Product Description

Dr. Donald DePamphilis explains the real-world of mergers, acquisitions, and restructuring based on his academic knowledge and personal experiences with over 30 such deals himself. The 77 case studies span every industry and countries and regions worldwide show how deals are done rather than just the theory behind them, including cross-border transactions. The interactive CD is unique in enabling the user to download and customize content. It includes an Excel-based LBO model and an M&A Structuring and Valuation Model in which readers can insert their own data and modify the model to structure and value their own deals. New additions to the third edition: 17 new cases, with all 77 cases updated, Glossary, real options applications, projecting growth rates. Student Study Guide on CD contains practice problems/solutions, powerpoint slides outlining main points of each chapter, and selected case study solutions. An extensive on-line instructors manual contains powerpoint slides for lectures following each chapter, detailed syllabi for using the book for both undergraduate and graduate-level courses, and an exhaustive test bank with over 750 questions and answers (including true/false, multiple choice, essay questions, and computational problems).

*Practical, real-world approach with 77 case studies from around the globe
*CD has customized content and the latest models and forecasting tools
*Student Study Guide on CD has practice problems/solutions, powerpoint slides, and selected case study solutions

Product Details

• Amazon Sales Rank: #703067 in Books
• Published on: 2005-07-28
• Released on: 2005-07-29
• Original language: English
• Number of items: 1
• Binding: Hardcover
• 632 pages

Review
"Dr DePamphilis' book is a rare achievement - a textbook that provides "nuts and bolts" information for the businessperson with responsibility for doing a deal. I intend to give a copy to every one of my clients as a 'must read' before considering a merger or acquisition". H. Edward Wesermann, The Edge Group, Edmonton, Canada

Review
"Professor DePamphilis' book is among the most comprehensive and best-written books on the topic of mergers and acquisitions I have ever read. In a world where private equity and hedge funds are supplanting traditional commercial and investment banking, a book like this comes in handy when traditional valuations fail to keep up with financial innovation. It marries the theory and practice. It is practical and complete. It is comprehensive and well-structured. And its attention to the world of cross-border transactions is timely and valuable."
-Paul Schulte, Lecturer, Hilton School of Business, Loyola Marymount University; Chief Investment Strategist, Asia Pacific, Lehman Brothers

"Mergers, Acquisitions, and Other Restructuring Activities provides a comprehensive overview all types of corporate restructurings. The book clearly shows which valuation technique is ideally suited for each type of restructuring. Not only is the validity of the motives of takeovers scrutinized, but this book also deals with corporate governance regulation. The book comprises an exhaustive treatment of all issues that arise in the restructuring processes, be it for takeovers, joint ventures, leverage buyouts, equity carve-outs etc. This book is a superb handbook, a must-read for scholars, practitioners, and policy makers concerned with corporate acquisitions."
-Luc Renneboog, Professor of Corporate Finance, Tilburg University, The Netherlands; Research Fellow at the Center for Economic Research and the European Corporate Governance Institute, Brussels

"Anyone interested in mergers, acquisitions, and restructuring can profit greatly by reading this very fine treatise by Dr. DePamphilis. It is comprehensive, insightful, and well-written. There are many case studies that show how the analyses discussed in the book may be applied. I wish this text had been available for my students at the Tuck School when I was teaching the mergers and acquisitions course there. I have no hesitation in recommending this book to students and practitioners, as well."
-Dennis E. Logue, Emeritus Professor of Management at the Amos Tuck School, Dartmouth College and Chair, Board of Directors Ledyard National Bank; former Dean of the Michael B. Price College of Business at the University of Oklahoma

"This edition of Mergers, Acquisitions, and Other Restructuring Activities provides an excellent framework for mergers and acquisitions analysis. By combining theories, practical aspects, cases, and discussion questions, Professor DePamphilis creates an invaluable book not only for the professionals who work on these deals, but also for the business students learning the insights about the mergers and acquisitions business. This book is a complete and well-structured guide on the important aspects in mergers and acquisitions, covering the process in phase-by-phase details, and the essential background information on regulatory issues and corporate takeover market. What I find most useful and effective in this book as a graduate text is the integration of valuation models, financing strategies, alternative strategies (such as strategic alliances, joint ventures, spin-offs), and a specific focus on the cross-border deals. This book should be a must-read for anyone interested in mergers and acquisitions."
-Tao-Hsien Dolly King, Associate Professor, Department of Finance and Business Law, The Belk College of Business, University of North Carolina at Charlotte

"Mergers, Acquisitions, and Other Restructuring Activities, Fourth Activities is no ordinary M&A text. It is simply the most comprehensive text I have ever read. While most texts, including M&A texts, focus on the technical "nuts and bolts", this book goes far beyond the core M&A issues, to deal with everything that could possibly impact on mergers and acquisitions, from strategic planning and strategic evaluation, to valuation and modelling, substitutes (e.g. strategic alliances, licensing), due diligence, accounting, tax and legal implications, hedge funds, LBOs, integration and post-integration issues surrounding M&As, divestitures, bankruptcy, liquidations.
This text is a tour de force, the go-to text, the magnum opus of mergers and acquisitions. In addition to finance and accounting faculty, I recommend it to commercial bankers, venture capitalists and the larger financial community as well as government regulators such as the SEC and anti-trust folks."
-Ian Lee, PhD, Professor of Strategic Management, Sprott School of Business, Carleton University, Ottawa, Canada

