SAP

:

Sybase

Dealogic Deal #  :

683840

Data as of :

5/13/2010

Target

Acquiror

Dates & Values

Sybase

SAP

Target:

100

% stake

Buying:

100

% stake

Rumored

12th May 2010

Deal Value $m

7,111.3

NY

SY

87

m shares outstanding

Public (Listed)

Announced

12th May 2010

Value ex Debt $m

7,111.3

United States

Germany

Technology

Technology

Expected

3Q 2010

Consideration

BOA Merrill Lynch | Advisor

Deutsche Bank | Advisor

Completed

-

Shearman & Sterling | Attorney

Barclays Capital | Advisor

Jones Day | Attorney

Withdrawn

-

Termination Fee, Target $m

tbd

Timeline Events

Termination Fee, Acquiror $m

tbd

Financials

31st Mar 2010

Balance Sheet

Debt/Equity:

0.2

Premiums & Multiples

Initial Offer

$65.00

Current Offer

$65.00

Income Statement

Cash Flows

Operations $m

384

Profitability

Profit Margin

22%

Return on Equity

8%

League Table Impact

Sector Trend

2010 YTD Announced Global M&A by Deal Value, $bn

Monthly Announced Global M&A, $bn:

Technology

1

Goldman Sachs

221.4

2

Credit Suisse

209.7

3

JPMorgan

157.0

4

Citi

149.5

5

Morgan Stanley

149.1

6

Deutsche Bank

139.9

7

Lazard

122.5

8

Barclays Capital

112.7

9

BOA Merrill Lynch

107.4

10

UBS

76.4

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