Archive for October, 2007

No Merger: Just Split up Merrill Lynch

Posted on Monday, 29 October 2007.

Let’s take a page from the RBS / Santander / Fortis songbook:  why does an acquisition of Merrill Lynch need to be done by just one financial buyer.  Look at the assets.  There’s enough carrion in Merrill Lynch to feed a flock of banking vultures.  Add in the restructuring funds and think about the possibilities.  They all [...]

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How did you survive when your company was acquired?

Posted on Friday, 26 October 2007.

We’re doing some research on how individuals survive when their company is acquired. 
Obviously, luck plays a large role.  Serendipity intervenes.  But the fact remains that there are people who get fired and others who remain.  Is there anything that people can do to be in the survivor category?
We are looking for personal stories about what [...]

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Smaller deals rather than mega deals? Look at the Serial Acquirers…

Posted on Monday, 22 October 2007.

The New York Times Dealbook on M&A referenced an article from Reuters about Microsoft.  They reported that Microsoft CEO Steve Ballmer said on 18 October that they would focus on up to 20 smaller acquisitions of $50 million to $1 billion each annually rather than mega-deals, despite rumours that Microsoft has been looking at Yahoo and Facebook [...]

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Personnel Today’s Article on Surviving an M&A

Posted on Monday, 15 October 2007.

With over 19,000 redundancies rumoured to be in the offing in ABN AMRO (see Here is the City and its article on ‘ABN / RBS Job Cuts’) and its acquirers following its acquisition by the Royal Bank of Scotland (RBS), Fortis and Santander, it is timely to think once again about the things that employees should [...]

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The need for business intelligence in M&A

Posted on Thursday, 11 October 2007.

We’ve been writing on this blog about the importance of doing deals smarter.  This is even more critical today than ever as the market becomes more difficult. 
Funding a deal with leverage is now more difficult.  The days of lending at 10x EBITDA are now over.  It is more likely that you will see figures at [...]

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Scenario Planning in M&A

Posted on Monday, 1 October 2007.

An acquisition or merger is difficult to get right, and the other alternatives should be vigorously considered before a deal is contemplated.  Those alternatives include organic growth, strategic partnerships, joint ventures, partial ownership of the target, joint shareholdings, or even ‘doing nothing.’ 
But when acquisition or merger is necessary, it must be entered into carefully [...]

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