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Smart Things to Know About Mergers and Acquisitions

Smart Things to Know About Mergers and Acquisitions

Tony Grundy

ISBN: 978-1-841-12086-7

Apr 2003, Capstone

262 pages

Select type: Paperback

Out of stock

$29.95

Description

Smart Things to Know About Mergers and Acquisitions is a concise, step by step account of how to conduct all the most important phases of M&A: including the strategic analysis, search process, deal-making, due diligence, integration and post-acquisition review. Illustrated with many checklists, practical pointers and real acquisition case mterial, Tony Grundy shows you all the Smart Things to Know About Mergers and Acquisitions.
Chapter 1 – Introduction – Acquisitions and Growth.
  • Acquisition logic and growth – the acquisition culture.
  • Acquisitions strategy and business growth.
  • The logic of acquisitions and routes to growth.
  • Acquisitions, alliances and organic development.
  • How acquisitions can add, dilute or destroy shareholder value.
  • Acquisitions and shareholder value (1) – types of acquisitions.
  • Acquisitions and shareholder value (2) – segmenting the value.
  • The acquisition process.
  • Integrating management perspectives – strategic, financial, organisational, tax, legal.
  • Alternatives to acquisition – alliances and organic development.
  • Divestment.
  • Structure of the book.
  • Summary.

Chapter 2 – The Acquisition Strategy.

  • Introduction – championing the strategy.
  • Strategy and objectives.
  • Gap analysis – where do acquisitions fit in?
  • Acquisition options.
  • Strategic and financial attractiveness, implementation difficulty, uncertainty and risk, and stakeholder acceptability.
  • Determining criteria – do’s and don’ts.
  • Detailed evaluation – external.
  • BMW and Rover case study.
  • Detailed evaluation – internal.
  • Summary.

Chapter 3 – Search.

  • Introduction.
  • Different search processes.
  • Approaching your target.
  • Summary.

Chapter 4 – Acquisitions – Strategic Due Diligence.

  • Introduction.
  • Evaluation, strategic attractiveness – the GE grid.
  • Financial attractiveness.
  • Evaluating implementation difficulty.
  • Uncertainty and risk.
  • Stakeholder acceptability.
  • Summary.

Chapter 5 – Gaining the Overview – Success in Due Diligence.

  • Introduction.
  • Markets and marketing.
  • Products and services.
  • Technology and IT
  • BMW and Rover case (continued).
  • Operations and people.
  • Manufacturing.
  • Summary.

Chapter 6 – Financial Evaluation.

  • Segmenting the value of an acquisition.
  • Bases of valuation – earnings, assets, discounted cash flows.
  • Price-earnings ratio.
  • Assets backing.
  • Discounted cash flows.
  • Scenarios and uncertainty and risk analysis.
  • Links to the negotiation process.

Chapter 7 – Managing the Deal.

  • Introduction – acquisition options and bargaining power.
  • Understanding deal-making agendas.
  • Deal scenarios.
  • Deal-making do’s and don’ts.
  • Funding the acquisition.
  • BMW and Rover case (continued).
  • Summary.

Chapter 8 – Acquisition Integration.

  • The role of the acquisition champion.
  • Integration success and failure.
  • Integration strategies – the alternatives.
  • Communication issues and the BMW/Rover case (continued).
  • Project managing integration.
  • Evaluating success.
  • Post acquisition learning and review.
  • Summary.

Chapter 9 – The Champneys Case.

  • Introduction and background.
  • Acquisition integration strategy – options.
  • The integration process.
  • The integration plan.
  • Managing the integration – the dynamics.
  • Case postscript.
  • Summary.

Chapter 10 – Conclusion.

  • The role of acquisitions – a review.
  • Diagnosis of your own skills and weaknesses.
  • Acquisitions and your career.

Appendix 1.

Granada and Forte case study.