Retail M&A: Where it went wrong (Definitive Guide)

Corporate Finance

Retail M&A: Where it went wrong (Definitive Guide)

July 17, 2018

Severe pressure on margins.  Barriers to entry broken down completely by disruptive technologies run by rival firms. An entire industry under threat from what KPMG calls a cocktail of evidently toxic macroeconomic and technological factors. Plenty of potential synergies, highly qualified advisers, an educated workforce and experienced management. A perfect opportunity for M&A, surely? What […]

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A History of Corporate Finance: Post-war Corporate Finance

June 26, 2018

As the timeframe shortens in this six-part review of corporate finance history, the pace of developments increases to match. The hallmarks of post-war corporate finance were the dominance of the corporate form and the increasing role of the kind of theory that is now always introduced in corporate finance training. Worldwide equity markets now allowed […]

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A History of Corporate Finance: From 1900 to the end of World War II (1900-1945)

June 22, 2018

The creation of the corporation took thousands of years, but criticism was much quicker to emerge. Whilst the new companies were attracting large numbers of shareholders, both in Europe and the United States, Brandeis’ famous 1914 paper, Other People’s Money and How the Bankers Use It was one of the first to direct attention to […]

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A History of Corporate Finance: From Earliest Times to the beginning of the Twentieth Century

June 13, 2018

The first ground-breaking history of corporate finance was published twenty-one years ago. Now seems a good time to take stock, review the history of what has become such an important part of world finance on the basis of much that has written since, speculate as what they might now say differently about the past and […]

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How to Value a FinTech Business

May 29, 2018

Within the fintech sector there are some fast-growing, large venture backed technology companies which have secured mega-financing, in turn creating ‘crazy’ valuations, according to KPMG. So, what would a ‘sane’ valuation for a fintech be? Back in 2016, McKinseys, in a report critical of the valuation growth prospects of unicorns – start-ups valued at over […]

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Legal Aspects of a LBO

April 12, 2018

In an LBO, an outside investor borrows and invests to gain a controlling shareholding of the target company. Any M&A transaction, as featured in courses for lawyers, brings a multitude of legal issues, Legal work may often commence with legal due diligence and investigation of any ultra vires issues, such as overseas investor rules. But […]

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Are boutique M&A advisors the future?

April 10, 2018

Originally, the English Privy Council was a small, intimate affair – advisers to the Monarch. It became unwieldy over time, and was eventually replaced by a smaller outfit, the Cabinet. That in turn has grown, and spawned smaller committees. It seems to be a law of organisations that if you get too big, you will […]

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Corporate Finance Training and Webinars: A Deal Waiting To Be Done

March 19, 2018

The original use for a steam engine was static. Thomas Newcomen’s first commercial true steam engine was used in 1712 for pumping flood water from a mine. It worked, for sure, but what really made steam engines ubiquitous in the following centuries was, of course, connecting pistons to wheels. Two technologies – one old, one […]

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The Importance of having the right Investment banking Analyst Training Programme

February 26, 2018

The tale is told of a US investment bank CEO who refused to believe in any form of investment banking training. He – it was a he – insisted that all analysts recruited would not be ‘subjected’, as he put it, to any form of analyst training. Rather, reliance would be placed on degree certificates, […]

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How to Win More Business as a Corporate Finance Adviser

February 13, 2018

Executing M&A business can be tough work. Winning it can be even harder! We practitioners have chosen to operate in one of the most competitive business sectors. Investment banking, M&A and corporate finance consistently attract the best people.  The early years are demanding, calling for 18-hour days, weekend working and constant availability. Seniority brings no […]

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