Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions

Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, Tenth Edition, is the most comprehensive and cutting-edge text available on the subject. Supported by recent peer-reviewed academic research, this book provides many recent, notable deals, precedent-setting judicial decisions, government policies and regulations, and trends affecting M&As, as well as takeover strategies and tactics. Today's policies, politics and economics are reflected in the book's 40 case studies, 90% of which involve deals either announced or completed during the last several years. These cases represent friendly, hostile, highly leveraged, and cross-border transactions in ten different industries, involving public and private firms and those experiencing financial distress.

Sections discuss an overview of M&As, key regulations, common strategies and tactics, how managers may choose a business strategy from available options, valuation methods and basic financial modeling techniques, the negotiating process, how deal structuring and financing are inextricably linked, how consensus is reached during the bargaining process, the role of financial models in closing the deal and strategic growth options as alternatives to domestic M&As.

Provides a rigorous discussion of the strengths and limitations of financial modeling as applied to M&A and how these models can be applied in various areas Includes new academic research and updated/revised case studies Presents updated M&A tactics and strategies, along with court cases and new regulations governing business combinations, valuation methodologies and financing

PART I THE MERGERS AND ACQUISITIONS ENVIRONMENT 1. Introduction to Mergers, Acquisitions, and Other Restructuring Activities 2. The Regulatory Environment 3 The Corporate Takeover Market: Common Takeover Tactics, Anti-Takeover Defenses, and Corporate Governance

PART II; THE MERGERS AND ACQUISITIONS PROCESS: Phases 1–10 4. Planning: Developing Business and Acquisition Plans: Phases 1 and 2 of the Acquisition Process 5. Implementation: Search through Closing: Phases 3 to 10 of the Acquisition Process 6. Postclosing Integration: Mergers, Acquisitions, and Business Alliances

PART III: MERGER AND ACQUISITION VALUATION AND MODELING 7. Merger and Acquisition Cash Flow Valuation Basics 8. Relative, Asset-Oriented, and Real Option Valuation Basics 9. Financial Modeling Basics 10. Analysis and Valuation of Privately Held Companies

PART IV: DEAL STRUCTURING AND FINANCING STRATEGIES 11. Structuring the Deal: Payment and Legal Considerations 12. Structuring the Deal: Tax and Accounting Considerations 13. Financing the Deal: Private Equity, Hedge Funds, and Other Sources of Funds 14. Applying Financial Modeling to Value, Structure, and Negotiate Stock and Asset Purchases

PART V: ALTERNATIVE BUSINESS AND RESTRUCTURING STRATEGIES 15. Business Alliances: Joint Ventures, Partnerships, Strategic Alliances, and Licensing 16. Alternative Exit and Restructuring Strategies: Divestitures, Spin-offs, Carve-outs, Split-Ups, and Split-Offs 17. Alternative Exit and Restructuring Strategies: Bankruptcy Reorganization and Liquidation 18. Cross-Border Mergers and Acquisitions: Analysis and Valuation