Mergers, Acquisitions, and Corporate Restructurings

by Patrick A. Gaughan

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
* 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

Genres: Business, Finance, Management

648 pages, Hardcover

First published January 1, 1991

Reviews

[R. · Rating 1 out of 5]

I'll admit to having messed around with this book for about the last six months on and off. I bought it thinking that corporate mergers would be something similar to merging large complex divisions within existing organizations and that was something that I wanted to learn more about . . . This is one of those books that you read whole pages and then can't recall anything that was said. This is one of those books that makes you want to give up reading for a week after every chapter or get drunk to remind yourself that there life is not this boring and terrible.

This is a book that will stay on my bookshelf in case I ever need it, but really it's not what I was looking for this time around. It will stay on my bookshelf in part because I can't believe that I could find anyone to buy it without misrepresenting it and scamming them out of their money. It's one of the most boring textbooks I've ever read and spends a ridiculous amount of time talking about tax law, stock options, anti-hostile takeover legal methods and loopholes, wealth transfer, valuation methods, divestiture accounts and laws, etc.

I recommend this book to everyone I dislike and I hope they run out and buy full price copies of it. May they get nosebleeds from the vast amount of utterly useless knowledge contained in this book.

[Karl Yong · Rating 4 out of 5]

I must say the style of writing of this book is not for everyone. While the author certainly is knowledgeable on the subject, M&A touches upon many areas of which hardly a single person could master all.

After reading 2 chapters, I do find Pat as an expert more on the legal and operational side of M&A. One thing I particularly like is how the book could invoke myself to think of M&A holistically, the tone of writing has stricken me as 'honest' and well thought of, unlike some of the Wall Street writers, who can be a bit reckless in their approach and 'frenzy' when faced to present substantial information in an organised manner, appearing to be rushing for deadlines.

On the flip side, as much as the book provokes deeper thinking, the way the content was presented can be perceived as inconcise - quite often, one can feel like he gets the point of the paragraph, but not quite entirely. Nevertheless, I do believe this approach still has its merits of being intuitively consistent - it makes you appreciates the subject more than the other books do.

This book is not entirely suitable for total beginners to fully appreciate and understand. If you're looking for a book just to know more terms and concepts on a fundamental level, other books would serve this purpose better. However, if you like one of the many possible deeper thought processes into M&A, this book might serve you well.

A note of caution, as much as this books appeared to attempt to cover non-U.S. activities for comprehensiveness, M&A in a local context differs substantially and I believe parts on these should be treated as non-exhaustive and non-definitive.

[Nio Nova Christiana · Rating 4 out of 5]

Reading this book was mandatory for the course and several assignments. The reader won't feel like it is reference at all since the author makes it so easy to digest to whoever read with very different background of study. Even though there are some terms and other subjects which are not so clear, so new, or rare, it is still fine. The readers have to google to read the short summary of it, yet the author doesn't get carried away with so difficult passages to be understood by common readers.

[Valters Bondars · Rating 4 out of 5]

7/10

[Ali Hassan · Rating 5 out of 5]

M&A is very vast field & have crusial role in corporate finance. It's a game of chess one black knight at your gate and white king pay the price.