Hooke M&A

A Practical Guide to Doing the Deal
2. Auflage 2014
ISBN: 978-1-118-81701-8
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 224 Seiten, E-Book

Reihe: Wiley Finance Editions

The comprehensive M&A guide, updated to reflect the latestchanges in the M&A environment
M&A, Second Edition provides a practicalprimer on mergers and acquisitions for a broad base of individualsnumbering in the hundreds of thousands:
* Investment bankers involved with mergers and acquisitions(M&A).
* Equity analysts at hedge funds, risk arbitrage funds, pensionfunds, and banks, who invest in firms engaged in M&A.
* Private equity professionals at buyout funds, venture capitalfunds, and hedge funds, who routinely buy and sell companies.
* Corporate executives and business developmentprofessionals.
* Institutional loan officers working with M&A and buyouttransactions.
* Business students at colleges and graduate businessschools.
* Investor relations professionals at corporations and publicrelations firms.
* Lawyers who work with corporate clients on M&A-relatedlegal, financial, and tax matters.
* Independent public accounting firms that review M&Aaccounting.
* Government regulators
* Sophisticated individual investors
Its comprehensive approach covers each step in the process, fromfinding an opportunity, to analyzing the potential, to closing thedeal, with new coverage of private equity funds and internationaltransactions. This updated second edition also includes informationon emerging markets, natural resource valuation, hostile takeovers,special deals, and more, plus new examples and anecdotes taken frommore current events. Additional illustrations and charts helpreaders quickly grasp the complex information, providing a completereference easily accessible by anyone involved in M&A.
The mergers and acquisitions environment has changed in thethirteen years since M&A was initially published,creating a tremendous need for authoritative M&A guidance froma banker's perspective. This M&A update fills that needby providing the characteristic expert guidance in clear, conciselanguage, complete with the most up-to-date information.
* Discover where M&A fits into different corporate growthstrategies, and the unique merits it confers
* Delineate clear metrics for determining risk, valuation, andoptimal size of potential acquisitions
* Gain deeper insight into the fundamentals of negotiation, duediligence, and structuring
* Understand the best time to sell, the best way to sell, and theprocess of the sale itself
In the past decade, the dollar value of M&A deals has jumpedten-fold, and the number of individuals involved has expandedconsiderably. More and more executives, analysts, and bankers needto get up-to-date on the mechanics of M&A, without wadingthrough volume after volume of dense, legalistic jargon. Finally,M&A is back - providing a complete reference tothe current state of the M&A environment.

Autoren/Hrsg.

Hooke, Jeffrey C.

Inhaltsverzeichnis

Preface ix
PART ONE The Big Picture
CHAPTER 1
The Global M&A Market: Current Status and Evolution 3
CHAPTER 2
U.S. M&A History, Trends, and Differences from Other Nations9
CHAPTER 3
The Need for Growth Spurs Acquirers to Buy Other Companies 15
CHAPTER 4
The Three Financial Tactics That Dominate the M&A Business25
PART TWO Finding a Deal
CHAPTER 5
The Buyer Must Have a Methodical Plan in Order to Find a QualityTransaction 39
CHAPTER 6
To Begin an Acquisition Search, the Buyer First Sets the LikelyParameters of a Deal 43
CHAPTER 7
The Buyer Starts the Formal Acquisition Search by AlertingIntermediaries and Contacting Possible Sellers 47
CHAPTER 8
Finding a Deal: Likely Results of a Search 59
CHAPTER 9
The Four Principal Risks Facing a Buyer in the M&A Business65
PART THREE Target Financial Analysis
CHAPTER 10
Sizing Up the M&A Target from a Financial Point of View 77
CHAPTER 11
To Facilitate Financial Projections, the Buyer Needs to Classifythe Target as a Mature, Growth, or Cyclical Business 91
CHAPTER 12
How Practitioners Forecast an M&A Target's Sales andEarnings 97
PART FOUR Acquisition Valuation
CHAPTER 13
The M&A Industry Typically Uses Four Valuation Methodologies109
CHAPTER 14
The Use of Discounted Cash Flow in M&A Valuation 113
CHAPTER 15
Valuing M&A Targets Using the Comparable Public CompaniesApproach 123
CHAPTER 16
Valuing an M&A Target by Considering Comparable Deals andLeveraged Buyouts 133
CHAPTER 17
Valuation Situations That Don't Fit the Standard Models143
PART FIVE Combination, the Sale Process, Structures, andSpecial Situations
CHAPTER 18
Combining the Buyer's and Seller's Financial Resultsfor the M&A Analysis 159
CHAPTER 19
When Is the Best Time for an Owner to Sell a Business? 167
CHAPTER 20
The Sale Process from the Seller's Vantage Point 173
CHAPTER 21
A Review of Legal and Tax Structures Commonly Used in Transactions183
CHAPTER 22
Unusual Transaction Categories 193
CHAPTER 23
Final Thoughts on Mergers and Acquisitions 199
About the Author 201
Index 203

Über Autor(innen)

JEFFREY C. HOOKE is a Managing Director of Focus Securities, a mid-market investment bank. Previously, he led deals at the Emerging Markets Partnership, a $5 billion private equity fund, and was a Principal Investment Officer of the International Finance Corporation, the World Bank's $51 billion private sector division. Earlier, he was an investment banker with Lehman Brothers and Schroder Wertheim in New York. Hooke is a respected author and finance and investment executive with international experience.