Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances [Hardcover]

Arthur H. Rosenbloom (Editor)

Book Description

Series: Bloomberg Financial | Publication Date: October 8, 2002

Companies of all sizes have been initiating international transactions--mergers and acquisitions, joint ventures, strategic alliances, and private placements--in record numbers. Targeted due diligence is crucial to effectively research, value, and complete these complex deals. With an evolving climate of uncertainty and new, unpredictable threats to business, it is more essential than ever before.

Due Diligence for Global Deal Making is an invaluable guidebook for companies trying to capitalize on the opportunities in both developed and emerging cross-border markets. All too often global transactions fail to meet the parties' expectations, and the leading culprit is inadequate due diligence. Especially when the target partner lacks a financial performance track record and significant assets, expanding businesses must answer difficult questions, such as: Why (if at all) do this deal? What are the rules going in, and what happens if things go wrong? Where are the tax, legal, financial, and operational traps, and what are the opportunities? This book provides what’s needed to avoid devastating mistakes and to master the steps that ensure success:

• Expert analysis, insights, and strategies from experienced practitioners and leading authorities in cross-border matters
• In-depth coverage of critical topics decision makers need to understand in order to succeed in cross-border transactions--from corporate planning to operational, financial, legal, tax, accounting, and people/organizational considerations
• Best practices of corporate investors and professional advisers in conducting critical due diligence

Noted experts discuss critical topics corporate executives--and all those involved with their company's legal, operational, accounting, and tax matters--need to know to successfully complete complex global transactions today.

Editorial Reviews

Review

"The in-the-trenches wisdom of Due Diligence for Global Deal Making can help organizations implement at least an ounce of prevention in these dangerous times." (Business Finance magazine)

Review

"It's hard to find a book more timely than Due Diligence for Global Deal Making. The rapid growth of global markets in the last decade of the twentieth century increased the risk of fraud and problems in understanding legal and financial documents and assessing operations. Arthur Rosenbloom, a top authority on due diligence, has correctly diagnosed the situation and edited a useful and strategically important book. Many of the recent financial scandals to which we are witness might have been avoided had the lessons appearing in this work been heeded."
—Vladimir Kvint, PhD
Professor of Management Systems and International Business, Fordham University
Author, The Global Emerging Market in Transition
Contributing Editor, Forbes Global magazine

"This is a timely book that brings back the commonsense, in addition to the applied forensics, approach to due diligence. In light of recent dramatic due-diligence failures, deal participants need to make sure they fully understand the company that is undergoing a corporate transaction. Due-diligence issues are often exacerbated in cross-border deals, making this book's global focus very relevant."
—James H. Zukin
Senior Managing Director, Houlihan Lokey Howard & Zukin Capital

"Thoughtful due diligence has never been more important in deal making, and this book gives you all the tools to get the job done. It also goes beyond diligence to clarify strategy and long-term objectives. It's a critical business reference."
—Rick Rickertsen
Chief Operating Officer, Thayer Capital Partners
Author, Buyout: The Insider's Guide to Buying Your Own Company

See all Editorial Reviews

Product Details

• Hardcover: 344 pages
• Publisher: Bloomberg Press; 1 edition (October 8, 2002)
• Language: English
• ISBN-10: 1576600920
• ISBN-13: 978-1576600924
• Product Dimensions: 6.3 x 1.2 x 9.3 inches
• Shipping Weight: 1.5 pounds (View shipping rates and policies)
• Average Customer Review: 5.0 out of 5 stars  See all reviews (3 customer reviews)
• Amazon Best Sellers Rank: #104,996 in Books (See Top 100 in Books)
  • #27 in Books > Business & Investing > Management & Leadership > Consolidation & Merger
  • #28 in Books > Business & Investing > International > Exports & Imports

Customer Reviews

Most Helpful Customer Reviews

7 of 7 people found the following review helpful:

5.0 out of 5 stars A Remarkable Accomplishment, March 4, 2003

By 

R. Houck (New York, NY) - See all my reviews
(REAL NAME)   

This review is from: Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances (Hardcover)

Due Diligence for Global Deal Making is one of the most enlightening and comprehensive books of its kind. Editor and contributor Arthur Rosenbloom has identified a group of thoughtful, experienced due diligence practitioners who describe the process from seven different points of view. The process is covered both from an in-bound and an out-bound standpoint. Despite the diversity of perspectives, the book maintains a consistent style and voice and refrains from undue repetition.

