Alexandra Lajoux – författare

"M&A financing and refinancing can be a path to progress--starting today, as you read the ideas in this book and dream up your own."--Alex Sheshunoff, From the Foreword

The expansion of a business through merger or acquisition involves experience and wisdom. It involves the ability to envision how two or more combined companies can equal far more than the sum of their parts. It also involves, more often than not, the use of "other people''s money." The Art of M&A Financing and Refinancing tells you how to obtain and repay that money, taking the complex, technical aspects of M&A finance and making them clear, understandable, and applicable to your situation.

This comprehensive reference handbook points you to all the facts, figures, names, and places you need to finance your next deal. Unique in that it concentrates solely on the most fundamental component of the M&A transaction--money--The Art of M&A Financing and Refinancing provides clear-headed advice and guidance on:

The key financial sources and instruments you can use--for any kind of dealHow to select the most appropriate type of financing--debt, equity, or a combination of the twoFinancing via debt--loans, bonds, and leases--and the virtually infinite ways to borrow or lendTactics to consider in contracts, including contingent payments, earn-outs, and equity kickersHow to determine when refinancing is necessary--and plan for it as a probabilityHow volatile global events affect economic systems--and the impact this has on M&A financing and refinancingDebt/equity hybrids and the vehicles through which they travel--including mezzanine financing and seller takeback financing

The ability of one company to acquire another has helped companies throughout history grow stronger, more vibrant, and more competitive. Just as your business must establish satisfying relationships with external vendors and suppliers for its component parts and services, it must also become accustomed to using external financing for growth. Let The Art of M&A Financing and Refinancing show you how to combine the "Main Street" of commercial banking with the "Wall Street" of investment banking, and help you stay on the profitable side of the M&A success ledger.

The most trusted M&A guidebook available--updated for today's extreme-risk world of business.

Major financial scandals, geopolitical upheaval, technological advances, rapid globalization . . . The world--and the way business is done--has changed drastically in the 10 short years since the originalpublication of this book. As a result, the alreadytedious M&A process has become exponentially more complex.

The most trusted guidebook of its kind, The Artof M&A Due Diligence helps you uncover problems and inconsistencies in an M&A deal while they're still manageable. You’ll find everything you need to mitigate all types of traditional risk—financial (key ratios, new GAAP-IFRS standards), operational (background checks, on-site visits), transactional (verification, checking warranties), and legal (intellectual property, environmental law).

This new edition also addresses complicationsintroduced over the past decade by including:

New information about the use of electronic datarooms for due diligenceNew focus on the role of International Accounting StandardsNew tools for Foreign Corrupt Practices Act (FCPA) complianceNew regulations concerning the environment and social issuesNew case law of interest, including key decisionsof the Delaware Chancery Court and Delaware Supreme Court

The fear of risk in an M&A deal is rational, but it shouldn't prevent you from moving ahead. A well-conceived, carefully executed merger or acquisition can be extraordinarily enriching for both buyer and seller. This step-by-step guidebook is all you need to know where to look—and what to look for--when conducting M&A due diligence.

The most trusted M&A guidebook available--updated for today''s extreme-risk world of business.

Major financial scandals, geopolitical upheaval, technological advances, rapid globalization . . . The world--and the way business is done--has changed drastically in the 10 short years since the original publication of this book. As a result, the already tedious M&A process has become exponentially more complex.

The most trusted guidebook of its kind, The Art of M&A Due Diligence helps you uncover problems and inconsistencies in an M&A deal while they''re still manageable. You’ll find everything you need to mitigate all types of traditional risk—financial (key ratios, new GAAP-IFRS standards), operational (background checks, on-site visits), transactional (verification, checking warranties), and legal (intellectual property, environmental law).

This new edition also addresses complications introduced over the past decade by including:

New information about the use of electronic data rooms for due diligenceNew focus on the role of International Accounting StandardsNew tools for Foreign Corrupt Practices Act (FCPA) complianceNew regulations concerning the environment and social issuesNew case law of interest, including key decisions of the Delaware Chancery Court and Delaware Supreme Court

The fear of risk in an M&A deal is rational, but it shouldn''t prevent you from moving ahead. A well-conceived, carefully executed merger or acquisition can be extraordinarily enriching for both buyer and seller. This step-by-step guidebook is all you need to know where to look—and what to look for--when conducting M&A due diligence.

