Playing at Acquisitions

Playing at Acquisitions
Author: Han T. J. Smit
Publisher: Princeton University Press
Total Pages: 215
Release: 2015-01-18
Genre: Business & Economics
ISBN: 140085217X

A groundbreaking approach to mergers and acquisitions It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. Playing at Acquisitions provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments. Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts, acknowledge and even embrace uncertainty, identify the value of the real options embedded in targets, and more. Rooted in economic theory and featuring numerous real-world case studies, Playing at Acquisitions will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.

Mergers and Acquisitions Playbook

Mergers and Acquisitions Playbook
Author: Mark A. Filippell
Publisher: John Wiley & Sons
Total Pages: 341
Release: 2010-12-02
Genre: Business & Economics
ISBN: 0470627530

The ultimate "tricks of the trade" guide to mergers and acquisitions Mergers and Acquisitions Playbook provides the practical tricks of the trade on how to get maximum value for a middle-market business. This book uniquely covers how to prepare for a sale, how to present the business most positively, and how to control the sale timetable. Written in a straight-talking style Provides the tricks of the trade on how to get maximum value for a middle-market business Shows how the sellers can take capitalize their inherent "unfair advantages" Examines the differences between "value" and "currency" Explains how to handle bankruptcy and distress company sales Offers tips on managing your lawyers in the documentation process Filled with empirical examples of successful-and unsuccessful-techniques, this practical guide takes you through every step of the M&A process, from how to manage confidentiality, how to create competition (or the impression of competition), to what to do once the deal is closed.

Valuation for Mergers and Acquisitions

Valuation for Mergers and Acquisitions
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

Playing at Acquisitions

Playing at Acquisitions
Author: Han T. J. Smit
Publisher: Princeton University Press
Total Pages: 215
Release: 2017-05-09
Genre: Business & Economics
ISBN: 0691176418

A groundbreaking approach to mergers and acquisitions It is widely accepted that a large proportion of acquisition strategies fail to deliver the expected value. Globalizing markets characterized by growing uncertainty, together with the advent of new competitors, are further complicating the task of valuing acquisitions. Too often, managers rely on flawed valuation models or their intuition and experience when making risky investment decisions, exposing their companies to potentially costly pitfalls. Playing at Acquisitions provides managers with a powerful methodology for designing and executing successful acquisition strategies. The book tackles the myriad executive biases that infect decision making at every stage of the acquisition process, and the inadequacy of current valuation approaches to help mitigate these biases and more realistically represent value in uncertain environments. Bringing together the latest advances in behavioral finance, real option valuation, and game theory, this unique playbook explains how to express acquisition strategies as sets of real options, explicitly introducing uncertainty and future optionality into acquisition strategy design. It shows how to incorporate the competitive dynamics that exist in different acquisition contexts, acknowledge and even embrace uncertainty, identify the value of the real options embedded in targets, and more. Rooted in economic theory and featuring numerous real-world case studies, Playing at Acquisitions will enhance the ability of CEOs and their teams to derive value from their acquisition strategies, and is also an ideal resource for researchers and MBAs.

The Definitive Guide to Underwriting Multifamily Acquisitions

The Definitive Guide to Underwriting Multifamily Acquisitions
Author: Robert Beardsley
Publisher:
Total Pages: 116
Release: 2020-05-07
Genre:
ISBN:

"This is a phenomenal resource for understanding how to underwrite a multifamily deal. Our group, PassiveInvesting.com, has been using a variation of Rob's underwriting model for a couple of years now and we have acquired over $220mil+ in multifamily assets. I highly recommend you listening to Rob and taking advantage of knowledge within this book." -Dan Handford, Managing Partner with PassiveInvesting.com Are you overwhelmed with multifamily investment opportunities that all seem to have the same business plan and projected returns but don't know which one actually makes sense? Do you want to be able to cut through the noise and see the real numbers for yourself? The Definitive Guide to Underwriting Multifamily Acquisitions is the only step-by-step book that provides you with all of the tools you need in order to become a numbers ninja, invest smarter, and structure more profitable partnerships. Get inside the mind of a multifamily underwriting expert and learn the crucial skills required to make better investment decisions, which includes: - Collecting and researching the data needed to underwrite a multifamily investment - Walking through a step-by-step guide to building a purchase, cash flow pro forma, and sale analysis - Designing and performing sensitivity analyses and stress tests to uncover hidden insights about risks, financing, and optimal business plans - Structuring and negotiating partnership structures so you know you're always getting the best deal possible for yourself and/or your investors. "The Definitive Guide to Underwriting Multifamily Acquisitions is a must-read for both passive investors and sponsors looking to take their investments to the next level. Rob delivers lesser-known insights regarding sensitivity analyses, stress tests, and partnership structures in a concise format. Rob provides readers the tools to make confident investments in multifamily partnerships/syndications." -Joe Fairless, Co-Founder of Ashcroft Capital "Rob Beardsley is a true expert at the all-important but often ignored art and science of underwriting. The Definitive guide is a fantastic resource for anyone that needs to learn more about underwriting, and even professional underwriters will find plenty of food for thought in here." -Neal Bawa, CEO, Grocapitus and MultifamilyU "The Definitive Guide to Underwriting Multifamily Acquisitions is a zero-fluff approach to analyzing potential apartment acquisitions. Not only does Rob tell you the exact metrics to focus on prior to moving forward with a purchase, he also gives you dozens of rules of thumb that you can refer back to when underwriting a new opportunity. This alone will save you countless hours while sifting through deals, trying to find the diamond in the rough, and removing those without potential." -Hunter Thompson, author of Raising Capital for Real Estate & Founder of Asym Capital "I've had the pleasure of knowing Rob as a syndicator and investor in the multifamily niche. He's supported reviews on several of our projects. I've always been impressed by Rob's attention to details, ease of explaining more complicated concepts and fresh perspective on deal structuring. I expect you will find this book highly useful as I did." -David Thompson, CEO and Founder, Thompson Investing

Health Care Mergers and Acquisitions Answer Book

Health Care Mergers and Acquisitions Answer Book
Author: Andrew L. Bab
Publisher:
Total Pages: 0
Release: 2016-10-07
Genre: Consolidation and merger of corporations
ISBN: 9781402426322

M&A activity in the health care industry is at its highest level since the 1980s. Organized into four parts, this guide includes practical advice on how to address the various industry-specific issues arising in health care acquisitions.

Playing for a Winner

Playing for a Winner
Author: Brandon Isleib
Publisher: McFarland
Total Pages: 392
Release: 2017-01-10
Genre: Sports & Recreation
ISBN: 1476665389

"He never felt like a Hall of Famer." "You can't argue with championships." "If he was so good, why were his teams so bad?" On talk shows and in sports bars, statements like these are often made about both underrated and overrated players. It's generally accepted that being in a bigger market or on a winning team can cause a player to be overrated, while the opposite can leave them underrated. Examining pennant races to show how much attention a team receives and which teams are getting the most attention provides a context to this familiar commentary. This book studies the effects of the sports media spotlight (and its absence) on the fortunes of teams in pennant races and Hall of Fame inductees. Along the way, the author brings to light accomplished players most non-fans have probably never heard of.