Containing practical guidance for program managers involved in high tech mergers and acquisitions who need a framework. This book describes the top 10 industries for growth, the decision making process, criteria and the playbook to integrate products, people and process. It provides checklists and dashboards to the deal flow for the high tech industry, merger and acquisition scenarios, dashboards to best in class organizational effectiveness to assess the areas of improvement as well as action summaries to remind you of what you need to do to prepare for the next merger and acquisition in the future. It also combines information for program managers, project managers, individual contributors and executives into a single package they can apply directly.

A leadership blueprint for managing cross-cultural issues in any M&A deal

In our rapidly expanding and increasingly volatile global economy, mergers and acquisitions are becoming the strategy of choice for businesses seeking to stimulate growth while managing risk. As more and more M&A deals are struck between global organizations, difficult new issues involving cultural differences have arisen.

In "The Global M&A Tango," international management experts Fons Trompenaars and Maarten Nijhoff Asser explain how to detect and manage these issues before they become major problems.

Drawing on the world-renowned Trompenaars Hampden-Turner Cross-Cultural Database and Culture Compass, the authors illustrate how widely cultures can differ and, by reconciling the dilemmas created by that difference, how they can be integrated quickly, efficiently, and effectively.

"The Global M&A Tango" helps you meet all the challenges of cross-national M&A by: Creating common mission, vision, strategy, and values Developing trust across value boundaries Enabling people with different cultural perspectives to engage in valuable discussions

Change-management programs all too often ignore the culture perspectives of the individuals and groups involved--and it's often why organizations fail to realize the benefits that prompted the integration in the first place.

With "The Global M&A Tango," you have everything you need to integrate two old entities into a powerful new organization poised for dramatic growth in the coming decades.

Sooner or later, every business owner will need to transfer ownership of their business. Selling the business is the final chapter of the owner's role in building it. For most business owners, this is an emotional and sometimes overwhelming event. Many business owners have built a company or owned it for years, even decades. They are at it night and day, 24/7 - thinking about the business, cultivating customer relationships, and solving problems. They eat it, drink it and sleep it. It is no surprise, then, that selling the business is an emotional process. It's also a complex process. There are financials to audit, profitability to demonstrate, operations to tighten, confidentiality to maintain, titles to transfer, a price to negotiate and much more. In addition, the business must continue to operate during the process. Now in its third printing, Tom Lyon's, Exit Strategies has helped thousands of business owners wade through and understand the complexities and the emotions involved in selling a business. The principles in this book are designed to help you avoid costly mistakes and instead exist your business with less stress and more money in your pocket.

A selection of republished corporate finance articles and book chapters that can serve as an advanced corporate finance supplementary text for courses that use no textbooks. Combining convenience and an affordable price with retypeset pages and a high-quality index, the 600 pages of volume one, "Takeover Activity, Valuation Estimates and Sources of Merger Gains," focus on classical issues such as the existence and source of merger waves, empirical estimates of takeover announcement returns and the division of takeover gains between bidders and targets, and tests for potential sources of takeover gains (primarily involving estimation of industry wealth effects of takeovers), introducing students to modern scientific evidence about corporate takeovers. Including an index and new introduction, this volume will simplify and facilitate students interaction with new concepts and applications.
Provides a status report about modern scientific evidence on corporate takeoversExposes students to new methods and empirical evidence while reading high quality primary materialOffers a concise and cost-efficient package of journal and book articles for advanced corporate finance students"

"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

Mergers and acquisitions can be tumultuous for executives. Target companies can expect to lose close to 40 percent of their top management team within two years after acquisition. Executives who stay often lose status and autonomy and view their company's acquisition as detrimental to themselves both personally and professionally. It is common for acquiring firms to replace target executives with their own shortly after an acquisition. The evidence, however, shows clearly that doing so leads to lower target company performance. Why, then, are acquiring firms so quick to replace target company executives after an acquisition? This book provides executives with an in-depth look at the consequences of M&As for acquired top management teams. It examines M&As as a corporate growth strategy, the importance of top management teams to a firm's long-term performance, the reasons why executives depart after an acquisition, and the effects of these departures on target company performance. It then discusses when executive turnover may be desirable or undesirable and how acquiring firms can more effectively manage target company executive teams during the integration process. An understanding of these leadership issues will play an important role in determining merger success.

