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Miranda So

Partner at Davis Polk & Wardwell

Lawyer

Hong Kong

Deal Bio

Total Deals49

Valued Deals25

Total Value£ 32.16 B

Avg. Deal Size£ 1.29 B

Market Context

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02 Jan 2015|China|Software

Target: PERFECT WORLD CO. LTD.

Bidder: MICHAEL YUFENG CHI

2 Service Providers

2 Target

1 Dealmakers

1 Target

n/a

Value

31 Mar 2015|Netherlands|Auto Technology

Target: PHILLIPS AUTOMOTIVE LIGHTNING BUSINESS

Bidder: GO SCALE CAPITAL INVESTOR CONSORTIUM

4 Service Providers

2 Target | 2 Vendor

2 Dealmakers

2 Vendor

£ 1.78 B

Value

17 Apr 2015|China|E-commerce

Target: 58.COM INC

Bidder: TENCENT HOLDINGS LIMITED

1 Service Providers

1 Bidder

1 Dealmakers

1 Bidder

n/a

Value

15 Dec 2015|China|Entertainment

Target: BONA FILM GROUP LIMITED

Bidder: ALIBABA GROUP HOLDING LIMITED

7 Service Providers

2 Target | 5 Bidder

3 Dealmakers

3 Target

£ 640 M

Value

30 Jul 2015|South Korea|Private Equity

Target: MBK PARTNERS

Bidder: FAREASTONE TELECOMMUNICATIONS CO. LTD.

5 Service Providers

2 Target | 3 Bidder

2 Dealmakers

1 Target | 1 Bidder

n/a

Value

08 Oct 2015|China|Internet

Target: DIANPING HOLDINGS LTD

Bidder: MEITUAN CORPORATION

3 Service Providers

2 Target | 1 Bidder

2 Dealmakers

2 Bidder

n/a

Value

04 Nov 2015|China|Medical Equipment

Target: MINDRAY MEDICAL INTERNATIONAL LIMITED

Bidder: EXCELSIOR UNION LIMITED

6 Service Providers

3 Target | 3 Bidder

1 Dealmakers

1 Target

n/a

Value

09 Nov 2015|Switzerland|Electronic Equipment: Other

Target: CIRCUIT PROTECTION DEVICES BUSINESS OF TE CONNECTIVITY LTD.

Bidder: LITTLEFUSE INC.

2 Service Providers

1 Target | 1 Bidder

2 Dealmakers

2 Target

n/a

Value

23 Nov 2015|India|Food Products

Target: ADVANTA LIMITED

Bidder: UPL LIMITED

7 Service Providers

3 Target | 4 Bidder

1 Dealmakers

1 Bidder

n/a

Value

11 Jan 2016|China|Internet

Target: MEILIWORKS LIMITED

Bidder: MOGU HOLDINGS LIMITED (MOGUJIE)

2 Service Providers

1 Target | 1 Bidder

3 Dealmakers

1 Target | 2 Bidder

£ 2.10 B

Value

21 Jan 2016|Taiwan|Semiconductors

Target: CHIPMOS TECHNOLOGIES LTD.

Bidder: CHIPMOS TECHNOLOGIES INC.

5 Service Providers

3 Target | 2 Bidder

2 Dealmakers

2 Target

n/a

Value

12 Feb 2016|China|Internet

Target: QIYI.COM INC.

