M&A Master Class Series - Part 2 Recap

Oct 20, 2011 - by Joel Lessem

Today, we once again enjoyed an enthusiastic and collaborative session with Andrew J. Sherman, author and Partner at Jones Day.  He took us through the Buy-Side perspective of M&A and focused on how to qualify your seller and uncover hidden value.

Building on his weather forecast in Part 1 of the series, Andrew alluded to the clouds parting for M&A in 2012.  Using a bullhorn he gave the call to action to Buyers, “Attention K-mart shoppers – deals to be had!”  Companies are sitting on $2.5 trillion and this value will be flowing back into the markets. Buyers need to be prepared to capitalize on the buyer’s market that currently exists but not to rush into acquisitions.  Vigilant due diligence is crucial.

M&A Master Class Series - Part 3 Recap

Nov 18, 2011 - by Joel Lessem

Today, we once again enjoyed our third collaborative Master Class with Andrew J. Sherman, author and Partner at Jones Day.  He led us through his due diligence best practices and pitfalls with a Buy-Side perspective of M&A.

Andrew likened the due diligence process in M&A to dating, "Some people like to disclose everything on a first date, most of us reveal information about ourselves on a phased basis as we get to know the other party. The due diligence process in M&A is more akin to that, as long as you're not witholding information that would change the nature of the transaction." Transparency and openness are keys to conducting successful due diligence. Sherman added that, "Those who are successful in due diligence leave their ego at the door."

M&A Master Class Series - Part 4 Recap

Dec 9, 2011 - by Joel Lessem

Today we enjoyed our fourth collaborative Master Class with Andrew J. Sherman, author and Partner at Jones Day. He led us through his best practices to ensure success in post-close integration with a Buy-Side perspective of M&A.

Andrew spoke to the challenges in post-close integration. Citing at KPMG survey, Sherman agreed that cultural and people issues present the biggest challenge during the post deal period. He also referenced specific data points related to post-deal integration, citing a Deloitte survey Sherman highlighted that although the desired outcome of integration may be to rapidly capture cost & revenue, synergies were not achieved in 70% of cases.

The news wasn't all bad though, Andrew provided tips, tricks and checklists for retaining key employees, overcoming cultural issues, establishing a transition team and more.