Mergers, Acquisitions, and Corporate Restructurings

In today's global economy, companies increasingly look to mergers, acquisitions, and corporate restructurings to meet the growing demands of a changing environment. Whether undertaken to speed growth, increase market share, or to realize synergistic benefits, managers pursue deals in the hope of more profitable growth opportunities for the participants. In this updated and revised Third Edition of the book that won the Book of the Year Award in its category from the Association of American Publishers, the author takes a fresh look at the latest trends in the art of mergers and acquisitions, both in America and abroad. Combining a historical focus with a review of the current laws that govern the game, Patrick Gaughan explains the tactics and mechanics of mergers and acquisitions in simple terms, while demonstrating how to manage the complexities of corporate restructurings. As a practical and comprehensive reference, this book focuses on nearly every type of corporate restructuring in use today. From mergers and acquisitions, to divestitures and joint ventures, to leveraged buyouts and recapitalizations-this book covers it all. Updated with the latest research and recent case studies in the field, Dr. Gaughan analyzes and explains not only the financial aspects of these transactions, but the economic, legal, tax, and regulatory considerations as well. He offers an expert, international look at the motives that inspire mergers and acquisitions, along with the best offensive and defensive tactics for undertaking or thwarting hostile takeovers. He explains these methods from both management and shareholder viewpoints, emphasizing shareholder impact through a review of the wealth effects of different tactics. This updated Third Edition also reexamines the value restructurings available for the new generation of companies, and thoroughly explains specific techniques used to value both public and closely held businesses. In addition, readers will appreciate the many timely and easy-to-understand charts and tables included in the text. Competing in the global marketplace requires a precise understanding of the ins and outs of corporate restructurings, their effects on your business, and how best to navigate their complexities. Mergers, Acquisitions, and Corporate Restructurings, Third Edition offers the perfect map for the informed corporate manager.