By Robert Stefanowski
Successfully resource, Negotiate, and shut Any Merger, Acquisition, or Joint Venture
Making M&A bargains Happen offers a realistic businessperson's method of making M&A offers that stand up to the try out of time. The booklet offers entire suggestions on the right way to resource, negotiate, and shut mergers, acquisitions, and joint ventures, discussing every one level of the deal technique and highlighting the serious parts, dangers, and possibilities of each.
Bob Stefanowski, who has overseen greater than $8.7 billion in M&A offers, equips readers with specialist info at the M&A atmosphere… constructing an organization process on M&A…financial modeling and ultimate valuation…bidding strategies…structuring the deal…legal and regulatory issues…and a lot more.
Filled with easy-to-use instruments, strategies, and assets, Making M&A bargains Happen features:
- Proven M&A suggestions and strategies that bring up price for the corporate
- In-depth case experiences of Tyco, Conseco, and Time Warner, displaying the place agencies have long gone wrong_and tips on how to steer clear of related pitfalls
- Detailed negotiation do's and don'ts and troubleshooting ideas
- A wealth of tables, charts, and examples that illustrate key equipment
- Sample due diligence audit courses and knowledge requests
Based on a well known direction the writer teaches at UPENN - Wharton Making M&A bargains Happen now deals a profitable blueprint to all pros really concerned with the M&A process_ no matter if within the making plans, due diligence, or integration phases.
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Additional resources for Making M&A Deals Happen
Through a long “courting period,” Dimon and Harrison developed a level of trust and mutual agreement about the benefits of a combination of their two organizations. Although investment bankers were involved at a later stage to structure, price, and negotiate the transaction, the leaders of the two companies had agreed to the core elements of the deal. This is a very efficient way to get a deal done—and to keep it private while discussions are under way. However, not many M&A transactions have the luxury of the two CEOs creating an early bond.
6. Through the use of historical data, management forecasts, and sensitivity analysis, the buyer attempts to estimate how the target company would perform if it were purchased. These pro forma financial models are reviewed with the buyer’s senior management to determine if the target can generate the buyer’s required rates of return. 7. There is often a tension at this point in the process because of a lack of data. Sellers are reluctant to release too much information too soon, and buyers are desperate for information to arrive at a range of purchase values.
They should be noted in the preliminary bid letter if they are available to the buyer and provide a competitive advantage. ■ ■ ■ Speed. Sellers are often under time pressure to close a deal fast. Buyers who can act quickly to close will normally be looked at more favorably than those requiring a long process to close. Financing. Buyers who can bid without a financing contingency usually have a distinct advantage. A financing contingency gives a buyer the ability to walk away if it cannot arrange the financing to complete the deal.