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2022 | Book

Mergers & Acquisitions

Understanding M&A Processes for Large- and Medium-Sized Companies


About this book

Mergers & acquisitions are an essential instrument of strategic corporate management for companies of all sizes. The success of an M&A project highly depends on an optimal transaction preparation, fast execution and the experience of all parties involved. Due to numerous endogenous and exogenous influences, no two M&A transactions are alike at the detailed level.

This book is designed as a practical M&A guide for students and professionals alike. In addition to dealing with important basics of mergers & acquisitions, the focus is on a structured and in-depth examination of the individual process steps of a typical company sale. At various points in this book, specific differences between a company sale of medium-sized companies (mid-caps) and large companies (large-caps) are discussed in detail.

Table of Contents

1. The Foundation of the Consideration
Over the past decades, certain terms and developments have obtained extraordinary prestige due to their contextual and conceptual innovative strength. M&A is one of these phenomena. Especially in the last few years, due to media-accompanied M&A activities of large enterprises, this term has concurrently occupied a special position in the international business press and international economy. The planned takeover of Volkswagen by Porsche, which resulted in a takeover of Porsche by Volkswagen, is a good example of the crowd-pulling power of M&A.
Maximilian Dreher, Dietmar Ernst
2. David and Goliath: Mid-cap and Large-cap Companies
Whether mid-caps or large-caps, both groups have become indispensable in the global corporate landscape. For many years, German large-caps, e.g., Volkswagen or Siemens, have played a significant role as an employer for a great number of people and repeatedly impress the world with fascinating innovations. But mid-caps do not have to hide themselves in comparison to large-caps. The great output quantity of innovations and the global market leadership in various niche segments are noticeable characteristics of medium-sized companies, especially in Germany.
Maximilian Dreher, Dietmar Ernst
3. M&A Sales Process
As mentioned earlier, there is no such thing as a universal M&A process flow. There are rather various factors internal to the company (that can be influenced) and external to the company (that cannot be influenced) that make each corporate transaction special and unique. During the course of each transaction, whether it is a sale of a company or an acquisition, there are acquisitions, there are milestones that can be used as guidelines by the transaction participants to orient themselves. Thanks to these milestones the complexity of an M&A process is reduced; the core of the process is standardized and the transaction execution can be accelerated significantly.
Maximilian Dreher, Dietmar Ernst
Mergers & Acquisitions
Maximilian Dreher
Prof. Dr. Dr. Dietmar Ernst
Copyright Year
Electronic ISBN
Print ISBN

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