"Mergers, Acquisitions, and Other Restructuring Activities is an interesting and comprehensive look at every aspect of M&A and corporate restructuring - from strategic and regulatory considerations and M&A deal process, through several chapters on M&A valuation and deal structuring, to other types of restructuring activities. It not only provides a road map for the M&A and other corporate restructuring process, but also highlights the key things to watch for. The book is clearly written, with extensive but easy-to-follow case examples and empirical findings to illustrate the points in the text. It is a book by an expert, and for M&A instructors and students as well as practitioners."
-Qiao Liu, PhD, Professor of Business and Economics, University of Hong Kong, China


"Mergers, Acquisitions, and Other Restructuring Activities, Fourth Edition is no ordinary M&A text. It is simply the most comprehensive text I have ever read. Exceptionally well-organized and engagingly written, Dr. DePamphilis' excellent 4th Edition provides a comprehensive and in-depth treatment of mergers and acquisitions for anyone, from the seasoned practitioner to the student novice. The book's expansive scope and up-to-date cases and examples provide practical, useful guidance for every phase of the restructuring process, derived from the author's considerable experience, and anchored in solid academic research."
-Wesley B. Truitt, PhD, Adjunct Professor, Anderson Graduate School of Management, UCLA and former Vice President of Northrop Grumman Corporation

"Whether one is a new student or an experienced M&A professional, Don DePamphilis' latest book is an invaluable resource. For students and faculty, Don's book provides a well-structured, comprehensive framework for understanding this important business process; the chapters are enriched with useful real-life examples, case studies, and discussion questions. For experienced business executives engaged in M&A or about to embark on this increasingly demanding process, Dr. DePamphilis draws on his extensive experience to offer practical tools and insights for avoiding the pitfalls - and maximizing the opportunities for success-throughout all phases of the M&A process."
-Richard M. Stafford, Principal, Human Capital Management LLC and former Senior Vice President of Human Resources, Montgomery Watson, Inc

"I found Dr. DePamphilis' book to be a comprehensive explanation of all aspects of mergers, acquisitions, and restructuring activities, including the business motivations for using these strategies, the tools of analysis to determine a go or no-go decision and the issues related to implementation. He provides a useful balance of theory, examples, exhibits, spreadsheets, and cases. Given the importance of the financial calculations, he has an appropriate level of emphasis in this area. Dr. DePamphilis explains the financial calculations used in these activities and walks the reader through them with examples and exercises for the reader. He also explains why these analytical tools are used or not used, known issues or limitations with each analytical tool, and he suggests practical solutions to resolve the issue or limitation. He also goes beyond the financial issues including the legal, tax, accounting, and implementation issues such as deal structuring, common implementation mistakes, and organizational issues.
Because of the broad scope of the book, I appreciated the many references to additional sources of information for the reader. In this way, if the reader has a particular area of interest on a specific subject or issue, they can easily go deeper into this area. I recommend Dr. DePamphilis' book to anyone wanting a complete understanding of the theory and practical application of mergers, acquisitions, and restructuring activities."
-Brant Kline, CEO B/Kline Consulting and former VP General Manager, Latin America, Avery Dennison Office Products

"Seldom do you discover a finance book that is crisp, direct, content-rich, and lucid with easy to read formulae, like Dr DePamphilis' latest book, Mergers, Acquisitions, and Other Restructuring Activities. All aspects of mergers and acquisitions are thoughtfully brought into the limelight. The cases are enlightening, the discussion questions are instructive and the references enhance each chapter masterfully. Completing the book leaves you with a gripping understanding of mergers and acquisitions including its international facets. DePamphilis has given the business world a classic."
-Dr. Anthony F. Laviano, Executive Director at Nanotechnology Center, Loyola Marymount University Los Angeles, College of Business Administration

"There are very few books on my read and re-read list. The fourth edition of Mergers, Acquisitions, and Other Restructuring Activities is one of them. Dr. DePamphilis presents the reader with a rich treatment from the perspective of a market participant. He shows a deep appreciation for the broad scope of business, understands the fundamental role of mergers and acquisitions, and is gifted with the talent to share his insights.
Dr. DePamphilis presents the critical nature of analysis (and how to do it) within the context of the psychological drama that plays out every day in almost every company. The result is a compelling, integrated look at the one of the most inter...