In today's business environment, market maturity and globalization have increased the level of competition, making it more difficult to capture and increase market share. This has led to the age of mergers and acquisitions (M&A), where the easiest way to grow your business and deliver shareholder value is to acquire and merge companies and their revenue streams. The net result is that most people will either have to experience and survive M&As firsthand, or at least know someone that has gone through a merger or acquisition in their professional career. Though management will paint M&As as a "win-win" for all those involved, the reality is that the only people who win are the executive management teams. The remaining employees are trapped in the middle trying to make M&As work for their own survival. "10 Truths of Mergers and Acquisitions: A Survival Guide" lays out the reality of what happens when companies are acquired or merged. Starting with The Truth of Mergers: "There are no mergers, only acquisitions," each truth is conveyed with humor and irony, backed by real-life examples, and offers guidelines for success to help you survive the situation. Dr. C. M. Cower shares his own personal M&A mistakes and lessons learned, preparing you to delicately tread through the minefield of acquisitions and mergers.

"When is the Deal Done?" The greatest barrier to successful integration is cultural incompatibility. Undervaluing or ignoring the human dynamics related to an M&A transaction can prompt the departure of key talent that were among the assets that made the acquisition attractive to the buyer in the first place. The importance of an organization s culture, particularly as a risk factor in M&A integration, cannot be underestimated. Harvard researchers report that firms that managed their culture realized a nearly seven-fold increase in revenue, compared with only 166% for firms that did not manage culture. You will discover how using transition teams, an integration manager, and a comprehensive employee communications strategy rank among the best practices the 5C Integration Model for strengthening your M&A Integration the 5C Self Assessment workbook for your M&A planning the importance of the human dimension to overall M&A success.

As industries worldwide move toward consolidation, niche companies need to take advantage of strategies that are forward-thinking and anticipate new trends. "Beating the Global Consolidation Endgame" identifies nine key strategies that niche companies must master in order to outperform their markets and gain the largest benefits from consolidation. It draws from a landmark study conducted by global management consulting firm A.T. Kearney of more than 600,000 small to mid-sized niche companies over a 15-year period.

A.T. Kearney thought leaders Dr. Fritz Kroeger, Dr. Andrej Vizjak, and Michael Moriarty reveal nine successful Endgame niche strategies while explaining how these strategies are most viable at certain points during consolidation. In order to time the strategies accurately, all decision makers must know what stage of industry consolidation they're in, along with the implications of each stage. This ensures a company's survival and success against global consolidators.

Taking you through the Merger Endgame Theory lifecycle, the authors show you how to develop stable niche strategies by: Determining your industry's Endgame position and expected evolution of consolidation in coming years Identifying industry sectors with comparable models to illuminate strategic success factors for your sector Knowing the strengths and weaknesses of Endgame consolidation winners and losers Spotting potential market splits and new configurations for the value-creation chain Determining the best niche options and the best sequence for executing them

These action steps are supported by case studies of leading companies around the world, including BMW, NetJets, Swatch, Ducati, and KPMG--which show how these niche fighters developed competitive advantage, survived market collapses, and delivered superior customer service while increasing their market share.

Accounting expert Steven Bragg equips you with a working knowledge of the complete M&A process throughout "Mergers and Acquisitions: A Condensed Practitioner's Guide," with comprehensive, reader-friendly, and straightforward advice on principal business terms, as well as the due diligence process, the customary contractual provisions, legal background, and how-to's applicable to business acquisitions. Destined to become a well-thumbed addition to every manager's library, this essential guide addresses the entire acquisition process with pragmatic information that will serve you as an excellent reference whether you are a novice or expert acquirer.

This highly readable book from Lou Richard, a 50 year veteran of International Corporate buisness and founder of Newport Capital, provides a practical explanation of key technical and tactical aspects of mergers and acquisitions, and also provides insightful real-life descriptions - "digressions" - of transactions as they happened, proving that truth is indeed stranger than fiction.

"In medieval times, stone castles dotted the countryside of Europe. They attracted itinerant merchants and craftsmen who would wander from castle to castle selling their labor, products, and services. When wars occurred between the castle rulers which resulted in one castle taking over another, it was a common practice of the time to plunder the castles treasures, take prisoners, and scatter the occupants of the enemy castle throughout the countryside. Today, corporate castles of steel and glass dot the countryside of many modern nations. Itinerant professional college students and workers wander from corporate castle to corporate castle seeking employment much as their ancestors might have done during the middle ages. When modern economic wars between castles occur and one corporate castle takes over another corporate castle, the assets of the acquired corporation are taken over and the occupants of the former corporation are either incorporated into the new corporation or laid off."
-T. H. Henning, From "Web Based Corporate Institutes"

Defense industry and commercial industry corporate executives who are searching for strategies and solutions to better manage people in multicultural corporations may find a solution in "Web Based Corporate Institutes." The case for developing a web based corporate institute as one way to resolve human resource development issues is thought provoking and insightful. The author provides highlights from his experience at International Business Machines Corporation, Loral Corporation, Lockheed Martin Corporation, Litton Industries TASC (now a division of Northrop Grumman), and Veridian (recently acquired by General Dynamics).

