In 2004, we advised clients on more than 150 M&A transactions with an aggregate value of more than $25 billion, providing guidance in areas including corporate, securities, antitrust and tax. In the past five years, we have completed more than 800 mergers and acquisitions valued in excess of $400 billion, ranging rom sales of VC-backed companies to multi-billion dollar global mergers. The following are selected highlights from our 2004 transactions:

• Angiolink —acquisition by Medtronic — $45,000,000 plus potential earnout
• Avid — acquisition by M-Audio — $175,000,000 plus potential earnout of $45,000,000
• Baltimore Ravens — acquisition by Stephen J. Bisciotti — $600,000,000
• Bank One — has acquired the private-label credit card operation of Circuit City — $1,800,000,000
• Bell — acquisition of the Canadian operations and selected US assets of 360Networks — $275,000,000 CDN
• Berkshire Mortgage — sale of mortgage servicing business to Deutsche Bank — Undisclosed
• Blockbuster — split-off from Viacom and payment of $905,000,000 special distribution (counsel to special committee)
• Bookham — acquisition of New Focus — $330,500,000
• Bose — acquisition of EnduraTEC Systems — Undisclosed
• CCBN — acquisition by Thomson — Undisclosed
• Danaher — acquisition of Trojan Technologies — $192,000,000
• DoubleClick — acquisition of Performics — $58,000,000 plus potential earnout of $7,000,000
• Eastman Kodak — sale of Remote Sensing Systems operations to ITT Industries — $725,000,000
• Eclipsys — acquisition of CPMRC — Undisclosed
• Educational Testing Service — sale of Capstar subsidiary to Thomson Learning — Undisclosed
• Franklin Street Properties —acquisition of four REITs — $193,000,000
• Granite Systems — acquisition by Telcordia — Undisclosed
• Keane — acquisition of Nims Associates — $20,000,000 plus potential earnout of $15,000,000
• Kronos — acquisition of Ad Opt — $69,000,000 CDN
• Legg Mason — acquisition of selected offices of the Scudder asset management business of Deutsche Bank — $81,300,000 (including potential earnout)
• Manufacturers’ Services Limited — acquisition by Celestica — $293,000,000
• Mellon — acquisition of EACM — Undisclosed
• MicroLine — acquisition by Pentax — $48,000,000
• Modus Media — acquisition by CMGI — $230,500,000
• Netegrity — acquisition by Computer Associates — $430,000,000
• Oracle — acquisition of PeopleSoft — $10,300,000,000 (EU antitrust co-counsel)
• Pure Encapsulations — acquisition by Aeterna Laboratories — $50,000,000
• QAS — acquisition by Experian — £106,000,000
• Quantum Bridge Communications — acquisition by Motorola — $57,500,000 plus potential earnout of $142,500,000
• SallieMae — acquisition of Arrow Financial Services — $165,000,000
• Switchboard — acquisition by InfoSpace — $160,000,000 (counsel to principal stockholder)
• Telica * — acquisition by Lucent — $295,000,000
• Verizon Wireless — acquisition of spectrum assets from NextWave Telecom — $930,000,000
• Victory — acquisition by Hannaford Bros. — $175,000,000
• WebMD — acquisition of ViPS — $160,000,000