Mergers & Acquisitions
An Insider's Guide to the Purchase and Sale of Middle Market Business Interests
1. Auflage
Erschienen am 13. Februar 2009
Buch
Hardcover
414 Seiten
978-0-470-26210-8 (ISBN)
Beschreibung
There is an enormous middle market wealth transfer taking place and will continue over the next decade. Mergers and Acquisitions: A Guide to Selling Middle Market Businesses conveys the unique issues and circumstances of middle market mergers and acquisitions, companies valued between $5 million to $300 million. Real world anecdotes and vignettes are included. In addition, the book discusses accounting issues, valuation issues, legal issues, securities issues, due diligence issues, and M&A from a buy side point of view. Designed for use by consultants, investment bankers, owners, and management.
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Dennis J. Roberts
Mergers & Acquisitions
An Insider's Guide to the Purchase and Sale of Middle Market Business Interests
E-Book
03/2009
Wiley
120,99 €
Als Download verfügbar
Dennis J. Roberts
Mergers & Acquisitions
An Insider's Guide to the Purchase and Sale of Middle Market Business Interests
E-Book
01/2009
Wiley
126,99 €
Als Download verfügbar
Person
Dennis J. Roberts, CPA, CVA, ABV, is Chairman of The McLean Group, LLC, a national M&A firm whose primary focus is on Middle Market businesses. He lectures, teaches, and writes on M&A, business valuation, and corporate finance to national audiences, having more than thirty-five years of accounting and investment-banking experience involving a multitude of transactions across a wide variety of industries and markets. He is a regular contributor to various journals, including Thomson's Valuation Strategies and the Journal of Accountancy. He testifies frequently as an expert witness and was the chief valuator of the Nixon Watergate Tapes.
Inhalt
About the Author.
Acknowledgments.
Foreword.
Preface: A Profession.
A Career in Middle Market Investment Banking.
The Origins of a Deal Junkie.
The Deal Junkie Arrives (Almost).
Why Another M&A Book?
My Intended Audience.
Happy Families.
Disclaimers, Apologies, and Modest Lies.
CHAPTER 1 The Middle Market Is Different!
CHAPTER 2 Drivers of Middle Market Activity and the Sellers.
CHAPTER 3 Finding--and Understanding--Buyers in the Middle Market.
CHAPTER 4 Preparing a Middle Market Business for Sale and Running the Business while Selling It.
CHAPTER 5 Rewarding and Retaining Key Staff in Connection with a Business Sale: Blackmail or Justice?
CHAPTER 6 Crystal Balls and Timing the Sale of a Middle Market Business.
CHAPTER 7 The Confidential Information Memorandum.
CHAPTER 8 Confidentiality While Doing the Deal.
CHAPTER 9 Middle Market Investment Bankers and Intermediaries.
CHAPTER 10 The External M&A Team, and Using the Team Correctly.
CHAPTER 11 Anyone Can Do M&A--Right?
CHAPTER 12 Two Types of Auctions: The Informal Auction and the Controlled Auction.
CHAPTER 13 Financial Services Agreements, Estimating Professional Fees, and the Importance of Integrity around Large Sums of Money.
CHAPTER 14 Investment Banking Representation on the Buy Side.
CHAPTER 15 The Letter of Intent: The Most Critical Document?
CHAPTER 16 Some Thoughts on the Psychology of M&A Negotiations.
CHAPTER 17 Initial Meetings with Buyers, Pricing the Company, and Pacing the Negotiations.
CHAPTER 18 Consideration and Deal Structure.
CHAPTER 19 Earnouts.
CHAPTER 20 The Proof Phase, or the Final Days.
CHAPTER 21 After the Nuptials: Postmerger and Acquisition Failures.
CHAPTER 22 Does a Sales-Side Client Need an Appraisal before Going to Market?
CHAPTER 23 The Rules of Five and Ten and the Super Rule of Five in M&A Valuation.
CHAPTER 24 An Introduction to the Basic Art and Science of Valuation (Sales-Side versus Buy-Side) as Applied to M&A Transactions, and Flavors of EBITDA Explained.
CHAPTER 25 A Brief Discussion of Multiples and Multiple Realities.
CHAPTER 26 Qualitative Values Inherent in the Target Company.
CHAPTER 27 M&A Conventions and Establishing Balance Sheet Targets.
CHAPTER 28 Special M&A and M&A Valuation Topics.
CHAPTER 29 Common M&A Taxation Issues.
CHAPTER 30 The Business of Middle Market Investment Banking.
CHAPTER 31 A Postscript: The Capital Markets.
CHAPTER 32 Another Postscript: The Unbundled Approach to Formal Valuation.
A Bird, a Plane?
Notes.
Index.