With organic growth becoming more and more elusive, Mergers and Acquisition (M&A) activity within the RIA industry is at an all-time high. In 2019, RIA merger and acquisition activity accelerated its momentum compared to the halfway point last year, with a strong second quarter that saw 33 deals for a total of 65 for the first six months, according to the DeVoe & Co. Deal Book. While M&As may seem like "easy" growth for firms, the only easy part may be signing on the dotted line. Maintaining success by merging two firms hinges on a handful of key factors, and one of them is the careful integration of culture. In Integrating Culture in Successful RIA Mergers and Acquisitions, Greg Friedman, a veteran financial advisor, and Cynthia Greenfield, a leadership and change management coach, share their blueprint for achieving and maintaining a successful, positive work culture, tackling head-on the obstacles that may appear during an M&A event, and offering solutions based on real-world experiences. This book will show the evolution of a $2B RIA over the course of 10 years, and pull back the covers with real stories of obstacles, adjustments, and victories along the way.

If 75 percent of all mergers fail, what makes the other 25 percent succeed?

Mergers, acquisitions, and alliances are more vital today than ever before in driving business success. This indispensible guide offers proven strategies and sound solutions to the multitude of integration issues that inevitably arise, and shows how to create a combined business that meets its strategic and financial objectives, competes better, and offers personal and organizational enhancements. Dubbed "merger mavens" by Fortune magazine, the authors report lessons learned from their experience in over 100 combinations. Executives, managers, and employees alike--in all industries and sectors--will find useful examples, strategies, and tools here.

Praise for Joining Forces

"This book will help both M&A veterans and those new to the game. The authorsprovide great insights into the human, cultural, organizational, and strategic factors that matter in M&A success."--Richard Kovacevich, chairman and CEO emeritus, Wells Fargo & Co.

"Don't commit to the merger or acquisition without them I have personally witnessed how hard it is on everyone--employees, shareholders, communities, and especially executives--to work through an improperly managed merger. I have known Marks and Mirvis for almost twenty-five years and the only mistake our organization made was that we did not consult them soon enough. Their new book reflects unequalled experience and intellect. Don't merge, acquire, or be acquired without it "--Michael R. Losey, CEO (emeritus), Society for Human Resources Management (SHRM)

"Joining Forces is a terrific resource for managers who want to understand thehuman dynamics of mergers and acquisitions, and a must-read for those who have to lead their companies through one. It is based on the latest research and providespractical insights and advice from authors who know M&A inside out." --Edward E. Lawler III, Distinguished Professor of Business, Marshall School ofBusiness, University of Southern California

"The failure rate of mergers and acquisitions is unreasonable, unacceptable, and unnecessary," say Claude S. Lineberry and J. Robert Carleton in this much-needed resource, which outlines their unique, proven, and practical process for increasing the success of mergers and acquisitions. Written for all those with a vested interest in the success of the deal-board of directors, executives, managers, employees, and shareholders-and based on years of research and real-world experience, Achieving Post-Merger Success is a down-to-earth guide that gives stakeholders the tools they need to * Profile and assess corporate cultures * Identify potential or actual culture clash barriers to a merger or acquisition * Determine what to do to avoid, minimize, and resolve culture clash * Plan for efficient and effective post-merger cultural integration of the two organizations

Navigate cross border M&A for a flawless integration execution Cross Border Mergers and Acquisitions is a practical toolbox for corporate strategy and development professionals dealing with the many challenges involved in cross border M&A. With a detailed discussion of key market specifics and broadly-applicable critical insight, this book demystifies the cross border M&A process and provides a host of practical tools that ease strategic implementation. A geographical overview explains the trends in major M&A markets including Australia, Brazil, China, Russia, the U.K., and the U.S., and industry-specific guidance covers Financial Services, Aerospace and Defense, Health Care, Tech, Manufacturing, and more. Leading experts relate lessons learned while managing actual PMI(R) processes, and the discussion of cultural impacts and specific situational needs provides deep insight into the type of leadership a flawless integration requires. Corporate restructuring and internationalization efforts are increasingly relying on cross border mergers and acquisitions. Strategies, motives, and consequences are a complex navigational minefield, but this insightful guide provides solid, actionable guidance for leading a successful integration. * Understand the region-specific details that make an impact * Overcome common challenges and manage complex deals * Gain practical insight and valuable tools for leading integration * Learn the most current best practices for PMI(R) processes Cross border M&A is complex, with myriad challenges and obstacles inherent to the situation. Successful integration and a smooth transition are critical, and there's little wiggle room it's a situation where you have only one chance to get it right. Cross Border Mergers and Acquisitions is an essential guide to the process, with key tools for execution. (PMI is a registered mark of Project Management Institute, Inc.)