Bidder: ROBIN YANHONG LI

6 Service Providers

4 Target | 2 Bidder

1 Dealmakers

2 Bidder

n/a

Value

12 Apr 2016|United States|Asset Managers and Custodians

Target: LEGG MASON INC

Bidder: SHANDA GROUP PTE LTD

5 Service Providers

3 Target | 2 Bidder

2 Dealmakers

2 Bidder

n/a

Value

15 Apr 2016|China|Real Estate Services

Target: E-HOUSE HOLDINGS LIMITED

Bidder: XIN ZHOU

4 Service Providers

1 Target | 3 Bidder

1 Dealmakers

1 Target

n/a

Value

21 Dec 2016|United States|Asset Managers and Custodians

Target: LEGG MASON INC

Bidder: SHANDA GROUP PTE LTD

1 Service Providers

1 Bidder

1 Dealmakers

1 Bidder

n/a

Value

08 Dec 2017|Sweden|E-commerce

Target: SPOTIFY AB

Bidder: TENCENT HOLDINGS LIMITED

1 Service Providers

1 Bidder

2 Dealmakers

2 Bidder

n/a

Value

08 Dec 2017|China|Online and Social Platforms

Target: TENCENT MUSIC ENTERTAINMENT

Bidder: SPOTIFY AB

3 Service Providers

1 Target | 2 Bidder

6 Dealmakers

2 Target | 4 Bidder

n/a

Value

28 Aug 2018|China|Soft Drinks

Target: JIAHAO FOODSTUFF LIMITED

Bidder: HUABAO INTERNATIONAL HOLDINGS LTD

5 Service Providers

4 Bidder | 1 Vendor

9 Dealmakers

3 Bidder | 6 Vendor

£ 398 M

Value

05 Nov 2018|China|Brewers

Target: CHINA RESOURCES BEER (HOLDINGS) CO LTD

Bidder: HEINEKEN NV

3 Service Providers

2 Bidder | 1 Vendor

5 Dealmakers

4 Bidder | 1 Vendor

£ 351 M

Value

01 Feb 2019|Indonesia|Mobile

Target: GOJEK GROUP

Bidder: AIA GROUP LTD

6 Service Providers

2 Target | 4 Bidder

21 Dealmakers

7 Target | 14 Bidder

n/a

Value

28 Jun 2019|Hong Kong|Third Party Logistics (3PL)

Target: LF LOGISTICS

Bidder: TEMASEK HOLDINGS LIMITED

3 Service Providers

1 Bidder | 2 Vendor

12 Dealmakers

3 Bidder | 9 Vendor

£ 236 M

Value

17 Oct 2019|United States|Electrical Components

Target: LOROM HOLDING

Bidder: CORNELL CAPITAL LLC

4 Service Providers

1 Target | 3 Bidder

15 Dealmakers

2 Target | 13 Bidder

n/a

Value

31 Dec 2019|United States|Entertainment

Target: UNIVERSAL MUSIC GROUP

Bidder: TENCENT HOLDINGS LIMITED

25 Service Providers

1 Target | 15 Bidder | 9 Vendor

57 Dealmakers

3 Target | 33 Bidder | 21 Vendor

£ 2.58 B

Value

02 Apr 2020|China|E-commerce

Target: 58.COM INC

Bidder: OCEAN LINK PARTNERS

22 Service Providers

7 Target | 13 Bidder | 2 Vendor

68 Dealmakers

8 Target | 55 Bidder | 5 Vendor

£ 6.06 B

Value

01 Apr 2020|Indonesia|Payments / Commerce

Target: GOJEK GROUP

Bidder: PAYPAL HOLDINGS INC

12 Service Providers

3 Target | 9 Bidder

34 Dealmakers

7 Target | 28 Bidder

n/a

Value

27 Jul 2020|China|Software

Target: SOGOU INC

Bidder: TENCENT HOLDINGS LIMITED

13 Service Providers

6 Target | 5 Bidder | 2 Vendor

18 Dealmakers

6 Target | 10 Bidder | 2 Vendor

£ 1.68 B

Value

28 Jul 2020|China|Education Services

Target: EF KIDS & TEENS

Bidder: PERMIRA ADVISERS LLP

8 Service Providers

3 Bidder | 5 Vendor

47 Dealmakers

26 Bidder | 23 Vendor

£ 934 M

Value

17 Sep 2020|China|Digital Services

Target: 51JOB INC

Bidder: DCP CAPITAL PARTNERS

23 Service Providers

7 Target | 12 Bidder | 4 Vendor

55 Dealmakers

15 Target | 34 Bidder | 6 Vendor

£ 3.32 B

Value

18 Dec 2020|United States|Entertainment

Target: UNIVERSAL MUSIC GROUP

Bidder: TENCENT HOLDINGS LIMITED

14 Service Providers

1 Target | 5 Bidder | 8 Vendor

36 Dealmakers

3 Target | 10 Bidder | 23 Vendor

£ 2.22 B

Value

14 Dec 2020|China|Biotechnology

Target: OVERLAND ADCT BIOPHARMA

Bidder: OVERLAND PHARMACEUTICALS

7 Service Providers

7 Bidder

18 Dealmakers

18 Bidder

n/a

Value

17 May 2021|Indonesia|E-commerce

