Aetna

:

Coventry Health Care

Dealogic Deal #  :

824611

Data as of :

9/26/2012

Target

Acquiror

Dates & Values

Coventry Health Care

Aetna

Target:

100

% stake

Buying:

100

% stake

Rumored

-

Deal Value $m

5,726.4

NY

CVH

134

m shares outstanding

Public (Listed)

Announced

20th Aug 2012

Value ex Debt $m

5,726.4

United States

United States

Healthcare

Insurance

Expected

2Q 2013

Consideration

Greenhill & Co | Advisor

Goldman Sachs | Advisor

Completed

-

Bass Berry & Sims | Attorney

UBS | Advisor

Crowell & Moring | Attorney

Davis Polk & Wardwell | Attorney

Withdrawn

-

Wachtell Lipton Rosen & Katz | Attorney

Jones Day | Attorney

Termination Fee, Target $m

tbd

Termination Fee, Acquiror $m

tbd

Financials

30th Jun 2012

Balance Sheet

Debt/Equity:

1

Timeline Events

Premiums & Multiples

Initial Offer

$42

Current Offer

$42

Income Statement

Cash Flows

Operations $m

696

Profitability

Profit Margin

6%

Return on Equity

10%

League Table Impact

Sector Trend

2012 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Healthcare

1

Goldman Sachs

361.7

2

JPMorgan

323.8

3

Morgan Stanley

307.5

4

Deutsche Bank

259.5

5

Credit Suisse

253.3

6

Barclays

246.0

7

Citi

243.6

8

BAML

202.4

9

Rothschild

127.5

10

Nomura

117.4

12

UBS

107.4

20

Greenhill & Co

30.8

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