand Mangaldas * *. *. Latham & Watkins * * * * Cuatrecasas Goncalves Pereira * * * HSA Advocates *. Dechert * * * DSK Legal Allen & Gledhill * * * *.... Paul Hastings LLP * * Morgan Lewis & Bockius * * Norton Rose Fulbright * * Herbert Smith Freehills * * * Majmudar & Partners * *. Clove Legal * * * Paul, Weiss * * Eversheds *. Greenberg Traurig * *,. $ $ $ $ $ $ $ $ $ US$ m US$ m US$ m US$ m US$ m Indian SmallCap M&A up to US$m by Target Industry Jan Jun.%.%.%.%.%.%.%.%.%.%.%

23 First Half SmallCap M&A Up To US$m Ranking Criteria Summary If you would like to participate in the submission process, receive quarterly press releases, or have questions about league table criteria please contact: Announced league tables include all deals that were announced between January, and June, and of which Thomson Reuters was made aware. All current data and previous year's data is as of :pm EST on July,. League tables include rank eligible mergers, acquisitions, repurchases, spinoffs, selftenders, minority stake purchases and debt restructurings. Americas Robert Levine Tel: + robert.levine@thomsonreuters.com Europe, Middle East & Africa Ewelina Jarecka Tel: + () ewelina.jarecka@thomsonreuters.com AsiaPacific Kai Soriano Tel: + kai.sorianostacruz@thomsonreuters.com 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. Deals with undisclosed dollar values are rank eligible but with no corresponding Rank Value. NonUS dollar denominated transactions are converted to the US dollar equivalent at the time of announcement of terms. 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 portion of 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 for the transaction agreed to or, in the absence of an agreement, the value of the highest offer. Japan 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. Kaori Motohashi (Ishida) Tel: + kaori.motohashi@thomsonreuters.com League tables, commentary, and charts citing announced activity are based on Rank Date and include intended, pending, partially complete, completed, pending regulatory, and unconditional transactions. Rank Date is defined as the earliest public announcement of when a value can be applied to a transaction. 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 for any 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 to the 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 transaction or 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 or selling 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. 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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