A behind-the-scenes look at the underlying roles of each player in
a mergers and acquisitions transaction
Mergers and Acquisitions Dealmaker explores the roles of the buyers
and sellers involved in mergers and acquisitions as well as
executive management, line management, and the corporate
development team. Now in a second edition, this book provides
readers with a "behind the scenes" look into the roles, approaches,
and motivations of each key player in a strategic transaction, and
provides strategies on building a successful team. Providing a
unique insight into the various professionals that drive mergers
and acquisitions, Mergers and Acquisitions Dealmakers is a valuable
reference destined to become essential reading for anyone trying to
understand how mergers and acquisitions actually work.
Michael E.S. Frankel (Chicago, IL) is a seasoned corporate
development executive with extensive experience in mergers and
acquisitions, corporate strategy, and business development
transactions. He has led over 100 transactions and has worked on
hundreds more. He has executed transactions as an attorney,
investment banker, and corporate development officer for VeriSign,
GE Capital, and IRI, where he currently heads corporate
development.
Autorentext
MICHAEL E. S. FRANKEL has led and negotiated over ninety acquisitions, equity investments, and other strategic transactions as a corporate development officer, investment banker, and attorney. He is the author of Mergers and Acquisitions Basics (Wiley) and is a frequent speaker on M&A and Strategic Transactions. He currently serves as Executive Vice President of Corporate Development and Strategy at Information Resources, Inc. (IRI). Prior to joining IRI, Frankel served as vice president of business development at GE Capital. He has also held positions as vice president of corporate development at VeriSign, where his team completed ten acquisitions and twenty equity investments, and as vice president in the investment banking group of Merrill Lynch, where he worked on a variety of acquisitions, IPOs, and other public market transactions including the IPO of UPS. He has also worked as an associate with Skadden, Arps, Slate, Meagher & Flom and as manager of international strategy at the Chicago Mercantile Exchange. He has a BA, MA, JD, and MBA from the University of Chicago.
Klappentext
MERGERS AND ACQUISITIONS DEAL-MAKERS BUILDING A WINNING TEAM SECOND EDITION
Countless mergers take place every year, giving the impression—on paper, at least—of making sound financial and strategic sense, yet many disintegrate or fail to meet expectations because the crucial strategic element of understanding the actual players, their agendas, and biases is often neglected or overlooked. Mergers and Acquisitions Deal-Makers: Building a Winning Team, Second Edition takes you behind the scenes of strategic transactions to keep you one step ahead of all the players and make the deal happen.
Drawing from author Michael Frankel's unique experience working with companies in the process of merging, he provides an insider's look, complete with the pitfalls as well as the best practices, of all the players—from the buyers and the sellers, to the institutional shareholders, to private investors—with insights on how to work smart with each player as well as the economic and incentive models that drive each one.
Premised on the idea that the individual players in a merger are the key to understanding the deal, Mergers and Acquisitions Deal-Makers: Building a Winning Team, Second Edition begins by discussing the buyer and seller as unified entities, then peels back the legal façade at the deal table to reveal the individuals behind the details, including:
- Executive management
- In-house corporate development
- Line management
- Board of directors
- Equity holders
- Private investors
- Lawyers and investment bankers
Equally valuable reading for deal specialists who carry out strategic transactions for a living as well as for business people who encounter mergers and acquisitions on occasion and simply want to understand how they work, Mergers and Acquisitions Deal-Makers: Building a Winning Team, Second Edition gives you straight talk on leveraging the most important component of the deal: the players, how they work, and how to effectively manage them.
Zusammenfassung
A behind-the-scenes look at the underlying roles of each player in a mergers and acquisitions transaction
Mergers and Acquisitions Dealmaker explores the roles of the buyers and sellers involved in mergers and acquisitions as well as executive management, line management, and the corporate development team. Now in a second edition, this book provides readers with a "behind the scenes" look into the roles, approaches, and motivations of each key player in a strategic transaction, and provides strategies on building a successful team. Providing a unique insight into the various professionals that drive mergers and acquisitions, Mergers and Acquisitions Dealmakers is a valuable reference destined to become essential reading for anyone trying to understand how mergers and acquisitions actually work.
Michael E.S. Frankel (Chicago, IL) is a seasoned corporate development executive with extensive experience in mergers and acquisitions, corporate strategy, and business development transactions. He has led over 100 transactions and has worked on hundreds more. He has executed transactions as an attorney, investment banker, and corporate development officer for VeriSign, GE Capital, and IRI, where he currently heads corporate development.
Inhalt
PREFACE xi
CHAPTER 1 Buyers and Sellers and Their People 1
Sellers 2
Buyers 11
CHAPTER 2 Deal Player Ecosystem 31
Key Supporting Players 31
Supporting Players Interacting with the Principals 33
CHAPTER 3 Executive Management 37
What's Their Role? 40
The People and What They Do 43
Economic Model and Their Incentives/Biases 49
Management of or Interaction with Executive Management 52
CHAPTER 4 In-House Corporate Development Staff 59
What's Their Role? 60
The People and What They Do 76
Economic Model and Their Incentives/Biases 79
Management of or Interaction with Corporate Development Staff 80
CHAPTER 5 Line Management 85
What's Their Role? 86
The People and What They Do 87
Economic Model and Their Incentives/Biases 92
Management of or Interaction with Line Management 95
CHAPTER 6 Board of Directors 99
What's Their Role? 100
The People and What They Do 102
Economic Model and Their Incentives/Biases 104
Management of or Interaction with the Board of Directors 106
CHAPTER 7 Equity Holders 109
Founders 109
Public and Institutional Shareholders 117
CHAPTER 8 Private Investors 129
What's Their Role? 131
The People and What They Do 136
Economic Model and Their Incentives/Biases 146
Management of or Interaction with Private Investors 149
CHAPTER 9 Lawyers 153
What's Their Role? 156
The People and What They Do 165
Economic Model and Their Incentives/Biases 167
Management of or Interaction with Lawyers 168
Variations 169
CHAPTER 10 Investment Bankers 177
What's Their Role? 177
The People and What They Do 186
Economic Model and Their Incentives/Biases 188
Management of or Interaction with Investment Bankers 191 Variations 193
CHAPTER 11 Other Advisors 199