Mergers & acquisitions for MBA

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Mergers & Acquisitions-Definitions ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Mergers & Acquisitions-Definitions ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Acquisitions ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Varieties of Mergers -1 ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Varieties of Mergers -2 ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Varieties of Mergers -3 ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Varieties of Mergers -4 ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M& A ? ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M & A ? ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Problems of M & A ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

10 Major Change Forces Contributing Merger activity ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Merger Motives at a Glance ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Peter Drucker’s Five Commandments for Successful Acquisition / Mergers ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Major Challenges to Merger Success ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

10 Secrets to Successful Mergers & Acquisition ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

10 Secrets to Successful Mergers & Acquisition ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Valuation - 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar Cash Flow (1+% Interest) raise to t t =1 t=n - Initial Capital

[object Object],[object Object],[object Object],[object Object]

Valuation -2 ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Valuation -3 ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Valuation - 4 ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

How good is M & A deal ? ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

How good is M & A deal ? ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Attributes of Effective Acquisitions ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

The Evaluation of an Acquisition Target 01.03.2011 Ulhas D Wadivkar

Strategic Planning for Merger Activities ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Sources of gains in M & As ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M & A fail ? - 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M & A fail ? - 2 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M & A fail ? - 3 ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Why M & A fail ? - 4 ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Summing up ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Summing up ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Merger waves : ,[object Object],01.03.2011 Ulhas D Wadivkar Period Name Facet 1889 -1904 1 st Wave Horizontal Mergers 1916 -1929 2 nd Wave Vertical Mergers 1965 - 1989 3 rd Wave Diversified Conglomerate Mergers 1992 - 1998 4 th Wave Congeneric Mergers, Hostile Takeovers, Corporate Raiding 2000 onwards 5 th Wave Cross Border Mergers

Major M&A from 2000 to present 01.03.2011 Ulhas D Wadivkar Rank Year Purchaser Purchased In Mil. - USD 1 2000 Fusion : America on Line : AOL Time Warner $1,64,747 2 2000 Glaxo Wellcome Plc. Smith Kline Beecham plc. $75,961 3 2004 Royal Dutch Petroleum Co. Shell Transport & Trading Co. $74,559 4 2006 AT & T Inc. Bell South Corporation $ 72,671 5 2001 Comcast Corporation AT & T Broadband & Internet $ 72,041 6 2004 Sanofi-Synthelabo SA Aventis SA $ 60,243 7 2002 Pfizer Inc. Pharmaica Corp. $ 59,515 8 2004 JP Morgan Chase Co Bank One Corp. $ 58,761 9 2009 Pfizer Inc. Wyeth $ 68,000

Defence against Takeovers - 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Defence against Takeovers - 2 ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Defence against Takeovers - 3 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Financial Defensive Measures - 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Defensive Measures – Steps to be taken- Contd: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment & Leverage -1 ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment & Leverage -2 ,[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment & Leverage - 3 ,[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment & Leverage - 5 ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Methods of Payment & Leverage - 7 ,[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 1 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 2 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 3 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 4 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 5 ,[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 6 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

M & A – Regulatory Control - 7 ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Implications under Income Tax Act, 1961: ,[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],[object Object],01.03.2011 Ulhas D Wadivkar

Mergers & acquisitions for MBA

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