Clear, practical, step-by-step guidance through the nonprofit merger process

Using real-world examples, case studies, and enduring frameworks, "Nonprofit Mergers and Alliances, Second Edition" offers clear, practical, step-by-step guidance through the merger and alliance development process.

From assessing feasibility and planning for implementation to post-merger integration, this ground-breaking work points out pitfalls and offers insightful commentary in every chapter.Provides a comprehensive framework for designing and implementing effective collaborations of all kindsOffers the tools needed to effectively collaborate with potential partnersShows how nonprofit mergers are fundamentally different from for-profit mergers-and why board members need to know thisFocuses on the needs of the nonprofit sector, including cultural compatibility and compassionate management practicesShows nonprofit managers and board members how to make their way through the merger process without repeating Wall Street's mistakes

Insightful and realistic, "Nonprofit Mergers and Alliances, Second Edition" equips you with the tools and knowledge you need to create effective collaborations.

Ease the M&A process with a more effective integration plan

"The Complete Guide to Mergers and Acquisitions" is the ultimate handbook for planning and managing post-merger integration. Packed full of "how to" guidance, tools, templates and resources that have been put to the test on numerous due diligence and integration efforts around the world, "The Complete Guide to Mergers and Acquisitions" has been the go-to guide for firms seeking to maximize the value of their deals since the release of the first edition in 1999.

Poor integration management virtually ensures that a merger or acquisition will fail to meet financial and strategic goals. "The Complete Guide to Mergers and Acquisitions" provides the information that enables firms to quickly and prudently capture projected cost and revenue synergies, and to move the combined organization forward. The book addresses strategic deal considerations, due diligence, integration management, people dynamics and cultural integration, common integration mistakes, communications strategies, and provides actionable steps toward creating measurable, positive results throughout the integration process. The updated third edition contains new information and tools to help firms in any industry manage deals of all sizes, including: Results of The State of M&A Integration Effectiveness Survey, 2014A new chapter on the M&A process deal stages, with an expanded Deal Flow ModelFindings of substantial M&A research from various studies in multiple industries and organizations, supporting the concepts presented throughout the bookNew and revised tools and templates for due diligence, integration, and results measurement and reportingNew case examples of recent transactionsHighlighted 'Key Principles' throughout each chapterA summary of key points at the end of each chapterDiscussion questions addressing the key themes of each chapterA 'rapid assessment' diagnostic regarding the key elements of each chapter, which can be completed for any organizationA revised chapter on taking your M&A game to the next level - essential requirements for building M&A capabilities into a consistently successful enterprise competency

Merger and acquisition activity across the globe continues to grow, and is also playing a major role in the development of expanding markets. A well-managed integration effort is essential to success, and failure means a tremendous waste in terms of time and money, as well as the rapid destruction of shareholder value. "The Complete Guide to Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level, Third Edition" is an invaluable resource to guide firms in managing M&A integration and maximize the value of their deals.

This highly topical book provides a multi-disciplinary perspective, ranging from finance to psychology, on the subject of mergers and acquisitions.
Each chapter introduces key frameworks that relate to a particular perspective and incorporates case studies where these frameworks can be used for interpretive and diagnostic purposes
Invites readers to apply the frameworks as maps or tools for analyzing their own organizational experiences via a series of general discussion questions.
Seeks to develop its perspective by offering analytical insights into actual experiences of mergers and acquisitions in different global contexts, successful and unsuccessful, presenting new empirically based evidence to support the arguments
Drawn from around the world, each author is a leading exponent in his or her perspective on mergers and acquisitions

Part of the "Images of Business Strategy Seri"es which interrogates conventional categories in today's fast-changing business world. By applying new perspectives, books in the series redefine established territories and extend our view of important business phenomena. Select international contributions to each volume are integrated by the Editor to provide a richer insight into the business landscape and open up new conceptual horizons.

