Maximizing Corporate Value through Mergers and Acquisitions - (Wiley Finance) by Patrick A Gaughan (Hardcover)

Book Synopsis

Examining how M&A fits in corporate growth strategies, Maximizing Corporate Value through Mergers and Acquisitions covers the various strategic reasons for companies entering mergers and acquisitions (M&A), with a look at those that are based on sound strategy, and those that are not.

• Helps companies decide whether M&As should be used for growth and increased corporate value
• Explores why M&A deals often fail to deliver what their proponents have represented they would
• Explains which types of M&A work best and which to avoid

With insider guidance on what boards of directors should be aware of when evaluating proposed deals, Maximizing Corporate Value through Mergers and Acquisitions provides a sound foundation for understanding the risks involved in any mergers and acquisitions deal, before it's too late.

From the Back Cover

Maximizing Corporate Value Through Mergers and Acquisitions
A Strategic Growth Guide

Companies enter into mergers and acquisitions (M&A) in order to grow their businesses. This seems like an obvious point, but a look through the annals of M&A reveals that companies and executives disregard this basic principle surprisingly often. Whether through faulty analysis, poor organizational decision-making, or getting caught up in the heat of the deal, even the best businesses and their leaders find ways to fumble these high-stakes transactions. Yet many M&A debacles could have been avoided through a better understanding of exactly why past deals have and haven't worked.

Maximizing Corporate Value through Mergers and Acquisitions cuts through the hype surrounding M&A to take a calm, considered look at the many strategic growth options available to businesses. Utilizing the large body of research in this field, author Patrick Gaughan walks readers through both the risks and the benefits associated with different kinds of deals. In so doing, he offers a comprehensive treatment of key factors--including market, industry, and psychological considerations--and their role in successful and unsuccessful outcomes.

A vital handbook for professionals considering strategic growth, Maximizing Corporate Value through Mergers and Acquisitions provides sound guidance and illustrative case studies on topics including:

• Ensuring that M&A is part of an overall growth strategy
• Understanding and achieving synergies
• M&A for diversification
• M&A for horizontal and vertical integration
• M&A in emerging markets
• The impact of valuation and premiums on deals
• "Deal reversal" strategies to mitigate damage when deals don't deliver as anticipated
• Pursuing organic growth instead of growth through M&A
• Alternatives to M&A such as joint ventures or strategic alliances
• And more

An essential reference for boards, executives, advisors, and other practitioners, Maximizing Corporate Value through Mergers and Acquisitions offers an up-to-date guide for navigating the complex yet rewarding world of M&A.

About the Author

PATRICK A. GAUGHAN is President of Economatrix Research Associates, an economic and financial consulting firm with offices in New York City; Newark, New Jersey; and Miami, Florida. Gaughan holds a PhD in economics and is a graduate professor of economics and finance at the Silberman College of Business at Fairleigh Dickinson University in New Jersey. He is also the author and/or editor of eight other books.