There’s been a lot of press reaction to our recent report on what happens when a new CEO takes over: ‘Here’s the deal: move fast as a new CEO’. The report was written by Cass Business School and the M&A Research Centre (MARC) (which I head). See also my blog entry ‘What comes next? Change...
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In QFinance, a very extensive on-line financial markets resource, I’ve written an article entitled ‘Due Diligence Requirements in Financial Transactions‘. Due diligence is a critical business intelligence process, and in our book on the use of business intelligence in doing M&A deals better (Intelligent M&A, Navigating the Mergers and Acquisitions Minefield), the chapter on...
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Of principal concern to a dealmaker — whether the board of the acquiring company or the CEO recommending the deal — is whether the share price of the company will rise on the announcement of the acquisition of a target company … and by how much. Of course the target company’s share price will...
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Thanks to Stefan Stern, the ‘On Management’ columnist in the Financial Times for his article on 18 May on our recent report on what happens when a new CEO takes over: ‘Here’s the deal: move fast as a new CEO’. That is, they do M&A deals. See my blog entry ‘What comes next? Change your...
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Many things happen when a company gets a new CEO. Cass Business School and the M&A Research Centre (MARC) (which I head) have just released a study showing that CEO’s embark on M&A deals very quickly after being appointed. In the study which looked at 276 CEO changes from 1997 to 2009 in the...
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In the past two weeks, I’ve received numerous calls asking to explain why the M&A market in Europe was so slow in April. Some of my comments have appeared in the Wall Street Journal and Financial News in articles entitled ‘Europe M&A Lags Behind World‘ and ‘European M&A set for worst month in a...
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Several months ago, Legg Mason strategist Michael Mauboussin published a report entitled ‘Surge in the Urge to Merge‘. Based on some academic research reported in 2008 in the Academy of Management Journal, companies that invested in deals early in a merger cycle are more likely to be successful with their takeovers than those who...
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Fascinating article — especially at this time of the year when the European football season is coming to an exciting close — about the M&A deals in involving European football clubs. Liam Vaughan has written an article in the Financial News about this: ‘Football deals reach fever pitch’ (I’ve provided the link to the...
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Well, we’ve got more than one quarter of the year gone. Is it really possible to see more clearly how 2010 will develop for the M&A markets? I think so, and one reason is the behavioural aspects of the market that cause it to be ‘sticky’, as discussed several weeks ago in an article...
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There’s a proposal in the UK to revise the rules governing public takeovers. This has been prompted by the takeover of Cadbury by Kraft, but has been bubbling under the surface for years and gains attention each time there’s a large, contested offer. The forthcoming election has given the proposals new life as well....
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