Nov.-Dec. 2007

Posted on December 15, 2007 at 5:00 PM
Filed under: 2007 | Acquisitions | CD Community | Cover Story | Deal International | Joint Ventures and Alliances | Nov.-Dec. 2007 | People | The Magazine | Trends
Tagged: Anne Madden , CD Forum , conference , deal activity , dealmakers , Honeywell , M&A , MAC clause , people , private equity , strategics

The word from our big October conference is that the credit crunch now sidelining PE does indeed create opportunities for corporate buyers. Still, there's no turning back the clock on the changes of the last few years.  Continue reading

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Posted on December 15, 2007 at 4:08 PM
Filed under: 2007 | Best Practices | Nov.-Dec. 2007 | The Magazine | Trends
Tagged: acquirer , analysis , buy side , buyers , cross-border , dealmakers , deals , diligence , due diligence , integration , sell side , strategics , tactics

Dealmakers have learned to examine their targets with a thoroughness and an attention to what makes deals work that was rarely seen a decade ago.  Continue reading

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Posted on December 15, 2007 at 3:15 PM
Filed under: 2007 | Best Practices | Intellectual property | Nov.-Dec. 2007 | The Magazine
Tagged: competitive intellectual property , corporate dealmakers , due diligence , intellectual property , patents , private equity , strategic , strategic IP , SWOT

Sure, the target has good patents. But does it have the right ones? Do they support its business model? And what kind of firepower do its competitors have?  Continue reading

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Posted on December 15, 2007 at 2:04 PM
Filed under: 2007 | CD Community | Corporate Tool | Nov.-Dec. 2007 | The Magazine
Tagged: agreements , contracts , corporate tool , due diligence , financial models , Josh King , M&A , negotiating

A change in jobs, and more so in industries, tends to provoke a questionfor those in corporate development: Are my skills transferable?  Continue reading

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Posted on December 15, 2007 at 1:56 PM
Filed under: 2007 | Best Practices | Nov.-Dec. 2007 | Q&A | The Magazine | Thinkery
Tagged: Alden Taylor , consulting , due diligence , Fortune 500 , IP , Pamela Volkman , Q&A , Strategic Insights

There's due diligence, and then there's intelligence gathering. The consultants at Strategic Insights tell why some deals - especially in less-developed markets - require both.  Continue reading

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Posted on December 15, 2007 at 1:50 PM
Filed under: 2007 | Law | Nov.-Dec. 2007 | The Magazine | Thinkery
Tagged: accreted value , cash-settled convertibles , conversion spread , convertible debt , FASB , FSP , regulation

Coming soon: A radical change in accounting rules for these popular hybrid securities.  Continue reading

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Posted on December 15, 2007 at 1:43 PM
Filed under: 2007 | Legal Brief | Nov.-Dec. 2007 | The Magazine
Tagged: breakup fee , credit crunch , Delaware , go-shop clause , grandfather provisions , legal brief , M&A , no-shop , pre-signing , Revlon , window-shop

Go-shop clauses are on the rise, but they should be used with caution and, at times, even resisted.  Continue reading

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Posted on December 15, 2007 at 1:37 PM
Filed under: 2007 | Nov.-Dec. 2007 | Outsourcing | The Magazine | Thinkery
Tagged: deals , divestitures , due diligence , exit strategy , HR , IT , outsourcing , RFP , seller , transaction service agreements , transition , TSA

Nearly all deals require a transition services agreement. Looking to a qualified third party for those services can often be an effective tactic.  Continue reading

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Posted on December 15, 2007 at 1:29 PM
Filed under: 2007 | Deal International | Law | Nov.-Dec. 2007 | The Magazine | Trends
Tagged: biotech , China , clinical trials , collaboration , CRO , Eli Lilly , Guoxin Zhu , Hutchison , life-sciences , R&D , regulation , Samantha Du

A groundbreaking development deal between Eli Lilly and Hutchison MediPharma highlights the growing sophistication of China's pharma market.  Continue reading

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Posted on December 15, 2007 at 1:22 PM
Filed under: 2007 | Acquisitions | Law | Nov.-Dec. 2007 | The Magazine | Trends
Tagged: activists , down market , economy , Richard Breeden , SEC , trends

A down market should offer shareholder activists plenty of opportunity for attractive returns.  Continue reading

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Posted on December 15, 2007 at 12:33 PM
Filed under: 2007 | Best Practices | Nov.-Dec. 2007 | The Magazine
Tagged: best practices , corporate development , deals , M&A , PMI , sourcing , venture

A common-sense approach to the vital task of finding more and better acquisition targets.  Continue reading

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Posted on December 15, 2007 at 12:22 PM
Filed under: 2007 | Acquisitions | Corporate Strategy | Nov.-Dec. 2007 | The Magazine
Tagged: Air France , airlines , AirTran , Boeing , buyout , consolidation , Hoeksema , hostile , Joe Leonard , KLM , mergers , Midwest Air , Northwest Airlines , private equity , TPG

Midwest Air Group CEO Timothy E. Hoeksema deflected aggressor AirTran at every turn, instead accepting a bid from buyout firm TPG and Northwest Airlines. In the end, though, his company may still find itself owned by another airline.  Continue reading

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Posted on December 15, 2007 at 10:47 AM
Filed under: 2007 | Acquisitions | Corporate Strategy | Nov.-Dec. 2007 | Q&A | The Magazine | Trends
Tagged: biofuel , Capitaline , CHS , corn , deal , earnings , energy , ethanol , Gordon Ommen , integration , margins , Millennium Ethanol , Q&A , trends , US Bioenergy

Corn-based ethanol fuels arguments as well as cars. As Congress considers legislation to extend subsidies, opponents are mobilizing. Oil companies say market demand should drive growth, the livestock and poultry lobby complains about soaring feed prices, and environmental groups fear possible soil and water degradation. Wall Street has turned...  Continue reading

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Posted on December 15, 2007 at 10:39 AM
Filed under: 2007 | Corporate Venture Capital | Nov.-Dec. 2007 | The Magazine
Tagged: biofuels , biotech , CellFour , corporate venture capital , crop yeilds , crops , disease , Dow AgroSciences , DuPont , engineering , food , funding , Medel , Monsanto , partner , Targeted Growth , textile , Thomas Todaro , timber

In the past, plant biotechnologists concentrated on crops used primarily for animal feed. Lately, though, the genetic engineers have turned to creating crops for biofuels. Startups in the field have worked largely on behalf of agricultural chemical giants. Monsanto Co., Dow AgroSciences LLC, the DuPont Agriculture & Nutrition division of...  Continue reading

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Posted on December 15, 2007 at 10:33 AM
Filed under: 2007 | Growth Strategy | Nov.-Dec. 2007 | The Magazine
Tagged: acquisition , Adidas , deal , Mike Ashley , Nike , restructure , soccer , Umbro

Nike could pressure Adidas in Europe as it puts its marketing muscle and financial resources behind the Umbro brand.  Continue reading

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Posted on December 15, 2007 at 10:25 AM
Filed under: 2007 | Acquisitions | Nov.-Dec. 2007 | People | The Magazine
Tagged: acquisition , architecture , Cambridge , construction , Cornell , Hillier , Hillier Architecture , RMJM

Corporate Dealmaker takes a look at a cross-border combination of firms that depended on chemistry as much as engineering.  Continue reading

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Posted on December 15, 2007 at 10:20 AM
Filed under: 2007 | From Ken | Nov.-Dec. 2007
Tagged: corporate dealmaker , editor , editor's letter , Klee

If you didn't have an optimistic streak, you'd never even get started as a corporate dealmaker.  Continue reading

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