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Cross-Border Mergers and Acquisitions

Book Description

Navigate cross border M&A for a flawless integration execution

Cross Border Mergers and Acquisitions is a practical toolbox for corporate strategy and development professionals dealing with the many challenges involved in cross border M&A. With a detailed discussion of key market specifics and broadly-applicable critical insight, this book demystifies the cross border M&A process and provides a host of practical tools that ease strategic implementation. A geographical overview explains the trends in major M&A markets including Australia, Brazil, China, Russia, the U.K., and the U.S., and industry-specific guidance covers Financial Services, Aerospace and Defense, Health Care, Tech, Manufacturing, and more. Leading experts relate lessons learned while managing actual PMI processes, and the discussion of cultural impacts and specific situational needs provides deep insight into the type of leadership a flawless integration requires.

Corporate restructuring and internationalization efforts are increasingly relying on cross border mergers and acquisitions. Strategies, motives, and consequences are a complex navigational minefield, but this insightful guide provides solid, actionable guidance for leading a successful integration.

  • Understand the region-specific details that make an impact
  • Overcome common challenges and manage complex deals
  • Gain practical insight and valuable tools for leading integration
  • Learn the most current best practices for PMI processes

Cross border M&A is complex, with myriad challenges and obstacles inherent to the situation. Successful integration and a smooth transition are critical, and there's little wiggle room—it's a situation where you have only one chance to get it right. Cross Border Mergers and Acquisitions is an essential guide to the process, with key tools for execution.

