Share Prices and Mergers
Author | : Michael Arthur Firth |
Publisher | : Lexington Books |
Total Pages | : 208 |
Release | : 1976 |
Genre | : Business & Economics |
ISBN | : |
Download Share Prices And Mergers full books in PDF, epub, and Kindle. Read online free Share Prices And Mergers ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
Author | : Michael Arthur Firth |
Publisher | : Lexington Books |
Total Pages | : 208 |
Release | : 1976 |
Genre | : Business & Economics |
ISBN | : |
Author | : Florian Beyer |
Publisher | : GRIN Verlag |
Total Pages | : 24 |
Release | : 2020-04-08 |
Genre | : Business & Economics |
ISBN | : 3346145492 |
Seminar paper from the year 2017 in the subject Business economics - Investment and Finance, grade: 1,7, The FOM University of Applied Sciences, Hamburg, language: English, abstract: This paper will examine the question of how M&A activities influence a company’s stock price and earnings per share (EPS), especially if the bootstrap effect occurs? In 2016, the global mergers and acquisitions (M&A) activities decreased by about 18 percent compared to 2015. Altogether, 17,369 deals with a value of 3.2 trillion (tn.) US-Dollars (USD) were performed. There are numerous reasons to invest and divest in inorganic growth. Organic growth has its limitations, thus acquiring competitors, growing vertically or horizontally as well as accessing new markets are strong motivators to do so. Growing a business is often linked with going public. The decision to be part of the stock market and to perform M&A influences an enterprise’s value for various reasons. To approach these questions, the first chapter gives a general overview of reasons, motivators, risks and benefits of M&A. Thereafter, the influence of M&A on a company’s shareholder value and EPS is examined. Then, the bootstrap effect is explained and subsequently illustrated by an exemplary M&A transaction. Afterwards the risks and benefits of bootstrapping and M&A are analysed to consider its usefulness and influence on the share price and EPS.
Author | : Barbara S. Pécherot Petitt |
Publisher | : Pearson Education |
Total Pages | : 257 |
Release | : 2013 |
Genre | : Business & Economics |
ISBN | : 0133372677 |
Master the latest insights, lessons, and best practice techniques for accurately valuing companies for potential mergers, acquisitions, and restructurings. Concise, realistic, and easy to use, Valuation for Mergers and Acquisitions, Second Edition has been fully updated to reflect the field's latest and most useful "rules of thumb," compare every modern approach to valuation, offering practical solutions for today's most complex and important valuation challenges. Treating valuation as both an art and a science, it covers the entire process, offering up-to-the-minute real-world advice, examples, and case studies. Leading valuation experts Barbara S. Petitt and Kenneth R. Ferris introduce and compare leading techniques including discounted cash flow analysis, earnings multiples analysis, adjusted present value analysis, economic value analysis, and real option analysis. They fully address related concerns such as the accounting structure of deals, accounting for goodwill, tax considerations, and more. Throughout, they identify common errors that lead to inaccurate valuation, and show how to avoid them. From start to finish, this guide doesn't just make valuation comprehensible: it provides the tools and insight to make valuation work. For all financial professionals concerned with valuation, especially those involved in potential mergers, acquisitions, and restructurings; and for corporate finance instructors and students in Executive MBA programs concerned with valuation
Author | : G. Gregoriou |
Publisher | : Springer |
Total Pages | : 292 |
Release | : 2007-11-13 |
Genre | : Business & Economics |
ISBN | : 0230589685 |
This collection of exclusive articles presents the latest research in the area of mergers and acquisitions. It presents what drives corporate performance under different economic conditions, both in the US and across the globe, and examines the role of mergers and acquisitions in maintaining the efficiency of world markets.
Author | : |
Publisher | : Eagle Point Publishing |
Total Pages | : 174 |
Release | : |
Genre | : |
ISBN | : 1450726887 |
Author | : Mark L. Sirower |
Publisher | : Simon and Schuster |
Total Pages | : 321 |
Release | : 2010-05-11 |
Genre | : Business & Economics |
ISBN | : 1439137706 |
With acquisition activity running into the trillions of dollars, it continues to be a favorite for corporate growth strategy, but creating shareholder value remains the most elusive outcome of these corporate strategies—after decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much—and predictably never realize the promises of increased performance and competitiveness—in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals: -The unique business gamble that acquisitions represent -The managerial challenges already embedded in current stock prices -The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy -The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains -The seductiveness and danger of sophisticated valuation models so often used by advisers The Synergy Trap is the first exposé of its kind to prove that the tendency of managers to succumb to the "up the ante" philosophy in acquisitions often leads to disastrous ends for their shareholders. Sirower shows that companies must meticulously plan—and account for huge uncertainties—before deciding to enter the acquisition game. To date, Sirower's work is the most comprehensive and rigorous, yet practical, analysis of the drivers of acquisition performance. This definitive book will become required reading for managers, corporate directors, consultants, investors, bankers, and academics involved in the mergers and acquisitions arena.
Author | : H. R. Machiraju |
Publisher | : New Age International |
Total Pages | : 260 |
Release | : 2007 |
Genre | : |
ISBN | : 9788122414387 |
The Traditional Approach To M&A Was To Restrict The Emergence Of Monopolies. The Modern Approach Embodied In The Takeover Regulations Is Meant To Ensure Efficient Use Of Corporate Resources And Protect The Interests Of Minority Shareholders. The Two Streams Of Corporate Restructuring Are Governed By Different Legislations. Company Law Governs Mergers And Sebi Regulations Govern Takeovers. The Value Of Mergers Which Is Governed By Economic Factors Is Quite Large And Practically Ten Times The Value Of Takeovers. The Market Approach Of Takeovers, However, Instills Discipline In Regard To Use Of Corporate Resources By Promoters And Managements. The Corporate Raider Can Always Approach The Shareholders Directly.The Book Analyses Both The Approaches And Identifies The Need For Strengthening Competition Policy And Preventing The Misuse Of Buyback Provisions For Insider Trading.
Author | : Brosch M. Teucher |
Publisher | : |
Total Pages | : 302 |
Release | : 2006 |
Genre | : Consolidation and merger of corporations |
ISBN | : |
Author | : Ralph Lowell Nelson |
Publisher | : |
Total Pages | : 216 |
Release | : 1959 |
Genre | : Business & Economics |
ISBN | : |
Author | : Ravindhar Vadapalli |
Publisher | : Excel Books India |
Total Pages | : 280 |
Release | : 2007-11 |
Genre | : Business enterprises |
ISBN | : 9788174465702 |
Mergers, Acquisitions and Business Valuation is a practical guide to the methods of Business Valuation covering quoted and unquoted companies. This book will be invaluable to anyone engaged in a practical or academic investigation of company valuation and Due Diligence Process in Mergers and Acquisitions. This book covers American and Indian Corporate Cases. It is written keeping in view the requirements of MBA students, researchers and academicians as well as practitioners.