Corporate Mergers and Acquisitions by Michael Waks

This book is a practical guide for the successful execution of mergers and acquisitions within mid-to-large sized corporations. The key is deploying tools and processes which build trust among team members and the executive management team. The internal team is complimented by the retention of thoroughly vetted external advisors. Specific advice on how to vet and contract these advisors is detailed. By use of the tools and processes the high-performing transaction team, with members from the Corporate Development department or M&A group, as well as other professionals whose responsibilities include supporting transactions but are not dedicated full-time to M&A, will have a shared understanding of project timing, steps, and responsibilities. Detailed timelines with step-by-step activities are provided for acquisitions, divestitures, licensing, joint ventures, and integration. Lessons Learned are amplified through reference to the authors personal experiences spanning three decades in corporate development and strategy. Included in this guide are sample templates for planning, due diligence check lists, communications, negotiating strategy, and strategic screening which have proven useful across multiple industries. Examples of bid instructions, bid letters, confidentiality agreements, information memorandums, transition services contracts, and fairness opinions are provided to add clarity to the execution steps.