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4 of 5 people found the following review helpful
4.0 out of 5 stars Good literature overview
Most sections have a good overview, although debt restructuring is handled better. Some sections like recap's , LBO's and share repurchases are well written. The book will become more relevant as HLT's emerge once again.
Haven't seen a better book on restructuring and reorganizations. Having said that, i'd like to see a new edition soon.
A caveat; this is not...
Published on March 31, 2000

versus
22 of 23 people found the following review helpful
2.0 out of 5 stars I expected more
Considering the reputation of the primary author, I found the book to be ponderous to read and seemingly focused more on what the authors wanted to discuss than what might be really useful to students and those practicing M&A. The authors should have sought a more appropriate balance between theory and practice. This tome is weighted in favor of theory. It seems to...
Published on September 23, 2001 by Kim Dalio


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22 of 23 people found the following review helpful
2.0 out of 5 stars I expected more, September 23, 2001
Considering the reputation of the primary author, I found the book to be ponderous to read and seemingly focused more on what the authors wanted to discuss than what might be really useful to students and those practicing M&A. The authors should have sought a more appropriate balance between theory and practice. This tome is weighted in favor of theory. It seems to spend more time addressing societal issues and issues of government policy than addressing the mechanics of how to plan for and implement transactions. In fact, only the last few pages of the book deal superficially with an approach to doing M&A.
The book also assumes substantial knowledge of accounting, finance and economics on the part of the reader. The dearth of examples also hinders the readers ability to readily understand how to apply complex concepts explained in torturous paragraphs of prose. It would have been helpful to use more illustrations to communicate concepts that are difficult for those of us that don't have Phds to understand.
Thankfully, there are other books that are far more helpful in explaining both theory and application of M&A. I have found Mckinsey's book on Measuring and Managing Valuation to be a much better guide to understanding how to apply complex valuation techniques. Integration methodology is well explained in Marks and Clemente's Winning at Mergers. For an excellent detailed overview of M&A, see Depamphlis Mergers Acquisitions and Other Restructuring or Weston's other, more recent book on M&A.
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8 of 9 people found the following review helpful
2.0 out of 5 stars Interesting Subject... Boring Book, February 7, 2005
By 
Paul Ireland (Minneapolis, MN USA) - See all my reviews
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This review is from: Takeovers, Restructuring, and Corporate Governance (4th Edition) (Paperback)
The subject of this book is quite interesting and the knowledgable authors add many insights into the field of Mergers and Aquisitions. However, the book is poorly written and designed. Simply opening the book will show colorless pages and bland figures that perfectly reflect the tone and content within. There is also a surprising number of spelling mistakes and grammatical errors (something I should not expect if I'm paying over $100 for a book).
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7 of 8 people found the following review helpful
3.0 out of 5 stars Broad coverage but lacks focus, June 24, 1999
By A Customer
Three cheers (stars) for Weston's attempt to cover a vast subject in less than 500 pages of manuscript. My criticism is precisely that: the book skims the surface of a multitude of issues, providing tremendous overview and perspective, but little focus on specific topics.
Rather than a narrative like many books on this subject, Weston uses the layout of a university text book. This has pluses and minuses. At best, it gives the reader an opportunity to see the range of issues in a single framework; at worst, one comes away with little discussion of specific topics. For example, what insight can be gained from a single page discussion of such diverse and complex issues as CAPM, Porter's Five Forces and financial restructuring?
Clearly this book is for the MBA student with background understanding or the practioner who wants to see the wide array of issues in perspective. Nonetheless, I do find this a superior reference book: there are case discussions of all the recent and significant deals (through 1998), both US and European. Here, Weston provides more insight than Wasserstein's "Big Deal" by giving academic perspective and context to many headline M&A deals.
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10 of 12 people found the following review helpful
2.0 out of 5 stars Largely Disappointing, May 12, 2001
By A Customer
The book is really only useful for those interested in a literature survey, discussion of public policy, and somewhat tedious discussion of theoretical concepts.
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4 of 5 people found the following review helpful
4.0 out of 5 stars Good literature overview, March 31, 2000
By A Customer
Most sections have a good overview, although debt restructuring is handled better. Some sections like recap's , LBO's and share repurchases are well written. The book will become more relevant as HLT's emerge once again.
Haven't seen a better book on restructuring and reorganizations. Having said that, i'd like to see a new edition soon.
A caveat; this is not a text. It assumes a level of competence on the subject and is an extremely good reference.
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1 of 1 people found the following review helpful
2.0 out of 5 stars Unintersting, April 10, 2010
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J. Fred Watson is infinitely knowledgeable about the subject of M&A, but his writing style has to be the most boring uninteresting bunch of words thrown together I've ever read. One of the biggest weaknesses of the M&A class I am taking is his textbook. I have an on-line copy of ed. 4 and an ed. 3 hardback, beside the illustration being the most bland I've ever seen in my 36 years, he fails to highlight or make bold keywords, points and references in the book. The books themselves fail to be a tools for teaching as opposed to research papers. Furthermore rarely do you find any of the answers listed plainly in the text. The questions at the end of the chapter might ask you question that you have to go outside of the text for the answer. The assumption is you already have a background in Finance and Accounting.

