Organizations, large and small, are realizing the importance of collaborations to achieve their business objectives. Organizations to create independent and joint values are entering into strategic alliances with their suppliers, customers, and even their competitors. Every alliance follows a lifecycle and decisions have to be taken by executives at each stage. Anticipated revenues and other sources of financial value remain unrealized if inadequate decisions are taken and alliances fail or under perform. This book takes readers across the different stages of an alliance lifecycle and, through practical incidents, discusses and debates on the decisions to be taken. The book also demonstrates the various challenges faced by executives in an alliance. This book is perfect for managerial executives who are contemplating proposing a strategic alliance for their organizations or are part of an organization juggling various ongoing alliances, alliance managers, and business development professionals. In short, the content of the book should be of interest to anyone for whom alliances are a topic of interest.

The Middle East and North Africa (MENA) region is a growing market which is attracting increasing interest from local and foreign investors alike. With competition on the rise, the region has also seen significant developments in M&A activity. This trend has been driven by investors from around the world, drawn by the opportunities that the region has to offer, and by local companies seeking to consolidate their market share. Although the entire MENA region has unique investment potential, each jurisdiction presents specific opportunities and challenges in the context of M&A deals. This book highlights the idiosyncrasies and trends that define and distinguish each jurisdiction, while providing up-to-date and practical advice for legal professionals advising on deals. In-house lawyers and potential investors will also benefit from this valuable guide. It is designed to assist professionals in keeping pace with potential M&A transactions in which they are involved, and to provide insight into common business practices and challenges in the region. This book includes country chapters on Bahrain, Egypt, Jordan, Lebanon, Kuwait, Morocco, Oman, Qatar, Saudi Arabia, Tunisia and the United Arab Emirates. Each chapter provides an overview of the jurisdiction's corporate and commercial context, an analysis of the business environment and a guide to the requirements and challenges of conducting M&A transactions on the ground, including coverage of structuring, merger agreements, post-merger issues and case studies. M&A in the Middle East presents unique insights into each market. It is a practical guide that assists those involved in M&A deals in managing risk and expectations, while also ensuring that deals are closed as efficiently as possible.

Ce livre cherche a aider l'entrepreneur ou l'acheteur a apprehender les enjeux de l'evaluation d'une entreprise. Il propose quelques conseils simples pour ceux qui tentent de mettre en place un processus de valorisation ou aider un acheteur a se faire une opinion sur la valeur. Ce texte cherche egalement, par le biais d'exemples accessibles a rendre comprehensibles a tout public, des concepts souvent opaques de la profession. Le lecteur est egalement invite a prendre connaissance de l'important lexique qui detaille ces memes concepts. L'auteur a co-publie un certain nombre d'articles sur l'evaluation. Ce petit livre reprend et complete quelques-unes des analyses sur laquelle il a travaille et apporte une mise a jour rendue necessaire par les grands bouleversements recents faisant suite aux crises financieres."

Valuation is not just a critical step in buying or selling a company, it's an instrumental tool for measuring and managing the successful growth of any business. If you are an advisor, investor, business owner, or board member, this comprehensive guide from the authors of the bestselling "Art of M&A" series provides the essential information you need to: * Master the fundamentals of business valuation * Understand the difference between price and value * Analyze business potential using valuation multiples and DCF * Avoid the pitfalls of valuation "rules of thumb" * Use contingent consideration to bridge value expectations * Unlock value using tax structure * Build a transaction model that evaluates multiple forecast scenarios * Know when to buy and sell-and succeed Regardless of a company's particular industry, financial condition, or stage of development, this book arms you with a full range of valuation methods and downloadable finance models suitable to any situation. You'll gain not only a rigorous understanding of quantitative financial models, but also the qualitative drivers that make a business more valuable in the eyes of a buyer. Unlike most other M&A texts, the Art of M&A Valuation and Modeling also explains how to enhance valuation using deal techniques learned only through the authors' decades of hands on, practical experience. As an added bonus, the book features sample models and real-world examples so you can see the valuation process in action. This practical guide makes it easy for you to chart the course of your own company's growth, diversification, progress, efficiency, synergy, and more. For what it's worth, The Art of M&A Valuation and Modeling could be the best investment you'll ever make.

