Product Description

Modern restructuring techniques for a global business landscape


Corporate restructurings are an indispensable tool in building a new generation of re-engineered companies with the power and resources to compete on a global playing field. Written from a practical and historical perspective, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions.

In this thoroughly revised Fourth Edition, author and business valuation expert Patrick Gaughan provides a fresh perspective on M&As in today's global business landscape, and how your company can reap the benefits from the various forms of restructurings available. Packed with the most up-to-date research, graphs, and case studies, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition explores:
* Recent takeover trends including the role of private equity firms and hedge funds
* Most effective offensive and defensive tactics in hostile bids
* A review of the effect of shareholder wealth on a variety of takeover actions
* Modern, historical, and global perspectives on the field
* The various forms of downsizing including divestitures, spinoffs, and equity carve-outs
* Bankruptcy as an effective restructuring technique
* Latest developments in corporate governance
* Pros and cons of joint ventures and strategic alliances
* Primary methods used to value public and private companies

Product Details

• Amazon Sales Rank: #109362 in Books
• Published on: 2007-02-02
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 648 pages

From the Publisher
This trailblazing book re-examines the value restructurings offer in building a new generation of companies with the power and resources to compete on a global basis. Pragmatic and comprehensive, it focuses on all the types of corporate restructurings available today such as M&As, divestitures, joint ventures, leveraged buyouts, and recapitalizations. The author uses the latest research and case studies in the field to analyze and explain not only the financial aspects of these transactions but the economic, legal, tax, and regulatory considerations as well.

From the Inside Flap
From large megadeals to various forms of downsizing, the world of mergers and corporate restructurings has undergone dramatic changes in the past several years. Fueled by capital-rich private equity firms and hedge funds, the field of mergers is booming. Partly with the backing of such investors, leveraged buyouts (LBOs)—the craze of the 1980s that became less popular in the 1990s—are now back with a vengeance. In general, all types of restructurings regularly grab the headlines in the financial media.

Written to show business managers and financial executives which kind of corporate restructuring can be used successfully within their own corporations, Mergers, Acquisitions, and Corporate Restructurings examines nearly every type of corporate restructuring in use today, from mergers and acquisitions to joint ventures and recapitalizations. This thoroughly updated Fourth Edition provides a fresh overview of the most recent practices and how they are currently being used to revitalize and supercharge companies in America and abroad. Author Patrick Gaughan addresses the growth and development of the field of M&As through both a practical and historical focus, followed by a review of the laws and rules that govern the field. Gaughan also examines the many ways to thwart a hostile takeover as well as the impact of a takeover on shareholder wealth.

M&As are but one form of restructuring. Mergers, Acquisitions, and Corporate Restructurings explores the vast array of ways a company can grow as well as the many ways to downsize, including divestitures, spinoffs, and equity carve-outs, and the benefits of each scenario. The book also explores how companies in more distressed financial conditions can restructure through bankruptcy, and how to benefit from the protective U.S. bankruptcy laws. In this Fourth Edition, Gaughan also analyzes recent financing trends, including the role of leveraged transactions and private equity financing, as well as the increasing role of hedge funds and employee stock ownership plans in takeovers.

New to this edition is an increased emphasis on corporate governance, and its importance in today's post-Enron environment. Gaughan addresses the role of governance in the development of M&A strategy and the monitoring of prior deals. He also emphasizes the importance of valuation on both public as well as privately held companies, their similarities, their important differences, and the main methods of business valuation.

Written to help organizations compete in today's global market, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition provides you with the intricate ins and outs of corporate restructuring, and how to make the most of them in your organization.

From the Back Cover
Modern restructuring techniques for a global business landscape

Corporate restructurings are an indispensable tool in building a new generation of re-engineered companies with the power and resources to compete on a global playing field. Written from a practical and historical perspective, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition carefully analyzes the strategies and motives that inspire M&As, the laws and rules that govern the field, as well as the offensive and defensive techniques of hostile acquisitions.

In this thoroughly revised Fourth Edition, author and business valuation expert Patrick Gaughan provides a fresh perspective on M&As in today's global business landscape, and how your company can reap the benefits from the various forms of restructurings available. Packed with the most up-to-date research, graphs, and case studies, Mergers, Acquisitions, and Corporate Restructurings, Fourth Edition explores:

• Recent takeover trends including the role of private equity firms and hedge funds
• Most effective offensive and defensive tactics in hostile bids
• A review of the effect of shareholder wealth on a variety of takeover actions
• Modern, historical, and global perspectives on the field
• The various forms of downsizing including divestitures, spinoffs, and equity carve-outs
• Bankruptcy as an effective restructuring technique
• Latest developments in corporate governance
• Pros and cons of joint ventures and strategic alliances
• Primary methods used to value public and private companies

Customer Reviews

Practical, accessible
This book is a valuable guide to the real world issues of M&A's and Corporate Restructuring. Instead of dwelling too much on financial theory it provides informative descriptions of the options available to CEO's, CFO's, corporate boards and shareholders, as well as the ethical and tactical issues they will face. Language and structure both are very accessible, making this book equally useful as a study text or reference book.
I can recommend this book to both finance majors and laypeople.

Excellent book: highly recommend
The shipping took some time otherwise the product is in excellent condition.

good insight in the M&A world
This book gives the reader a very good insight in the world of mergers and acquisitions + corporate restructurings due to M&A. It covers all possible aspects of M&A activities, all very well explained. My opinion is that this book is especially useful if you are a beginner within M&A, as I was when I first read it.
It provides even more insights into the matter by stating clear examples of mergers and acquisitions.
This book is the one to buy if you are taking your first steps in the world of M&A...