Crains New York - February 11, 2013 - (Page 16)

THE LIST NY Area’s Largest Mergers and Acquisitions Deals announced in 2012, ranked by value Deal value, in millions Primary industry of target business $10,838.4 Specialized finance Rank Target Buyers/investors Date announced Date closed 1 2 NYSE Euronext Inc. Manhattan IntercontinentalExchange Inc. Atlanta 12/20 Pending EP Energy Houston Apollo Global Management, Access Industries Inc. , Riverstone Holdings1 Manhattan $8,187.0 Oil and gas exploration and production 2/24 5/24 3 4 5 6 7 8 Amylin Pharmaceuticals Inc. San Diego Bristol-Myers Squibb Co. Manhattan $6,942.4 Biotechnology 6/29 8/7 Lehman Brothers Holdings Inc. Manhattan Not disclosed (unknown minority stake) $6,400.0 Investment banking and brokerage 4/7 Pending Warnaco Group Inc. Manhattan PVH Corp. Manhattan $3,959.2 Apparel, accessories and luxury goods 10/29 Pending Hudson City Bancorp Inc. Paramus, NJ M&T Bank Corp. Buffalo, NY $3,810.8 Thrifts and mortgage finance 8/27 Pending Cheniere Energy Partners Houston The Blackstone Group’s private-equity group2 Manhattan $3,400.0 Oil and gas storage and transportation 2/25 Pending TransUnion Corp. Chicago Advent International Corp., Goldman Sachs Group’s merchant banking division Manhattan $3,310.4 Research and consulting services 2/17 4/30 9 Kinder Morgan Inc., Trailblazer Pipeline Co. 3 Various locations, United States Kelso & Co.4 Manhattan $3,300.0 Oil and gas storage and transportation 3/15 11/13 10 11 CVR Energy Inc. Sugar Land, TX Icahn Enterprises Holdings (69.25%) Manhattan $3,230.9 Oil and gas refining and marketing 2/16 5/18 Yankees Entertainment & Sports Network Manhattan News Corp. (49%) Manhattan $3,000.0 Broadcasting 11/20 11/30 12 13 14 American Realty Capital Trust Inc. Manhattan Realty Income Corp. Escondido, CA $2,916.4 Diversified REITs 9/6 Pending McGraw-Hill Education Inc. Manhattan Apollo Global Management Manhattan $2,747.0 Publishing 11/26 Pending Party City Holdings Inc. Elmsford, NY Thomas H. Lee Partners (unknown majority stake) Boston $2,690.0 Specialty stores 6/4 7/27 15 Affinity Water Ltd. (90%) Hatfield, England M&G Investment Management Ltd., Morgan Stanley Infrastructure Inc. Manhattan $2,640.7 Water utilities 6/28 6/28 16 17 18 19 20 21 21 23 24 25 26 27 28 29 30 Inhibitex Inc. Alpharetta, GA Bristol-Myers Squibb Co. Manhattan $2,579.0 Biotechnology 1/7 2/10 Jefferies Group Inc. Manhattan Leucadia National Corp. (remaining 71.44%) Manhattan $2,562.5 Investment banking and brokerage 11/11 Pending AboveNet Inc. White Plains, NY Zayo Group Louisville, CO $2,333.1 Alternative carriers 3/18 7/2 USI Holdings Corp. Briarcliff Manor, NY Onex Corp. (unknown majority stake) Toronto $2,300.0 Property and casualty insurance 11/25 12/27 Los Angeles Dodgers Inc. Los Angeles Guggenheim Partners, individual investors Manhattan $2,002.0 Sports and entertainment 3/26 4/30 Access Midstream Partners Oklahoma City Global Infrastructure Partners (42.72%) Manhattan $2,000.0 Oil and gas storage and transportation 5/29 6/29 Vivint Inc. Provo, UT The Blackstone Group’s private-equity group Manhattan $2,000.0 Consumer electronics 9/19 11/19 Veolia ES Solid Waste Inc. Milwaukee Highstar Capital Manhattan $1,909.0 Environmental and facilities services 7/18 11/20 IBL Limited Inc. and Studio 6 Various locations, United States Blackstone Real Estate Advisors Manhattan $1,900.0 Hotels, resorts and cruise lines 5/22 10/2 Formula One Administration Ltd. (21%) London, England BlackRock Inc.5 Manhattan $1,600.0 Sports and entertainment 5/22 5/22 Archstone-Smith Trust Englewood, CO Lehman Brothers Holdings Inc. (remaining 26.5%) Manhattan $1,580.0 Residential REITs 5/24 6/6 Comverse Technology Inc. Manhattan Verint Systems Inc. Melville, NY $1,540.0 Application software 8/12 Pending Fougera Pharmaceuticals Inc. Melville, NY Sandoz Inc. Princeton, NJ $1,525.0 Pharmaceuticals 5/2 7/23 CH Energy Group Inc. Poughkeepsie, NY Fortis Inc. St. John’s, Newfoundland and Labrador $1,500.4 Energy delivery 2/20 Pending Kenexa Corp. Wayne, PA IBM Armonk, NY $1,396.8 Application software 8/25 12/4 Source: S&P Capital IQ, (212) 438-8701, www.capitaliq.com; additional research by Suzanne Panara and Emily Laermer New York area includes New York City and Nassau, Suffolk and Westchester counties. List includes announced transactions for which terms were disclosed and that were not canceled and in which a buyer or target was based in the New York area. Includes private-equity deals. Data on announced deals are as of Jan. 29, 2013. In case deal value is tied, companies are listed alphabetically. 