書籍詳細

書籍詳細




洋書

失敗したM&Aに学ぶ教訓

Material Adverse Change : Lessons from Failed M&as

(Wiley Finance Series)

Stefanowski, Robert V.

Wiley 2018/06
192 p. 24 cm.   
装丁: Hrd    装丁について
テキストの言語: ENG    出版国: US
ISBN: 9781118066898
KCN: 1013379205
紀伊國屋書店 選定タイトル
標準価格:¥9,581(本体 ¥8,710)   
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DDC: 658.1620973
KDC: E220 企業理論
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Annotation

Offers recent M&A case studies that took place during the Great Recession, including Bank of America's purchase of Merrill Lynch and Kraft's purchase of Cadbury.

Full Description

The ultimate guide to successful M&As no matter how the economy's doing No one has written about the true root causes of the recent large M&A failures and why the mergers that were supposed to save the companies and the economy did not work.
Detailed information

Table of Contents

Introduction: The Risks and Opportunities of Doing a Deal xi Chapter 1 Why Bad Deals Happen 1 A Practical Approach to Mergers and Acquisitions 3 A Case Study: RBS Buys ABN AMRO 4 Motivations for Deals 5 A Case Study: Bank of America Buys Merrill Lynch 5 Using M&A to Divert Attention 12 Using M&A to Grow Quickly 12 Using M&A to Solve Problems 13 Horizontal and Vertical Mergers 14 Conclusion 16 Chapter 2 Buy or Build? 19 A Case Study: Commerce Bank 21 A Case Study: Metro Bank 26 Is There Anything in Between? 29 A Case Study: Dow Corning Joint Venture 31 A Case Study: Bucknell Industries 32 Conclusion 34 Chapter 3 Let the Buyer Beware 37 Wachovia Buys Golden West 40 AOL Time Warner Merger 46 Wells Fargo Buys Wachovia 48 Chapter 4 The Opportunities and Risks of Expanding Your Business Globally 51 Telenor India Joint Venture 54 Telenor's Global Strategy over Time 56 Telenor Expands into Eastern Europe 57 Telenor Pushes into Asia 59 The Telenor Unitech Joint Venture 61 Postmortem on the Telenor Unitech Joint Venture 63 Lessons Learned 64 Trends for the Future 67 Chapter 5 Culture Is Critical 69 A Case Study from China 71 A Case Study from Japan 74 A Summary of Other Best Practices 76 Chapter 6 Who Is Behind the Curtain? 85 A Case Study: Lloyds HBOS 87 A Case Study: Kraft Buys Cadbury 96 Chapter 7 Is It Too Late to Back Out? 103 Case Study One: Bank of America Purchases Merrill Lynch 106 Case Study Two: AT&T/T Mobile 110 Case Study Three: Verizon Bids for Yahoo 115 Conclusion 116 Chapter 8 How to Negotiate a Better Deal 119 Ten Best Practices for Effective Negotiation 124 Chapter 9 Making It Right 135 Background 137 Be Strategic 138 Maintain a Rational Organizational Structure 140 Structure the Deal Properly 141 Recognize the Importance of Brand 142 Efficient Distribution 143 Beware of Culture 144 Have Financing Lined Up in Advance 145 Establish an Appropriate M&A Approval Process 145 Integrate Early and Often 146 Clear Legal and Regulatory Process 146 Don't Overpay 147 Continuous Learning 148 A Case Study: J.P. Morgan Buys Bear Stearns 148 Conclusion 152 Chapter 10 Where Do We Go from Here? 155 How Fast We Forget 157 Appendix A Trinity International/American Public Media Group: Material Adverse Change Clause 169 Appendix B Bank of America/Merrill: Material Adverse Change Clause 171 About the Author 175 Index 177