Most mergers and acquisitions fail to deliver their expected outcomes, yet they remain essential for growing world class companies, and those handling M&As must draw on all the tools at their disposal to improve their chances of success.
Now in its second edition, Intelligent M&A looks at the full process of a merger or acquisition from start to finish, updated to reflect the impact of a global recession and show the new way of operating in the new business environment and a world more global than previously.
Covering current trends in the market and anticipating changes yet to take hold, Moeller and Brady identify areas where business intelligence can improve the odds of a favourable outcome and discuss how to navigate the mergers and acquisitions minefield.
Includes how to:
- Design the best acquisition process
- Control your advisors and other outsiders
- Identify the targets that really do fit your strategy
- Defend against unsolicited hostile bids
- Use intelligence techniques to conduct due diligence
- Value, price and finance each deal to your advantage
- Develop the best negotiation and bid strategy
- Focus from the start on post–deal integration
- Make acquisition skills one of your company s core competency
Using techniques developed by governmental intelligence services and a wide range of updated case studies, quotations and anecdotes, Intelligent M&A will show how to build success into every phase of the deal.
Intelligent M&A is a fascinating read for anyone working in or around the fast moving M&A world. Moeller and Brady have applied the techniques of business intelligence to the M&A process to provide a unique insight into the successful execution of deals. Their experience in the field and structured approach provides valuable lessons for everyone from business students to experienced practitioners.
Simon Barnes, Managing Partner, Circadia Ventures LLP
INTRODUCTION TO THE SECOND EDITION ix
1 THE NEED FOR INTELLIGENCE IN MERGERS AND ACQUISITIONS 1
2 BUSINESS INTELLIGENCE 37
3 DESIGNING THE ACQUISITION PROCESS 69
4 CONTROLLING THE ADVISORS 101
5 IDENTIFYING THE BEST TARGETS 119
6 THE BEST DEFENSE 159
7 DUE DILIGENCE 193
8 VALUATION, PRICING, AND FINANCING 243
9 NEGOTIATION AND BIDDING 283
10 POST–DEAL INTEGRATION 313
11 POST–DEAL REVIEW 353
12 CONCLUSIONS 367
BIBLIOGRAPHY AND REFERENCES 373