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When the world's two largest steel producers went head to head in a bitter struggle for market domination, an epic corporate battle ensued that sent shockwaves through the political corridors of Europe, overheated the world's financial markets and transformed the steel industry. Billions of dollars were at stake. At the heart of the battle were two men: Guy Dolle, Chairman and CEO of Luxembourg-based Arcelor, the world's largest steel producer by turnover and Lakshmi Mittal, a self-made Indian industrialist and the richest man in Great Britain. Only one could prevail . . .

In a business climate marked by escalating global competition and industry disruption, successful mergers and acquisitions are increasingly vital to the growth and profitability of many corporations. If history is any guide, 60 to 70 per cent of new mergers will fail - and will destroy shareholder value. To date, analyses of the M&A failure rate tend to focus on individual causes - e.g., culture clashes, valuation methods, or CEO overconfidence - rather than examining the problem holistically. The Value Killers is the first book based on a holistic analysis of successful and unsuccessful transactions. Based on research, interviews with top executives, and case studies, this book identifies the key causes of failures and successes and offers prescriptions to increase the odds that future transactions will deliver all the anticipated synergies. The Value Killers offers practical advice in the form of 5 Golden Rules. These rules will help managers and boards to ensure that target companies are properly valued; potential synergies and risks are identified in advance; checks and balances are installed to make sure that the pros and cons of the transaction are rationally and objectively evaluated; mechanisms are created that will trigger termination of bad deals; and obstacles to successful post-merger integrations are assessed (and solutions developed) before the deal closes. Each chapter includes questions for executives considering future M&As to allow them to see whether they are on the right track or not.

Mergers and acquisitions continue to be actively pursued by firms across the globe, yet many of them are unsuccessful. This thought-provoking book reviews both successful and unsuccessful mergers and acquisitions, exploring the reasons why so many fail to live up to expectations.

Drawing on the latest scholarly research, the book presents original ideas about the merger and acquisition strategy, the effects of mergers and acquisitions on performance, and the critical processes involved in implementation and integration. It also explores new areas, such as the role of culture and leadership, and the importance of knowledge transfer and learning. Contributors include highly respected scholars, such as Joe Bower, Harbir Singh, David Jemison and Miriam Erez, as well as up-and-coming stars, such as Jeff Reuer, Tom Brush and Rikard Larsson. Together, they stretch the boundaries of what we know about these complex phenomena.

A complete how-to guide to a 100% financed business… How to Buy a Great Business with no Cash Down Bestselling author Dr. Arnold Goldstein has successfully purchased 12 companies—including retail stores to printing plants—and he did it without investing any money of his own! Using his proven formula for success, he also has guided hundreds of other enterprising but financially limited people into their own 100% leveraged businesses. Now, the master of the "No Cash Down" takeover is ready to help you too. In this important new book, he reveals all his secrets, including how to successfully find, qualify, evaluate, structure, finance, negotiate, and take over any type or size business…using little or no cash of your own. In How to Buy a Great Business With No Cash Down, you’ll

• Get over 50 proven "no cash down" techniques, strategies, and formulas that insure success through each phase of the buy-sell process
• Discover how to prospect the very best no-cash deals
• Learn how to avoid costly errors and common pitfalls
• Find out how to calculate what a business is worth
• Get all the same handy checklists, forms, and sample agreements the author uses
• Learn how to attract the right investment partners
• Discover how to negotiate a winning deal…each and every time!
• Find out how to quickly sell the business for an unbelievable profit

This volume of Technology, Innovation, Entrepreneurship and Competitive Strategy is devoted to research aimed at understanding success and failure factors of mergers and acquisitions in entrepreneurial firms. Research topics offer insights into the relationships of performance factors in all stage of M&As, such as planning, negotiation and post-merger integration. Contributions are multidisciplinary and cross-cultural, and tackle key issues from a variety of theoretical and empirical perspectives.

