* CDROM contains extensive student study guide and detailed listings of online sources of industry and financial data and models on CDROM
* Numerous valuation and other models on CDROM can be downloaded and customized by readers
* Online Instructor's Manual with test bank, extra cases, and other resources
* Over 90 cases
Dr. Donald DePamphilis explains the real-world of mergers, acquisitions, and restructuring based on his academic knowledge and personal experiences with over 30 such deals himself. The 99 case studies span every industry and countries and regions worldwide show how deals are done rather than just the theory behind them, including cross-border transactions. The interactive CD is unique in enabling the user to download and customize content. It includes an Excel-based LBO model and an M&A Structuring and Valuation Model in which readers can insert their own data and modify the model to structure and value their own deals. CD also real options applications and projecting growth rates. Student Study Guide on CD contains practice problems/solutions, powerpoint slides outlining main points of each chapter, and selected case study solutions. An extensive on-line instructor's manual contains powerpoint slides for lectures following each chapter, detailed syllabi for using the book for both undergraduate and graduate-level courses, and an exhaustive test bank with over 750 questions and answers (including true/false, multiple choice, essay questions, and computational problems).
MBA and advanced undergraduate and graduate Finance students taking courses in: Mergers & Acquisitions, corporate restructuring, corporate strategy
Mergers, Acquisitions, and Other Restructuring Activities, 4th Edition
PART I The Mergers and Acquisitions Environment
CHAPTER 1 Introduction to Mergers and Acquisitions
CHAPTER 2 Regulatory Considerations
CHAPTER 3 The Corporate Takeover Market: Common Takeover Tactics, Anti-Takeover Defenses, and Corporate Governance
PART II The Mergers and Acquisitions Process: Phases 1–10
CHAPTER 4 Planning: Developing Business and Acquisition Plans—Phases 1 and 2
of the Acquisition Process
Phase 1: Building the Business Plan
Phase 2: Building the Merger/Acquisition Implementation Plan
CHAPTER 5 Implementation: Search through Closing—Phases 3 to 10
Phase 3: The Search Process
Phase 4: The Screening Process
Phase 5: First Contact
Phase 6: Negotiation
Phase 7: Developing the Integration Plan
Phase 8: Closing
Phase 9: Implementing Post-Closing Integration
Phase 10: Conducting Post-Closing Evaluation
CHAPTER 6 Integration: Mergers, Acquisitions, and Business Alliances
PART III Merger and Acquisition Valuation and Modelling
CHAPTER 7 A Primer on Merger and Acquisition Cash-Flow Valuation
CHAPTER 8 Applying Relative, Asset-Oriented, and Real Option Valuation Methods to Mergers & Acquisitions
CHAPTER 9 Applying Financial Modeling Techniques to Value and Structure Mergers and Acquisitions
CHAPTER 10 Analysis and Valuation of Privately Held Companies
PART IV Deal Structuring and Financing Strategies
CHAPTER 11 Structuring the Deal: Payment and Legal Considerations
CHAPTER 12 Structuring the Deal: Tax and Accounting Considerations
CHAPTER 13 Financing Transactions: Private Equity, Hedge Funds, and Leveraged Buyout Structures and Valuation
PART V Alternative Business and Restructuring Strategies
CHAPTER 14 Joint Ventures, Partnerships, Strategic Alliances, and Licensing
CHPATER 15 Alternative Exit and Restructuring Strategies: Divestitures, Spin-offs,
Carve-outs, Split-ups, Split-Offs, Bankruptcy, and Liquidation
CHAPTER 16 Cross-Border Mergers and Acquisitions: Analysis and Valuation
Quotes and reviews
"Professor DePamphilis' book is among the most comprehensive and best-written books on the topic of mergers and acquisitions I have ever read. In a world where private equity and hedge funds are supplanting traditional commercial and investment banking, a book like this comes in handy when traditional valuations fail to keep up with financial innovation. It marries the theory and practice. It is practical and complete. It is comprehensive and well-structured. And its attention to the world of cross-border transactions is timely and valuable."
—Paul Schulte, Lecturer, Hilton School of Business, Loyola Marymount University; Chief Investment Strategist, Asia Pacific, Lehman Brothers
"Mergers, Acquisitions, and Other Restructuring Activities provides a comprehensive overview all types of corporate restructurings. The book clearly shows which valuation technique is ideally suited for each type of restructuring. Not only is the validity of the motives of takeovers scrutinized, but this book also deals with corporate governance regulation. The book comprises an exhaustive treatment of all issues that arise in the restructuring processes, be it for takeovers, joint ventures, leverage buyouts, equity carve-outs etc. This book is a superb handbook, a must-read for scholars, practitioners, and policy makers concerned with corporate acquisitions."
