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January 23, 2012

Past issues

July 16, 2012

The Deal magazine looks at the biotech sector and how new, creative funding deals are promising to rejuvenate the search for new drugs. Plus, this issue looks at LIBOR's new landscape. Meanwhile, we have an indepth conversation with CD&R's Joseph Rice.

June 18, 2012

What goes up must come down, and so it would appear as The Deal magazine examines big-league bankruptcy. The theory holds for Tribune as it's new owners weigh its assets. But what about W.R. Grace, as it emerges from bankruptcy having made 22 acquisitions under protection? Plus, the corporate dealmaker 100.

May 28, 2012

The Deal magazine takes an indepth look at the strategic dealmaking of the packaging industry in the middle market. We also hit the road looking at the startup landscape in the drug development and medical devices sectors in Kalamazoo, Michigan as well as the burgeoning companies in the solar power, pharmaceutical, brewery and pesticide industries in Bend, Oregon.

May 7, 2012

Wanna do M&A? Careful, because here comes the shareholder litigation. When it comes to tech acquisitions, they're getting done -- just too bad companies aren't very good at it. And sovereign wealth funds are back, growing fast.

April 16, 2012

No one said private equity would be easy, and our annual Private Equity Deals of the Year proves it again with a roundup of 2011's big winners and losers. Also, The Deal magazine takes a look at cowboy capitalism with a trip to Dallas-Fort Worth. Finally, take a look at our sampling of middle-market companies on the auction block.

April 2, 2012

The Deal magazine travels to Japan to witness the island nation rise again amidst an active streak of dealmaking. Plus, a duet of music-related articles look at the antitrust snares of Universal Music's purchase of EMI assets and the effect that the emergence of digital music is having on copyright laws.

March 12, 2012

In this issue, The Deal magazine hits the bankruptcy trifecta: the take-no-prisoners battle for Alter Communications; the rise and fall of real estate moguls, the Meruelo brothers; and the bankruptcy league tables. Also, take a look at how Humana has set a new course along the acquisition trail.

February 20, 2012

The Deal magazine focuses on the middle market by looking at some of its top dealmakers and then gives an overview of what's out there on the auction block. The issue also features an in-depth look at private equity in France and in emerging markets around the world.

February 6, 2012

The Deal magazine gets in the pilot seat to take a look at American Airlines' bankruptcy, then wonders what will now happen to a beleaguered Reader's Digest. Also, Herb Fritch of HealthSpring may have an answer to the sky-high inflation of the healthcare industry.

January 23, 2011

What a topsy-turvy, rumbly-tumbly year 2011 turned out to be -- and The Deal magazine takes a look at the M&A Deals of the Year in uncertain times. Also, Edgar Bronfman Jr. sits down for his first interview since selling Warner Music.

December 12, 2011

Just when you thought it was safe to go back in the water, suddenly it was 2011 -- and The Deal magazine looks back at all the twists and turns of dealmaking. Also in this issue, dealmakers pay back as social entrepreneurs.

November 28, 2011

'What worrying wall of debt?' The Deal magazine asks. Oh, right, there it is. Plus, the Windy City offers up its own particular brand of private equity, while, farther afield, Big Oil makes a play in Kurdistan.

November 14, 2011

The Deal magazine tracks down the in-house corporate dealmakers from the top American companies and takes a voyage around the world to explore the valleys and peaks of the travel industry.

October 31, 2011

The Deal magazine goes back to school and offers a full report on the business of education.

October 17, 2011

The Deal magazine goes looking for trolls and geeks, and the middle market shows its ups and downs in a trying economy.

October 3, 2011

Who are the private equity movers and shakers to keep an eye on, and how does Ralph de la Torre look to transform managed care?

September 19, 2011

The Deal magazine honors this year's Most Admired Corporate Dealmakers and takes a close look at the ups and downs of Wall Street compensation.

September 5, 2011

The interview issue asks all the pertinent questions to six experts in their respective fields, while the market for multiple sclerosis therapies provides an evocative case study on dealmaking.

July 25, 2011

The Deal magazine gets up close and personal with faces of the middle market and charts the new hits of the music business as it shifts away from label dominance.

June 27, 2011

Despite trying financial times, the spotlight shines on the private equity deals of the year that were deftly executed and held to the principle of creating value.

Climan on patent-driven M&A

'Traditional valuation metrics ... simply are inapplicable in patent-driven deals,' Dewey & LeBoeuf's Richard Climan said at the 39th Annual Securities Regulation Institute in San Diego.

Richard Morgan on the Warner Music auction

Warner's decision to sell itself before EMI looks very shrewd in retrospect after the industry shrank from four key players to three.

Dealmakers

Movers and shakers: Q&A with Edgar Bronfman Jr.

The former Seagram scion and Warner Music chairman reviews his considerable deal history in the first interview since selling the label.

Movers and shakers: Pay packages slim down in Asia

For the past couple of years, bankers working in China and Southeast Asia could make 10% to 15% more than their U.S. counterparts. Not anymore.

