Mergers, Acquisitions and Corporate Restructuring

This book covers the entire spectrum of activities in a typical merger transaction—starting from searching for candidates to closing the deal. It is designed to be a rigorous yet relevant book on mergers, acquisitions and corporate restructuring for students, research scholars and practitioners of finance.

The key features of the book include:

- Rationale for diversification via acquisition, searching for acquisitions, valuation of publicly and privately held companies, design of consideration in acquisitions, cross-border acquisitions and empirical evidence on mergers.
- Various forms of corporate restructuring like spin-offs, carve outs, targeted stocks, reorganization of debt contracts, lay offs and downsizing are covered.
- There is also a summary of the research conducted in this subject over the last 20 years.

Table of Contents:
Preface Diversification via Acquisition - K.Sankaran and Vishwanath S. R Searching for Acquisitions - Vishwanath S.R and K.Sankaran Value Drivers and Target Valuation - Vishwanath S.R and Chandrashekar Krishnamurti Valuation of Privately-held Companies - Pitabas Mohanty Real Options Analysis in Mergers and Acquisitions - Chandrashekar Krishnamurti and Vishwanath S.R Design of Consideration in Acquisitions: Cash and Stock Offers - Vishwanath S.R and Chandrashekar Krishnamurti Accounting and Tax Factors in Mergers and Acquisitions - Kenneth R. Ferris and Philip Drake Cross-Border Acquisitions - Chandrashekar Krishnamurti and Vishwanth S.R The Empirical Evidence on Mergers - P Raghavendra Rau Takeover Defenses - Sharon Hannes Spin-offs, Equity Carve-outs and Targeted Stocks - Vishwanath S.R and Chandrashekar Krishnamurti Bankruptcy and Reorganization - Vishwanath S.R and Chandrashekar Krishnamurti Employee Share Ownership Plans - Corey Rosen Index

About the Author :
Chandrasekhar Krishnamurti is a Professor of Finance at the School of Commerce, University of Southern Queensland, Australia. He has held teaching positions at the National University of Singapore, Nanyang Business School (Singapore), Monash University, Auckland University of Technology, and the Indian Institute of Science (Bengaluru). He has a PhD in finance from the University of Iowa, USA. He has published in major international journals such as Financial Management, Journal of Banking and Finance, Journal of Corporate Finance, and Journal of Financial Research. The areas of his research interest are market microstructure, corporate governance, emerging markets, international finance, and carbon finance. Vishwanath S. R. is a Professor of Finance, MBA Programme Chair and Faculty Director of Executive Education in the School of Management and Entrepreneurship at Shiv Nadar University. He is the author of two volumes of 80 case studies published by McGraw Hill (India) and four books published by Springer Verlag, SAGE and PHI Learning (formerly Prentice Hall of India), and several cases published by the Asian Case Research Journal, The CASE Journal and Harvard Business Publishing.  He has held academic appointments at the S. P. Jain Institute of Management in Mumbai, Emirates Institute for Banking and Financial Studies in Sharjah, T. A. Pai Management Institute in Manipal, Bharathidasan Institute of Management in Trichy, Tata Management Training Centre in Pune and Institute of Management Technology in Nagpur. He has two decades of experience in teaching graduate students and executives from a variety of industries.  Vishwanath S. R. was the Regional Editor of Emerald Emerging Markets Case Studies, UK, during 2012–2014. He received the Ruth Greene Memorial Award, the Best Workshop Case Award and Jonathan Welch Case Award from North American Case Research Association (NACRA) in 2010, 2012 and 2014, respectively. He was nominated for the CMA of Alberta Governance Award at NACRA in 2013 and Excellence in Case Writing Award in 2014 by the Case Association of the United States. He received the Hindustan Unilever Dewang Mehta Best Professor in Finance award in 2013.  His research papers examine the role of certification and anchor investors in initial public offerings (IPOs), performance of family firms, valuation effects of changes in dividend taxes, IPO price stabilization through call auctions, the impact of stock market reforms on capital allocation to IPO firms and economic growth, risk-taking in family firms, the value of executive directors, the impact of ownership of IPOs on liquidity and stock returns and offshore dollar-denominated convertibles issued by Indian firms. He has presented his research at major global conferences such as American Economic Association/ASSA meetings, Journal of Corporate Finance Special Emerging Markets Conference, Asian Finance Association meetings, EFMA meetings, Financial Markets and Corporate Governance Conference and North American Case Research Association meetings. He has been enlisted in the Marquis Who’s Who in the World and Madison’s Who’s Who among executives and professionals throughout the world. 

Review :
Tracking all processes of a typical merger transaction, from identifying the most appropriate candidates to negotiating and closing the deal, the book is like a Bible for those wanting to establish a working understanding of mergers, acquisitions and corporate restructuring. This book focuses on the purchase and sale of equity and the design of consideration in mergers and acquisitions. It comprises modules on important topics like valuations, real option analyses of M&As, accounting and taxation related issues in M&As, cross-border acquisitions, takeover defenses and other forms of corporate restructuring among others….It can be of great use as a part of the reading material for students pursuing MBA, CFA, CA, ICWA and similar other programs as also those seeking careers in consultancy related to strategy, investment banking and turn around management. It can also be used in executive programs covering various aspects of corporate restructuring.