Merger & Acquisition Focus
Showing 177–192 of 244 results
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Ask the Advisor – Q: How do I ensure I actually get paid for selling my company?
October / November 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 410
Abstract: Most acquisitions involve future payment obligations, such as installments paid by the buyer to the seller. To mitigate the risk that the buyer will default on its obligations, the seller must ensure it has a form of security. This article explains what’s involved in security negotiations and the types of security that might be offered.
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Torn between two buyers – How to handle an enviable dilemma
October / November 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 579
Abstract: Receiving serious interest from two buyers may seem like a business seller’s dream scenario. Competing buyers are more likely to bid up a company’s selling price and enable it to ask for favorable deal terms. But if sellers don’t play their hands right, they could potentially alienate both interested parties. This article explains the importance of researching potential buyers and understanding their strategic objectives.
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$1 doesn’t always equal $1 – Cash flow value is subjective
October / November 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 668
Abstract: When valuing a company for sale, not only might a buyer’s valuator disagree with a seller’s valuator, but experts working for different prospective buyers can arrive at different conclusions. This article discusses judgment calls that are often part of the valuation process. It covers what buyers are looking for, the period of time the valuation might reflect, and how discount rates are calculated.
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Keeping key players on board with incentives
October / November 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 732
Abstract: For many business buyers, their target’s executives and other key employees are a large part of the company’s appeal. An exodus of top talent after an M&A is announced can reduce the selling company’s value significantly. So sellers need to ensure that personnel remain on board during and after a merger. This article describes some of the financial and other incentives that can help companies retain key employees, while a sidebar explains how including them on the M&A deal team can ensure their loyalty.
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Ask the Advisor – Q. Do I need a corporate development team?
August / September 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 431
Abstract: Many companies are assembling “corporate development teams” to devise and implement strategies for growing their business — particularly through mergers and acquisitions. This article explains how to staff a team, what its responsibilities should be, and how its role differs from that of an M&A deal team.
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Accentuate the positive – Revenues can drive postmerger growth
August / September 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 566
Abstract: Almost all business buyers hope that their acquisition will lead to higher revenue growth in the future. Unfortunately, a significant percentage of deals won’t. Although it may be important to cut costs, the real key to a successful acquisition is to continue growing revenues after consolidation has taken place. This article explains how to sustain current revenue and work to generate revenue growth during the integration stage.
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Hedge your bets with a hedge fund
August / September 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 514
Abstract: Hedge funds continue to play an important role in the M&A marketplace despite getting caught up in the financial market meltdown of the past few years. Although they remain a minority in the ranks of prospective business buyers, hedge funds can’t be ignored, because they have superior access to capital and healthy appetites for risk. This article discusses the different ways that hedge funds can make an acquisition, and looks at some pros and cons of partnering with these types of buyers.
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When it’s time to sell – Internal and external factors can help you decide
August / September 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 929
Abstract: One of the toughest decisions a business owner will ever make is to sell his or her company. Sometimes sales are forced, but in most cases owners must carefully assess their company’s financial and competitive position and determine the best time to sell, given their own future plans. This article looks at the internal and external factors that can influence the timing of a sale, and how to prepare a company well in advance of any planned sale so that it’s an attractive target — regardless of market conditions. A sidebar considers the personal ramifications of selling.
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Ask the Advisor – Q. What is a reverse merger and when is it appropriate?
June / July 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 468
Abstract: Reverse mergers allow privately owned companies to merge with an existing (but typically dormant) public company and issue publicly traded stock on behalf of the merged entity. Since the U.S. economy nosedived in late 2008, reverse mergers have declined in popularity, but they began climbing again in the fourth quarter of 2009. Companies that want to go public but are put off by the cost of an IPO, or have been shut out of the tight credit market but require new capital, might consider a reverse merger. There are three basic steps to pursuing one.
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Seller’s endgame – It’s not over ’til it’s over
June / July 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 584
Abstract: Once a business seller has found a buyer, negotiated a fair price, and is in the process of completing any regulatory or legal requirements, it may seem that the deal’s essentially done. Not quite. Sellers have several final goals they must accomplish before they hand off the company for good. Most deals require them to perform last-minute paperwork, initiate long-term planning and prepare employees for the transition. There’s also the issue of whether and under what conditions seller management will stay on.
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The other part of the due diligence story
June / July 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 667
Abstract: In the due diligence process, financial and legal documents are central to understanding any company’s story. But buyers also must investigate their target’s operations to uncover potential deal-breaking issues. Operational due diligence generally can be divided among three key areas — marketing and sales, production, and administration — and this article lists some of the more important documents to request from the seller.
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Middle-market M&A has wind in its sails
June / July 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 751
Abstract: Buyers are beginning to look for acquisition targets again, and strategically positioned middle-market companies are likely to be the big winners in a resurgent M&A market. But middle-market sellers should expect buyers to perform more thorough due diligence. Sellers, therefore, need to devote extra care to this stage. A sidebar to this article explores whether strategic or financial buyers are expected to play a greater role in the year ahead.
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Ask the Advisor – Q. How should I handle compensation-related disparities in my merger?
April / May 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 457
Abstract: As this column explains, compensation may seem like a minor detail when buying or selling a company, but it can cause major headaches — particularly when the two companies’ compensation practices differ. The worst decision a buyer can make is to leave current compensation structures alone. But compensation decisions can be tricky because they usually require some tradeoff between cost savings and the pursuit of growth objectives.
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Combine and conquer – The big advantages of roll-ups
April / May 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 499
Abstract: Even the best-run middle-market companies eventually face size-related obstacles — including difficulty raising cash for strategic initiatives and an inability to negotiate better prices and terms with suppliers. A roll-up, where several smaller companies in the same or similar industries combine to form a larger company, can provide a solution. Roll-ups can result in an immediate increase in value. However, inattention to consolidation issues can lead to disaster, so companies should approach this strategy with caution.
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The name game: A critical acquisition decision you shouldn’t neglect
April / May 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 637
Abstract: Among the many decisions buyers must make after acquiring a company is the fate of that company’s name. The potential fallout from a name change — or, conversely, from keeping the name — means that careful thought and a sound strategy should go into the choice. A variety of options are available, but the best one rests largely on the purpose of the merger itself.
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Exercise caution when wading back into the M&A market
April / May 2010
Newsletter: Merger & Acquisition Focus
Price: $225.00, Subscriber Price: $157.50
Word count: 885
Abstract: Several key economic indicators suggest that the U.S. economy finally is turning a corner — which likely bodes well for the M&A market. However, the recession weakened many companies’ financial profiles, and business buyers will almost certainly be more risk-averse. Sellers need to walk a fine line between pouncing on what may appear to be a good offer and hanging back to mull over the options. A sidebar to this article explores whether it’s a good idea to seek seller protections in this buyer’s market.