Art of M&A: Financing and Refinancing

Rating:
Summary: Expert guide, makes a complex subject understandable
Review: Almost a third of companies with sales between $75 and $500 million expect to be involved in a merger or acquisition in the near future. Defaults in the junk-bond market are expected to top 4.5% of outstanding issues in 1999, compared with 3.4% in 1998. Surging defaults in a strong economy point to the need for a comprehensive book on how to use "other people's money," while making something for ourselves in the process.

The Art of M&A Financing and Refinancing uses a reader friendly question and answer format to easily explain lofty global concepts such as currency exchange rates and fluctuations that can affect your M&A financing, as well as the gritty details of how to calculate the cost of your proposed debt. Want to know where to obtain financing online or the tax consequences of postacquisition debt? What are the going percentages on various types of collateral? What covenants do junk bonds normally contain? What are the advantages of a private equity placement? Here you will find the answers from two well known experts in the field. While only half of all corporate mergers live up to their promise, your chances of success will greatly improve by utilizing the information contained in this comprehensive handbook.

Highly recommended by the editor of CorpGov.Net

Rating:
Summary: Poor format hides content.
Review: The entire book is a set of questions and answers, so while it may be useful for certain specific reference areas, it lacks in executive detail and depth- and is not readable cover to cover. As a third text on the topic, it is useful. Not to be too negative, there is a lot of good information tucked away in here.