What factors contribute to a successful merger before—and after—the integration?
It should come as no surprise that a company with a clear purpose for doing each deal and an actively managed M&A process will greatly increase its chance of completing the right deal and avoiding the wrong one, all the while building sustainable value and minimizing risk. Under Sarbanes-Oxley, there are new challenges to be weighed with each potential M&A transaction. We invite you to learn from our experience in the following collection of articles and reports.
Insurance mergers and acquisitions - July 2007
A discussion of insurance tax problems inherent in reorganizations, reinsurance transactions, spin-offs, dispositions, public offerings, and capital issues, such as demutualizations, and the formation of mutual holding companies
Tax M&A news - July 2007
PricewaterhouseCoopers mergers & acquisitions group's newsletter on mergers and acquisitions taxation.
New voices in M&A: The evolving role of finance and accounting professionals - June 2007
Instead of relying solely on resources from the corporate finance staff for help with acquisitions, companies are setting up teams of finance specialists who are entirely or largely dedicated to M&A.
Deal Flash!: Why financial reporting valuation matters on private equity deals - April 2007
Because private equity investors do not always incorporate pure GAAP financial metrics in valuing a target upon acquisition or exit, financial statement presentation may not be one of their top priorities. But those who have sustained a surprise hit to earnings or EBITDA, or had a closing or exit delayed because of financial reporting issues may think differently.
Chemical compounds: Mergers and acquisitions activity in the global chemicals industry, 2003-2005 - August, 2006
The chemicals industry has witnessed massive structural changes over the past decade. Mounting competition from new producers in emerging markets and resource-rich regions, rising oil prices and greater regulation have made life much harder for the traditional industry players. This publication sheds light on the main trends in the chemical industry, together with their impact on mergers and acquisitions, between January 2003 and December 2005. In view of the considerable interest displayed by private equity firms and the nature of their business model as temporary investors, this study has devoted a special section to financial investors. The study also draws on PricewaterhouseCoopers' global experience as advisers on numerous major deals to provide a series of deal dialogues throughout the report, highlighting some of the critical issues for chemicals companies engaging in mergers and acquisitions.
Technology executive connections: Shaping digital convergence through mergers & acquisitions, Vol. 2 - June, 2006
Shaping digital convergence through M&A is the second in our
Technology executive connections series and explores how Technology sector executives use M&A, partnerships, and alliances to achieve their convergence-driven goals. This 62-page PricewaterhouseCoopers report involves a series of surveys of senior leaders running technology companies worldwide to explore, understand and share ideas on the most pressing current business and strategic issues. There’s no doubt that convergence is causing great change partnerships, alliances, and M&A deals are all on the rise. But is convergence really the driver? In order to shed some light on this question, PricewaterhouseCoopers and the Economist Intelligence Unit asked 149 executives across the world what they thought about this and other related questions.
Forging ahead: Mergers and acquisitions activity in the global metals industry, 2005 (second edition) - May, 2006
The Metals industry experienced overall record deal volumes in 2005, although total value of deals was down. This second edition of
Forging ahead covers M&A activity in the global metals industry during 2005. As in previous years, the steel sector led the way, with 165 deals collectively worth almost $27.4 billion and steadily increasing acquisition multiples. The report also drills down to discuss deals by region (North America, Western Europe, Central & Eastern Europe, Asia-Pacific and Central & South America). In 2005 deal activity increased markedly in the emerging markets. Companies based in Central and Eastern Europe, Asia Pacific and Latin America jointly accounted for $17.7 billion or 51 percent of the total value of industry transactions worldwide, up from 32 percent the previous year.
Mergers and acquisitions: A global tax guide - April, 2006
As the world economy continues to respond to increasing globalization, the problems that individual businesses have been forced to deal with have grown in number and complexity. Virtually every one of those problems shares a common element: in a truly global economy, businesses that are unable to operate effectively in a multinational environment will not achieve the economies of scale they need in order to remain competitive.
PricewaterhouseCoopers' 2006 M&A insights: US entertainment & media industry - April, 2006
Experience has taught us that companies with a clear purpose for doing each deal and an actively-managed M&A process greatly increase their chances of doing the right deals and avoiding the wrong ones, building sustainable value while minimizing risk. Our services help companies improve the way they do deals-whether buying a company, selling a business or raising capital-so that one successful deal leads to and funds the next one.
People, corporate culture and communications: The human side of M&A - March 2006
At first glance, the most difficult job is combining the two entities’ technology or financial controls and reporting procedures. Surprisingly, the activity that gives companies the most trouble is the integration of different cultures, leadership teams and workforces—the people aspect of M&A.
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