MAF
Showing 113–128 of 244 results
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Ask the Advisor – Q. What part does working capital play in a merger?
June / July 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 420
Abstract: In this issue, “Ask the Advisor” explores the considerations involved in determining a business’s working capital — its current assets minus its current liabilities. This number often fluctuates between when a deal is signed and when it closes, so the sale agreement usually includes provisions for working capital adjustments as part of the overall purchase price.
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Family businesses: When selling is the only option
June / July 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: Selling a family business can be harder than selling other types of closely held companies. The time investment, friendships and loyalties associated with the company have little value to outside buyers, who see it only as a business opportunity and view the company more critically than its owner might. This article explains how good, professional advisors can enhance a company’s value.
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The longer haul – How new private equity strategies affect business sellers
June / July 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 622
Abstract: Due to the recent economic slump, once-opportunistic buyers like private equity (PE) funds are sticking with their acquisitions longer than they did a decade ago. This can be good news for sellers. But PE funds with longer-term strategies will likely perform extensive due diligence and may take a harder line on price and deal concessions. This article discusses strategic options for sellers.
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Your CFO’s role in an M&A deal
June / July 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 880
Abstract: No matter which side of an M&A deal a company is on, its chief financial officer plays a central role. Both the seller’s and buyer’s CFOs help ensure their companies get the best value for the transaction and are smoothly merged into one organization. This article describes the different roles of the CFOs and explains why their working relationship can determine whether the merged company gets off to a healthy start. A sidebar discusses why the first 100 days following a deal’s close are critical.
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Ask the Advisor – Q. What is reputational risk and how might it affect my deal?
April / May 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 418
Abstract: An unsuccessful M&A transaction can cause any business’s reputation to suffer. Buyers that fail to close a deal may, for example, face shareholder repercussions. Sellers could gain a “damaged goods” reputation among other prospective buyers. This column describes how to minimize the chance of a damaged reputation.
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Get your deal off to a good start with a letter of intent
April / May 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 511
Abstract: Although it isn’t mandatory, a letter of intent (LOI) can help facilitate a smoother M&A transaction. These documents are drafted before the due diligence and negotiation stages and set forth the principal points of a merger, define critical terms and even resolve potentially contentious issues. This article discusses both the binding and nonbinding LOI provisions.
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Big mistake! – Don’t let one trip up your business sale
April / May 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 838
Abstract: Almost no detail is too big or too small to affect the eventual outcome of an M&A deal. But there are ways to reduce the odds of making a deal-killing mistake by knowing where similar transactions have gone astray. This article examines some of those mistakes, such as overvaluing a business, selling at the wrong time, or neglecting basic housekeeping tasks. A sidebar notes a few of the “loose ends” a seller should clear up before closing a deal.
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What the new tax law means for M&A deals
April / May 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 706
Abstract: Some of the changes brought about by the American Taxpayer Relief Act of 2012 (ATRA) could affect M&A deals for those on both sides of a transaction. Business owners facing a greater tax burden and more estate tax exposure may be eager to sell in the near future. And buyers may shy away from new acquisitions because they fear that future tax legislation could erode profits. This article discusses tax treatment of carried interest income and tax-related due diligence.
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Ask the Advisor – Q. Should I allow an investor to take a minority stake in my company?
February / March 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 419
Abstract: Along with selling, one of the toughest decisions a privately owned business can make is whether to allow an outside investor to take a substantial minority stake. This type of arrangement can be ideal for a business that isn’t able to borrow what it needs from a bank or raise cash via an IPO. But as this article explains, minority investors may request certain rights, such as voting provisions that enable them to intervene in key hires and major asset sales.
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How to leverage location — and get a better price
February / March 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 639
Abstract: For most sellers, their company’s location or property holdings won’t be the centerpieces of their M&A deal. However, a good location could mark the tipping point for buyers that are on the fence — and it might raise the amount of the buyer’s offer. This article discusses such location advantages as lower taxes, fewer regulations and easy access to transportation.
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Stop employee integration problems before they start
February / March 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 540
Abstract: When companies merge, the race for cultural dominance can foster resentment and power struggles and lead to the departure of key employees during the delicate integration stage. This article talks about how companies can head off such problems by making an effort to welcome new personnel and clearly communicate their value in the merged organization.
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Does smaller really mean easier? Acquisition challenges for large companies
February / March 2013
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 847
Abstract: Small companies can offer large company buyers great growth potential or access to unique assets, but they can also pose due diligence, negotiation and integration headaches. This article explains why the small-cap market is desirable, and also what financial, legal, and even emotional obstacles buyers might encounter when negotiating an acquisition. A sidebar discusses how small-business owners can negotiate with sophisticated corporate buyers.
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Ask the Advisor – Q. How fast is too fast when selling a company?
Year End 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 477
Abstract: There’s nothing more frustrating for business sellers than a deal that’s bogged down in due diligence or negotiations. In many cases, the faster a transaction is completed the better. That said, sellers need to be cautious when a deal seems to be moving too quickly. This column lists some of the warning signs to look out for.
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Express ride — Tuck-in mergers take a direct route to integration
Year End 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 616
Abstract: One of the most efficient types of mergers is the “tuck-in” or “bolt-on” acquisition. In these types of transactions, a buyer purchases a business that provides a core competency at a relatively low cost and quickly integrates it into an existing or new division. This article outlines the potential advantages these deals offer for business sellers, but also notes that they can require tough adjustments — particularly for entrepreneurial business owners who are accustomed to independence.
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Keep your M&A deal’s details under wraps
Year End 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 644
Abstract: Whether intentional or inadvertent, leaks can hurt a deal — even one among privately owned middle-market companies. But this article shows that management can take steps to ensure that confidential information stays that way. Specifically, M&A parties should carefully manage documents and communications technology, and limit the number of participants in the deal process.
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Convincing companies to stop saving and start buying
Year End 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 961
Abstract: Continuing a five-year trend, companies are hoarding cash rather than using it to finance acquisitions. The challenge for sellers is to convince buyers to climb down off their mountains of cash. This article offers ways for companies to minimize perceived risks, enhance their profile and attract attention by targeting strategic buyers and offering nontraditional options to expedite deals. A sidebar discusses seller financing.