Up-to-date guidance for conducting a successfulM&A for banks and financial institutions

The simmering economic climate since the financial crisis faces a front of new competition and sweeping regulatory reforms expected to drive the U.S. banking sector into consolidation in the next ten years. Capitalizing on the upcoming opportunities will take strategically focused preparation. The Art of Bank M&A is the unprecedented guide to mastering the merger and acquisition of a bank and any other financial institution.

M&A transactions involving financial businesses take place in a framework of regulation, which makes them greatly different from those of commercial companies. The specialized coverage in this one-of-a-kind guide givesyou an insider's interpretation of the Dodd–Frank Wall Street Reform and Consumer Protection Act, along with the most popular techniques and strategies used to shed and acquire financial entities within the regulation. Straightforward explanations and instructive examples from the real world reveal:

Major changes in banking law and unique considerations for bank holding companiesThe why and how of bank M&As, including how banks achieve growth and valueHow to value and validate financial businesses, including the basic steps for determining a price range topurchase a bankTrends in practices, controversy, and reporting for transborder bank M&As, including a convenient summary of inbound and outbound transaction regulationsWhere to find opportunity in distressed and insolvent banks

M&A is the most powerful and risky weapon in financial strategy, and like other books in The Art of M&A series, this latest title gives you everything you need to be savvy in the M&A arena. To prepare for the coming surgein bank mergers and acquisitions, turn to the unmatched, sector-specific guidance in The Art of Bank M&A.

Whether you're a senior bank manager, a government regulator, or an individual investor, The Art of Bank M&A covers everything you need to know about the unique economic structures of banks and financial institutions and the federal regulations they must operatewithin. Sweeping changes brought on by the Dodd-Frank Act as well as the new economic environment still emerging from the 2007–2009 financial crisis makes this timely guide a must-read for everyone involved in banking and M&A.From valuing a business entity to post-merger integration, this conveniently organized guide walks you through every important step of a bank M&A, including:

The regulatory framework of bank mergers, and the strategies and standards driving the transactionThe reasons behind banks combining their resources,processes, and responsibilities through mergersHow to put a price on the value one financial entity brings to anotherHow banks create value through synergy250 critical questions on the minds of today's forward-thinking professionals

Even if you're not directly involved in M&A transactions, this book provides both institutional and individual investors with useful information on the latest investment vehicles and strategies for making money on bank stocks.

Before opportunity washes away, learn The Art of Bank M&A.

Up-to-date guidance for conducting a successful M&A for banks and financial institutions

The simmering economic climate since the financial crisis faces a front of new competition and sweeping regulatory reforms expected to drive the U.S. banking sector into consolidation in the next ten years. Capitalizing on the upcoming opportunities will take strategically focused preparation. The Art of Bank M&A is the unprecedented guide to mastering the merger and acquisition of a bank and any other financial institution.

M&A transactions involving financial businesses take place in a framework of regulation, which makes them greatly different from those of commercial companies. The specialized coverage in this one-of-a-kind guide gives you an insider''s interpretation of the Dodd–Frank Wall Street Reform and Consumer Protection Act, along with the most popular techniques and strategies used to shed and acquire financial entities within the regulation. Straightforward explanations and instructive examples from the real world reveal:

Major changes in banking law and unique considerations for bank holding companiesThe why and how of bank M&As, including how banks achieve growth and valueHow to value and validate financial businesses, including the basic steps for determining a price range to purchase a bankTrends in practices, controversy, and reporting for transborder bank M&As, including a convenient summary of inbound and outbound transaction regulationsWhere to find opportunity in distressed and insolvent banks

M&A is the most powerful and risky weapon in financial strategy, and like other books in The Art of M&A series, this latest title gives you everything you need to be savvy in the M&A arena. To prepare for the coming surge in bank mergers and acquisitions, turn to the unmatched, sector-specific guidance in The Art of Bank M&A.