One of the main and most controversial issues in competition policy is that of merger control. Work by academic researchers and practitioners during the last decades has resulted in laying a theoretical foundation for merger control and some practical applications for it have been developed, but many questions surrounding the concept remain to be answered. For example, what kinds of mergers are so harmful that they need to be prohibited by the state? Ulrich Kirschner starts with a brief overview of the different effects a merger can have and then continues with a detailed exploration of practical assessment approaches. The work focuses on applied empirical methods, commonly used measures based on market structure, and on barriers to entry, setting out the advantages and disadvantages of each type of approach used for merger assessment. The concluding chapter deals with the specifics, and possible consequences, of the current European Competition Policy. The book, which is designed for the academic researcher and interested students, is a welcome contribution to the lively and important debate surrounding the vital topic of merger control in this age of globalization.

Corporate Governance and regulatory presssures have been much in the news lately. How they affect the bottom line of corporations has been difficult to quantify, and research is just beginning to be published that addresses this crucial question. This book is the first collection for new research about the impact of takeover regulation and corporate governance on M&A financial results. It will be essential reading to any M&A specialist, an investment banker, a hedge fund manager, a private equity director, or a venture capitalist. Also a must read for financial analysts who follow M&A targets. The book presents research from around the world so it provides a global perspective on this important topic.
*The first and only book of research on takeover regulation and corporate governance affecting M&A results
*Stands out from all the "How to" books on M&A and M&A disaster books because it provides solid high-quality research on what works and how different decisions affect company and shareholder value
*Research provides a guideline for decisionmakers in investment banks, private equity companies, and for financial analysts

Security metrics is the application of quantitative, statistical, and/or mathematical analyses to measuring security functional trends and workload. In other words, tracking what each function is doing in terms of level of effort (LOE), costs, and productivity. Security metrics management is the managing of an assets protection program and related security functions through the use of metrics. It can be used where managerial tasks must be supported for such purposes as supporting the security professional's position on budget matters, justifying the cost-effectiveness of decisions, determining the impact of downsizing on service and support to customers, etc.
Security Metrics Management is designed to provide basic guidance to security professionals so that they can measure the costs of their assets protection program - their security program - as well as its successes and failures. It includes a discussion of how to use the metrics to brief management, justify budget and use trend analyses to develop a more efficient and effective assets protection program.
- Over 100 checklists, flowcharts, and other illustrations depict examples of security metrics and how to use them
- Drawings, model processes, model procedures and forms enable the reader to immediately put concepts to use in a practical application
- Provides clear direction on how to meet new business demands on the Security Professional

This is a reprint of a previously published work. It is an account of corporate mergers--the most important and dynamic trend when this book was written. Special emphasis is placed on intrigues, deals, and methods that precede and accompany such mergers.

Today's Most Popular, Powerful Tools for Creating Shareholder Value--How and Why They Work, and Which Will Work Best for You

The business world is just now beginning to regroup from its greatest merger wave in history. But after more than half of all acquisitions failed to enhance shareholder value, the "bigger is better" mantra has given way to new, leaner value-creation strategies--and to the increased use of subsidiary equity redeployments (SERs) to redeploy and gain access to value hidden in subsidiary operations.

"Restructuring for Growth "is the first comprehensive guide to creating value by redeploying the equity value of subsidiary operations and assets. It provides new insights on how virtually any organization can successfully leverage this equity in order to: Create value for impatient shareholders Increase focus Use partnerships and alliances Restructure balance sheets Obtain cash from--and ensure the success of--non-core operations

In the broad middle ground between complete ownership and total divestiture, SERs provide unmatched opportunities for both increasing corporate effectiveness and building shareholder value. Let "Restructuring for Growth" help you determine if, when, and why an SER may be effective for your organization, and provide you with innovative opportunities to build shareholder value and thrive in today's challenging business arena.

"Building the value of a subsidiary--and the parent--is a pressing concern for much of corporate America. "Restructuring for Growth "addresses the creation of shareholder value by companies through the redeployment of the equity of a wholly or partially owned subsidiary operation..."--From the Preface

Today'scorporate world has been turned upside down. Many of the strategies employed in the past to create value for shareholders have had the opposite effect and are being unwound. As a result, impatient investors are demanding that companies employ new approaches to maximize all of their assets--and create value for investors.

"Restructuring for Growth "is the first book to take a detailed look at subsidiary equity redeployments (SERs), which have proven remarkably successful at creating new value for both parent companies and their shareholders. This one-of-a-kind resource offers practical advice on creating value in today's turbulent private and public stock and merger markets. It details the goals, objectives, advantages, and challenges and lays out critical tax, legal, and accounting considerations of today's most widely-used and effective subsidiary equity redeployment (SER) strategies, including: Spin-offs Carve-outs Partnerships with investors Corporate alliances Mergers

Incorporating need-to-know insights, this important work also contains numerous examples and cases for each strategy. It provides a behind-the-scenes look at how the strategies were structured and deployed, and a rare insider's access to the SER successes and failures of leading companies ranging from General Motors to Palm. Many of these cases are available from no other resource, and feature commentary from company executives on the firing line about the strategies they selected.