Anyone who has to read any of the above mentioned works should be ready for frustrating borefest with terrible hard to understand charts and some of the worst explained examples of how to work the analysis portion of the mergers that I've ever seen in any book.
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1 of 1 people found the following review helpful
5.0 out of 5 stars Book, July 21, 2012
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I bought this book for the class I m taking. The book is ok, very helpful to have if you are taking a class. The seller did a great job, book was shipped very fast and I had it in no time. Thank you.
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1 of 1 people found the following review helpful
1.0 out of 5 stars Please don't recommend for classroom studies, June 5, 2011
This review is from: Takeovers, Restructuring, and Corporate Governance (4th Edition) (Paperback)
Like others have mentioned, I have found this book to be extremely uninteresting and more of a literature review than a text for accounting or finance students. I am most frustrated by my institution for selecting this text because they assume this text is capable of teaching the concepts of M&A analysis. It most certainly would need far more clearly written examples along with the actual equations necessary to conduct valuation analysis. This is a terrible choice for classroom use, especially those classes where the accounting of M&A transactions will be tested on. If anyone is considering this text, please don't for the sake of your students!
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6 of 9 people found the following review helpful
5.0 out of 5 stars Solid Foundation, January 4, 1999
By A Customer
With over 500 books about mergers out there, why read this one? Because more than any other M&A book in print today (and there are many excellent ones) it provides the most solid foundation for M&A understanding. The primary author, J. Fred Weston, has conducted extensive empirical research in the merger field, and this book shows it. (And yes, he is the J. Fred Weston you know from your finance studies - he's a guru in the field.) "Takeovers" explains not only how the M&A process works, but why it has been a positive force for individual companies and for the economy as a whole. Beginning with the takeover process, Weston, Chung, and Siu explain the legal, regulatory, and accounting framework for mergers, moving on to a review of research and a strategic perspective on valuation. Extensive discussion of restructuring, strategic planning, and corporate governance follow. The last section presents case studies of successful M&A. Written throughout in clear English, but never "dumbing down" (financial formulas and research endnotes are included), this tome (504 pages) will appeal to anyone who seeks a broader and deeper understanding of the M&A phenonenon. Most books about M&A are either how-to manuals or policy essays. This book combines both traits in a uniquely valuable package.
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2 of 3 people found the following review helpful
4.0 out of 5 stars GOOD Overview!!!, October 4, 1999
By A Customer
This textbook by Weston et al. provides an excellent overview of the various forms of M&A. However, having bought the previous edition, I was a bit disppointed with the extent of the revisions. For instance: in the chapter International M&A, which have undergone dramatic changes in the 8 years between the two editions, hardly any alterations have been made. This criticism also applies to a few other chapters. In summary though, had this book been updated in more detail, I would have given it five stars without hesitation!!
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Takeovers, Restructuring, and Corporate Governance (4th Edition)
Takeovers, Restructuring, and Corporate Governance (4th Edition) by J. Fred Weston (Paperback - August 2, 2003)
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