Название: Mergers & Acquisitions For Dummies, 2nd Edition
Автор: Bill Snow
Издательство: For Dummies
Год: 2023
Страниц: 371
Язык: английский
Формат: pdf (true)
Размер: 10.2 MB

Explore M&As, in simple terms.

Mergers & Acquisitions For Dummies gives you useful techniques and real-world advice for making these business transactions a success, going beyond case studies to include international laws and regulations, environmental issues, and—most importantly—practical instructions you can really use. In plain English terms that anyone can understand, this book discusses the entire M&A process, including different types of transactions and structures, raising funds, partnering, identifying targets, business valuation, doing due diligence, closing the purchase agreement, and integrating new employees and new ways of doing business. If you're getting involved in a merger with, or acquisition of, another company, read this book to gain a thorough understanding of what the heck is going on. Updated with deep dives into valuations, environmental issues, negotiating tips, and beyond.

The subject of this book has a long shelf life, and that’s both a good and bad thing. The standards of the industry — along with its attendant terms, processes, and nomenclature — don’t change much over time. That first edition remained relevant and valuable for years, a boon for the consumer, but that lack of change reduced the need to constantly update the book — a bummer for your dear ol’ author, a mere humble scribe who wishes he had more opportunities to write. In other words, if you have the first edition and now are in the throes of an inner debate about buying the new version, proceed with confidence! More than a decade has elapsed from when the initial published work made its debut. The industry has seen some changes, and its attendant terms, processes, and nomenclature have evolved.

This new version of the book is a complete overhaul of the material from that first edition. Yes, some of the old text survives, but much of it has been updated, condensed, adjusted, relocated, and repurposed — tweaked, to use the parlance of today. This means, on occasion, fragments of an attempt at some literary fancy-pantsism in the first book will rear its head in the revised book, including traces of a partially developed theme. If you read the first edition and noticed occasional references to the classical elements of earth, water, air, and fire, that was not happenstance. I wrote that version in five “essential” parts, as I styled it in the original introduction, because I wanted each of the first four parts to reference one of the four elements of the ancients.

The fifth part — the fifth “essence,” if you will — was the quintessential part of the book. It covered integration issues and provided guidance about what happens after the culmination of all that M&A work is realized. This is when plans come to fruition and conclusions are reached. This fifth element, the ether of the stars, as Aristotle posited, was the stuff of dreams, the aspiration of all that hard work to acquire, combine, and integrate companies. Beyond the beyond! It was a grandiose theme! Unfortunately, due to time constraints, I did not have the ability to go back and give the manuscript the ol’ once-over and fully develop that theme, a literary device concocted for no other reason than to have a bit of fun. Oh, well. Publisher deadlines and all that.

This new version (sadly or happily, depending on your opinion of literary fancy-pantsism) does not feature a fully developed classical elements theme, so you will be unable to witness the firepower of a fully armed and operational For Dummies book — oh, wait a minute, never mind, sorry for the random Star Wars quote — instead, this second edition is chock-full o’ material I have used in pitches to prospective clients and in presentations to business groups. Some of the changes the M&A industry has seen in the past decade include the growing importance of sell-side quality of earnings reports, the commonality of reps-and-warranties insurance to indemnify transactions, format changes to offering documents, the use of automation, the acceptance of virtual meetings and plant tours, the rise of family offices, higher valuations, a greater emphasis on environmental issues, and more. Perhaps the most telling change in the past decade is the focus on adjusted EBITDA — in the humble opinion of this humble scribe, a Frankenstein’s monster of the financial world if one ever existed. Commensurate with that increase in valuations — inflation, as some say — I’ve provided more detail and context about what helps and hurts valuation.

• Walk through the merger and acquisition process in practical terms
• Learn the requirements and best practices you'll need to follow
• Hire the people who will help you through any M&A scenario
• Conduct win-win negotiations and get the most out of M&As

Mergers & Acquisitions For Dummies is a great choice for business owners and investors who need more information on the process and steps involved in successful M&A transactions.