Movers and shakers: Remembering Warren Hellman

The private equity pioneer had a wide range of interests that he pursued with discipline, enthusiasm and a generous spirit.

McKinsey on M&A: Bite sized

McKinsey's Werner Rehm, Robert Uhlaner and Andy West take on the notion that bigger is better when it comes to dealmaking.

Scott Thompson: Whither Yahoo!?

Now it's up to Scott Thompson to get the struggling Internet company to stop treading water and learn to swim.

NYSE-Deutsche Börse? The City might shrug

The City won't necessarily be any worse off if the NYSE-Deutsche Börse deal wins approval than if it's rejected.

Deal diary: Jan. 23, 2012

Tokio Marine reunites its U.S. insurance deal team, and Gilead replaces Dewey with Skadden.

Pen & Inc.: Mitt Romney

The former Bain Capital chairman has been forced to defend not only his own record on jobs as a successful PE investor, but, by extensions, the merits of modern finance.

Features

M&A Deals of the Year: Introduction

Let's face it: 2011 was a tough, up-and-down year. Our selections reflect the considerable skills required to bring deals to life in such uncertain times.

M&A Deals of the Year: Apple and partners-Nortel

The bankrupt telecom equipment manufacturer held out for a much higher price on information property crucial to the smartphone market.

M&A Deals of the Year: Google-Motorola Mobility

The search giant's purchase of the cellphone maker puts it squarely where it needs to be: at the thumbstrokes of billions of people on the move.

M&A Deals of the Year: Access Industries-Warner Music

By positioning itself as first mover, WMG pushed back a competing EMI auction by ever-eager Citi until June.

M&A Deals of the Year: Cumulus Media-Citadel

The country's No. 3 radio broadcaster pulled off the nifty trick of bagging two acquisitions, including rival Citadel, and lowering its debt-to-Ebitda.

M&A Deals of the Year: Comcast-NBC Universal

The deal came with an extensive list of behavioral conditions that raised the bar for how the government will deal with vertical mergers.

M&A Deals of the Year: H&R Block-TaxAct

Justice won the antitrust trial and in the process bolstered the government's revamp of merger guidelines.

M&A Deals of the Year: Caterpillar-Bucyrus

The acquisition transformed a 100-year-old rivalry between Bucyrus and Joy virtually overnight.

M&A Deals of the Year: Ares and CPPIB-99 Cents Only Stores

The family behind the discount retailer learned a few lessons from an earlier retail buyout: J.Crew.

M&A Deals of the Year: Grupo Bimbo-Sara Lee baking assets

The consumer products conglomerate thought it had a straightforward sale of bakery assets to Grupo Bimbo. Then came some new merger guidelines.

M&A Deals of the Year: BHP Billiton-Petrohawk

The mining giant finally got the big oil and natural gas deal it wanted, but it took a rich premium to get the target.

M&A Deals of the Year: Peabody Energy-Macarthur Coal

Cunning triumphed over Chinese financial muscle in the battle to secure coal reserves, but the bet is highly leveraged.

M&A Deals of the Year: Selling off Bank of America

The megabank successfully divested more than $30 billion in assets last year at a time when big deals were scarce.

M&A Deals of the Year: Dish Network-Blockbuster

Charlie Ergen swept in to grab Blockbuster out of bankruptcy. It was a dramatic move, but just part of a very busy year for him.

M&A Deals of the Year: Amgen-BioVex

The pharma strikes a solid deal for what could be a revolutionary cancer drug.

M&A Deals of the Year: KKR et al.-Samson Investment

The private equity firm led a group that acquired the big Tulsa oil and gas explorer and producer in a tough market.

M&A Deals of the Year: Pearson-Connections Education

With the virtual education company, PE firm Apollo persevered in a controversial sector and was handsomely rewarded.

M&A Deals of the Year: Alleghany-Transatlantic

A proposed merger between two insurers kicks off what may be the most frenzied takeover struggle of the year. After many twists and turns, Alleghany walked off with the prize.

M&A Deals of the Year: Breaking up Dexia

Belgium, France and Luxembourg rescued the first — but likely not the last — euro-zone lender to succumb to the Continent's sovereign-debt crisis.

Commentary

Transactions: Jan. 23, 2012

The Procrustean bed and the clash between science and the humanities.

Romney's Bain

With private equity suddenly on trial in the GOP primaries, the media struggled to understand the business. The result: Loony Tunes.

What's compelling about Compellent?

In Dell's acquisition, Chancery didn't rule on the legality of various deal protections, but the case is sure to influence how they are negotiated.

Mitt Romney and targeting PE

The Republican presidential candidate's private equity past provides plenty of grist for press and pols.

Euro sensitive

Last year was a roller coaster ride in the leveraged loan market. For 2012, the situation remains the same. The reason: Europe.

The SEC and cybersecurity

New regulations will have a significant impact on both corporate disclosures and deal practice.

The board's role in assessing operational deal risk

Before approving a letter of intent, boards should insist on a compressive analysis of operational deal risk.