M&A Insights from David Braun and Other Experts

Latest Articles

Narrow Comprehensive LOI

Narrow vs. Comprehensive Letter of Intent

The Letter of Intent (LOI) is an important milestone on the M&A process and is used to crystallize the most important terms of the deal. While the LOI is an important legal document, it also brings a new level of commitment and resolve to the deal. The LOI can be “narrow” or “comprehensive.” Narrow LOI […]

When do you call off a deal

Due Diligence: When Do You Call Off the Deal?

Cultural due diligence is a critical task in the acquisition process. It exposes hidden problems and risks, but also may identify opportunities. However, if you do uncover red flags, you may need to reevaluate the deal. Sometimes you must simply call it off.  We have walked away from a transaction when due diligence revealed a […]

What will happen in M&A in 2016

What will happen in M&A in Q1 2016? Dealmakers Weigh In

As we near the end of the fourth quarter, everyone is wondering what will happen in 2016. Will the frenzied M&A activity of 2015 continue into the new year? There seem to be mixed reviews on what activity will look like next year. The Intralinks deal flow predictor indicates a 7% increase in global M&A […]

Your role as a leader in successful integration

Your Role as Leader in a Successful Integration

Effective leadership plays a critical role in integrating companies following an acquisition. Challenges abound, for instance when disagreements arise between the executive team and the rest of the staff. How do you bridge the gap? Communicate painful decisions? Maintain calm during a period of change? As the leader of an integration process, you should: Be […]

Contemporary Legal Issues in M&A Webinar John McDonald

The Legal Side of M&A: What You Need to Know

Legal aspects are a critical component of any M&A transaction. Two documents come to mind in particular, the letter of intent (LOI) and the acquisition agreement. The first signals a mutual interest by both parties to continue exploring the deal, and the second is the legally binding agreement that seals the deal. The LOI is […]

Expedia Buys HomeAway

Expedia Follows Demand for Alternate Lodging, Buys HomeAway

Expedia will buy HomeAway, a vacation rental site, for $3.9 billion. With this acquisition — its largest since buying Orbitz in 2014 for $1.3 billion — Expedia will compete more directly with Airbnb. Airbnb, through which people rent their homes to travelers, has become more popular in recent years, both with consumers looking for a […]

Walgreens Buys Rite Aid

The Middle Market Guide to Navigating Through the Wave of Healthcare M&A

The pharmaceutical and healthcare industry shows no sign of slowing down in terms of M&A and consolidation. There have already been $427 billion in transactions according to Dealogic data. Last week Pfizer and Allergan announced that they are currently in merger talks to form one of the largest pharmaceutical companies in the world. Certainly one […]

Are You Neglecting Company Culture Acquisitions

Are You Neglecting Company Culture in Acquisitions?

Culture can often be neglected simply because it is difficult to measure, especially when compared to hard facts such as number of employees or company revenue. After all, what constitutes a “good” culture? Definitions may vary from company to company and even among members of your own acquisition team. Despite this challenge, company culture should […]

5 Ways to Lose an Acquisition

5 Ways to Quickly Lose a Deal

It goes without saying that the introductory meeting is a crucial step of the acquisition process. If it goes well, your partnership could result in a successful deal. If it goes badly, you may be throwing away a great opportunity and have wasted hours of time and resources chasing the deal. Your goal for the […]

How to avoid culture clash in M&A

Make It or Break It: How You Can Avoid Culture Clashes in Mergers & Acquisitions

Culture clashes can make or break a deal. Just think about a few infamous deals that fell apart, such as the Time Warner-AOL merger in 2001. In Deals from Hell, Robert Bruner analyzes the reasons for failure in depth along, including examples of deals that failed due to cultural issues. In fact, cultural issues are […]

What Are Buyers Really Looking For

What Are Buyers Really Looking For in M&A?

What is the best way to position your company to be sold? I’ve often heard this question from owners and executives who aren’t quite ready to exit their business but who may be thinking about its future over the next five to 10 years. If you’re in this position, you’re wise to begin thinking about […]

M&A Update 3Q 2015

M&A Update: 3Q 2015 [Infographic]

M&A activity in the first 9 months of 2015 remained strong reaching $3.2 trillion globally. It was the strongest first 9-month period since 2007 for global mergers and acquisitions. The trend of large, mega deals continued in the third quarter of 2015.  Global deal value increased by 32% in the first 9 months of 2015 […]

Buyer vs seller deal structure agreement

Buyers vs. Sellers: Strategies for Agreeing on Deal Structure

If buyers want asset purchases and sellers want stock purchases how do the two ever come to an agreement? Leading Tax Attorney Alexander Lee of Paul Hastings, answered this question in our webinar “Tax Considerations for M&A.“ There are several factors that are important when the buyer and seller discuss deal structure. Specify Deal Structure in […]


Anheuser-Busch to Gain Access to Fast-Growing Markets through SABMiller Acquisition

SABMiller has agreed to Anheuser-Busch InBev’s $106 billion offer to acquire it. Together, they will form a global beer conglomerate with $64 billion in annual revenues that is estimated to make up 29% of global beer sales. The new company would be three times bigger than its next competitor, Heineken. Given that this is such […]

Nestle Forms JV with R&R Ice Cream

Nestle in Talks to Form JV with R&R Ice Cream

Sometimes, a business must first become smaller in order to grow. What I mean is that in order to focus on your strategic goals and respond to changes in demand and in the market, you may need to less of something. This includes stopping a specific product line, shedding customers, or even divesting of an entire […]

Tax Considerations in M&A

Tax Considerations in M&A Webinar with Leading Tax Attorney

Tax implications can significantly alter how you structure a deal and even the price of your acquisition, so it’s important to understand their effect. Join us for a webinar on Tax Considerations in Mergers & Acquisitions and uncover what you need to know about taxes in M&A and gain an understanding of tax issues. Join […]

Be Prepared

The Best Advice for M&A Success

In my over 20 years of pursing strategic, not-for-sale acquisitions for clients, the most important piece of advice I have is: be prepared. It may sound simple, but I cannot stress enough how critical preparation is to M&A success. This applies to every stage of the Roadmap to Acquisitions, our M&A process, from initial strategy […]

Valuation Discount Premium Multiples

What Leads to Premium or Discount When It Comes to Valuation Multiples?

As you might expect, sellers look for a premium multiple. Buyers typically will only consider paying a premium to market if they are adequately convinced that the value of the potential target justifies it. This begs the question: How does one derive a rationale for discount and premium multiples on a business? There are a […]

Keys to Minority Ownership

Keys to Successful Minority Investment

On yesterday’s M&A Express videocast, The Hidden Power of Minority Ownership, I mentioned Marcus Lemonis, a businessman who turns around struggling businesses in the CNBC show, the Profit. I’ve written about Lemonis before on the blog, and how he really prefers to use minority ownership so that the founders or original owners of the business continue to […]

Looking to Africa for Growth

Looking to Africa for Growth

What do you do when sales decline? If you’re Diageo, you move to Africa. Diageo, the maker of Smirnoff vodka and Johnnie Walker whisky, has been a global liquor powerhouse for years. However, the company’s growth has been slowing in its traditional markets of North America, Asia-Pacific, Latin America and the Caribbean. In other words, […]