Table of Contents

  1. Preface
  2. About the Author
  3. About the Contributors
  4. PART One Cross-Border Strategy and Deal Planning
    1. CHAPTER 1 Cross-Border Deal Evolution and Rationale
      1. THE EVOLUTION OF M&A AND CROSS-BORDER DEALS
      2. STRATEGIC MOTIVES
      3. FACTORS INFLUENCING CROSS-BORDER DEALS
      4. CHAPTER CHECKLIST
      5. NOTES
    2. CHAPTER 2 Cross-Border M&A Strategy and Deal Planning Essentials
      1. M&A STRATEGY OVERVIEW
      2. COMPONENTS OF CROSS-BORDER M&A STRATEGY
      3. RESPONSIBILITIES AND ACCOUNTABILITY IN the ORGANIZATION
      4. TARGET COMPANY CRITERIA
      5. PREPARE AND PLAN FOR A CROSS-BORDER DEAL
      6. CHAPTER CHECKLIST
    3. CHAPTER 3 Legal, Financial, Social, and Political Interdependencies with Cross-Border Integration
      1. INTRODUCTION
      2. LEGAL IMPACT
      3. FINANCIAL IMPACT
      4. SOCIAL IMPACT
      5. POLITICAL IMPLICATIONS
      6. MANAGING EXTERNAL RISKS AND ISSUES
      7. CHAPTER CHECKLIST
      8. NOTES
    4. CHAPTER 4 Trends and Leading Practices in Global M&A
      1. GLOBAL TRANSACTION TRENDS IN THE POST–FINANCIAL CRISIS WORLD
      2. THE M&A LIFE CYCLE
      3. DEVELOPING A SUCCINCT CROSS-BORDER TRANSACTION STRATEGY
      4. MATCHING M&A STRATEGY WITH TRANSACTION REALITY
      5. SELECTING THE RIGHT CANDIDATE
      6. PLANNING CROSS-BORDER DUE DILIGENCE
      7. DEFINING SUCCESSFUL OPTIONS AND STRATEGIES FOR MITIGATING EXECUTION RISK IN CROSS-BORDER M&A TRANSACTIONS
      8. CHAPTER CHECKLIST
    5. CHAPTER 5 Cross-Border M&A: Region- and Country-Specific Trends and Deal Planning Tips
      1. INTRODUCTION
      2. SOME USEFUL CROSS-BORDER INSIGHTS AND TIPS
      3. UNDERSTANDING CORPORATE VERSUS COUNTRY CULTURES WHEN DOING CROSS-BORDER M&A DEALS
      4. CHAPTER CHECKLIST
  5. PART Two Cross-Border Culture and Leadership Alignment
    1. CHAPTER 6 Leading during Cross-Border M&A
      1. WHY LEADERSHIP IS SO CRITICAL DURING M&A
      2. LEADERSHIP RESPONSIBILITIES OF ACQUIRING COMPANIES
      3. LEADERSHIP RESPONSIBILITIES OF TARGET COMPANIES
      4. LEADERSHIP RESPONSIBILITIES OF THE INTEGRATION MANAGEMENT OFFICE
      5. SYMPTOMS OF A LEADERSHIP VOID AND HOW TO ADDRESS THEM
      6. LEADERSHIP LEADING PRACTICES
      7. CHAPTER CHECKLIST
    2. CHAPTER 7 The Role of Culture in Cross-Border M&A
      1. UNDERSTANDING CULTURAL MANAGEMENT
      2. CULTURAL AWARENESS
      3. STRATEGY AND CULTURE
      4. IMPLEMENTATION
      5. CHAPTER CHECKLIST
      6. BIBLIOGRAPHY
    3. CHAPTER 8 Managing National Reactions and Sovereignty Issues
      1. THE AMBIVALENT RELATION BETWEEN CROSS-BORDER M&A AND NATIONAL INTEREST
      2. INWARD CROSS-BORDER DEALS: KEY RESTRICTIONS
      3. INTERNATIONAL DIFFERENCES AND SIMILARITIES
      4. HOW TO DEAL WITH SENSITIVE CROSS-BORDER TRANSACTIONS
      5. CONCLUSION
      6. CHAPTER CHECKLIST
      7. NOTES
  6. PART Three Cross-Border Integration, Planning, and Execution
    1. CHAPTER 9 Managing Pre–PMI Due Diligence
      1. INTRODUCTION
      2. TRADITIONAL DUE DILIGENCE
      3. INTEGRATED DUE DILIGENCE—360-DEGREE DUE DILIGENCE
      4. CONDUCTING THE DUE DILIGENCE PROCESS
      5. CHAPTER CHECKLIST
      6. NOTES
    2. CHAPTER 10 Ramping Up an Integration Management Office and Day One in Cross-Border Deals
      1. THE IMPACT OF AN INTEGRATION MANAGEMENT OFFICE ON CROSS-BORDER INTEGRATION
      2. UNDERSTANDING THE INTEGRATION MANAGEMENT OFFICE
      3. ESTABLISHING AND EXECUTING THE INTEGRATION MANAGEMENT OFFICE
      4. DAY ONE: STARTING THE INTEGRATE AND ANALYZE PHASES
      5. CHAPTER CHECKLIST
      6. NOTES
    3. CHAPTER 11 Integration Decision Making and Process Strategy in Cross-Border Deals
      1. PREPARATION AND LOCALIZATION OF DECISION MAKING
      2. PRIMARY DECISION-MAKING TOOLS, APPROACHES, AND LEADING PRACTICES
      3. LEADING PRACTICES FOR GLOBAL INTEGRATION PROCESS CHANGE
      4. KAIZEN-BASED LEADING PRACTICES
      5. CATCHING THE WAVE OF CHANGE
      6. CHAPTER CHECKLIST
      7. NOTES
    4. CHAPTER 12 Post-Merger Integration Process, Methodologies, and Tools
      1. THE M&A LIFE CYCLE
      2. STRATEGIC SELECTION
      3. INTEGRATION DUE DILIGENCE
      4. PRE-SIGNING
      5. POST-SIGNING
      6. POST-CLOSING
      7. CHAPTER CHECKLIST
    5. CHAPTER 13 Managing Post-Merger Integration Globally
      1. INTRODUCTION
      2. DUE DILIGENCE
      3. RELATE
      4. ANALYZE
      5. INTEGRATE
      6. CHAPTER CHECKLIST
      7. NOTES
    6. CHAPTER 14 Country-Specific Trends and Tips for Integration Planning
      1. OPENING
      2. A CULTURAL OVERVIEW OF THE MOST ACTIVE M&A REGIONS
      3. ANGLO-SAXON REGIONS
      4. ASIAN COUNTRIES
      5. EUROPEAN COUNTRIES AND REGIONS
      6. SUMMARY
      7. CHAPTER CHECKLIST
      8. BIBLIOGRAPHY
    7. CHAPTER 15 M&A and Post-Merger Integration Considerations for China and Japan
      1. OVERVIEW OF M&A TRENDS IN CHINA
      2. ISSUES AND APPROACHES FOR INBOUND M&A IN CHINA
      3. ISSUES AND APPROACHES FOR OUTBOUND M&A FROM CHINA
      4. CHAPTER CHECKLIST FOR PART 1: CHINA
      5. OVERVIEW OF M&A AND POST-MERGER INTEGRATION IN JAPAN
      6. ISSUES AND APPROACHES FOR OUTBOUND M&A AND POST-MERGER INTEGRATION FROM JAPAN
      7. ISSUES AND APPROACHES FOR INBOUND M&A AND POST-MERGER INTEGRATION IN JAPAN
      8. CHAPTER CHECKLIST FOR PART 2: JAPAN
    8. CHAPTER 16 Cross-Border Synergy Program Management
      1. INTRODUCTION
      2. DEFINING AND VALIDATING SYNERGIES
      3. STRUCTURING SYNERGY PROGRAMS
      4. CRITICAL ACTIONS TO CAPTURE SYNERGIES
      5. POST-CLOSING DUE DILIGENCE
      6. CHAPTER CHECKLIST
  7. PART Four Unique Cross-Border M&A Transaction Scenarios
    1. CHAPTER 17 Managing Carve-Outs and Transition Service Agreements
      1. INTRODUCTION TO DIVESTITURES AND CARVE-OUTS
      2. THE CONTEXT OF DIVESTITURE IMPACTS CARVE-OUT PROCESSES
      3. DIVESTITURE PROGRAM OVERVIEW
      4. PLANNING A CARVE-OUT AND TRANSITION
      5. PROGRAM STRUCTURE
      6. MANAGING THE TRANSITION SERVICE AGREEMENT
      7. CHAPTER CHECKLIST
    2. CHAPTER 18 Joint Ventures
      1. THE JOINT VENTURE LIFE CYCLE
      2. CHAPTER CHECKLIST
  8. Index
  9. EULA