Whether you''re a senior bank manager, a government regulator, or an individual investor, The Art of Bank M&A covers everything you need to know about the unique economic structures of banks and financial institutions and the federal regulations they must operate within. Sweeping changes brought on by the Dodd-Frank Act as well as the new economic environment still emerging from the 2007–2009 financial crisis makes this timely guide a must-read for everyone involved in banking and M&A. From valuing a business entity to post-merger integration, this conveniently organized guide walks you through every important step of a bank M&A, including:

The regulatory framework of bank mergers, and the strategies and standards driving the transactionThe reasons behind banks combining their resources, processes, and responsibilities through mergersHow to put a price on the value one financial entity brings to anotherHow banks create value through synergy250 critical questions on the minds of today''s forward-thinking professionals

Even if you''re not directly involved in M&A transactions, this book provides both institutional and individual investors with useful information on the latest investment vehicles and strategies for making money on bank stocks.

Before opportunity washes away, learn The Art of Bank M&A.

The authoritative guide M&A professionals have relied on for 35 years—with critical new insights and approaches based on lessons learned from major events and trends of the 2020s For senior executives, bankers, attorneys, accountants, and others, The Art of M&A is the go-to resource for anyone conducting or advising on M&A transactions. It guides you through all phases of the process, covering strategy, valuation, financing, structuring, due diligence, negotiation, closing, and integration/divestitures. Complete with updated research, case law, tax codes, accounting standards, and regulations, this new edition reflects important changes in practices, market trends, court decisions, and state and federal regulations. Updates include:• New deal examples throughout, from Kroger’s/Albertson to X Holdings I, Inc./Twitter.• The latest Delaware legal cases affecting merger agreements, including “fiduciary out” and “material adverse change” clauses critical to buyers and sellers alike.• Brand-new topics, such as de-SPACing, locked-boxes, the one percent U.S. buyback tax, and the pending global minimum tax.The Art of M&A is an indispensable resource for anyone engaged in envisioning, structuring, closing, and prospering from deals that benefit everyone involved.

How much do you really know about money? Everyone uses it, but few know how it really works. Most books about money focus on specific aspects. This book breaks through the usual silos to present money as a broad social technology that serves the current needs of society. It reviews the latest developments in financial technology including cryptocurrency, blockchain, and the prospect of a cashless future; and clears up many misconceptions in the process.

Starting with a very brief history, the authors provide insights on how money is made; why money has value and what can change its value; how central banks, treasuries, foreign exchange, lending, and blockchain work; why you may be trading against robots; and privacy and security issues in an increasingly cashless society that will change our lives. While written for a broad audience, this book is also essential reading for students entering courses in the area of business finance, or money and banking.

How much do you really know about money? Everyone uses it, but few know how it really works. Most books about money focus on specific aspects. This book breaks through the usual silos to present money as a broad social technology that serves the current needs of society. It reviews the latest developments in financial technology including cryptocurrency, blockchain, and the prospect of a cashless future; and clears up many misconceptions in the process.

Starting with a very brief history, the authors provide insights on how money is made; why money has value and what can change its value; how central banks, treasuries, foreign exchange, lending, and blockchain work; why you may be trading against robots; and privacy and security issues in an increasingly cashless society that will change our lives. While written for a broad audience, this book is also essential reading for students entering courses in the area of business finance, or money and banking.

How much do you really know about money? Everyone uses it, but few know how it really works. Most books about money focus on specific aspects. This book breaks through the usual silos to present money as a broad social technology that serves the current needs of society. It reviews the latest developments in financial technology including cryptocurrency, blockchain, and the prospect of a cashless future; and clears up many misconceptions in the process. Starting with a very brief history, the authors provide insights on how money is made; why money has value and what can change its value; how central banks, treasuries, foreign exchange, lending, and blockchain work; why you may be trading against robots; and privacy and security issues in an increasingly cashless society that will change our lives. While written for a broad audience, this book is also essential reading for students entering courses in the area of business finance, or money and banking.