The comprehensive and crystal-clear companion to making the right acquisition decisions and executing them well: Acquisition is the most powerful corporate development tool available to companies and will therefore always be on the business agenda. Very practical and easy to follow: diagrams, checklists and case studies throughout. The authors have an accessible style and approach The Audience: High level entrepreneurs, senior executives, directors, and business strategists. Updates include: new and updated case studies, analysis of different types of company and how this could affect the transaction, a guide to working with external advisors.

A widespread misunderstanding concerning leveraged buyouts (LBOs) is the belief that they accomplish little but the ruin of companies and the loss of employment. How else could it be? Until recently, journalists, including much of the business press, have depicted LBO specialists as generally greedy, if not sinister, forces whose activities compound the dislocations of modern American economic and social life. This kind of criticism reached a crescendo in the press and in Congress at the end of the 1980s, and Kohlberg Kravis Roberts found itself in the middle of the controversy. Based on interviews with partners of the firm and on unprecedented access to KKR's records, George P. Baker and George David Smith have written a definitive account of how KKR has approached LBOs in a book that will appeal to the specialist and general reader alike. The authors focus on KKR's founding, evolution, and innovations as ways to understand issues in modern American business. In examining KKR as a unique form of enterprise--one that subscribes to a set of alternative perspectives on business and value creation--the book bridges the gap between public perception and academic knowledge of how financial innovation impacts economic life. The firm's approach to leveraged buyouts was an important aspect of the corporate restructuring and governance reforms in the American economy from the mid-1970s through 1990 (the years of what some have called the "leveraged buyout movement"). KKR and other companies fundamentally altered the prevailing perception of the role of debt in the modern American corporation and established an alternative model for organizing and managing corporate enterprises. KKR financed the companies it acquired with high levels of debt, while linking their ownership to management. It then imposed rigorous monitoring by the board of directors over the companies in its portfolio. This combination of factors forced managers to concentrate not on growth but rather on how to achieve value through whatever means was most appropriate to the company's circumstances. The purpose of the leveraged buyout was to realize, or "create," value in companies by reforming their management systems. KKR's approach to restructuring the relationship between owners and managers in a highly leveraged firm rested on a basic principle: Make managers owners by making them invest a significant share of their personal wealth in the enterprises they manage, and they will have stronger incentives to act in the best interests of all shareholders.

Unlike the M&A fever that gripped so many large, publicly held corporations in the 1980s, the mergers and acquisitions activity of the 1990s is primarily centered around small and midsize businesses. But the sale and purchase of these companies present a unique constellation of problems, pitfalls, and challenges that may lead the unprepared buyer or seller to disappointment, difficulty, or even disaster. In this book—the only mergers and acquisitions guide that focuses on small and midsize companies—experts from every profession and specialty related to the sale or acquisition of a business lead buyers and sellers step by step through each phase of the M&A process. Their aim is to help both parties avoid hazards and mistakes and arrive at a fair and mutually profitable arrangement.

Beginning with the basics, the book offers an overview of the market: the size and type of businesses covered; who the buyers and sellers are; why businesses are put up for sale; how to prepare a business for sale; and how to size up a business that is on the market. The book's second section looks at financial and valuation issues, a particularly important area when purchasing companies that are not subject to SEC regulations. Coverage includes normalizing historical financial statements, using financial forecasts, determining real ROI, valuation methods for midsize companies, and determining the value of partial ownerships, intangible assets, and business risk characteristics.

After a detailed examination of legal issues, the book explores the roles of outside professionals in the M&A process, including intermediaries, attorneys, accountants, business appraisers, and machinery and technical appraisers. The book concludes with a look at various ways of structuring the final deal and the pros and cons of each arrangement from both the buyer's and seller's perspectives.

With 36 self-contained chapters that can be read in sequence or consulted independently, Mergers and Acquisitions for Small and Midsize Companies is both a comprehensive M&A tutorial for newcomers to the process and an indispensable reference for professionals involved in any aspect of the buying and selling of small and midsize companies.