In "Restructuring for Growth," Wall Street veteran John Michaelson provides unique and rarely shared insights into the inner workings of corporate finance and details the challenges of working with Wall Street. He gives you theinformation and confidence you need to select, deploy, and manage smart SER strategies--to meet the value creation demands of impatient investors, corporate management, and boards of directors.

This book explores the world of mergers and acquisitions through the case study methodology utilized by business schools across the globe. Students and practitioners can step inside each transaction and through careful analysis, carve out the pertinent issues and draw their own conclusions as to the worthiness of the transaction. The casebook was written to stimulate class discussion, analysis, and intellectual thought and is not a critique of an effective or ineffective management situation

Papers presented at a conference held at the Leonard N. Stern School of Business, New York University, on May 20, 1988, and sponsored by the Salomon Brothers Center for the Study of Financial Institutions. The 1989 edition of this proceedings volume was published by Dow-Jones-Irwin. Academics, legis

This is a reprint of a previously published work. It deals with the effects on the persons--employees and managers at all organizational levels --who are caught up in mergers.

Journalist Wojahn takes a critical look at the 1968 merger of food giant General Mills and game industry leader Parker Brothers. Drawing upon over 100 hours of interviews with persons involved in the merger, she traces the events that led up to the divestment and restructuring of Parker Brothers in

Faced with new levels of savage competition, tens of thousands of companies, including fierce competitors, are sharing their resources and expertise to develop new products, achieve larger scale economies, and gain access to new technology and new markets. These strategic alliances are justifiably hailed by many as the competitive weapon of the 1990s. But because they are blurring and reshaping the very structure and boundaries of corporations in unprecedented ways, the process of designing and managing these alliances confronts managers with the awesome task of inventing theory and practice on a daily basis. Up to now, they have had few places to turn for guidance.

In "Partnerships for Profit, " Jordan D. Lewis, an internationally recognized expert on strategic alliances, now provides the first full-scale analysis of this surging global phenomenon. During five years of intensive field research, including 500 interview hours with more than 100 executives from some 40 American, European, and Asian firms, Lewis has observed firsthand some of the most successful strategic alliances and alliance practitioners in the world. Drawing on the experiences of IBM, Fuji Xerox, Ford, Dow Chemical, Intel, Komatsu, Corning, Sony, Apple Computer, Ciba-Geigy, and many other companies, Lewis brilliantly describes in detail how managers at each of these pioneering firms structure and manage various kinds of alliances -- from informal cooperation, minority investments, and risk-sharing contracts to full-fledged joint ventures and strategic networks. Through actual examples, Lewis shows for the first time how alliance partners build trust, develop mutual understandings, and make joint decisions, and at the same time protect core interests and critical technology -- a major concern of direct competitors. Lewis explains how to avoid the "Trojan horse" blunder many American firms made when they gave their Asian manufacturing partners key information about tailoring their products to local preferences. Particularly important is an entire chapter devoted to working with other cultures. The employment of strategic alliances, Lewis concludes, requires nothing short of a revolution in the conduct of business. Unlike arm's length relations, in which initial commitments govern, alliances involve shared risks and ongoing mutual adjustments. Lewis shows how alliances inevitably shape the business strategy of an entire firm, since the decisions to target certain markets and commit resources involve groups of firms acting in concert. Finally, Lewis shows how the use of alliances will affect internal management policies and practices, especially methods to bring about an outward focus and overcome the "not invented here" syndrome. We have entered the age of strategic alliances.

The Handy Paperback Edition of McGraw-Hill's One-Volume, MBA-Level M&A Course

More than ever before, decision-makers in profitable, high-growth businesses and industries must keep on top of the latest M&A strategies and techniques. "Mergers & Acquisitions "will show you how to fully exploit today's myriad M&A opportunities, as you learn how to defend your firm against unwelcome takeover attempts.

Hundreds of vital M&A issues are covered in depth, including: Valuation and accounting methods Assessing strategic fit Legal and regulatory frameworks Merging corporate cultures Restructuring and financial engineering Postmerger integration

Affordable and transportable, this paperback edition of "Mergers & Acquisitions--"the popular McGraw-Hill guide based on UCLA's Executive Education M&A program--provides you with every word, chart, case study, and statistic found in the hardcover.

Look to the McGRAW-HILL EXECUTIVE MBA SERIES for straight-talking, technique-filled books, written by front-line executive education professors and modeled after the programs of top business schools. Other paperback titles in the series include: Sales Management Finance & Accounting for Nonfinancial Managers Corporate Strategy