THE NEW M&A STRATEGY FOR LONG-TERM SUCCESS IN TODAY'S VOLATILE MARKETS

""Rich in examples and details, well-grounded in wisdom from years of experience, and blessedly practical . . . . engaging, well-written, and loaded with worthy insights. Study this book and prosper."" -- DR. ROBERT B RUNER, Dean, University of Virginia's Darden School of Business, and author of Deals from Hell, The Panic of 1907, and Applied Mergers & Acquisitions.

""Drawing on his experience with more than 100 M&A transactions, Hoffmann has written a defi nitive 'how-to' for acquiring companies in the below $50 million sales market space. The examples . . . offer] astute insight into every feature of the topic."" -- DR. NANCY BAGRANOFF, Dean, Robins School of Business of the University of Richmond; President of the American Accounting Association; and coauthor of Core Concepts of Consulting for Accountants and Core Concepts of IT Auditing.

""This is a wonderful history with compelling lessons from the great successes of the Trader Publishing and Landmark Communications leadership and business model. The reflection on past deals gone wrong helps the reader understand why you do deals, how to pursue M&A, and what principles you need to be successful."" -- MACON B. ROCK, founder and Chairman of Dollar Tree Stores, Inc., and founder and former President of K&K Toys.

""A must-read for those who hope to start small and grow big by acquiring, improving, and innovating. Following his rules may not lead you to be part of the 1 percent, but it will certainly keep you from being part of the 70 percent that fail."" -- HOWARD S. TEVENSON, Senior Associate Dean, Harvard University; Director of Publishing, Harvard Business Publishing Company board; and author of New Business Ventures and the Entreprenuer, Make Your Own Luck, and Do Lunch or Be Lunch.

Seize the competitive advantage with today's most powerful strategic tool--M&A

""Given the influence of technology, globalization, and regulatory change, M&A will continue to shape our industries. For most companies, therefore, the consideration of M&A in strategy is now fundamental.""
-from the Introduction to Part I

"The Art of M&A Strategy" is exactly what you need to build mergers, acquisitions, and divestitures into your overall business strategy--to make M&A a competitive advantage and avoid landing on the long list of M&A failures.

Experts in the field of M&A, Smith and Lajoux demystify this otherwise complex subject by taking you through the types of M&A strategy and the key steps to successful M&A strategy development and implementation. "The Art of M&A Strategy" is conveniently organized into three sections: Part I presents a range of possible corporate strategy situations and provides the role and rationale for M&A in each, such as building and managing a portfolio, participating in industry consolidation, spurring corporate growth, and using acquisitions to create "real options." Part II outlines how to determine the role of M&A in your strategy--taking into consideration industry context, competitive imperatives, and strategy options--and explains how to find and screen partners, decide whether to buy or sell, and engage the board of directors in M&A decisions. Part III covers M&A as a sustained corporate program, particularly in the context of international growth, outlining the most strategic aspects of post-merger integration, describing how to use advisors throughout the process, and examining core competencies required for successful M&A programs.

The authors illuminate the purpose and process of applying M&A with real-world success stories involving Cisco, GE, Google, and many other companies that have leveraged M&A for strategic success. Use "The Art of M&A Strategy" to create a powerful strategy position for success in today's changing business environment and to seize and hold competitive advantage.

This book tackles the strategic, financial and procedural aspects of planning and executing mergers, acquisitions and strategic alliances. It also explores the similarities and differences between these various types of transaction and illustrates each with case studies, to help students from final year undergraduate to MBA.

Providing practical application of best practices employed in the divestiture process, "Corporate Divestitures" provides you with detailed guidance on how your corporation should handle a divestiture. It provides a structured approach that emphasizes disciplined execution and illustrative documents and application aids that can be adapted for use in real-world situations.

Successfully Source, Negotiate, and Close Any Merger, Acquisition, or Joint Venture

"Making M&A Deals Happen" provides a practical businessperson's approach to making M&A deals that withstand the test of time. The book presents complete guidance on how to source, negotiate, and close mergers, acquisitions, and joint ventures, discussing each stage of the deal process and highlighting the critical elements, risks, and opportunities of each.