A Step-by-Step Guide to Buying and Selling a Business from a Distinguished Group of Recognized Experts

Mergers and Acquisitions Handbook for Small and Midsize Companies is the perfect guide for anyone who is selling a business or hoping to buy one. Each of the nearly 30 contributors is a recognized expert in a particular aspect of the M&A process. These authors explain their topics from the ground up, assuming no previous experience on the part of the reader and addressing the subject from every conceivable angle.

Areas of discussion include:

• Fundamentals of the mergers and acquisitions process
• Financial and valuation—normalizing historical financial statements, utilizing forecasts, valuation methods, and more
• Legal aspects—disclosure requirements, due diligence, advisor engagement letters, closing documentation
• The role of outside professionals—intermediaries, attorneys, accountants, business appraisers, and machinery and technical appraisers
• The deal itself—deal structures, creative financing strategies, a case study, pros and cons of ESOPs, and much more

Few business activities can match Mergers & Acquisitions (M&A) in terms of the potential for reward and for danger. A successful merger or acquisition can allow a mid-tier company to leap into the top tier, bringing rich rewards to that company, and its employees and shareholders. The failure of a merger can, on the other hand, have a devastating impact, resulting a loss of credibility, destruction of value and in some cases bringing the parties to ruin. Depending on how you measure it, between 50% and 80% of M&A deals fail to attain their objectives, before or even after the deal is done. "Practical M&A Execution and Integration" is all about maximising your chances of success.

Merging, de-merging, acquiring or acquired, if your organisation is involved, or likely to be involved, you will need to manage the process, and following this Handbook will give you a clear, simple framework to get the job done and help your organisation move on and attain the benefits and promise of the deal.

The book covers the following core topics:

Fundamentals of M&A; the reasons for M&A, types of M&A deals and the challenges they presentM&A RegulationSuccessful M&A, covering M&A power and providing a detailed look at the processes and people involvedDelivering M&AThe unique issues of Banking M&A, which differs significantly from other types of M&A deals.

The final section consists of document templates and suggested tables of contents which are designed to be used alongside the advice in the book, thus making "Practical M&A Execution and Integration" the complete guide to constructing a successful M&A deal.

This is the fast track route to mastering mergers and acquisitions. It covers the key areas of M&A, from detailing how to structure different the types of transactions to meet varying objectives to the history of M&A activity and the impact of the Internet and other new technologies. It includes examples and lessons from some of the world's most successful businesses, including Daimler-Chrysler, Vodaphone-Mannesman and UFJ Bank. It also includes a glossary of key concepts and a comprehensive resources guide.

Mergers & Acquisitions For Dummies (9781119543862) was previously published as Mergers & Acquisitions For Dummies (9780470385562). While this version features a new Dummies cover and design, the content is the same as the prior release and should not be considered a new or updated product. The easy way to make smart business transactions Are you a business owner, investor, venture capitalist, or member of a private equity firm looking to grow your business by getting involved in a merger with, or acquisition of, another company? Are you looking for a plain-English guide to how mergers and acquisitions can affect your investments? Look no further. Mergers & Acquisitions For Dummies explains the entire process step by step--from the different types of transactions and structures to raising funds and partnering. Plus, you'll get expert advice on identifying targets, business valuation, doing due diligence, closing the purchase agreement, and integrating new employees and new ways of doing business. Step-by-step techniques and real-world advice for making successful mergers and acquisitions Covers international laws and regulations How to take advantage of high-value deals Going beyond the case studies of other books, Mergers & Acquisitions For Dummies is your one-stop reference for making business growth a success.

This book provides an insight in the phenomenon of Mergers and Acquisitions (M&A), including the various forms of corporate restructuring. It highlights the importance of M&A as a strategy for faster growth in the corporate. The book provides an enriched experience of the art of valuation with detailed description of M&A process, deal structuring and financing. The book also provides the broader perspective of Accounting and Regulatory aspects of M&A. While covering the conceptual underpinnings of M&A, the book supplements it with real life examples on each sub-topic with various numeric examples. Thus the judicious blend of theory and practical aspects, through numerical as well as real life case-studies, make the book a source of vast knowledge in the complicated and dynamic world of M&A.

