In the current highly uncertain economic environment, corporate decision making is increasingly difficult. Strategic questions abound.
Should excess cash flows be reinvested in the firm or distributed to shareholders? Does restructuring through a combination of divestitures and spin-offs make sense? Should firms continue to “buy” growth through M&As and run the risk of overpaying, making achieving required shareholder returns more challenging?
Should corporate executives stay with what they know or diversify? Should firms downsize their operations to better focus on markets in which their core competencies give them a competitive advantage? These are important questions with no easy answers, that accountants are roped into answering every single day.
While this webinar, and the series of webinars to follow, does not promise quick answers to these demanding questions, it does offer insight into all aspects of the corporate restructuring process from takeovers and joint ventures to divestitures and spin-offs and equity carve-outs and reorganizing businesses.
This webinar discusses the context in which mergers, acquisitions, and corporate restructuring occur, including factors often beyond the control of the participants in the M&A process.
We provide an overview of M&As basic vocabulary, the most common reasons why M&As happen, and how such transactions occur in a series of somewhat predictable waves. Alternatives to M&As and participants in the M&A process, from investment bankers to lenders to regulatory authorities, are discussed in detail. The webinar also addresses whether M&As benefit shareholders, bondholders, and society, with conclusions based on recent empirical studies.