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Informationen zum Autor WILLIAM J. GOLE, MBA, CPA, is the former Senior Vice President, Planning and Business Development, with Thomson Healthcare, a division of Thomson Reuters, where he was responsible for strategic planning and acquisition and divestiture activity. PAUL J. HILGER, CPA, is the former Executive Vice President and Chief Financial Officer of Thomson Healthcare. He has over twenty-five years of financial leadership experience, and has led numerous acquisitions and divestitures from planning through integration. Klappentext Step-by-step guidance for conducting M&A due diligenceWritten by William Gole and Paul Hilger, two in-the-trenches veterans in the field of mergers and acquisitions, Due Diligence is an essential guide for corporations considering acquiring another company. The process outlined in the book puts the spotlight on value creation and value extraction in addition to risk assessment.Reflecting their view that due diligence is most effective when it is a seamless overlay on the acquisition process--flowing out of its preparatory stages and influencing the team's subsequent behavior, Gole and Hilger show how to implement each step of the due diligence process including:* Establishing a growth strategy* Screening and selecting candidates* Establishing diligence objectives* Validating value and mitigating risk* Developing actionable findings* Negotiating and closing* Integration* Post-deal assessmentThis comprehensive book highlights key points at the end of each chapter and includes a wealth of helpful exhibits, examples, checklists, and templates. Zusammenfassung This nuts-and-bolts guide examines all aspects of an M&A due diligence-from coming to the decision to acquire a company, to who should be on the due diligence team, to the actual process and the final report and post-closing follow up. Inhaltsverzeichnis Preface xiii Step-by-Step Guidance xiii Organization xiv Planning xv Investigation xvi Execution xvii About the Authors xix Part One Planning 1 Chapter 1 Introduction 3 Overview 3 Mergers and Acquisitions: A Way of Corporate Life 3 Mixed Results 6 Acquisition Risk and Due Diligence 7 Preventable Causes of Failure 10 Myopic Approach to Due Diligence 11 Reacting to Deals 11 Compartmentalized Behavior 13 Inactionable Findings 13 Exclusive Focus on Risk Mitigation 14 Key Success Factors 14 Holistic View of Due Diligence 14 Growth Strategy 15 Integrated Management 15 Purposeful Action 16 Value Orientation 16 Due Diligence and Value Creation 16 Plan to Create Value 16 Strategic Purpose 17 Value Drivers 20 Key Risks 23 Purposeful Behavior 24 Key Points 25 Chapter 2 Planning for Value Creation: Growth Strategy 27 Introduction 27 Central Role of Strategic Planning 27 Chapter Focus 28 The Strategic Planning Process 29 Managing the Process 30 Characteristics of an Effective Planning Process 31 Process Overview 32 Strategic Assessment 32 Market Targeting Process 33 Investment Objectives 34 Market Expansion 35 Vertical Integration 37 Infrastructure Improvement 38 Investment Alternatives 38 Characteristics of Investment Types 39 Backup Planning 45 Plan Outputs 46 Conclusion 51 Key Points 51 Chapter 3 Implementing the Growth Strategy 53 From Identification to Pursuit 53 Choosing an Acquisition Strategy 53 Winnowing Process 54 Identification 58 Marketplace for Acquisitions 58 Identifying Prospects 59 Qualification 64 Strategic Fit 64 Availability 66 Engagement 67 Proactive...