—Luc Renneboog, Professor of Corporate Finance, Tilburg University, The Netherlands; Research Fellow at the Center for Economic Research and the European Corporate Governance Institute, Brussels
"Anyone interested in mergers, acquisitions, and restructuring can profit greatly by reading this very fine treatise by Dr. DePamphilis. It is comprehensive, insightful, and well-written. There are many case studies that show how the analyses discussed in the book may be applied. I wish this text had been available for my students at the Tuck School when I was teaching the mergers and acquisitions course there. I have no hesitation in recommending this book to students and practitioners, as well."
—Dennis E. Logue, Emeritus Professor of Management at the Amos Tuck School, Dartmouth College and Chair, Board of Directors Ledyard National Bank; former Dean of the Michael B. Price College of Business at the University of Oklahoma
"This edition of Mergers, Acquisitions, and Other Restructuring Activities provides an excellent framework for mergers and acquisitions analysis. By combining theories, practical aspects, cases, and discussion questions, Professor DePamphilis creates an invaluable book not only for the professionals who work on these deals, but also for the business students learning the insights about the mergers and acquisitions business. This book is a complete and well-structured guide on the important aspects in mergers and acquisitions, covering the process in phase-by-phase details, and the essential background information on regulatory issues and corporate takeover market. What I find most useful and effective in this book as a graduate text is the integration of valuation models, financing strategies, alternative strategies (such as strategic alliances, joint ventures, spin-offs), and a specific focus on the cross-border deals. This book should be a must-read for anyone interested in mergers and acquisitions."
—Tao-Hsien Dolly King, Associate Professor, Department of Finance and Business Law, The Belk College of Business, University of North Carolina at Charlotte
"Mergers, Acquisitions, and Other Restructuring Activities, Fourth Activities is no ordinary M&A text. It is simply the most comprehensive text I have ever read. While most texts, including M&A texts, focus on the technical “nuts and bolts”, this book goes far beyond the core M&A issues, to deal with everything that could possibly impact on mergers and acquisitions, from strategic planning and strategic evaluation, to valuation and modelling, substitutes (e.g. strategic alliances, licensing), due diligence, accounting, tax and legal implications, hedge funds, LBOs, integration and post-integration issues surrounding M&As, divestitures, bankruptcy, liquidations.
This text is a tour de force, the go-to text, the magnum opus of mergers and acquisitions. In addition to finance and accounting faculty, I recommend it to commercial bankers, venture capitalists and the larger financial community as well as government regulators such as the SEC and anti-trust folks."
—Ian Lee, PhD, Professor of Strategic Management, Sprott School of Business, Carleton University, Ottawa, Canada
"Mergers, Acquisitions, and Other Restructuring Activities is an interesting and comprehensive look at every aspect of M&A and corporate restructuring — from strategic and regulatory considerations and M&A deal process, through several chapters on M&A valuation and deal structuring, to other types of restructuring activities. It not only provides a road map for the M&A and other corporate restructuring process, but also highlights the key things to watch for. The book is clearly written, with extensive but easy-to-follow case examples and empirical findings to illustrate the points in the text. It is a book by an expert, and for M&A instructors and students as well as practitioners."
—Qiao Liu, PhD, Professor of Business and Economics, University of Hong Kong, China
"Mergers, Acquisitions, and Other Restructuring Activities, Fourth Edition is no ordinary M&A text. It is simply the most comprehensive text I have ever read. Exceptionally well-organized and engagingly written, Dr. DePamphilis' excellent 4th Edition provides a comprehensive and in-depth treatment of mergers and acquisitions for anyone, from the seasoned practitioner to the student novice. The book's expansive scope and up-to-date cases and examples provide practical, useful guidance for every phase of the restructuring process, derived from the author's considerable experience, and anchored in solid academic research."
—Wesley B. Truitt, PhD, Adjunct Professor, Anderson Graduate School of Management, UCLA and former Vice President of Northrop Grumman Corporation
"Whether one is a new student or an experienced M&A professional, Don DePamphilis' latest book is an invaluable resource. For students and faculty, Don’s book provides a well-structured, comprehensive framework for understanding this important business process; the chapters are enriched with useful real-life examples, case studies, and discussion questions. For experienced business executives engaged in M&A or about to embark on this increasingly demanding process, Dr. DePamphilis draws on his extensive experience to offer practical tools and insights for avoiding the pitfalls — and maximizing the opportunities for success—throughout all phases of the M&A process."
—Richard M. Stafford, Principal, Human Capital Management LLC and former Senior Vice President of Human Resources, Montgomery Watson, Inc
"I found Dr. DePamphilis' book to be a comprehensive explanation of all aspects of mergers, acquisitions, and restructuring activities, including the business motivations for using these strategies, the tools of analysis to determine a go or no-go decision and the issues related to implementation. He provides a useful balance of theory, examples, exhibits, spreadsheets, and cases. Given the importance of