This book is an honest attempt to capture the entire spectrum of M&A activity and share the contours of the implementation process. From valuation to integration, the book is sure to help managers think through what such a strategic move would mean to the organisation. The book attempts to provide working knowledge and skill of underlying concepts, contractual obligations, tax impact and legal background of M&A. Precisely, the book is written to show business managers and financial executives which kind of corporate restructuring can be worked out in the organisation and how best to analyse, design and implement M&A deals.
The book can be classified into four basic frameworks. The first three chapters may be clubbed into the conceptual framework, where conceptual issues and economic consequences of M&A are discussed in detail. Critical issues like valuation and due diligence, which forms an integral part of any M&A, are examined with great care to emphasise the framework for pre-merger issues. The legal framework borders on areas like regulatory issues, tax impact, cross-border legal complications, transfer pricing and deal structuring. It is worth mentioning that the structuring of the deals has changed a lot in the recent years under the weight of hundreds of legal precedents, accounting rules and regulatory impositions. The last framework encompasses strategic issues of merger management leading to creation of value to the organisation. Attempt has also been made to find out why mergers fail and how to make them successful. To have a logical conclusion, towards the end, great corporate cases have been presented with high level of clarity and openness to reinforce the learning in earlier chapters. In fact, the cases are the USP of the book.
Contents: Cross-Border Mergers and Takeovers: A Recent Trend / Introduction to Mergers and Acquisitions / Genesis of Mergers and Acquisitions / Business Valuation / Companies Act and SEBI Takeover Code / Legal Procedures for Mergers and Acquisitions / Due Diligence / Merger Management / Strategies for Creating Value Through M&A / Merger and Acquisitions: Why They Fail and How to Make these Successful / Cases in Mergers and Acquisitions / References / Index