Succeeding in Cross-Border M&A

How to Close Deals in Europe
1. Auflage 2016
ISBN: 978-0-470-68376-7
Verlag: John Wiley and Sons Ltd

Buch, Englisch, 256 Seiten, Format (B × H): 170 mm x 244 mm

Reihe: Wiley Finance Series

This book shows how to value, negotiate and structure a successful acquisition in continental Europe in current market conditions. Cross-border M&A activity is notoriously prone to failure. Cultural differences, lack of market knowledge, regulatory changes all contribute to this record. This book mitigates this risk by providing solid guidance on how to successfully negotiate, close and implement deals. It includes coverage of recent trends in the context of the crisis, including sky-rocketing risk premiums, cash chasing, distressed takeovers, and limited debt availability. Franck Ceddaha gives an overview of the European M&A market, before taking the reader through merger negotiation, structuring and restructuring. The book also includes treatment of takeover and shareholder activism, and looks at midsize and family owned businesses which are of particular importance in the European region. The book also includes full case studies giving practical, real-world guidance. Invaluable for both the seasoned M&A professional, and for the corporate executive looking for an understandable source of information, this comprehensive, straight-forward and reader-friendly handbook is based on both solid academic scholarship and long-standing professional experience in investment banking.

Autoren/Hrsg.

Ceddaha, Franck

Fachgebiete

• Wirtschaftswissenschaften Wirtschaftswissenschaften Literatur für Manager
• Wirtschaftswissenschaften Betriebswirtschaft Management Internationales Management
• Wirtschaftswissenschaften Betriebswirtschaft Unternehmensorganisation, Corporate Responsibility Mergers & Acquisitions (M&A), Übernahmen & Buy-outs

Inhaltsverzeichnis

Introduction

Part 1 The European M&A Market: Structure and Changes

Recent M&A trends

Definitions

Types of mergers

Variety of merger professionals

Part 2 Merger Negotiations

Valuation

Team and Advisors

Due Diligences

Open Bids and Private Negotiations

Negotiation/ Takeovers Tactics

Cross cultural issues

Part 3: Structuring the Deal

Cash or shares in the current framework

Various Deal Structures

Joint Ventures

Legal and Tax Framework

IFRS Business Combination

Antitrust and Social Issues in EU

Part 4 Corporate Restructuring in the Eurozone

Divestitures

Spin off

Debt restructuring in bankruptcy

Asset sale vs liquidation

Part 5 : Takeover of Listed Companies in Continental Europe

EU Directive : a common framework

p2p

Shareholders activism

Changes in European governance for plc

Part 6 Family Businesses in Continental Europe

Key issues on family businesses : culture, transmission, wealth tax, family management

Importance of family businesses in Europe

Doing business with a privately owned family group