Covering the field of M&A execution, this accessible and practical book is divided into sections which broadly reflect the chronological order a typical M&A deal follows. Taking the reader through the M&A process, stage by stage, the book describes the challenges and goals for each, and suggests approaches to dealing with these challenges, presenting guidance on how to prepare for the stage. At each stage topics such as strategy, IT, communications, HR considerations and legal/regulatory constraints are addressed. Replete with practical tools such as process flows and sample control documents,…mehr
Covering the field of M&A execution, this accessible and practical book is divided into sections which broadly reflect the chronological order a typical M&A deal follows. Taking the reader through the M&A process, stage by stage, the book describes the challenges and goals for each, and suggests approaches to dealing with these challenges, presenting guidance on how to prepare for the stage. At each stage topics such as strategy, IT, communications, HR considerations and legal/regulatory constraints are addressed. Replete with practical tools such as process flows and sample control documents, the book also contains downloadable template control documents on an accompanying CD. The book also includes a number of interviews with those currently involved in M&A deals, industry perspectives from those outside the process, and is peppered with examples and over 30 case studies and examples. Covering the topic of M&A in general, the book also has a number of sections relating specifically to banking M&A in light of the unique nature of M&A in this industry and recent trends and activities in banking M&A.Hinweis: Dieser Artikel kann nur an eine deutsche Lieferadresse ausgeliefert werden.
Dr Michael McGrath is an established city professional, with over 15 years of experience working for some of the world's leading banks. He is currently a Head of Function for ADM Operations at Lloyds Banking Group. He is a former regional Chief Technical Officer at Merrill Lynch and Project Delivery Director at Bankers Trust and Deutsche Bank. He was a founder of Hibernia Consulting, a project delivery and risk management consulting firm serving major investment banking clients. Michael has spent his professional life implementing complex change, in particular managing Mergers and Acquisitions from the announcement of the deal through to post-merger integration. M&A deals he has worked on include Lloyds TSB Registrars' demerger from Lloyds TSB Group, the Deutsche Bank acquisition of Bankers Trust (then the largest banking acquisition ever made), the Bankers Trust acquisition of NatWest Markets (then the largest banking acquisition in the UK) and IBM's acquisition of Lotus Development. Michael holds an MBA from the Smurfit School of Business; his MBA thesis won the Institute of Accountants in Ireland gold medal for research in 1996. His doctoral research examines risk behaviour in unfamiliar problem domains and he is probably the only person in the United Kingdom to hold a doctorate in banking M&A risk management.
Inhaltsangabe
Tables and Figures xi Foreword xv Acknowledgments xvii Section A: About Mergers and Acquisitions 1 Chapter 1: Introduction 3 Fundamentals of mergers & acquisitions 5 Types of M&A deals 6 Challenges of M&A deals 11 Reasons for M&A 14 Chapter 2: Role of regulation 21 Regulatory regimes 22 UK anti-trust regime 23 European Union regulation 26 US anti-trust legislation 27 Bid process 28 Section B: Fundamentals of the Deal 31 Chapter 3: Anatomy of a deal 33 M&A Stages 33 Phase 1: Prelude (to a deal) 36 Phase 2: Deal negotiation 40 Phase 3: Pre-change of control 44 Phase 4: Change of control 50 Phase 5: Integration 50 Phase 6: Business as usual 53 Section C: Successful M&A 55 Chapter 4: M&A power 57 Clarity 57 Capacity 61 Speed 76 Chapter 5: M&A process 79 Risk management 80 Planning, management and control 106 Project lifecycle and structure 113 Issue management 133 Risk management practice 138 Reporting 149 Assumption management 152 Dependency management 154 Scope change management 157 Quality management 162 Resource management 164 Cost management 166 Communications management 170 Stakeholder management 173 Chapter 6: M&A people 175 Culture 175 Stakeholders 179 Personnel 179 Section D: Pulling It All Together: Delivering M&A 185 Chapter 7: Timing 187 Managing the integration and change of control period 187 Project organisation and control 197 Section E: Banking M&A 207 What makes banking M&A unique? 207 Planning for the post-merger period 211 Planning to get to the change of control 212 Organisational approach 225 Issue management 229 What if it all goes wrong? 235 Section F: Document Templates and Suggested Tables of Contents 239 Control documents 239 Report templates 245 Project document templates 255 Bibliography 289 About the author 291 Index 293
Tables and Figures xi Foreword xv Acknowledgments xvii Section A: About Mergers and Acquisitions 1 Chapter 1: Introduction 3 Fundamentals of mergers & acquisitions 5 Types of M&A deals 6 Challenges of M&A deals 11 Reasons for M&A 14 Chapter 2: Role of regulation 21 Regulatory regimes 22 UK anti-trust regime 23 European Union regulation 26 US anti-trust legislation 27 Bid process 28 Section B: Fundamentals of the Deal 31 Chapter 3: Anatomy of a deal 33 M&A Stages 33 Phase 1: Prelude (to a deal) 36 Phase 2: Deal negotiation 40 Phase 3: Pre-change of control 44 Phase 4: Change of control 50 Phase 5: Integration 50 Phase 6: Business as usual 53 Section C: Successful M&A 55 Chapter 4: M&A power 57 Clarity 57 Capacity 61 Speed 76 Chapter 5: M&A process 79 Risk management 80 Planning, management and control 106 Project lifecycle and structure 113 Issue management 133 Risk management practice 138 Reporting 149 Assumption management 152 Dependency management 154 Scope change management 157 Quality management 162 Resource management 164 Cost management 166 Communications management 170 Stakeholder management 173 Chapter 6: M&A people 175 Culture 175 Stakeholders 179 Personnel 179 Section D: Pulling It All Together: Delivering M&A 185 Chapter 7: Timing 187 Managing the integration and change of control period 187 Project organisation and control 197 Section E: Banking M&A 207 What makes banking M&A unique? 207 Planning for the post-merger period 211 Planning to get to the change of control 212 Organisational approach 225 Issue management 229 What if it all goes wrong? 235 Section F: Document Templates and Suggested Tables of Contents 239 Control documents 239 Report templates 245 Project document templates 255 Bibliography 289 About the author 291 Index 293
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