Mergers & Acquisitions from A to Z

By Andrew J. Sherman | Go to book overview

CHAPTER 11
Keeping M&A Deals on Track:
Managing the Deal Killers

Deal killers. We have all seen them and had to manage through them. They come in all shapes, sizes, and varieties, with different reasons, justifications, and rationalizations. They can emanate from the buyer, the seller, or any number of third parties, such as lenders, investors, key customers or suppliers, professional advisors—or all of the above. Some deal killers are legitimate for deals that deserve to die, and some are emotional, financial, or strategic in nature. They can be very costly to all parties to the transaction, especially when significant costs have already been incurred, and for certain advisors and investment bankers, they mean not getting paid. Clearly, deal killers inflict a lot of pain along their path of destruction of a transaction.

In such troubled financial times, deal killers can come as a shock and can be based on something as simple as a stark difference in the mind-set of the parties or lenders or even investors about the markets. Fear, not opportunity, is moving markets today. Following the highprofile failure of several buyouts over the past year, sellers are resisting provisions that permit a buyer, under certain conditions, to walk away simply by paying a fee. But buyers, who face their own challenges in securing commitments from banks to fund deals, are pushing back. More transactions have derailed in 2008 and 2009 because of factors such as deteriorating global financial market conditions, buyers developing cold feet in the middle of the deal, seller remorse, disappointment caused by record low valuations, or even an overall transactional fatigue

-252-

Notes for this page

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this book

This book has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this book

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this page

Cited page

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited page

Bookmark this page
Mergers & Acquisitions from A to Z
Table of contents

Table of contents

Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this book

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
/ 318

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Author Advanced search

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.