Target: GOTO GROUP

Bidder: GOJEK GROUP

36 Service Providers

1 Target | 35 Bidder

54 Dealmakers

2 Target | 52 Bidder

n/a

Value

19 Jul 2021|United Kingdom|Gaming

Target: SUMO GROUP PLC

Bidder: TENCENT HOLDINGS LIMITED

10 Service Providers

6 Target | 4 Bidder

42 Dealmakers

23 Target | 19 Bidder

£ 922 M

Value

23 Aug 2021|China|Digital Services

Target: KUAIKAN

Bidder: COATUE MANAGEMENT LLC

6 Service Providers

1 Target | 5 Bidder

8 Dealmakers

1 Target | 7 Bidder

£ 176 M

Value

25 Jun 2021|China|Specialty Retailers

Target: AI DREAM

Bidder: HILLHOUSE CAPITAL GROUP

8 Service Providers

1 Target | 2 Bidder | 5 Vendor

16 Dealmakers

2 Target | 10 Bidder | 4 Vendor

n/a

Value

04 Aug 2021|United States|Payments / Commerce

Target: TBCASOFT

Bidder: NAVER CORPORATION

4 Service Providers

1 Target | 3 Bidder

12 Dealmakers

1 Target | 11 Bidder

£ 17 M

Value

08 Nov 2021|United States|Software

Target: FISCALNOTE HOLDINGS INC

Bidder: MASO CAPITAL

12 Service Providers

4 Target | 8 Bidder

34 Dealmakers

18 Target | 17 Bidder

£ 963 M

Value

11 Nov 2021|Indonesia|E-commerce

Target: GOTO GROUP

Bidder: PERMODALAN NASIONAL BERHAD

15 Service Providers

5 Target | 10 Bidder

15 Dealmakers

5 Target | 10 Bidder

£ 962 M

Value

06 Jun 2022|Hong Kong|Biotechnology

Target: INSILICO MEDICINE

Bidder: WARBURG PINCUS LLC

8 Service Providers

2 Target | 6 Bidder

17 Dealmakers

11 Target | 6 Bidder

£ 48 M

Value

08 Jul 2022|United States|Food Retailers and Wholesalers

Target: BEST FORMULATIONS INC

Bidder: SIRO PHARMA CO LTD

6 Service Providers

3 Target | 3 Bidder

14 Dealmakers

2 Target | 12 Bidder

n/a

Value

10 Aug 2022|Hong Kong|Biotechnology

Target: INSILICO MEDICINE

Bidder: SAUDI ARAMCO ENERGY VENTURES

5 Service Providers

2 Target | 3 Bidder

11 Dealmakers

7 Target | 4 Bidder

£ 28 M

Value

06 Sep 2022|France|Gaming

Target: GUILLEMOT BROTHERS

Bidder: TENCENT HOLDINGS LIMITED

4 Service Providers

2 Bidder | 2 Vendor

25 Dealmakers

13 Bidder | 12 Vendor

£ 254 M

Value

31 Jan 2023|Singapore|Automobiles

Target: LOTUS TECHNOLOGY INC

Bidder: L CATTERTON ASIA ACQUISITION CORP

13 Service Providers

6 Target | 7 Bidder

56 Dealmakers

32 Target | 24 Bidder

£ 4.36 B

Value

10 Aug 2023|Germany|Diversified Engineering Procurement Construction (EPC)

Target: IN-TECH GMBH

Bidder: LOROM HOLDING

6 Service Providers

1 Target | 5 Bidder

17 Dealmakers

1 Target | 16 Bidder

n/a

Value

02 Oct 2023|Germany|Auto Services

Target: BEHR-HELLA THERMOCONTROL

Bidder: AUO CORPORATION

9 Service Providers

1 Target | 4 Bidder | 4 Vendor

33 Dealmakers

1 Target | 21 Bidder | 11 Vendor

£ 519 M

Value

16 Nov 2023|Switzerland|Digital Services

Target: GLOBAL BLUE SA

Bidder: TENCENT HOLDINGS LIMITED

11 Service Providers

5 Target | 4 Bidder | 2 Vendor

24 Dealmakers

11 Target | 10 Bidder | 3 Vendor

£ 80 M

Value

11 Dec 2023|Indonesia|E-commerce

Target: GOTO/ TIKTOK JOINT VENTURE

Bidder: TIKTOK GLOBAL

6 Service Providers

6 Bidder

18 Dealmakers

18 Bidder

£ 1.20 B

Value

30 Sep 2024|South Korea|E-commerce

Target: SOOMGO

Bidder: ARK & PARTNERS

1 Service Providers

1 Bidder

5 Dealmakers

5 Bidder

n/a

Value

15 Jan 2025|Japan|Semiconductors

Target: TECHPOINT INC

Bidder: ASMEDIA

10 Service Providers

5 Target | 5 Bidder

20 Dealmakers

7 Target | 13 Bidder

£ 319 M

Value

07 Feb 2025|Taiwan|Third Party Logistics (3PL)

Target: MORRISON EXPRESS

Bidder: SG HOLDINGS

4 Service Providers

2 Target | 2 Bidder

10 Dealmakers

9 Target | 1 Bidder

n/a

Value