Publications

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Publications

  • pdf Private Equity – Smart Financial Source for Expansion
    Corporate development and strategic moves require significant investment. The time and pace at which this happens may not be the choice of the company but could well be imposed by market conditions. What if this means a radical reorientation at a moment the company’s resources are limited ?
    File size: 123 kB
  • pdf Mergers in Switzerland: Opportunities and Risks
    Valid reasons for considering Mergers and Acquisitions in Switzerland are the same as anywhere in the world: growth potential, cost savings, economies of scale, complementing technological skills, access to new markets, etc.
    File size: 342 kB
  • pdf Finding the Right Financial Partner
    European M&A Summit Workshop: Finding the Right Financial Partner
    File size: 3 MB
  • pdf Staple Financing – The Case of BPby A. Guzman and Prof. Ian Cooper, London Business School
    The term staple financing (SF) refers to a situation in an M&A transaction in which the financing arm of the sell-advisory bank “staples” a financing offer to the asset or target company being sold. The buyer (s) can choose to accept or not the SF offer. In theory SF is attractive to sellers because it mitigates the risk that the buyer is unable to raise financing to acquire the asset, decreases the time to closing the deal, and sends a comfort signal to buyers, which could potentially result in a higher sale price. In practice, some sellers (e.g. BP) see that SF adds marginal value, and are concerned with the conflicts of interest between the sell-advisory and buy-financing role of banks.
    File size: 883 kB