April-June 2008

Posted on June 6, 2008 at 10:04 AM
Filed under: 2008 | April-June 2008 | Cover Story | The Magazine | Trends
Tagged: Valuation

To the world at large, the price for a given acquisition often seems like the simplest part of the story. The number in the press release may be big, it may look high or low, but it's still a number, tidy and unambiguous. Company A is buying Company B...  Continue reading

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Posted on June 1, 2008 at 7:00 PM
Filed under: 2008 | April-June 2008 | Cover Story | The Magazine | Trends
Tagged: Emerging Markets , Valuation

Valuation work informs every stage of the transaction process. Before an acquisition, a company's deal team projects cash flows and quantifies synergies to negotiate a purchase price and guide due diligence. After the closing, the valuations of tangible and intangible assets and the assignment of enterprise values to business...  Continue reading

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Posted on June 1, 2008 at 6:00 PM
Filed under: 2008 | Acquisitions | April-June 2008 | Cover Story | The Magazine
Tagged: Fairness Opinions , Valuation

All's fair in love, war and, it turns out, the pricing of M&A deals. You can look up that last point in any one of the thousands of fairness opinions buried in public company proxy statements. In each transaction the adviser rendering the opinion was paid to confirm that...  Continue reading

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Posted on June 1, 2008 at 5:00 PM
Filed under: 2008 | April-June 2008 | The Magazine | Trends
Tagged: Oriental University City Development , Raffles Education

China is full of strivers. By high school, students already face intense pressure to excel. Some hope to land a spot in the handful of schools that make up China's Ivy League; others seek admission to colleges overseas or English training. The market for afterschool tutoring, English classes and...  Continue reading

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Posted on June 1, 2008 at 4:00 PM
Filed under: 2008 | April-June 2008 | Best Practices | The Magazine
Tagged: Del Monte , GE , Unilever

There's a bull market in divestitures these days. Major companies such as General Electric Co., Del Monte Foods Co. and Unilever Group have well-known business units on the block, and many lower-profile sales are in the works as well. Unfortunately, not all of these transactions will go as smoothly...  Continue reading

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Posted on June 1, 2008 at 3:00 PM
Filed under: 2008 | April-June 2008 | Intellectual property | The Magazine | Thinkery
Tagged: copyrights , inventory , trademarks

Thanks to the rise in business bankruptcies, there's a large amount of distressed intellectual property coming onto the market. Pending IP liquidation sales include the trademarks, copyrights, inventory and other assets of Death Row Records Inc., Sharper Image Corp., Electro-Chemical Technologies Ltd. and Isabella Fiore LLC. While these transactions...  Continue reading

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Posted on June 1, 2008 at 2:00 PM
Filed under: 2008 | April-June 2008 | Growth Strategy | People | The Magazine
Tagged: Bill Sipple , Carlson Hotels Worldwide

While other hotel operators are checking out of owned properties and moving toward less capital-intensive franchising, Carlson Hotels Worldwide is checking in. The Minnetonka, Minn.-based hotel operator for the first time is looking to own and manage properties in the top 25 U.S. markets. Specifically, Carlson wants to push...  Continue reading

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Posted on June 1, 2008 at 12:00 PM
Filed under: 2008 | Acquisitions | April-June 2008 | Movers & Shakers | People | The Magazine
Tagged: Expro International , Halliburton , Tim Probert

The dealmaking skills of Halliburton's Tim Probert were tested soon after he took over as executive vice president of strategy and corporate development. Just four months into the job, the oil-field services provider launched a bidding war with a private equity consortium led by Candover Partners Ltd. for Expro...  Continue reading

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Posted on June 1, 2008 at 11:00 AM
Filed under: 2008 | April-June 2008 | Corporate Tool | Joint Ventures and Alliances | The Magazine
Tagged: Clearwire , Comcast , Google , Intel , Josh King , JV , Sprint , Time Warner

Dealmaking lends itself to certain axioms: Talk less and listen more; beware of deal fever; cherish certainty of closing. To these I would add a personal favorite -- avoid joint ventures whenever possible. No one would argue with a straight face that a joint venture is the optimum business...  Continue reading

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Posted on June 1, 2008 at 10:00 AM
Filed under: 2008 | April-June 2008 | From Ken | The Magazine
Tagged: Corporate Dealmaker , editor's letter , Ken Klee

Hey, where are we? For those who see Corporate Dealmaker mainly in print, we are someplace new. Instead of arriving as the standalone magazine you've come to know, love and recommend to friends at every opportunity (you're with me on this, right?), this issue of our quarterly comes to...  Continue reading

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