The essential executive M&A primer, with practical tools and expert insight Mergers and Acquisitions Basics provides complete guidance on the M&A process, with in-depth analysis, expert insight, and practical tools for success. This new second edition has been updated to reflect the current M&A landscape, giving busy executives the ideal resource for navigating each step in the process. Veteran executives relate guidelines, lessons learned, and mistakes to avoid as they explain how M&As work, identify the major players, and describe the roles involved in a successful transaction. Both buyer and seller must consider a broad range of factors, and this essential guide provides checklists, forms, sample reports, and presentations to help you avoid surprises and ensure your organization's full preparation for the deal. Equity investments, valuation, negotiation, integration, legal aspects, and more are explained in detail to provide a foundational primer for anyone seeking to clarify their role in the process. Mergers and acquisitions are becoming ever more critical to the growth of large and mid-sized companies. This book balances depth and breadth to provide a one-stop guide to maximizing the financial and operational value of the deal. * Identify key drivers of purchase or sale * Understand major roles, processes, and practices * Avoid valuation detractors and negotiate effectively * Overcome common challenges to successful integration Effective M&As are highly strategic, solidly structured, and beneficial on both sides. It's a complex process with many variables, many roles, and many potential pitfalls, but navigating the deal successfully can mean the difference between growth and stagnation. Mergers and Acquisitions Basics is the comprehensive resource every executive needs to understand the ins-and-outs of strategic transactions.

The striking feature of the takeover market in the US in recent years has been the lightning pace of changes in strategy due to innovations in takeover defense. This book explains in a clear and authoritative manner the best strategies and the traps from the standpoints of both bidders and targets.
The takeover business has become giant and complex with its own special jargon. It is highly regulated by federal and state laws. Ingenious business and legal strategists are constantly generating new methods of thrust and parry to advance their clients causes. This book guides the reader through this complex area. The authors base their advice on what they, their clients and the takeover markets have found to be the most important strategic and legal consideration.
The complete text of the main contracts in the highly controversial Time-Warner deal is reproduced with a full explanation clause by clause of the legal and business negotiating problems faced by both sides. Comparisons with other acquisition transactions illustrate for the specialist and the non-specialist exactly what is going on in acquisition negotiations. Other appendices contain a detailed glossary and key statutes and rules. The book is an unmatchable source for all those involved in or contemplating acquisitions, takeover financing or takeover defense in the U.S.

What makes the ""Advances in Mergers and Acquisitions"" series stand out is its focus on all three characteristics that make up this research field - studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad, and inclusive, approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The collections published each year provide cutting edge ideas by leading scholars on a global scale. Doing so not only broadens the questions being studied, but also helps researchers consider the inter-relationships among different perspectives. In the final analysis, the best way to build understanding around a topic as diffuse as mergers and acquisitions is to be both integrative, and expansive, in choice of research questions and theoretical underpinnings. ""Advances in Mergers and Acquisitions"" offers this unique perspective, not easily found elsewhere, that will help scholars think about mergers and acquisitions in new ways, building our knowledge base on this critical topic.

This book reviews the past 116 Japanese outbound acquisitions in three decades and determines success and failure, with the goal of explaining what works. Dr. Matsumoto emphasizes that such acquisitions are part of a long-term strategy and should not be judged based short-term gains and losses, especially short-term changes in company stock prices. The book also highlights common pitfalls hidden within the expected benefits of these overseas acquisitions. Dr. Matsumoto provides valuable insights for executives, corporate managers working on strategy, finance and overseas development, practitioners, researchers and MBA students trying to succeed in cross border merger and acquisitions using 16 case studies and careful investigation.

This book analyses mergers and acquisitions within the broader framework of strategic decisions. Existing studies on corporate acquisitions have produced a variegated and inconclusive spectrum of findings on the strategic mechanisms that contribute to value creation. By building on the widespread recognition that firms substantially differ in their ability to carry out successful acquisitions, this book focuses on the diverse effects of experiential learning. A unique systematic literature review is provided, which thematically highlights the connections between various streams of research. The author aims to systematise our knowledge on experience and learning dynamics in corporate acquisitions, providing a detailed analysis of conceptual implications and presenting potential avenues for future exploration.