| 1. |
Yahoo! Inc. |
Overture Services Inc. |
$1.6 billion; Pay-for-performance search engine that enables companies to bid on advertising placement |
| 2. |
Thomas H. Lee Partners (THLP) |
Evercore Capital Partners |
$1.5 billion recapitalization of American Media, Inc. (AMI); Following the transaction, Evercore and THLP will jointly control AMI with each providing one-half of the $508MM in total equity of the recapitalization; Publisher of Star and National Enquirer; AMI Rev. $527MM and adjusted EBITDA $180MM |
| 3. |
Cinven and Candover Investments Plc. (U.K.) |
Bertelsmann AG |
$1.21 billion for BertelsmannSpringer; Business and scientific publisher; Deal est. at 10 times earnings |
| 4. |
DLJ Merchant Banking Partners |
Jostens, Inc. |
$1.1 billion; School yearbook publisher and ring maker; Rev. $756MM, op. inc. $131.8MM |
| 5. |
AOL Time Warner |
Vivendi Universal |
$812.5MM for the remaining 55% stake in AOL Europe |
| 6. |
John Fairfax Holdings Ltd. (Australia) |
News Corp. |
$700MM for News Corp.’s New Zealand group; Publisher of magazines and newspapers |
| 7. |
Hellman & Friedman LLC |
Right Management Consultants Inc. |
$500MM; Employment services for senior and mid-level managers and executives; Rev. $482.4MM, EBITDA $96.3MM |
| 8. |
Hellman & Friedman LLC |
Deutsche Bank AG (Germany) |
$433.9MM for a 20% stake in Axel Springer AG, with options to purchase an additional 10%; Magazine and newspaper publisher; Rev. $2.9 billion |
| 9. |
Charles Schwab Corp. |
SoundView Technology Group Inc. |
$345MM; Financial research as well as a trading platform and related software; Rev. $79MM |
| 10. |
DeVry Inc. |
Leeds, Weld & Co. and J.W. Childs Associates |
$310MM for Ross University; Medical and veterinary school in the Caribbean; Rev.$62MM, EBITDA $25MM |
