As companies downsize and deconglomerate, they shed companies that are candidates for mergers, acquisitions, leveraged buyouts, and strategic alliances. Intended for those who are pinpointing these targets, structuring the financing, or closing the deals, this guide covers planning and finding; valuation and pricing; financing and refinancing; structuring, tax, and accounting considerations; due diligence; agreements and closings; and international issues. Material is presented in a question-and-answer format. Annotation copyright Book News, Inc. Portland, Or.
The classic book on M&Acovering all aspects of mergers, acquisitions, and buyouts. The Art of M&A continues to be the one-stop, no-nonsense reference for executives facing the day-to-day challenges of combining two or more companies into one. Completely revised and updated, The Art of M&A's handy Q&A format asks and answers more than 1,000 critical M&A questions, including:
- Planning and Finding: How does a search-and-screen hunt for a likely acquisition target begin? What types of fees or guarantees can a "finder" expect for brokering a prospective deal? What are the best Internet sites for dealmaking information?
- Valuation and Pricing: How can activity-based costing uncover hidden values in a company? What happens when a company's selling price is based on its current stock priceand the stock plummets? What are the "traps of undue optimism" that every buyer must guard against?
- Financing and Refinancing: How can a buyer conduct proper due diligence without harming its relationship with the seller? What should an acquirer include in a thorough due diligence checklist? What information should be considered material in a litigation review?
- Postmerger Integration: What critical ingredients should be in a postmerger plan? How are intangibles valued, and how can they be integrated into the new company? What are the restrictions on communications between merging companies?
- Plus...new sections that can ensure a smooth postmerger integration and reveal the keys to success in spin-offs and strategic alliances.
You'll also find sample documentsa typical merger agreement, letter of intent, and due diligence and postmerger integration checklists. Let The Art of M&A, Third Edition, serve as your advisor and walk you step by step through a smooth and successful M&A procedure.