Simply put, the price UTX will pay for this acquisition – which comes to ~$33 billion when accounting for all forms of debt and unfunded pension liabilities – makes it almost...
While this deal certainly could be good for AMZN, we believe the market may be ignoring some of Whole Foods Market’s off-balance sheet liabilities that make this acquisition...
While we’ve taken issue with many of the large acquisitions in 2016, this deal not only passes the economics test, but also creates a combined firm with a strategic focus on...
Overpriced acquisitions are far from a new phenomenon, but they’ve been especially prevalent in recent months. As a result, we’ve gathered some ideas about the various reasons...
Under even the most optimistic integration scenarios, we believe that Salesforce.com’s proposed acquisition of Demandware for $75/share or $2.85 billion represents an...
Many investors in professional services firm Towers Watson (TW) have viewed the recent merger with reinsurer Willis Group (WSH) as a raw deal for TW shareholders. The crux of...
In this extended podcast, CEO David Trainer will discuss the right way to analyze the Time Warner Cable and Charter Communications deal and determine whether or not an...
CEO David Trainer will show the right way to analyze the Time Warner Cable and Charter Communications deal and determine whether or not an acquisition creates value.
Icahn might be able to engineer a sale to DG or someone else that will earn himself and other shareholders a quick profit, but unlocking long-term value will be a much more...
Incentive plans that encourage executives to chase short-term growth at the expense of healthy capital allocation make this sort of irrational behavior not just possible, but...
After a few weeks of rumors, on Sunday AT&T (T) confirmed its $95/share offer for DirecTV (DTV). The deal will be part stock and part cash, and is expected to close within 12...
One of the biggest misconceptions in the investing world is that the merit of an acquisition should be judged by whether or not it is “earnings accretive”. The impact of an...