Bob Stefanowski, who has overseen more than $8.7 billion in M&A deals, equips readers with expert information on the M&A environment... developing a company strategy on M&A...financial modeling and final valuation...bidding strategies...structuring the deal...legal and regulatory issues...and much more.

Filled with easy-to-use tools, techniques, and resources, "Making M&A Deals Happen" features: Proven M&A strategies and tactics that increase value for the company In-depth case studies of Tyco, Conseco, and Time Warner, showing where firms have gone wrong_and how to avoid similar pitfalls Detailed negotiation do's and don'ts and troubleshooting techniques A wealth of tables, charts, and examples that illustrate key methods Sample due diligence audit programs and information requests

Based on a renowned course the author teaches at UPENN - Wharton "Making M&A Deals Happen" now offers a winning blueprint to all professionals actually involved in the M&A process_ whether in the planning, due diligence, or integration phases.

Mergers and Acquisitions: Text and Cases provides guiding frameworks and information on Mergers and Acquisitions (M&A), complemented by a set of well-matched cases. The purpose is not to rehash the existing set of M&A books, but to provide real-world examples of situations that allow the reader to utilize the core concepts and processes in M&A. The authors present a process-based framework of M&A, within which the reader is given in-depth information about the steps in doing deals. The reader then has the ability to apply these concepts and frameworks to the full-length cases. The book can be used as a stand-alone text because it provides good coverage of the entire M&A process. In order to more specifically focus on any particular aspect of M&A, the text can easily be supplemented with focused materials.

Your roadmap to success in the world of postmerger integration

Nearly half of today's executives attribute M&A failure to poor integration between merging businesses. This thoroughly revised edition of "The Art of M&A Integration" provides you with updated facts on integration of compensation plans, new FASB and GAAP accounting rules, strategies for merging IT systems and processes, and more.

In January 2000, America Online and Time Warner announced the largest merger in U.S. history, a deal that would create the biggest media company in the world. It was celebrated as the marriage of new media and old media, a potent combination of the nation's No. 1 Internet company and the country's leading entertainment giant, the owner of such internationally renowned brands as Warner Bros., HBO, CNN, and "Time" magazine.
But only three years later, nearly all the top executives behind the merger had resigned, the company had lost tens of billions of dollars in market value, and the U.S. government had begun two investigations into its business dealings.
How did the deal of the century become an epic disaster?
Alec Klein has covered AOL Time Warner for "The Washington Post" since the merger. His reporting on the company led to investigations by the Justice Department and the Securities and Exchange Commission. In "Stealing Time, " he takes readers behind the scenes to show how a clash of cultures set the stage for a spectacular corporate collapse. AOL's Steve Case knew it was only a matter of time before the Internet bubble of the late 1990s would burst, grounding his high-flying company. His solution: Buy another company to keep his own aloft. Meanwhile, Time Warner's Jerry Levin was enamored of new technology but frustrated by his inability to push his far-flung media empire into the Internet age. AOL and Time Warner seemed like a perfect match.
But the government forced the two companies to make concessions, and during the yearlong negotiations technology stocks tumbled. AOL executives lorded it over their Time Warner counterparts, who felt they were being acquired by brash, young interlopers with inflated dollars. The AOL way was fast, loose, and aggressive, and Time Warner executives -- schooled in more genteel business practices -- rebelled. In the midst of clashing cultures and conflicting management styles, AOL's business slowed and then stalled. Worse yet, AOL came under government scrutiny, and when the company conducted its own internal investigation, it admitted that it had improperly booked at least $190 million in revenue. The Time Warner rebellion gathered momentum.
This is a riveting story of ambition, hubris, and greed set amid the boom-and-bust years of the technology bubble. It is filled with outsized personalities -- Steve Case, Jerry Levin, Bob Pittman, Ted Turner, and many more. Based on hundreds of confidential company documents and interviews with key players in this unfolding drama, "Stealing Time" is a fascinating tale of the swift rise and even swifter fall of AOL Time Warner.

"'Merging across Borders' offers insight into social, cultural, communicative and political dynamics in complex organizational change processes following mergers and acquisitions; dynamics which have often been neglected in previous research. The book is written by a Nordic research team, and it is based on their extensive field study of a series of cross-border mergers and acquisitions leading to the creation of Nordea, the largest Nordic financial services group today."

