III - Mergers

FINANCIAL SERVICES INDUSTRY

NUMBER AND VALUE OF ANNOUNCED FINANCIAL SERVICES
MERGERS AND ACQUISITIONS BY SECTOR, 2002-2006 (1)

($ billions)

	2002		2003		2004		2005		2006
	Deals	Value	Deals	Value	Deals	Value	Deals	Value	Deals	Value
Securities (2)	174	$8.3	136	$12.8	137	$6.1	159	$20.2	179	$45.7
Specialty finance (3)	114	24.9	87	19.9	144	18.8	111	58.7	140	22.0
Banks	180	8.6	221	63.8	225	118.0	239	19.5	255	77.6
Thrifts	52	9.0	49	8.7	57	13.6	35	9.8	46	31.2
Insurance	281	9.2	286	60.0	306	14.3	296	49.8	317	23.6
Life/health	20	2.7	28	14.1	24	3.5	24	21.9	27	5.8
Property/casualty	44	0.4	50	22.9	24	0.6	53	10.8	60	14.9
Brokers and agents	204	1.3	198	1.2	241	1.4	206	1.6	218	2.0
Managed care	13	4.8	10	21.8	17	8.8	13	15.5	12	0.9
Total	801	$60.0	779	$165.2	869	$170.8	840	$158.0	937	$200.1
(1) Does not include terminated deals. (2) Includes securities and investment companies, broker/dealers and asset managers. (3) Specialty finance firms range from small finance companies to major credit card operations. Includes terminated deals. Asset deals are not included. Source: SNL Financial LC.

NUMBER OF ANNOUNCED FINANCIAL SERVICES
MERGERS AND ACQUISITIONS, 2002-2006

Source: SNL Financial LC.

TOP TEN FINANCIAL SERVICES ACQUISITIONS ANNOUNCED IN 2006, UNITED STATES (1)

($ millions)

Rank	Buyer	Industry	Country	Target	Industry	Country	Deal value (2)
1	Wachovia Corp.	Bank	U.S.	Golden West Financial	Thrift	U.S.	$25,473.8
2	Bank of New York Co.	Bank	U.S.	Mellon Financial Corp.	Bank	U.S.	16,864.4
3	Capital One Financial Corp.	Credit card	U.S.	North Fork Bancorp.	Bank	U.S.	14,567.9
4	Chicago Mercantile Exchange	Broker/dealer	U.S.	CBOT Holdings Inc.	Broker/dealer	U.S.	11,054.8
5	Regions Financial Corp.	Bank	U.S.	AmSouth Bancorp.	Bank	U.S.	10,060.3
6	NYSE Euronext	Broker/dealer	U.S.	Euronext N.V.	Broker/dealer	Netherlands	9,769.2
7	BlackRock, Inc.	Asset manager	U.S.	Merrill Lynch Investment Mgrs.	Asset manager	U.S.	9,487.4
8	Investor group	Not classified	U.S.	General Motors Acceptance Corp.	Diversified lender	U.S.	7,353.0
9	PNC Financial Services Group	Bank	U.S.	Mercantile Bankshares Corp.	Bank	U.S.	6,027.1
10	Huntington Bancshares Inc.	Bank	U.S.	Sky Financial Group Inc.	Bank	U.S.	3,592.1
(1) Includes transactions where the target was either a bank, thrift, insurance company, asset manager, broker/dealer or specialty lender and either the buyer or seller was domestic to the U.S. and that was announced in 2006. (2) At announcement. Source: SNL Financial LC.