Credit Suisse Investment Banking Pitch Book
CONFIDENTIAL
Premiums Paid Analysis
Implied Premiums
Unaffected Price (3/18/05)
10-Day Average
30-Day Average
60-Day Average
90-Day Average
10-Day Prior
30-Day Prior
60-Day Prior
90-Day Prior
Pre Spin-Off Ann. (10/1/04)
LTM High (04/14/04)
LTM Low (08/09/04)
Historical
Price
$24.95
$25.31
$25.85
CREDIT FIRST
SUISSE BOSTON
$26.53
$26.00
$25.94
$26.85
$27.76
$26.65
$24.42
$28.64
$22.54
Premium /(Discount) to Solar Price
Unaffected Price
$24.95
(3) Based on the following criteria
Announced Global M&A deals from 1/1/19935 13/10/2005
100% Cash Consideration
4) Based on unaffected 3/15/05 stock price of $24.95
Note: Based on closing stock prices.
0.0%
(3.5%)
(5.9%)
(6.2%)
(3.8 %)
(7.1%)
(10.1%)
(6.4%)
2.2%
(12.9%)
(1) Solar closing stock price preceding numors of a potential sale (3/1805 closing stock price)
(2) Source SOC
10.7%
Proposal
$36.00 Premiums Paid Analysis
44.3%
42.2%
39.3%
35.7%
35.3%
38.8%
34,1%
29.7%
35.1%
47.4%
25.7%
59.7%
Precedent Premiums Paid
Tech Deals Greater than $1BN
All Deals Greater than $1BN
Implied Solar Price per Share
Tech Deals Greater than S1BN
All Denis Greater than $18N
1 Day Prior
26.1%
25.0%
$31.47
$31.19
Median Premium to Share Price
30 Days Prior 52 Week High
33.3%
31.5%
$33.25
$32.80
(0.2%)
1.0%
of Deals
111
337
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