Practitioner''s Complete Guide to M&as, With Website - An All-Inclusive Reference

Informationen zum Autor DAVID T. EMOTT is a seasoned manager with over twenty-five years of progressively greater responsibility in directing corporate strategy development, M&A and joint venture initiatives, performance measurement, strategic planning, control, financing, information technology, and tax planning activities in international and domestic theaters. He currently runs his own consulting business, D.T. Emott Advisory LLC, which provides services to buyers and sellers of companies or operating units. Klappentext A hands-on, practical guide to doing Mergers and Acquisitions Highly practical and application-oriented, Practitioner's Complete Guide to M&As is designed with appreciation for your demanding obligations, putting the information you require at your fingertips. This hands-on guide takes you through every step of the M&A process, from strategy development and target identification, to due diligence and value creation, written in a straightforward, "here's what you need to know now" style. Whether you're new to the M&A process or just want a quick refresher, this book helps you know what to watch out for, what to do in specific situations, and how to do it. Its convenient bulleted format covers essential topics, including: Acquisition criteria Deal fees In-depth valuation guidance Platform value and real options Secrets to unlocking hidden value Pricing LBOs and the real deal about leverage Auctions, and how to play Complete due diligence guidance Deal structuring, taxable and tax-deferred deals Negotiating the deal Complete deal integration guidance Papering the deal Indemnification, duration, caps, baskets, escrows And much more This is the only guide you need to confidently prepare for, undertake, and master the M&A process. Designed for fast knowledge transfer and instruction, it is the ideal introduction for MBA and law school students and associates entering the investment banking, legal, and accounting professions. Packed with numerous examples, forms, ideas, approaches, and "don't forget" notes for use during live transactions-plus a user-friendly companion website- Practitioner's Complete Guide to M&As is the resource CEOs, CFOs, controllers, corporate development executives, and business owners will turn to again and again for merger and acquisition tools and strategies in a quick-reference format. Zusammenfassung The ultimate guide to the ins and out of mergers and acquisitions Practitioner's Complete Guide to M&As provides the practical tricks of the trade on M&As: what they need to know, what they have to know, and what they need to do. Numerous examples and forms are included illustrating concepts in discussion. Inhaltsverzeichnis Preface xi Acknowledgments xiii TOPIC 1 Strategy Development, Then M&A 1 TOPIC 2 M&A Process: Front to Back 13 TOPIC 3 Why M&A? 17 TOPIC 4 Deal Criteria 19 TOPIC 5 Deal Sourcing 26 TOPIC 6 Fees for Services 29 TOPIC 7 Financial and Strategic Buyers 36 TOPIC 8 How Long Will It Take to Complete the Deal? 38 TOPIC 9 Confidentiality Agreements 39 TOPIC 10 "Concern Capture" Due Diligence 44 TOPIC 11 Keep Deal Conversations Quiet 53 TOPIC 12 Auctions 54 TOPIC 13 Seller's Prospectus 62 TOPIC 14 Pay for Inherent Capabilities Only 65 TOPIC 15 Platform Value 68 TOPIC 16 Buyer and Seller Value Perspectives 70 TOPIC 17 Integration Initiatives Will Determine Deal Value 73 TOPIC 18 Unlock Hidden Value: The Lean Enterprise 75 TOPIC 19 The Real Deal: Lean 78 TOPIC 20 Valuation: An Introduction 82 TOPIC 21 Discounted Cash Flow: An Introduction 86 TOPIC 22 Free Cash Flow 90 TOPIC 23 Fair Retu...

List of contents

Preface.
 
Acknowledgments.
 
TOPIC 1 Strategy Development, Then M&A.
 
TOPIC 2 M&A Process: Front to Back.
 
TOPIC 3 Why M&A?
 
TOPIC 4 Deal Criteria.
 
TOPIC 5 Deal Sourcing.
 
TOPIC 6 Fees for Services.
 
TOPIC 7 Financial and Strategic Buyers.
 
TOPIC 8 How Long Will It Take to Complete the Deal?
 
TOPIC 9 Confidentiality Agreements.
 
TOPIC 10 "Concern Capture" Due Diligence.
 
TOPIC 11 Keep Deal Conversations Quiet.
 
TOPIC 12 Auctions.
 
TOPIC 13 Seller's Prospectus.
 
TOPIC 14 Pay for Inherent Capabilities Only.
 
TOPIC 15 Platform Value.
 
TOPIC 16 Buyer and Seller Value Perspectives.
 
