Book description
Almost 70% of mergers fail, yet deals are essential for growing world-class companies. Therefore they must use all the tools and techniques at their disposal to improve their chances of success. Applying the techniques advocated in this book can help managers beat the odds - and employees themselves - to have an impact on whether a deal will be successful both for the company and for themselves.
This book looks at the process of a merger or acquisition and pinpoints the areas where business intelligence can raise the odds of success in each phase of the deal. Using techniques developed by governmental intelligence services and a wide range of recent case studies, quotations and anecdotes, the expert authors from the renowned Cass Business School show how to build success into any M&A situation.
The first edition of Intelligent M&A was written in 2006 and published in 2007. This preceded the peak year (2007) of the last merger wave, including the excesses in a number of industries and deals (e.g., financial services with RBS' dramatically failed acquisition of ABN AMRO as a key example), and the global economic downturn that led to a completely new way of operating for many industries and companies.
Therefore, there is a need to update the book to incorporate not just more relevant and up-to-date case studies of deals but to show the 'new' way of operating in a post-Lehman environment. Chapters will be comprehensively re-written and populated with new and relevant case studies.
Table of contents
- Title page
- Copyright page
- Dedication
- Introduction to the Second Edition
- CHAPTER 1: The Need for Intelligence in Mergers and Acquisitions
- CHAPTER 2: Business Intelligence
- CHAPTER 3: Designing the Acquisition Process
- CHAPTER 4: Controlling the Advisors
-
CHAPTER 5: Identifying the Best Targets
- Strategic vs. Opportunistic Deals
- Role of Strategy
- Screening Candidate Targets
- Deal Pipelines
- Acquisition Strategy
- Business Intelligence in Target Selection
- Scenario Planning
- Alternatives to Acquisitions or Mergers
- Organic Growth
- Restructuring and Divestitures
- Alliances and Joint Ventures
- Holding Companies and Minority Investments
- “Do Nothing”
- Conclusion
- CHAPTER 6: The Best Defense
-
CHAPTER 7: Due Diligence
- Preparing for Due Diligence
- The Due Diligence Process
- Types of Due Diligence Information
- Secondary Sources of Information
- External Sources
- Internal Due Diligence Information Available in the Bidder
- Financial Due Diligence
- Legal Due Diligence
- Commercial Due Diligence
- Management Due Diligence
- Cultural Due Diligence
- Ethical Due Diligence
- Using the Intelligence
- Conclusions
-
CHAPTER 8: Valuation, Pricing, and Financing
- Value versus Price
- Control Premiums
- Alternative Methods of Pricing and Valuation
- Synergies
- Experts
- Adjustments to Financial Statements
- Total Deal Cost
- Public Company Valuations
- Private Company Valuations
- Valuations and Business Intelligence
- Alternative Pricing Methods
- Assumptions
- Mergers vs. Acquisitions
- Multiple Valuation Methods
- Role of Business Intelligence
- Financing the Deal
- Conclusion
- CHAPTER 9: Negotiation and Bidding
- CHAPTER 10: Post-Deal Integration
- CHAPTER 11: Post-Deal Review
- CHAPTER 12: Conclusions
-
Bibliography and References
- CHAPTER 1 The Need for Intelligence in Mergers and Acquisitions
- CHAPTER 2 Business Intelligence
- CHAPTER 3 Designing the Acquisition Process
- CHAPTER 4 Controlling the Advisors
- CHAPTER 5 Identifying the Best Targets
- CHAPTER 6 The Best Defense
- CHAPTER 7 Due Diligence
- CHAPTER 8 Valuation, Pricing, and Financing
- CHAPTER 9 Negotiation and Bidding
- CHAPTER 10 Post-Deal Integration
- CHAPTER 11 Post-Deal Review
- Websites
- Index
- End User License Agreement
Product information
- Title: Intelligent M & A: Navigating the Mergers and Acquisitions Minefield, 2nd Edition
- Author(s):
- Release date: June 2014
- Publisher(s): Wiley
- ISBN: 9781118764237
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