Mergers and Acquisitions from A to Z

by Andrew J. Sherman

Talking mergers and acquisitions for small- to mid-sized companies can sound exciting as the architects behind the deals are wide-eyed with effective growth strategies. But these complex transactions carry significant risk, no matter how simple or appealing they may look on the outside, and it is absolutely vital for all involved in the deal to make sure they are guarding themselves against costly mistakes that have been the downfall for many leaders and organizations before them. Complete with expert advice, case studies, checklists, and sample documents, Mergers and Acquisitions from A to Z walks you through every step of the process--from valuation to securities laws to closing and successful integration. Updated with the latest trends and regulatory developments, the fourth edition explains further how to conduct due diligence, calculate the purchase price, understand the roles and risks for boards, and more. When done correctly and cautiously, while fully educated on all avenues of the process, your company’s next merger or acquisition should be an exciting, profitable time as you take steps to eliminate rivals, extend territory, and diversify offerings. But you must first be prepared! Don’t make another deal without this trusted resource and its strategic and legal guidance by your side.

Genres: Business, Finance, Nonfiction, Economics

384 pages, Paperback

First published March 1, 1998

About the author

ANDREW J. SHERMAN is a partner in the Washington, D.C., office of Jones Day and an internationally recognized authority on the legal and strategic issues of emerging and established companies. A top-rated adjunct professor in the MBA and Executive MBA programs at the University of Maryland and Georgetown University Law School, he is the author of Raising Capital, Harvesting Intangible Assets, Franchising and Licensing, and Mergers & Acquisitions from A to Z.

Reviews

[Gil Bradshaw · Rating 4 out of 5]

I'm going to give this book five stars, but I don't think this book is for everyone. Seriously Goodreads friends, this isn't the kind of book you should go out and buy, like "Shoe Dog." This book gives a broad overview to the steps of M&A and gives the reader an understanding of the vocabulary. If I were a first or second-year associate attorney and had to go into the M&A department, I would definitely buy this book. And read it in a coffee shop. While drinking a lot of coffee. It's a bit of a slog.

The reason I am rating it so high is because there just isn't much out there on this topic. So I appreciate this book's existence. It fills a niche.

[Tiffany · Rating 4 out of 5]

As if a seasoned lawyer sat me down and walked me through the art and science behind one of the most complex commercial transactions- M&A. Gives you a taste of the laws, ethics, finances, politics, human egos that are interwoven into the very fabric of such deals.

[Billy · Rating 4 out of 5]

As someone who works on deals, there are more creative ways for deals to be structured. Profit-share of 50/50 till Party A breakevens then it'd be a 30/70 split - this is for shareholders who places capital at the forefront (rather than passive returns).

Mainly focused on the US market with the respective rules and regulations.

[Denny Troncoso · Rating 5 out of 5]

Very information and detailed book on Mergers and Acquisitions. If you have any interest in the topic this is a book to read. The offer knows the subject very well. He provided very detailed actions when conducting an acquisition of a business.

[William Schrecengost · Rating 4 out of 5]

A good, extensive study on mergers and acquisitions

[Roo Phillips · Rating 4 out of 5]

3.5 stars. A really good overview of M&A. Seemed like the right amount of detail. A good resource to refer to as needed.

[AnhDuc · Rating 2 out of 5]

Not much interesting information, quite a basic overview of M&A

[Michał Węgrzyn · Rating 4 out of 5]

Boring yet essential

[M U- · Rating 4 out of 5]

Older book on M/A written in late 90s. Still mostly up to date on the topic.

[Adi Gullia · Rating 5 out of 5]

Great guide for anyone interested in learning the basics of M&A and what goes into the acquisition of a company.

[Titan Mellor · Rating 3 out of 5]

This book does a good job at outlining all the logistics of the process but it is not a good book when referring to the philosophy and mindset for this type of entrepreneurship.

[a · Rating 4 out of 5]

Also great for understanding due diligence on companies one might want to work for

[Michael · Rating 3 out of 5]

Useful resource, but oriented more towards large M&A deals than small business. Not the most exciting narration either.

[Ricky · Rating 4 out of 5]

Hard read, chapter 13 should be read at the very least, even if the whole idea of lawyer jargon scares you.

Lots of how to create forms, and dealing with litigations

How lawyers think, nothing like the show Suits :(

[Kayla West · Rating 3 out of 5]

Accomplished as intended; gave a thorough journey of the M&A deal structure. Wished I could have skimmed through the legal examples on the Audible, but appreciated the granularity.

[Sergey Dudko · Rating 5 out of 5]

Key M&A rationale: brand equity, new customers, marketing, profit, share price, talent, new markets, channels, new producst.

Reasons for deal failure: lack of fiancial statements at the seller side, non cooperative target management, due diligenec uncovered deal breakers, shift in the M&A strategy of the potential buyer (e.g., due to change in management), lack of seller's flexbility in price.

Post-acquisition failure happens mainly due to lack on effective communication and lack of the realistic integration / value creation plan.

Employees disengagement trend in the U.S. is an imppartant issue for the buyer during the due diligence process.