MAF
Showing 129–144 of 244 results
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Ask the Advisor — Q. Should I be concerned about hostile bids?
October / November 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 523
Abstract: Sometimes buyers make unsolicited offers to companies that aren’t planning to sell or aren’t yet ready for the market. While most unsolicited buyers take “no” for an answer — or improve their offer until the target company says “yes” — some attempt a hostile takeover. Such attempts, typically in the form of a tender offer or a proxy fight, primarily concern public companies. But privately owned businesses can experience something similar when unsolicited buyers convince one or more owners to sell in opposition to the wishes of one or more other owners.
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Financing your second business venture
October / November 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 718
Abstract: Entrepreneurs often believe that a second business venture will be easier than the first. In some respects, that’s true. But second-time owners first must surmount major financial obstacles. This article discusses sources of revenue if bank financing is inadequate, including private equity (PE). Second-time buyers are cautioned, however, against partnering with a PE group without first getting answers to some important questions.
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Why startups pose special M&A risks
October / November 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 709
Abstract: Startup acquisitions often are doomed from the beginning because buyers’ expectations are too high. For their part, sellers frequently fail to consider how their nimble operation will fare once it’s integrated into a large corporate structure. This article discusses a recent example of how such promising marriages end in disappointment. It cautions buyers against being overly hasty and sellers being inflexible.
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Working the table — Negotiation tips for business sellers
October / November 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 896
Abstract: Deal negotiations may be the single most important — and the most challenging — stage of a transaction. And they can be particularly difficult for first-time sellers. This article talks about how sellers can prepare for possible disagreements, including deciding how they’ll try to resolve conflicts before sitting down at the negotiation table. It discusses how to research a potential buyer and strategies to pursue when negotiations begin. A sidebar notes several concessions that sellers might gain if they’re flexible on price.
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Ask the Advisor — Q. What’s the best way to merge two IT networks?
August / September 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 446
Abstract: One of the biggest integration challenges for business buyers and sellers is combining their IT systems. If this task isn’t accomplished quickly, efficiently and correctly, it could hamper the newly merged organization for years. This column examines how smart companies prepare for technical integration, noting that IT staff need to keep in mind the merged organization’s strategic objectives.
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Price isn’t everything — Why sellers need to look at the bigger picture
August / September 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 606
Abstract: It’s easy to understand why a selling owner would assume that the highest acquisition offer is the best one. But successfully selling a business isn’t that simple. Sellers must consider a range of factors, including financing risk, deal structure, regulatory concerns, organizational compatibility, and just plain gut feelings.
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The breakup — Which M&A party foots the bill?
August / September 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 831
Abstract: M&A deals fall apart for many reasons. When they do, one — or both — parties may be financially responsible for covering deal-related expenses, such as fees for financial and legal advice. While sellers have traditionally agreed to be responsible for any breakup fees, this article discusses circumstances in which sellers require buyers to pick up at least a portion of the expenses. A sidebar explains why a buyer might willingly pay breakup fees.
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War games: Imagining the worst to realize the best
August / September 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 764
Abstract: In approaching an M&A transaction, it’s natural to assume that everything will go according to plan. But it’s important to think strategically and consider how things could go terribly wrong. One worthy exercise is to anticipate and analyze various worst-case scenarios so as to head off deal-destroying errors. This article discusses potential traps for buyers and for sellers.
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Ask the Advisor — Q. How much leverage should I use to finance my acquisition?
June / July 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 471
Abstract: Bank lenders are beginning to finance business acquisitions again, and with interest rates at record lows, debt financing looks more enticing than ever. However, buyers should be careful about assuming a lot of debt. Heavy leverage can make companies less nimble and more vulnerable to market volatility.
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Success vs. failure — It all depends on how you measure your merger
June / July 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 585
Abstract: Some issues in a merger can be anticipated and prevented, and some can’t. But one thing that can be controlled is how to measure the success of a merger. By setting realistic goals and indicators and closely monitoring postdeal performance, business buyers can spot potential problems and negative trends before they become intractable. This article talks about goals and key performance indicators (KPIs) and how they differ.
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Cost segregation studies — New Tax Court ruling rewards early birds
June / July 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 775
Abstract: It may seem premature to conduct a cost segregation study before agreeing to an M&A deal structured at least in part as an asset sale. But it’s important to complete this task as early as feasible, as indicated by a recent U.S. Tax Court decision that effectively prevents either buyers or sellers from modifying purchase price allocations after they’ve been agreed upon. This article discusses the case and explains why, during deal negotiations, buyers and sellers should try to find some common ground that yields mutually beneficial tax consequences.
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M&A today: Where opportunity meets competition
June / July 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 882
Abstract: After several years of an M&A market slump, merger activity is picking up in 2012, with proposed and completed deals up substantially in some sectors. As this article explains, cash-rich U.S. companies and private equity investors are showing increasing interest in buying. But the number of sellers is also growing, spurred by retiring baby boomers and soon-to-expire tax breaks, so there’s considerable competition for the best deals. A sidebar offers tips to help sellers stand out in the crowd.
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Ask the Advisor — Q. How should I manage employee resistance to our merger?
April / May 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 444
Abstract: No matter how thoroughly an M&A deal’s benefits are explained to employees, there’s still a chance they’ll challenge it. If enough of them — particularly managers and other opinion leaders — are dead-set against a merger, it could be in serious trouble. This column provides tips on minimizing strong and potentially disruptive resistance.
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Getting your small-scale deal right
April / May 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 738
Abstract: Mergers between small-capitalized, privately held companies are different animals from larger-cap and public company combinations. Because small, private companies have far fewer reporting requirements and dedicated staffpeople than their larger public counterparts, financial and operating information — and the quality of that information — can become a major stumbling block. This article suggests that the key to success is preparation, particularly for business buyers and sellers with no prior M&A experience.
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Be careful not to overvalue your target’s customers
April / May 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 675
Abstract: When access to a company’s customer base is the primary motivation for an acquisition, buyers need to ensure those customers really are as valuable as they seem. If not, the purchase could be a very expensive mistake. This article advises buyers to perform thorough financial due diligence, talk directly with customers and examine the target company’s management practices.
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Reverse mergers — New rules could mean new obstacles
April / May 2012
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 925
Abstract: A reverse merger often is considered a quicker and cheaper way for a company to go public, but new rules could make these transactions more difficult. The SEC recently applied the brakes to companies pursuing reverse mergers as a backdoor method of getting listed on major public stock exchanges. Although these rules won’t necessarily affect all plans, this article examines the potential obstacles. It explains what’s involved in a reverse merger, how the new rules promote greater transparency, and potential implications for companies and financial markets. A sidebar describes the three major steps involved in a reverse merger transaction.