Mergers, Acquisitions, and Corporate Restructurings, 3rd Edition (Hardcover)

~ (Author) "Five periods of high merger activity, often called merger waves, have taken place in the history of the United States..." (more)
Key Phrases: positive shareholder wealth effects, fourth merger wave, fifth merger wave, New York, Journal of Financial Economics, Journal of Finance (more...)

Editorial Reviews

Product Description

The most comprehensive and up-to-date guide to modern corporate restructuring techniques

Mergers and acquisitions are two of today’s most important competitive tools used by corporations in a rapidly changing global business landscape. In this new updated and revised Third Edition of his groundbreaking book–winner of the Book of the Year Award in its category from the Association of American Publishers–author and business valuations expert Patrick Gaughan illustrates how mergers, acquisitions, and other vital forms of restructuring can work for your company. Packed with helpful advice and proven strategies, this book:

• Explains virtually every type of corporate restructuring, including mergers and acquisitions, divestitures, reorganizations, joint ventures, leveraged buyouts, and more
• Details the latest trends and delivers a modern, international perspective on the field
• Offers comprehensive coverage of the latest methods and techniques for business valuations of both public and closely held companies
• Looks at the key strategies and motivating factors that arise during the course of restructurings
• Analyzes and incorporates necessary legal, economic, and corporate finance considerations
• Presents and examines the latest case studies and research findings
• Offers the best offensive and defensive tactics for hostile takeovers

From the Publisher

This trailblazing book re-examines the value restructurings offer in building a new generation of companies with the power and resources to compete on a global basis. Pragmatic and comprehensive, it focuses on all the types of corporate restructurings available today such as M&As, divestitures, joint ventures, leveraged buyouts, and recapitalizations. The author uses the latest research and case studies in the field to analyze and explain not only the financial aspects of these transactions but the economic, legal, tax, and regulatory considerations as well. --This text refers to an out of print or unavailable edition of this title.

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Product Details

• Hardcover: 648 pages
• Publisher: Wiley; 3 edition (2002)
• Language: English
• ISBN-10: 0471121967
• ISBN-13: 978-0471121961
• Product Dimensions: 9.9 x 7.1 x 2.1 inches
• Shipping Weight: 2.7 pounds
• Average Customer Review: 4.2 out of 5 stars  See all reviews (16 customer reviews)
• Amazon.com Sales Rank: #744,192 in Books (See Bestsellers in Books)

Customer Reviews

Most Helpful Customer Reviews

65 of 68 people found the following review helpful:

2.0 out of 5 stars Weak sister to other John Wiley Classics, February 25, 2001

By	salfregen (Chicago) - See all my reviews

This review is from: Mergers Acquisitions and Corporate Restructuring (Hardcover)

As a graduate professor who teaches several course on M&A, I've chosen two other efforts from publisher John Wiley for this year's curriculum over Pat Gaughan's updated version of his old book. Jeffrey Hooke's "Practical Guide to Doing the Deal" covers most of the same material in a more interesting style and "Winning at Mergers & Acquisitions" shows my students how all of this applies to the real world. Mark Clemente & David Greenspan, authors of "Winning at M&A", helped my students to understand the business rationale behind deals and brought to light many of the reasons so many corporate combinations fail. In addition, the juicy chapters on strategy, due diligence and culture and a whole section on integration best practices -- I feel -- will prepare serious readers on the topic and students of business alike for the M&A challenges that actually exist in corporate America today. Case studies and testaments on what works and what doesn't from corporate VPs and CEOs involved in mergers and acquisitions make "Winning at M&A" the core content I've already added to next year's syllabus. As for John Wiley's reprinting of Gaughan's book, they probably should have asked Hooke and Gaughan to collaborate on an updated version rather than publish two versions of the same manuscript.

22 of 23 people found the following review helpful:

3.0 out of 5 stars Good but incomplete, March 27, 2002

By A Customer

On the whole this is a good book for someone looking to get an overview of M and A. It is well written and reasonably well organized, with an interesting discussion of recent transactions and trends. However, the book continues to suffer from some of the problems in earlier editions. It omits subjects that one would expect to find in an effective M and A textbook. These include integration, alternative strategies to M and A such as JVs, a discussion of how acquisitions support business strategies, how target companies can be identified, target firm contact strategies, etc., how to conduct due diligence, how to build M and A financial models, negotiation strategies, sophisticated valuation methods, etc. There are a number of other books which do a much better job in addressing these areas rather than providing an overview of industry trends, etc. Examples of such books include Fred Weston's M&A (the brief edition) and Donald Depamphilis (?) book Mergers, Acquisitions, and other Restructuring. There are books on this subject that are gems, however, Gaughan's isn't' one of them.

24 of 26 people found the following review helpful:

5.0 out of 5 stars Excellent, concise, pratical M&A + Corp Restructuring guide, July 31, 1999

By A Customer

This review is from: Mergers, Acquisitions, and Corporate Restructurings (Hardcover)

Mergers, Acquisitions and Corporate Restructuring provides informative context and key formulae for both the practitioner and lay-person without ad nauseum details. Patrick Gaughan highlights corporate finance resolutions to business strategy and organization challenges in relevent business cases providing insight to successful transactions. Significantly more readable and concise than McKinsey Consulting's Valuations tome, yet covers similar material. It's not surprising that this book won the Book of the Year Award in its category from the Association of American Publishers. Congrats (and thank you) to Patrick Gaughan!