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Revenue Synergies in Acquisitions

What is driving the global surge in M&A deals?  In many cases, companies are looking for revenue growth.  But how is the pursuit of revenue synergies working out?  With less than a quarter of acquirers reporting that they are achieving more than 80% of their target, there is clearly room for improvement.  This may not come as a surprise—it is widely understood that revenue synergies are more difficult t ...

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How the Big Time M&A Game is Changing

The number of deals involving firms with over $100 million dropped 25% last year to 104 deals, from 130 in 2015, according to Fidelity’s 2016 Wealth Management M&A Transaction Report.  Charles Paikert, senior editor for Financial Planning, looks at why the big RIA buyers are becoming more discerning. To read the full article in FinancialPlanning, click: How the Big Time M&A Game is Changing. ...

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Federal Securities Class-Action Suits Jump to 20-Year High in 2016

Federal Class-Action Litigation in Securities Disputes Rises Class-action securities lawsuits filed in federal court last year numbered 270, the most in 20 years, according to a report from the Stanford Law School Securities Class Action Clearinghouse and Cornerstone Research.  The 80 filings related to mergers and acquisitions were the biggest factor in the increase.  Meaghan Kilroy explains. To read the f ...

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The Growth Plan: Keeping your Practice on Course

Many advisers have plans for growth, but does anyone really know what causes above average sustained progress?  After years of experience and study, Glenn Kautt, CFP, EA, AIFA, concluded that leading a firm requires you to have a detailed plan. To read the full article in Financial Planning, click: The Growth Plan: Keeping your Practice on Course. ...

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Analyst Considerations of a Taxable Stock Purchase M&A Structure

Transaction Structure Considerations on Target Company Value Valuation analysts do not have to be investment bankers to value an M&A candidate, but they do need to understand taxable and non-taxable stock acquisitions. This discussion summarizes some of the tax benefits—and some of the tax complexities—associated with a taxable stock purchase deal structure. Although the analyst is not expected to be th ...

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Purchase Price Allocations in the Lab Services Industry

Mergers and acquisition activity relays much information to the general public.  Following an M&A transaction, acquirer companies conduct purchase price allocations (PPAs) to measure the fair value of various tangible and intangible assets of the acquired business.  Karolina Calhoun, senior financial analyst with Mercer Capital, discusses that the Mercer Capital Lab Services Newsletter observes and anal ...

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How to Play the M&A Game

A merger or acquisition is a critical move, and many don’t work out.  Are you ready to make the jump?  John J. Bowden Jr. explores some topics you should consider first. To read the full article in Financial Planning, click: How to Play the M&A Game. ...

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Creating the Bridge Between Transfer Pricing and the Valuation of Intangibles

Mergers and acquisitions (M&A) have continued growing since 2008’s financial crisis.  Through the first three months of 2016, the value of worldwide M&A totaled nearly $750 billion.  Cross-border M&A activity totaled $308 billion—accounting for a quarterly record-high 41% share of global M&A value.  As in previous years, M&A in industries with hefty intangible assets—such as pharmaceutic ...

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Preferences and FinTech Valuations

2015 was a strong year for FinTech.  But, there are complexities in valuing venture-backed technology companies and the ability for market/investor sentiment to shift quickly.  So, as Jay D. Wilson, Jr., vice president and senior member of Mercer Capital’s Depository Institutions practice, explains, it is important to have a valuation professional that can assess the value of the company as well as the mark ...

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Financial Reporting Blog: Best of 2015

With the New Year just around the corner, Mercer Capital is beginning their countdown a little early.  Here are this year’s 10 most popular posts from The Financial Reporting Blog.  Happy New Year 2016! To read the full article in Mercer Capital's Financial Reporting Blog, click: Financial Reporting Blog: Best of 2015. This article is republished from Mercer Capital's Financial Reporting Blog.  It is reprin ...

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Dissenting Shareholders and Bank Appraisals: Speak Now or Forever Hold Your Peace

Being on the rise, dissenting actions are catching the eye of investors, attorneys, and other deal makers.  Jay D. Wilson, Jr., senior member of Mercer Capital’s Depository Institutions practice, takes a look at why it is important an appraiser preparing a valuation of a bank in an appraisal action understand both valuation techniques and the banking industry. To read more about the results of this report i ...

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Post-M&A Disputes

What Financial Advisors and Quantum Experts Should Consider in this Growing Market Neither the seller nor the buyer intends a dispute to arise as a result of a successful or failed M&A transaction. However, due to the economic importance of M&A decisions and the high purchase prices paid, contentious situations can be observed in around ten percent of all M&A transactions as studies have shown. ...

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Fairness Opinions and Down Markets

Does anyone know what the future holds for markets?  Perhaps fairness options can help financial advisors seek the answers they are looking for.  Jeff K. Davis, Managing Director of Mercer Capital’s Financial Institutions Group, explores this option and some issues to consider when deciding if it should be used in a falling market.   To read more about the results of this report in the Mercer Capital's ...

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The Return of Zero-Base Budgeting

Is Zero-Base Budgeting (ZBB) making a comeback and will it stick around this time?  Matt Fitzpatrick and Kyle Hawke for McKinsey, examine five key elements of success and share their tips for a new beginning. To find out more on the McKinsey and Company’s article, click: The return of zero-base budgeting. ...

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Unlocking Client Value Leads to Firm Growth

The Opportunity for Value Growth Services How can one differentiate oneself? Scale production or services? Whether you’re an M&A advisor, a business valuator, a CPA, a transition planner, or a turnaround consultant, you would probably be very successful if you could consistently execute this simple growth strategy. For most people, the challenges of differentiating and scaling often seem to prevent succ ...

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A Capital Raise in Acquisition Clothing?

M&A is an infrequent occurrence among business development companies (BDCs). “Under the external management model, the opportunity for material cost savings is limited, and prices at or near NAV indicate that investors assign little ‘franchise’ value to the lending and origination platforms.” Travis W. Harms, of Mercer Capital’s Financial Reporting Valuation Group, discusses the recent acquisition of MCG Ca ...

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Second Fairness Opinions

Fairness opinions are offered by financial advisors, primarily, investment bankers on behalf of the Board of Directors who rely on them when considering a significant corporate event. The fairness opinion says that the impending transaction is fair from a financial point of view of the subject company’s stakeholders. As Jeff K. Davis, Managing Director of Mercer Capital’s Financial Institutions Group, expla ...

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Fairness Opinions: Evaluating a Buyer’s Shares from the Seller’s Perspective

M&A activity has accelerated substantially in 2014 following the financial crisis.  When an acquisition proposal is being weighed, there needs to be a thorough vetting of the buyer’s shares.  A fairness opinion evaluates the investment merits of the shares before and after a transaction is consummated says Jeff K. Davis, CFA with Mercer Capital.  This article discusses the key questions you need to ask ...

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