Each of the seven substantive chapters looks at a business using a slightly different lens: strategic, operational, financial and accounting, legal, tax, organizational and, oddly but perhaps most interestingly, the Internet. Scattered through the chapter are cautionary tales of what can go wrong in the real world if the practitioner or the client cuts corners. At the end of each chapter is a series of charts and lists which sets forth the subjects of investigation, often with indications of where to find the information or how it is important to the evaluation of the target.

For anyone who has to conduct, supervise or coordinate due diligence, this overview is remarkably helpful. For the young attorney, accountant or business strategist, Due Diligence provides a veritable Bible for his or her own due diligence. But more importantly, the book informs the reader how the information gleaned fits into the overall process.

Rosenbloom's brief but enlightening look at the due diligence world post 9/11 is among the most compelling parts of the book. This section alone can be worth the price of the book. The possible effects of terrorism or war on a business, in concrete terms, or on the material adverse change or force majeure clauses of a contract are sobering and helpful.

Describing due diligence from seven points of view and then domestic and foreign aspects on top of that is a tall order. This informative book is a remarkable, and even entertaining accomplishment...

5 of 5 people found the following review helpful:

5.0 out of 5 stars Do Better Deals by Doing Better Due Diligence, November 5, 2002

By 

Ira T. Kay, Executive Compensation Consultan... (New York, New York United States) - See all my reviews

This review is from: Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances (Hardcover)

Doing mergers and acquisitons that create value for shareholders is harder than ever. It is even more difficult to do this in a multi-national environment. The compelxities of tax, accounting, securities laws and the regulatory differences add enormous complexities to the already huge challenges of just getting the stragegy right and executing it!!

This handbook, Due Dilignece for Global Deal Making, dramatically increases the odds of doing a deal better. Many experts believe that deals are made or broken in the due diligence phase. That is is where you figure out how much to pay, and the valuation is totally dependent on what you find out and what questions you ask.

This book covers it all from strategic imperative to tax rules. It also has an excellent chapter on my own area of expertise, people and organizational fit. I found the section on beginning to evaluate the fit of the corporate cultures particularly helpful. We think the success of true mergers are highly influenced by the cultural fit.

I would highly recommend this book to anyone practicing in this area, regardless of their area of expertise, as it gives them context for all of the other important, areas.

2 of 5 people found the following review helpful:

5.0 out of 5 stars Packed with Knowledge!, February 25, 2003

By 

Rolf Dobelli "getAbstract" (Switzerland) - See all my reviews
(HALL OF FAME REVIEWER)    (TOP 500 REVIEWER)    (REAL NAME)   

This review is from: Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances (Hardcover)

As with marriage, the success rate for global deal-making should give the wise investor pause. Most such mergers and acquisitions do not increase shareholder value. Even with the fallout from the burst bubble still landing all over the place, the juggernaut of globalization is such that international deals still manage to engender a lot of passion; it seems the grass is always greener on the other side of the border. Business leaders know that sometimes the riskiest move is the one they decide not to make, since a good strategic acquisition can ensure your company's survival. For these reasons, interest in cross-border transactions will probably remain strong, as industries consolidate and as global economic barriers collapse. However, deals that involve foreign accounting and legal practices can be absolutely perilous without expert professional guidance. This clearly written, thorough compilation can help you avoid making a bad decision and improve your odds of success. We from getAbstract strongly recommend it to anyone involved in (or considering getting involved in) global deal making.