The Art of Capital Restructuring

Mergers and acquisitions represent a vital business tool as well as an alternative growth and expansion strategy for many companies. Given the frequency of these transactions, understanding how and why they take place is essential to realizing the expected benefits of such activities and ensuring the critical goal of maximizing shareholder value. The Art of Capital Restructuring, part of the Robert W. Kolb Series in Finance, provides a fresh look at the current state of mergers, acquisitions, and corporate restructuring in both developed and emerging markets. Filled with in-depth insights and practical advice, this reliable resource contains detailed discussions of several different forms of physical restructuring such as divestitures as well as capital restructuring. Along the way, it also explains the financial aspects of these transactions and clearly addresses the legal, regulatory, tax, ethical, social, and behavioral issues associated with them. Divided into six comprehensive parts, with contributed chapters from leading academics and practitioners from around the world, The Art of Capital Restructuring includes the latest M&A-related research, with coverage extending from basic concepts, motives, strategies, and valuation techniques to their application to increasingly complex, real-world situations. Chapter by chapter, it explains these methods from both a management and investor perspective while emphasizing the wealth effects they have on shareholders. Engaging and informative, The Art of Capital Restructuring distinguishes itself in many ways from other books on this topic. Blending recent theoretical developments with the results of relevant research studies and actual M&A examples, it skillfully: Examines best practices that lead to M&A success, including valuing the target, negotiating and financing the deal, and engaging in post-acquisition planning and integration Reveals research dealing with both foreign and domestic firms, detailing the cross-border effects involving developed and emerging markets Details both the technical and human aspects of M&As, from valuation issues to corporate governance and cultural due diligence Outlines different M&A takeover and defensive takeover strategies And much more As markets become more integrated, the debate about the long- and short-term performance of M&As continues to intensify. The Art of Capital Restructuring will help you gain a firm understanding of both the art and science of this discipline and put you in a better position to continue to create shareholder value in the process.