Time: Sunday, March 9, 2008, 10:05 am - 11:20 am

A merger or acquisition is one of the most transformative undertakings in the life of a firm. The sustainability of such an undertaking is a matter of great importance over the long-term. M&A in Asia is going through a period of rapid change, from increased activity in Japan, to continued growth in China, to new developments in India, to the increase in private equity activity. The nature of the current transformations in Asian M&A and the long-term sustainability of today's M&A will affect the worldwide market for years to come. This panel will examine the ever increasing and important phenomenon of Asian outbound capital and its role in shaping the future of M&A.

Daniel X. Chen

Associate, Sullivan & Cromwell LLP

Daniel X. Chen is an associate at Sullivan & Cromwell LLP. He is a member of its Mergers & Acquisitions Group and throughout his career has advised financial sponsors, strategic principals and fund managers in leveraged buy-outs, strategic acquisitions, proxy contests, stock and asset sales and other types of acquisitions. Daniel has recently represented Eisai Co., Ltd. of Japan in its acquisition of MGI PHARMA, Inc., an investor group led by Australia based Macquarie in its acquisition of Duquesne Light Holdings, Argentina based Tenaris S.A. in its acquisition of Maverick Tube Corporation, TXU Corp. in its acquisition by an investor consortium led by KKR and TPG, AT&T Inc. in its acquisition of Dobson Communications Corporation, Pershing Square Capital Management in its proxy contest against Ceridian Corporation's board and management, and Vertrue Incorporated in its acquisition by an investor consortium led by One Equity Partners. Daniel holds a J.D. from Columbia Law School and received his LL.B. from Nanjing University in 1997 and his Master of Laws from University of International Business and Economics in Beijing in 2000.

Show-Mao Chen

Partner, Davis Polk & Wardwell

Mr. Chen is the Managing Partner of Davis Polk's Beijing office. He has extensive experience in international securities offerings and M&A transactions:

He advised the Industrial and Commercial Bank of China (ICBC) on its recent $21 billion initial public offering, which is the largest IPO ever, and the first global offering that involved a concurrent listing in China.

He also advised ICBC on the $3.8 billion strategic investment in the bank by a consortium comprising Goldman Sachs, American Express and Allianz, which is the largest-ever investment in a Chinese financial institution.

He advised China National Offshore Oil Company (CNOOC) on its proposed $19 billion acquisition of Unocal, which is the largest-ever attempted takeover by a Chinese company.

He completed the global initial public offerings of Air China, China Construction Bank, Sinopec, China Unicom, Chalco, Baidu.com and others, as well as offerings of sovereign debt by the Ministry of Finance of the People's Republic of China.

Mr. Chen has worked on a broad range of securities offerings and M&A transactions by Taiwan companies, including Acer, ASE, ASUS, AU Optronics, China Steel, Chinatrust Bank, Far EasTone, HTC, Hon Hai Precision, Inotera, Nanya Technology, Quanta Computer, Taishin Bank, TSMC, UMC and others. He also advised the Ministry of Economic Affairs of the ROC, the Development Fund of the Executive Yuan of the ROC and the Taiwan Stock Exchange on securities law matters.

Mr. Chen holds degrees from the universities of Stanford, Oxford (where he was a Rhodes Scholar) and Harvard. Mr. Chen has also worked in the Research & Planning and Enforcement divisions of the New York Stock Exchange.

Mr. Chen joined the firm in 1992 and became a partner in 2000. He is fluent in Mandarin.

Nobuhisa Ishizuka

Partner, Skadden, Arps, Slate, Meagher & Flom LLP

Nobuhisa Ishizuka represents clients in a broad range of corporate and financial matters, including mergers and acquisitions and investment and corporate finance transactions.

Mr. Ishizuka has extensive experience representing manufacturing and service companies, financial institutions and private investment funds. He has advised numerous U.S. and Japanese corporations on acquisitions in the United States, Japan and Europe. In addition, he has advised clients on the U.S. aspects of Japanese tender offers, Euromarket debt offerings and the first debt offerings in the United States by Chinese issuers. He also has advised investment bankers and their legal departments in initiating and structuring cross-border transactions involving Japan.

David K. Lakhdhir

Partner, Paul, Weiss, Rifkind, Wharton & Garrison LLP

A partner in the Corporate Department, David K. Lakhdhir has particular expertise in mergers and acquisitions and strategic joint ventures, especially in the international context. He is resident in the firm's London office.

In recent years, Mr. Lakhdhir has acted for a variety of European and Asian companies in acquiring U.S. companies in both public and private transactions, including in the manufacturing, software, electronics, financial services and insurance industries. He has advised on major cross-border acquisitions in the financial services, hospitality, telecommunications, power, entertainment, educational services, outsourcing, internet and media sectors. An advisor to several leading U.S. private equity funds since the late 1980s, in recent years Mr. Lakhdhir has acted for several prominent private equity funds active in Europe, as well as for European funds acquiring or investing in U.S. companies. From London he has also advised major Korean, Chinese, Singapore and Indian companies in a wide range of acquisitions of European, US and multinational enterprises.

From 1993 to 1997, Mr. Lakhdhir served as partner-in-charge of the firm's Tokyo office. His representations during this period included the establishment of the Universal Studios theme park in Osaka; the deleveraging and revitalization of the Doosan Group (a Korean business conglomerate) through a series of M&A transactions; several bank “mega”-mergers; and over $10 billion of equity, hybrid capital and debt offerings for several of Japan's largest banks. Mr. Lakhdhir has remained active in Japanese corporate transactions, most recently advising Citigroup on its acquisition of Nikko Cordial Corporation.

After joining Paul, Weiss in 1984, Mr. Lakhdhir initially focused primarily on U.S. merger and acquisition transactions, including a series of innovative leveraged buy-outs and several hostile takeovers, and was profiled as a so-called "merger whiz kid" in a 1986 Wall Street Journal article.

Mr. Lakhdhir received an A.B. degree, magna cum laude, in Government, from Harvard College in 1980 and a J.D. degree, cum laude, from Harvard Law School in 1983. He is a member of the Bars of the State of New York and the District of Columbia, and is also enrolled as a solicitor in England and Wales. Mr. Lakhdhir was the Chair of the International Law Committee of the Association of the Bar of the City of New York from 1999 to 2001, and secretary and member of the Foreign and Comparative Law Committee in the late 1980's. In 1983-84, he was a visiting scholar at the Indian Law Institute in New Delhi.

Melissa Eidelheit

Associate, Morrison & Foerster LLP

Mark Wu (Moderator)

Academic Fellow, Columbia Law School

Mark Wu is currently an Academic Fellow at Columbia Law School. He served previously as the Director of Intellectual Property in the Office of the U.S. Trade Representative. He was also an Engagement Manager at McKinsey & Co. and an Economist at the World Bank. He is a graduate of Harvard College, Yale Law School, and Oxford University, which he attended on a Rhodes Scholarship.