REMINDER The audience will be in listen-only mode. Listeners can e-mail questions to the panel via...

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Listeners can e-mail questions to the panel via the Q&A

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The audience is encouraged to answer several multiple-choice poll questions throughout the program.

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welcome you to our webcast: Navigating Through Middle

Market Dealflow in Uncertain Times

Introduction

Moderator:

John Blakeleymidmarket editorThe Deal LLC

Expert Panel

Alison ResslerpartnerSullivan & Cromwell LLP

Expert Panel

Robert Fileksenior managing director FTI Consulting

Expert Panel

Michael Frankelboard director Onvia Inc.

Expert Panel

Tyler Zachemmanaging director MidOcean Partners LP

Current M&A midmarket atmosphere

AUDIENCE POLL

1) With whom does the balance of power reside in the current middle-market M&A environment?

A) BuyersB) SellersC) Equal strength

Financing: What is the bank lending market like for midmarket deals?

Factors impacting the current direction of M&A in the middle

market

AUDIENCE POLL

2) Which industry will experience the highest level of midmarket M&A activity over the next 12-18 months?

A) DefenseB) EnergyC) Financial servicesD) HealthcareE) Media and communicationsF) Retail and consumerG) TechnologyH) Other

Sectors that are seeing M&A activity in the middle market

Strategics vs. private equity: Who has the edge in making midmarket deals

today?

Impact of stock market volatility on midmarket M&A activity

DOW JONES INDUSTRIAL AVERAGE

AUDIENCE POLL

3) How will middle-market M&A dealflow in 2012 compare to 2011?

A) Much greater than 2011B) Slightly greater than 2011C) Slightly less than 2011D) Much less than 2011E) Equal to 2011

Near-term outlook

AUDIENCE Q&A

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