1-Additional parties: Korea National Oil Corp. 2-Additional parties: Cheniere Energy Inc., Cheniere LNG Terminals Inc. 3-Additional parties: Casper-Douglas, 50% interest in the Rockies Express Pipeline. 4-Additional parties: Magnetar Capital, the Energy & Minerals Group, individual investors. 5-Additional parties: Norges Bank Investment Management, Waddell & Reed Financial Inc. CHECK OUT NYC’S LARGEST TECH M&A DEALS AT WWW.CRAINSNEWYORK.COM/MULTIMEDIA/GALLERIES. 16 | Crain’s New York Business | February 11, 2013 THE SCOOP U ncertainty in the global marketplace caused turbulence in the local mergers and acquisitions world last year. New York City buyers and targets saw just 2,037 deals, down 9.1% from 2011, according to research provided to Crain’s by S&P Capital IQ. The largest local acquisition was that of NYSE Euronext, an international operator of financial markets and provider of trading technology, by global markets operator IntercontinentalExchange in a deal valued at $10.8 billion. The transaction will be completed in the second half of this year. In 2011, however, the largest local deal was for more than triple that value, at $33.6 billion. “In addition to the presidential election and the eurozone crisis, the debt ceiling was a tremendous reason for M&A to be depressed at the large-cap level,” said Amanda Levin, who edits coverage of the Americas for Mergermarket, a publication of Mergermarket Group, a global research firm that tracks mergers and acquisitions. Middle-market companies, or those worth between $100 million and $1 billion, were not hit as hard, Ms. Levin added. Seven of the deals on Crain’s list were in financial services, a sector that saw the statewide number grow by 19%, to 50, and value grow by 172%, to $24.7 billion, in 2012, according to Mergermarket. “There are a lot of regulations going into effect this year, so I think because of that, we are seeing quite a bit of activity in the financialservices sector,” said Ms. Levin. “It definitely started a bit last year and will continue into this year as well.” Consumer goods—which include apparel, specialty stores and movies—also fared well in 2012, mostly because confidence is on the rise, said Martyn Curragh, U.S. transaction services leader at PricewaterhouseCoopers. Eight of the top 30 deals in New York City fell into this category; statewide, the value of consumer deals grew nearly sevenfold, to $7.8 billion. The largest local acquisition among consumer-goods firms was the purchase of apparel firm Warnaco Group Inc. by fashion company PVH Corp. (No. 5) in a deal valued at $4 billion. Experts are optimistic about 2013. One bright sign was the 154% quarter-over-quarter uptick in New York state deal value in the last three months of 2012. Already this year, there have been several local multibillion-dollar acquisitions announced, like the $1 billion purchase of Harry Winston’s luxury jewelry business by Swatch Group. Sectors expected to grow in 2013 include oil and gas, financial services and health care. —emily laermer http://www.capitaliq.com http://WWW.CRAINSNEWYORK.COM/MULTIMEDIA/GALLERIES

Table of Contents for the Digital Edition of Crains New York - February 11, 2013

IN THE BOROUGHS
IN THE MARKETS
THE INSIDER
BUSINESS PEOPLE
CORPORATE LADDER
OPINION
GREG DAVID
REPORT: SMALL BUSINESS
THE LIST
CLASSIFIEDS
DIGITAL NY
FOR THE RECORD
NEW YORK, NEW YORK
SOURCE LUNCH
OUT AND ABOUT
SNAPS

Crains New York - February 11, 2013