Why Deals Fail by Faelten, Anna -- Read -- Imperial Library of Trantor

Index

Copyright Page Dedication Contents List of figures and tables Preface Introduction: The three big mistakes of dealmaking Part 1: Pre-Deal

1: Think before you buy

What’s your Facebook relationship status? Staying single It’s complicated Open relationship Divorced In a relationship Think before you buy: dos and don’ts

2: Avoid tunnel vision

Deal strategy Target selection Diageo says saúde to Ypióca ABN AMRO: it’s hard to see what’s in it Patience is the watchword: Diageo says şerefe to Mey İçki Has the bloom gone at Diageo? Avoid tunnel vision: dos and don’ts

3: Knowledge is power

Where is diligence most due? Due diligence in cross-border M&A How long should due diligence take? A. G. Barr’s Irn Bru and Britvic’s Indian Tonic Water taste very different, don’t they? Successful due diligence has solid foundations Getting it right the Cheung Kong Way Knowledge is power: dos and don’ts

4: Why the price isn’t always right

Valuation versus pricing Overpaying isn’t the end of the world Pricing in risk Valuing intangibles IP due diligence Deals leak How to pay Why the price isn’t always right: dos and don’ts

Part 2: The Deal

5: Negotiating tactics

Friend or foe? Auctions: does the highest bidder always win? Hard or soft? “Bid ’em up” Bruce A football master class Microsoft’s search engine bid Keep your friends close and your enemies closer Opening gambits: your place or mine? Trade relations Fast or slow? The Baxalta bear hug Still leaking? Negotiating tactics: dos and don’ts

6: The engagement

Spinning tales Institutional investors: a CEO’s best allies? Rise of the activists Prudential’s imprudence The engagement: dos and don’ts

7: Beware the regulator

The “Danone law” Kraft’s takeover of Cadbury hits a sour note Deutsche Börse: you can’t always rely on the Germans DP World: stuck in port Beware the regulator: dos and don’ts

Part 3: Post-Deal

8: Doing the deal right

Phase 1: Giving diligence its due

Off the rails: stopping runaway trains Holding hands across the Atlantic Other obstacles on the tracks Hitting the political sidings

Phase 2: Day 1 of the 100-day plan

Getting it right: the Centrica way Getting it wrong: the Zain way

Doing the deal right: dos and don’ts

9: A most amicable divorce

Why split up? HP: the 15-year road to divorce The spin-off dumping ground Getting divestment decisions right Mergermarket Group: from start-up to global player The investor’s view A most amicable divorce: dos and don’ts

Conclusion: Hunting the corporate yeti Acknowledgements Further reading Index