Preparing for Strategy& M&A role

M&A strategy&
Edited on Dec 05, 2019
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Anonymous A asked on Dec 05, 2019

Hi guys,

I have accepted an offer for Strategy&'s M&A strategy team starting in April. I really want to hit the ground running in the new role but am unsure how to best prepare.

Any guidance would be really appreciated including any specific resources or books with may be beneficial.

Thanks in advance.

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Nathaniel
Expert
updated an answer on Dec 05, 2019
McKinsey | BCG | CERN| University of Cambridge

Hello there,

Congratulations for accepting the new role!

It would be useful to familiarize yourself with the following elements of M&A:

  • Due diligence: financial, operational, commercial, etc
  • Valuation: DCF, multiples, comparables
  • Synergies: costs, revenues
  • Deal structuring: legal, accounting, tax, anti-trust considerations, key financial metrics, and financing structure
  • Post-merger integration: culture, communications, organization structure, operations, business processes

I would suggest to read the materials below to be best prepared:

  • Valuation: Measuring and Managing the Value of Companies - Tim Koller, Marc Goedhart, and David Wessels (McKinsey & Company)

  • Mergers & Acquisitions from A to Z: Strategic and Practical Guidance for Buyers and Sellers - by Andrew J. Sherman

  • Perspectives on Merger Integration (McKinsey & Company) -https://www.mckinsey.com/client_service/organization/latest_thinking/~/media/1002A11EEA4045899124B917EAC7404C.ashx

  • The Art of M&A: A Merger Acquisition Buyout Guide - by Stanley Foster Reed, Alexandra Lajoux, and H. Peter Nesvold

  • The Brave New World of M&A: How to Create Value from Mergers and Acquisitons (BCG)
    https://www.bcg.com/documents/file15069.pdf

  • Buyout: The insider's Guide to Buying your Own Company - by Rick Rickertsen

  • M&A in Disruption: 2018 in Review - Using M&A to ride the tide of disruption (Bain & Company)
    https://www.bain.com/contentassets/fe0330765f7f478091d189867a614780/bain-report-manda_in_disruption_2018_in_review.pdf

  • Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions - by Joshua Rosenbaum and Joshua Pearl

Hope it helps and all the best!

Kind regards,
Nathan

(edited)

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Anonymous A on Dec 05, 2019

Many thanks Nathan

Nathaniel gave the best answer

Nathaniel

McKinsey | BCG | CERN| University of Cambridge
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