Dennis J. Roberts

Mergers & Acquisitions (eBook, ePUB)

An Insider's Guide to the Purchase and Sale of Middle Market Business Interests

• Format: ePub

Produktbeschreibung

This book was designed not only for owners and managers of middle market businesses but as a training text for middle market M&A investment bankers and consultants. It discusses the art and science of middle market M&A as well the all-important psychology and behind-the-scenes negotiations pursued with a particular emphasis on obtaining the absolute highest value when selling a business. Subjects addressed include valuation, taxation, negotiations, M&A conventions, among many others from the buy-side and sell-side perspectives. Subtitled "Tales of A Deal Junkie," this serious but occasionally irreverent book tells it like it is, including anecdotes to provide a "feel" for what really goes on in middle market transactions. The author, a former practicing CPA and a business valuation expert, is a veteran M&A investment banker with years of real life experience. He also is a widely-acclaimed instructor in the M&A field and a nationally-respected practitioner who has trained thousands of investment bankers. No comparable book on the market today provides this degree of comprehensive and invaluable insight.

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Produktdetails

• Verlag: John Wiley & Sons
• Seitenzahl: 448
• Erscheinungstermin: 26. Januar 2009
• Englisch
• ISBN-13: 9780470442753
• Artikelnr.: 37292496

Autorenporträt

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.

Inhaltsangabe

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.