Illustrating the pitfalls and alerting practitioners to common mistakes, whilst setting out the number of processes involved, this is a guide on setting out to acquire a business.

A decade on from the global economic crisis, the time is ripe for restructuring professionals to take stock. The worldwide economy has recovered but remains subject to volatility; at the same time, market players have amassed unprecedented amounts of 'dry powder' capital available to deploy in distressed situations. As we come to terms with the full implications of Brexit and other macro-economic factors, the restructuring market continues to innovate and adapt, frequently finding legal and practical solutions for the most complex cross-border situations. This third edition of Restructuring and Workouts: Strategies for Maximising Value provides an essential resource, providing legal and practical guidance for restructuring professionals. Fully updated since the last edition in 2013, it includes several entirely new chapters, with in-depth coverage and analysis including: *overviews of the current market; *a focus on topical sectors including retail and offshore/shipping; *analysis of legal regimes in France, the US and Spain; *examination of key themes such as distressed M&A and the restructuring of pensions obligations; and *an exclusive retrospective from the architects of the Lehman Brothers restructuring - the case which has done more than any other to shape the restructuring market over the last 10 years. This comprehensive publication makes required reading for private practice lawyers, insolvency practitioners, financial advisory and turnaround professionals, investment professionals and in-house lawyers alike

Jewels in the Crown provides an analysis of Tata's acquisition of Jaguar and Land Rover in 2008, and subsequent transformation of their fortunes, written by an award-winning motoring writer. Ray Hutton goes behind the scenes to examine how Tata have not only returned the business to profit, but also transformed the public image of these long-established British brands. At the time of the takeover, both brands (once the crown jewels of the British motor industry) had been tarnished by a patchy reputation for quality and reliability. Tata bought a new approach to the business, with fast decision-making and a solid, sustainable, long-term strategy. Factory efficiency was improved and a major export drive accompanied by a succession of carefully-positioned new models, from the Jaguar XJ Saloon and F-Type sports car to the Evoque and the new, lighter but more luxurious Range Rover flagship. The result was a remarkable change of fortunes. This book shows how it was done.

Merger Control Worldwide is a comprehensive, multi-contributor collection which sets out the details of every jurisdiction where a mechanism for merger control is in place. A concise, practical account is given of the relevant law in each jurisdiction, presented with the aid of flowcharts and diagrams. Merger Control Worldwide aims to provide the legal community, in particular law firms and policy-makers, with a clear point of reference that will prove invaluable when making decisions and delivering sound and accurate advice in merger cases. This, the second supplement to Merger Control Worldwide, provides an update on developments that have occurred recently in the field. It includes a comprehensive appraisal of a new jurisdiction, Singapore.

This set maps articles from the four main fields that influence the study of mergers and acquisitions: economics, finance, strategic management and human resource management, and encompasses a range of further perspectives. With a multidisciplinary approach, these volumes integrate the main fields of reference for mergers and acquisitions, and are structured around the following issues:
* the history of, and perspectives on, the modern business corporation and the role of mergers and acquisitions
* causes of mergers and acquisitions activity
* consequences of mergers and acquisitions activity
* public policy and the corporation.
A detailed index and new introduction are provided to guide the reader through this multidisciplinary collection.

This book focusses on a parallel approach that ensures successful acquisitions are strategic and cultural fits, which meet all synergy goals while at the same time optimizing and growing the current business. Busiensses must run effectively before they are built upon them through acquisition. These same tools that we use in the preparatory phase while optimizing our current business including Lean, Six Sigma and Theory of Constraints become the catalyst that will maximize business growth, cash flow and net profits for the expanded business in the long term. They are transferrable and form an integral part of "the glue" that holds the newly acquired company and the core business together.

This book was written with aim of providing some insights into the process of the buyout of Exxon Chemicals--the first such buyout in Pakistan's corporate history. It also tells the story of one person's endeavor to make his vision a reality. The man who spearheaded the buyout is Shaukat Raza Mirza. In this book, we are gripped by corporate drama as the story of the buyout unfolds. Shaukat's primary role is central, as he relates the discussions, decisions, and challenges faced.