The M&A activities in the United States experienced an increase to USD 658.76B in Q1 from $472.5B in Q4, reflecting a 39.4% Q/Q increase, and a decrease from $815.28B in Q1 2018 due to greater market volatility, trade tension and the threat of Brexit. M&A Drivers A few drivers of M&A activity
Investment Banking
Understanding a Merger and Understanding a Merger Model
A Lesson in Mergers & Acquisitions Theory Step back for a second and forget all of the accretion/dilution, tax implications and purchase price allocation jargon that goes into mergers and acquisitions and read this to understand the basics of mergers and acquisitions. A firm buys another firm. There are no synergies and
Introduction to Hostile Takeovers and Unsolicited Bids
What is a Hostile Bid? Hostile takeovers happen when an acquiring entity looks to purchase a public company without the blessing of the Board of Directors or executive management. The would-be acquirer instead makes an offer for shareholders to tender their shares to them or starts a proxy fight to boot
Sale and Leaseback Transactions in Investment Banking
Canadian M&A Roundup Q4 2018
Compiling a Buyers List in Investment Banking
Compiling a Buyers Universe When investment bankers are looking at an asset or a corporate for sale, the natural question is who buys it. This is part of the expertise that the investment banker provides in their services offering. At a large investment bank such as JP Morgan, there are large, dedicated
Accessing Leveraged Capital Markets – Part II
Getting a Credit Rating for High Yield Bonds When debt issuers want to issue debt in a public offering1, they will need credit ratings from the three major credit rating agencies: Moody's, S&P and Fitch Ratings. Generally, investors like to see at least two, with Moody's being the gold standard when it
Accessing Leveraged Capital Markets – Part I
Issuing High Yield Bonds For levered companies that do not fit the investment grade bucket, there are still robust capital markets options available for debt issuance through the leveraged finance divisions of global investment banks. As discussed in other leveraged finance posts, a large suite of buyers invest in high yield bonds