From the Back Cover
Business/Finance

Mergers, Acquisitions, and Other Restructuring Activities, Third Edition

Donald DePamphilis

Praise for the First Edition:
Dr. DePamphiliss book is a rare achievementa textbook that provides nuts and bolts information for the businessperson with responsibility for doing a deal. I intend to give a copy to every one of my clients as a must read before considering a merger or acquisition. A few pages into Mergers, Acquisitions, and Other Restructuring Activities I knew it was obviously written by someone who has been there, done that.
H. Edward Weserman, The Edge Group, Edmonton, Canada

Armed with a Harvard Ph.D. and having managed more than 30 transactions, Dr. Donald DePamphilis explains the real-world of mergers, acquisitions, and restructuring based on his academic knowledge and personal experiences. Having taught in both the U.S. and Asia, Professor DePamphilis uses his extensive experience to provide 77 world-wide case studies spanning all industries to show how deals are done rather than just the theory behind them. The accompanying CD is unique in that it enables the user to download and customize sophisticated, transaction-tested, M&A software and other real world content.

Mergers, Acquisitions, and Other Restructuring Activities, Third Edition has been updated to include 17 completely new case studies, updates to all of the already existing case studies, real options applications, a discussion of the implications of M&A for corporate governance, and a detailed glossary. The new edition also addresses the implications of Sarbanes-Oxley for M&A, developing acquirer takeover and target defensive strategies, as well as selecting the appropriate acquisition and post-closing legal structures. M&A modeling applications now include valuation and analysis of divisions of large firms, joint ventures, and other special situations. The CD content has been expanded to include a Student Study Guide with chapter outlines, practice problems and solutions; PowerPoint slides; selected case study solutions; a detailed and customizable due diligence question list; and customizable LBO valuation and analysis software. The on-line instructors manual has been completely updated to include PowerPoint presentations, an expanded test bank including case studies with solutions, examples of excellent student papers, and course syllabi.

Donald DePamphilis is the Clinical Professor of Finance, College of Business Administration, Loyola Marymount University.

Customer Reviews

An excellent, fresh, and novel approach to explaining M&A
Unlike many business books, this book is written with both the student and professional in mind. The book really succeeds in putting together in a coherent way all the aspects of buying an selling businesses. This is a fresh, new approach that relies on plain talk, not theory, and numerous helpful examples to illustrate sometimes challenging concepts. It is the only book I have seen on the subject which views M&A as a process consisting of a series of interrelated, interative activities. Instead of asking the reader to learn abstract theories and wade through reams of numbers, the author uses contemporary short stories to instruct the reader in an enjoyable way. I also found that by providing solutions to many case studies that I was also able to gain additonal insight into the subject matter. While challenging, I especially enjoyed the book's closing chapter which consists of a lengthy business case illustrating the many aspects of the M&A process. The book includes much more than simply M&A. There are excellent discussions of alternative growth strategies and structures such as alliances and joint ventures. In addition, the book provides a comprehensive discussion of alternative restructuring strategies including spin-offs, equity carve-outs, bankrutpcy, etc. This book will go a long way in helping students, professionals, or simply those interested in the subject matter understand the sometmes arcane world of M&A and related topics.

Great book with so many recent landmark transactions
This book contains so many of what must be considered recent pivotal transactions such as AOL and Time Warner, Pfizer and Warner Lambert, Exxon and Mobil, Travelers and Citicorp, etc. It also looks at interesting cross-border deals such as Allianz's purchase of Pimco, Vodafone and Mannesmann, and Daimler's acquisition of Chrysler. The book also addresses some interesting mergers of internet companies such as Excite and @Home. I loved the stimulating discussion of how Tyco and Allied Signal engaged in a game of chess over AMP, matching each others' moves tit for tat. Other recent high profile transactions are used to illustrate how companies can bolster their value through IPOs (e.g., United Parcel Services) and spin-offs (e.g., Hewlett-Packard's spin-off of Agilent). The book even discusses in detail the antitrust implications of the Microsoft case. All in all the book is a treasure chest of stories about highly news worthy deals, each of which is used to illustrate key elements of the M&A process.

Great perspective on the M&A process...insightful/applicable
This book is among the best I've read on the subject...and I have read more than I care to admit. So many books on the subject attempt to "sell" the author's approach or philosophy without providing much documentation or empirical support. Others simply are promoting their consulting practice and opinions based on a few examples. For those of us that have actually done deals rather than simply read about them, we can appreciate the fact that no single formulaic approach to developing and implementing an acquisition strategy works in all cases, i.e., a prescription for disaster.

This book suggests that the author understands how deals are really done. This book takes a holistic view, recognizing that decisions in one area impact other aspects of the deal. Ideas have been thoroughly researched (i.e., they are consistent with my own experience). This book takes a complex subject and makes it understandable by usine numerous examples and tons of recent actual transactions. I found the chapters on analyzing private companies, takeover strategies, antitakover defenses, putting eals together, LBOs, and integration extremely compelling and useful. The chapter on M&A regulatory considerations is the clearest I've have seen on the subject. The final chapter is a business case that in a highly readable way explains how all aspects of a transaction fit together. This book is for those who really want to understand the subject. It is not for those looking for a simple recipe that purports to fit all situations.