SULLIVAN & CROMWELL LLP Partner Frank Aquila appeared on a CNBC Closing Bell segment, “M&A Signs of Strength?,” and discussed the current merger and acquisitions market, noting the volume of recently announced deals. Mr. Aquila said that cash and stock-for-stock deal structures will both be seen in future deals. He added that M&A sectors “across the board [will be active] – but certainly financial services is going to continue to consolidate, energy, transportation – those areas are going to be very, very active.” He also noted that as global economies grow, commodities, basic materials and mining will be sectors that continue to see further M&A activity.