Mergers, Acquisitions, and Other Restructuring Activities is unique in that it is the most current, comprehensive, and
cutting-edge text on M&A and corporate restructuring available. It is current in that it includes many of the most
up-to-date and notable deals (e.g., Facebook’s takeover of WhatsApp, the Dell privatization, and Verizon’s mega buyout
of Vodafone’s share of Verizon Wireless), precedent setting judicial decisions (e.g., efforts to overturn defenses at
Air and Sotheby’s), new regulations (e.g., expediting backend mergers), trends (e.g., increasing role of activist
investors in takeovers), and new tactics (e.g., two-tiered poison pill) employed in M&As. Most integrative case studies
are new for this edition and involve transactions that have been announced or completed since 2013. It is comprehensive
in that nearly all aspects of M&As and corporate restructuring are explored. It is cutting edge in that conclusions and
ins are anchored by the most recent academic research, with references to more than 200 empirical studies published
in leading peer-reviewed journals just since 2012. And the substantially updated content is illustrated with numerous
practical exhibits, case studies involving diverse transactions, easy-to-understand numerical examples, and hundreds of
discussion questions and practice exercises.
The highlights of the new edition are listed here:
· New Chapters: Two new chapters: Chapter 9 and 14. Chapter 9 discusses the basics of applying financial
modeling methods to firm valuation and assists the reader in understanding the power (and limitations) of models in
analyzing real world situation. Chapter 14 illustrates how complex financial models often are used to support the deal
structuring process during M&A negotiations.
· New Cases: Ninety percent of the nearly forty case studies are new and involve transactions announced or
completed during the last three years. These cases represent friendly, hostile, highly leveraged, and cross-border deals
in ten different industries, involving public and private firms as well as firms experiencing financial distress. All
end of chapter case studies begin with a "Key Objectives" section indicating what the student should learn from the case
study and include discussion questions and solutions available in the online instructors’ manual.
· Latest Research: This edition focuses on the most recent and relevant academic studies, some of which contain
surprising ins changing the way we view this subject matter. Recent research has significant implications for
academicians, students, M&A practitioners, and government policy makers shedding new light on current developments and
trends in the ever-changing mergers and acquisitions market. The market for corporate control and corporate
restructuring strategies are constantly changing, reflecting the ongoing globalization of both product and capital
markets, accelerating technological change, escalating industry consolidation, changing regulatory practices, and
intensifying cross-border competition. While continuing to be relevant, empirical research covering the dynamics of the
M&A markets of the 1970s, 1980s, and 1990s may be less germane in explaining current undercurrents and future trends.
* Includes two new chapters. Chapter 9 discusses the basics of applying financial modeling methods to firm valuation and
assists the reader in understanding the power (and limitations) of models in analyzing real world situation. Chapter 14
illustrates how complex financial models often are used to support the deal structuring process during M&A negotiations.
* Teaches about the financial, legal, accounting, and strategic elements of mergers and acquisitions by concentrating on
the ways their agents interact.
* Highlights international mergers & acquisitions activities.
* Focuses on the most recent and relevant academic studies, some of which contain surprising ins changing the way
we view this subject matter. While continuing to be relevant, empirical research covering the dynamics of the M&A
markets of the 1970s, 1980s, and 1990s may be less germane in explaining current undercurrents and future trends.
* Features practical exhibits, case studies involving a diverse range of transactions, easy-to-understand numerical
examples, and hundreds of discussion questions and practical exercises.