blog.

Due diligence is an investigation in to the affairs of a company prior to its acquisition....

European developed markets are also near the top of the list, and Europe again accounts for more Index spots than any other region....

2016 saw the completion of two of the sectors largest megadeals that were announced at the end of 2015: Marriott International’s acquisition of Starwood Hotels & Resorts was completed in September 2016...

European hotel deal activity reduced by nearly 10% to c. €19bn in 2016 — still the second highest level ever recorded. The UK’s share of total transaction volume fell from c. 60% in 2015 to only 25% in 2016...

A number of big European apparel retailers are struggling to maintain growth amid heightened competition. Marks & Spencer, Esprit and Benetton are among the names trying to recapture the attention of shoppers...

Every so often the landscape of the watch industry shifts: a key brand gets sold to a major watch group and the balance of power changes ever so slightly. In the last few years, some important changes....

Every so often the landscape of the watch industry shifts: a key brand gets sold to a major watch group and the balance of power changes ever so slightly....

The present outlines the reasons why a written Mandate is necessary if you are serious about selling your business. Our recommendations and comments are based on our experience....

Owners of mid-market companies face numerous issues and challenges leading up to and during the sale process. One big question: When is the preferred time to pursue a transaction?...

In the years ahead, financial markets around the world will have to live without the ever-present China bid. Whether China was a savvy investor or the dumb money, asset prices will likely be lower....

Chemicals groups admit defeat in face of opposition from US activist investors. It would have created the world’s 2nd biggest specialty chemicals company...

​Understanding the mechanisms of company valuation is useful not only because of the importance of valuation in acquisitions and mergers but also because the process of valuing the company and its business unit...

These methods seek to determine the company’s value by estimating the value of its assets. These are traditionally used methods that consider that a company’s value lies basically in its balance sheet....

Unlike the balance sheet-based methods, these methods are based on the company’s income statement. They seek to determine the company’s value through the size of its earnings, sales or other indicators....

Generally speaking, goodwill is the value that a company has above its book value or above the adjusted book value. Goodwill seeks to represent the value of the company’s intangible assets, which often do not...

These methods seek to determine the company’s value by estimating the cash flows it will generate in the future and then discounting them at a discount rate matched to the flows' risk....

The basic stages in performing an accurate valuation by cash flow discounting are:...

The fundamental problem with the methods is that some are based solely on the balance sheet, others are based on the income statement, but none of them consider anything but historic data. We could imagine two...

The following list contains the most common errors:...

For most of 2017, the M&A picture was mixed: In the US, buyers continued acting on historically low borrowing costs and a strengthening economy. Parts of Europe and Asia drove inbound and outbound investment...

Global mergers and acqusitions (M&As) are expected to hit a record $3.2 trillion in 2018 after hitting $2.6 trillion in 2017...

China’s Fosun International has reportedly prevailed in an auction for French fashion house Lanvin, outbidding Qatar-based investment fund Mayhoola, which controls Italy’s Valentino and Balmain....

In the world of mergers and acquisitions, there are typically several hundred transactions per week. While many of the multibillion dollar, cross-border transactions attract most of the press coverage...

Many entrepreneurs think that it is not possible to bring a smaller company public. They feel that a company needs to have a long track record, as well as show a profit....

Have you been unsuccessful in raising capital for your company? Certainly, depending on the profitability of and prospects for a company, raising capital can be a difficult challenge. However, some industries...

Private equity is an asset class that involves the use of equity securities and debt to purchase shares of private companies or those of public companies that will eventually be delisted from the public stock...

In recent years companies experiencing solvency or liquidity problems were able to raise new capital in the debt and equity capital markets with relative ease. In this challenging environment...

By now you’ve done your research and decided that an IPO is the next step in your company’s growth journey. But don’t forget about alternate routes and dual-track approaches, such as a multi-track approach of...

Equity financing is the process of raising capital through the sale of shares in an enterprise. Equity financing essentially refers to the sale of an ownership interest to raise funds for business purposes....

There are more and more cases of business owners who are not ready to sell their businesses, yet would like to take some risk and liquidity off the table. The good news is that there are ways to achieve this ob...

The concept of cash out encompasses several different types of transactions. The common theme is that the shareholders are unlocking some of the capital value of the business by extracting liquidity (cash)...

There is no magic formula to make acquisitions successful. Like any other business process, they are not inherently good or bad. Each deal must have its own strategic logic....

On Monday, news broke that U. K.-based JD Sports Fashion had agreed to buy U. S. sportswear retailer Finish Line Inc. in a deal worth $558 million. In response to the acquisition​, some analysts...

In the first three months of 2018, there were 3,774 deals globally, totaling $890.7 billion. So far this year, there have been $393.9 billion invested in U. S. companies....

During the quarter, domestic M&A values recorded a whopping 5.3 times increase year-on-year...

​Mergers and acquisitions bankers could see a record year for activity, with more than two-thirds of large companies globally expecting to complete more deals this year than in the previous...

The myth that 75% of all mergers fail has long been dispelled. It was based on a statistic related to announcement day effect that failed to capture the reality of corporate value creation....

Luxury goods group Richemont will focus on doing more M&A deals to reshape its business after reporting lower than expected full-year results...

Since 2012, M&A activity has increased dramatically in both number of deals and size of transaction, with the yearly value of global M&A deals tracking above $4.5 trillion for the past four years​....

From 1870 to 1911, John D. Rockefeller constructed what was once arguably the one maximum spectacular trade group in historical past: Same old Oil. Mr. Rockefeller’s trade technique was once to vertically...

At best, mergers and acquisitions (M&A's) have a 50/50 chance of reaching their intended results. Study after study puts the failure rate closer to 70−90%. Why is the failure rate so high?...