TOPIC 17 Integration Initiatives Will Determine Deal Value.
 
TOPIC 18 Unlock Hidden Value: The Lean Enterprise.
 
TOPIC 19 The Real Deal: Lean.
 
TOPIC 20 Valuation: An Introduction.
 
TOPIC 21 Discounted Cash Flow: An Introduction.
 
TOPIC 22 Free Cash Flow.
 
TOPIC 23 Fair Return on a Deal.
 
TOPIC 24 Risk-Free Rates.
 
TOPIC 25 Equity Risk Premiums.
 
TOPIC 26 What Is Business Risk?
 
TOPIC 27 Entropy: Tendency toward Negative Variation.
 
TOPIC 28 Equity Investor Risk.
 
TOPIC 29 Beta.
 
TOPIC 30 Systematic Risk.
 
TOPIC 31 Unsystematic Risk.
 
TOPIC 32 Beta with or without Debt.
 
TOPIC 33 Beta: Levered or Unlevered.
 
TOPIC 34 Beta Application in Determination of CU.
 
TOPIC 35 Levered Beta Moves as Debt to Equity Moves.
 
TOPIC 36 Size Premium.
 
TOPIC 37 Weighted Average Cost of Capital.
 
TOPIC 38 Terminal Values, Terminal Value Multiples, and Terminal Value DCFs.
 
TOPIC 39 Discounted Cash Flow Valuation Illustrated.
 
TOPIC 40 Leverage: The Real Deal.
 
TOPIC 41 Debt Limits.
 
TOPIC 42 Debt Adds Value: Derivation of Dt.
 
TOPIC 43 The Leveraged Buyout; Definition and Valuation.
 
TOPIC 44 Valuing the Leveraged Buyout.
 
TOPIC 45 Real Option Valuation: An Introduction.
 
TOPIC 46 Real Option Valuation: Application and Illustration.
 
TOPIC 47 M&A Values Are Not All the Same.
 
TOPIC 48 Discounts and Premiums.
 
TOPIC 49 Discounted Cash Flow Valuations: Minority or Control.
 
TOPIC 50 Inflation in DCF Valuations.
 
TOPIC 51 Integration, Alignment, and Synergy Benefits: Plan It Out.
 
TOPIC 52 Integration, Alignment, and Valuing Synergy Benefits.
 
TOPIC 53 Venture Capital Valuation.
 
TOPIC 54 Discount Rates and Valuing Free Cash Flow.
 
TOPIC 55 Growth, C*, and Return: The Engine to Increased Valuations and Deferred Tax Advantage.
 
TOPIC 56 How Fast Can the Target Grow?
 
TOPIC 57 Cash Flow Multiples, Growth Rates, and Discount Rates.
 
TOPIC 58 Comparable Multiples.
 
TOPIC 59 Converting FCFM to P/Es and Other Valuation Multiples and Deriving Slot Multiples for Public Companies.
 
TOPIC 60 EBITDA Valuation Engine.
 
TOPIC 61 Free Cash Flow Equivalent Impacts for Arbitrary Adjustments to Discount Rates.
 
TOPIC 62 Transferring Defined Benefit Pension Plan Liability Issues.
 
TOPIC 63 Environmental Remediation Expenses.
 
TOPIC 64 Environmental Insurance.
 
TOPIC 65 Management Warrant Incentive Plans.
 
TOPIC 66 Negotiation: Introduction and Overview.
 
TOPIC 67 Negotiation: Values, Offers, Prices, and Risk Assumption.
 
TOPIC 68 Negotiation: Offer Content.
 
TOPIC 69 Negotiation: Create Space in Your Ideas.
 
TOPIC 70 Negotiation: Beware of the Emotions of P

Product details

• Authors: Emott, David T Emott, David T. Emott, EMOTT DAVID T, Emott David T.
• Publisher: Wiley, John and Sons Ltd
• Languages: English
• Product format: Paperback / Softback
• Released: 06.05.2011
• EAN: 9780470920442
• ISBN: 978-0-470-92044-2
• No. of pages: 404
• Series: Wiley Finance; Wiley Finance Editions; The Wiley Finance Series; Wiley Finance; Wiley Finance Editions; The Wiley Finance Series
• Subjects: Social sciences, law, business > Business > Business administration; Rechnungswesen, Accounting, Corporate Finance, BUSINESS & ECONOMICS / Mergers & Acquisitions, Takeovers, mergers and buy-outs