Acquisition Essentials

Series
Pearson
Author
Denzil Rankine / Peter Howson  
Publisher
Pearson
Cover
Softcover
Edition
2
Language
English
Total pages
256
Pub.-date
January 2014
ISBN13
9781292000633
ISBN
1292000635
Related Titles


Product detail

Product Price CHF Available  
9781292000633
Acquisition Essentials
96.20

Description

The comprehensive and crystal-clear companion to making the right acquisition decisions and executing them well:

  • Acquisition is the most powerful corporate development tool available to companies and will therefore always be on the business agenda.
  • Very practical and easy to follow: diagrams, checklists and case studies throughout.
  • The authors have an accessible style and approach
  • The Audience: High level entrepreneurs, senior executives, directors, and business strategists.
  • Updates include: new and updated case studies, analysis of different types of company and how this could affect the transaction, a guide to working with external advisors.

 

Table of Contents

About the authors

Foreword

Publisher’s acknowledgements

 

1 The foundations

Introduction

Bad news … most acquisitions fail

Planning for success

Strategic and acquisition planning

Acquisition target evaluation

Deal management

Integration management

Corporate development

Getting it right

Conclusion

 

2 Finding candidates

Introduction

Running an acquisition search

Strategy

Identify the universe of acquisition candidates

Screen potential targets

Draw up a shortlist

Make an approach

Conclusion

 

3 Preliminary negotiations

Introduction

The confidentiality agreement

The letter of intent

Enforceability of the letter of intent

Conclusion

 

4 Working with advisers

Introduction

Who does what?

Before involving advisers

When to involve advisers

Selecting advisers

The advisory team

Briefing advisers

Terms of reference

Fees

Liability caps

On appointment

Day-to-day management of advisers

The final report

Conclusion

 

5 The integration plan

Introduction

The golden rules of acquisition integration

The integration plan

Post-acquisition review

Conclusion

 

6 Investigating the target

Introduction

What is due diligence about?

When should you do it?

Be prepared for obstacles

Remember: the target will have prepared

How do I know what due diligence to do?

Who does due diligence?

What do I do?

Get the right team

Other points to watch

Commercial due diligence

Why carry out both CDD and FDD?

Financial investigations

Legal investigations

Conclusion

 

7 Valuation

Introduction

Valuation is not best left to the experts

There is no single number

The valuation process – a summary

Valuation is not just about modelling

Calculating synergies

Valuation techniques

Conclusion

 

8 Negotiation

Introduction

The basics

Preparation

Starting discussions

Keeping control

Dealing with tactical ploys

Trading concessions

Splitting the difference

Dealing with pressure devices

Unblocking bottlenecks

Body language

The green light

Learn to recognise and return signals

What to do when ‘win-win’ will not work

Conclusion

 

9 The sale and purchase agreement

Introduction

Why is a contract necessary?

The agreement

Warranties and indemnities

Post-deal

Alternatives to contractual warranties and indemnities

Cross-border issues

Conclusion

 

Appendices

Appendix A Checklist for a financial due diligence investigation

Appendix B Checklist for legal due diligence

 

Index

 

Back Cover

“Straightforward, comprehensive and clear – an excellent guide to this complex topic.” 
Russell Taylor, CEO ITE plc

 

Very few of the world’s top businesses have got to where they are without acquisitions, but how should you approach such a risky decision?

 

Step-by-step, this book explains the principles and practices of successful mergers and acquisitions: from identifying the target at the start to integrating the acquired business at the end. Helping you to make sounder judgments and sharper decisions, this book will guide you through the five key phases of an acquisition:

 

  • Strategic and acquisition planning
  • Acquisition target evaluation
  • Deal management
  • Integration management
  • Corporate development

 

Acquisition Essentials is here to help you make the critical decisions and meet the critical challenges of M&A with speed and confidence.

Author

Denzil Rankine is chief executive and founder of AMR International, which has offices in London, Frankfurt and New York. Denzil has advised on agreed and hostile acquisitions and private equity transactions with values ranging up to $2 bn. Denzil is the author of four books on Mergers & Acquisitions.  

Peter Howson is a director of AMR International, and has over 25 years' experience of M&A and business development both in industry and as an advisor.  He is a qualified accountant and has an MBA from Manchester Business School.