US Looks Set for M&A Recovery; Promising Conditions for Upturn in M&A Activity According to Figures from Zephyr.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 15, 2003 US deal numbers and deal values for quarter three are the highest since January January: see month. 2002. Figures to be released next week show deal numbers are over 13.5 percent higher than in quarter two and deal values - which reached an encouraging $323 billion - are over 36.6% percent higher. Further evidence of a recovery is that eight out of the quarter's top ten deals globally took place in the US. The research is based on figures from ZEPHYR Zephyr or Zephyrus: see Eos. , an M&A information source and will be included in the latest edition of the M&A Synopsis A summary; a brief statement, less than the whole. A synopsis is a condensation of something—for example, a synopsis of a trial record. , produced quarterly by Zephus and Bureau van Dijk van Dijk can refer to:
"This may be a 'false dawn' but with global deal numbers steadily increasing I have been cautiously optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op over the last six months that it's it's 1. Contraction of it is. 2. Contraction of it has. See Usage Note at its. it's it is or it has it's be ~have only a matter of time before we see a return of the 'megadeals'," said Ed Mountifield, the author of the M&A Synopsis and head of research at Zephus, adding, "I believe we could be seeing the first genuine indicators that the heavy weight US economy could be making a quicker recovery than expected. And we could see a distinct surge in deal activity in 2004." The next M&A Synopsis will be published on 22 October. It can be downloaded free of charge from www.zephyr.bvdep.com. ZEPHYR is available for free trials by calling 888-797-3550 or visiting www.bvdep.com.
US targets
Time No of No of deals with Total deal value
period deals known values (mil USD)
Q1 2002 1,880 1,065 210,320
Q2 2002 2,150 1,233 231,452
Q3 2002 1,826 1,018 222,216
Q4 2002 1,772 905 204,605
Q1 2003 2,329 1,337 199,848
Q2 2003 2,550 1,475 248,203
Q3 2003 2,894 1,884 339,116
Total 15,401 8,917 1,655,760
Announced, pending or completed. Source: Bureau van Dijk: ZEPHYR
Top 10 announced deals Q3 2003
Date Target name Target Deal value Acquirer name
announced country (mil USD)
18 July SLM Corporation US 20,000 Institutional
investors
02 September Vivendi Universal US 14,000 NBC Inc.
SA's entertainment
assets
23 September Cisco Systems Inc. US 13,000 Cisco Systems
Inc.
28 September John Hancock US 10,352 Manulife
Financial Services Financial
Inc Corporation
23 September Verizon US 10,000 Institutional
Communications investors
Inc.
04 July QVC Inc. US 7,900 Liberty Media
Corporation
01 September Orange SA France 7,800 France Telecom
SA
09 September Bank Central Indonesia 6,102 Institutional
Asia, PT investors
02 September AdvancePCS Inc. US 6,000 Caremark Rx Inc.
06 August Transamerica US 4,800 GE Commercial
Financial Finance
Corporation's
commercial lending
business
Source: Bureau van Dijk - ZEPHYR
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