Recent Articles

Mergers, Acquisitions, and Investment Banking: Payment Issues in Deal Structuring

This knol discusses how to structure fixed and variable share for share exchange ratios to preserve value in M&A deals.

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Understanding Mergers, Acquisitions, Restructuring, and Investment Banking Terminology

Key Terms Commonly Used in Discussing M&As

Mergers can be described from a legal perspective and an economic perspective. This distinction is relevant to discussions concerning deal structuring, regulatory issues, and strategic planning. The purpose of this article is to help clarify some of the terms commonly involved in discussing M&As and other types of corporate restructuring.

The Role of Holding Companies in Mergers and Acquisitions

A holding company framework often is used as an investment vehicle in corporate takeovers. The intent of this article is to identify the advantages and disadvantages of using this type of structure as an acquisition vehicle.

Understanding Friendly versus Hostile Mergers and Acquisitions

All completed transactions end in negotiated settlements. Most are initiated on a friendly basis. However, almost one in five bids represents a hostile takeover attempt. This article attempts to clarify the dfferences between the two and why most transactions are of a friendly nature.

Poison Pills as a Merger and Acquisition Defense

The intent of this article is to explain how so-called poison pills often are deployed by firms in an attempt to negotiate higher purchase prices from potential bidders or to thwart unwanted takeover attempts. A numerical example is provided to illustrate how they may work in practice.