From the Inside Flap
Mergers and acquisitions is no easy path to riches or career advancement. All you have to do is open a newspaper or turn on your television to watch some of the most well–thought–out deals fall apart at the seams. But despite the material failure rates of mergers and acquisitions, those pulling the trigger on key strategic decisions can make them work if they exercise great care and rigor in the development of their M&A deals. It is possible to succeed in the world of mergers and acquisitions, and this book can put you on the right track to do so. By addressing the key factors of M&A success and failure, Applied Mergers and Acquisitions shows you the best ways to analyze, design, and implement M&A deals. Written by one of the foremost thinkers and educators in the field, this invaluable resource wont offer you a rigid guide to M&A successbecause there is no set way to make M&A workbut it will introduce you to the art and science of M&A valuation, reveal the nuances of deal negotiation and bargaining, as well as provide you with a framework for considering tradeoffs in an effort to optimize the value of any M&A deal. Applied Mergers and Acquisitions is filled with in–depth insights, expert advice, and numerous real–world M&A case studies that clearly illustrate the ideas described throughout the book. It is also fully supported by value–added learning toolsincluding a CD–ROM and Workbookthat may be purchased concurrently or at a later date to further enhance the readers overall learning experience with the core text. Important M&A issues discussed include: Strategies and the origination of transaction proposals Analysis of transaction proposals, terms, and tactics The design of detailed transaction terms Rules of the road: governance, laws, and regulations Competition, hostility, and behavioral effects in M&A Communication, integration, and best practices Through a focus on ideas and their application, Applied Mergers and Acquisitions answers many difficult M&A questions, including: What is the best practice in M&A, and how can you understand M&A activity? By illustrating the tools, concepts, and processes essential to M&A success, this comprehensive survey of the M&A field will increase your chances of a favorable outcome in any potential deal.
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From the Back Cover
"A well written and comprehensive journey into M&A...an essential reference for any M&A practitioner...this isnt just a book about great thoughts and process, but rather how to turn insight into deals, and deals into lasting value." From the Foreword by Joseph R. Perella Chairman, Institutional Securities and Investment Banking Group, Morgan Stanley "Bob Bruners Applied Mergers and Acquisitions is a masterful and comprehensive treatment of the topic of M&A. The book is remarkably complete, discussing economic valuation, legal considerations, deal structure, ethics, accounting, post–merger integrationand more. It blends material from practice and from academia in an easy–to–read style, making it a must–read, and want–to–read, for anyone interested in this subject." Peter Tufano Sylvan C. Coleman Professor of Financial Management, Harvard Business School "How many books really succeed in teaching M&A practitioners to distinguish among deals that should be avoided, deals that are promising but cant be executed by the teams involved, and deals where significant value can be achieved? We should start the count with Bruners Applied Mergers and Acquisitions. Bruner is the ultimate teacher for practitioners who want to improve performance." Edward A. Snyder Dean and George Pratt Shultz Professor of Economics, University of Chicago Graduate School of Business "Bob Bruner has achieved the impossible: covering in one book all relevant economic, financial, accounting, legal, and tax aspects of mergers and acquisitions and illustrating each concept with case studies. Impressive!" Theo Vermaelen Professor of Finance, INSEAD "Bob Bruners book combines the best of academic thinking and business practice on one of the most fascinating and challenging topics in all of business. The area of mergers and acquisitions stretches executives and scholars to consider the whole realm of management practicefrom strategy, to finance, to law, to negotiations, to integration planning, to human behavior." Robert S. Harris Dean, Darden Graduate School of Business Administration, University of Virginia