The five largest recent transactions, all worth at least $500 million, involving targets or acquirors from each of six
European jurisdictions or regions: Germany, France, the United Kingdom, Italy, Spain, and the Nordic countries. All
deals were announced between April 1, 2011, and October 1, 2011. Deals that were pending at press time are starred(*).
Research by mergermarket and Rebecca Geiger.
GERMANY Target: MAN SE (26% stake) Counsel: Hengeler Mueller; Milbank, Tweed,
Hadley & McCloy
Counsel for financial advisers Barclays Capital and Goldman,
Sachs & Co.: Sullivan & Cromwell
Sellers: MAN SE shareholders
Bidder: Volkswagen AG
Counsel: Clifford Chance; Freshfields Bruckhaus Deringer;
Linklaters; Stikeman Elliott
Counsel for VW advisory board: White & Case
Counsel for financial adviser Rothschild: Allen & Overy
Counsel for financial adviser Credit Suisse: Latham & Watkins
Value: $12.6 billion
Target: DekaBank Deutsche Girozentrale (50% stake)
Counsel: Linklaters
Seller: GLB GmbH & co OHG
Counsel: CMS; Freshfields Bruckhaus Deringer
Bidder: S-Finanzgruppe (Deutscher Sparkassen- und Giroverband
ö. K.)
Counsel: Salans
Value: $1.8 billion
Target: Amprion GmbH ( 74.9% stake)
Seller: RWE AG
Counsel: Hengeler Mueller
Bidder: Consortium led by Commerz Real AG
Counsel: Clifford Chance
Value: $1.8 billion
Target: Liberty Dialysis Holdings, Inc.*
Counsel: Linklaters
Bidder: Vivendi SA
Counsel: Allen & Overy; Bird & Bird
Value: $11.3 billion
Target: Parmalat S.p.A. ( 71.03% stake)
