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The Mergers & Acquisitions Handbook – A Practical Guide to Negotiated Transactions

Chapter 1 The Mergers and Acquisitions Process

  • Why Buyers Buy and Sellers Sell
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  • Elements of Value
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  • The Players
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  • Acquisition Process
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  • Time and Responsibility Checklist
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  • Leveraging The Process
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Chapter 2 Letters of Intent & Term Sheets

  • Letter of Intent Pros and Cons
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  • Binding or Non-Binding
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  • Elements of the Letter of Intent
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Chapter 3 The Nondisclosure Agreement

  • Understanding the Scope of Confidential Information
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  • Use of Confidential Information
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  • Non-Disclosure of Discussions
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  • Legally Required Disclosures
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  • Return or Destruction of Materials
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  • Non-Solicitation/Employment
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  • Term
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  • Remedies
    •
  • Choice of Law/Forum
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Chapter 4 Legal Due Diligence

  • What Is Due Diligence and When Is It Performed?
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  • What Are the Objectives of Due Diligence?l
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  • Overview of the Due Diligence Process
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  • Who Is Involved and the Necessity of a Diverse Team of Experts
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  • Due Diligence Request List
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  • Response to Due Diligence Request List
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  • Scope and Process of Review
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Chapter 5 Deal Structures

  • Principal Deal Structures
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  • Stock Purchase
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  • Asset Acquisition
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  • Mergers
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  • Considerations in Choosing a Structure
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Chapter 6 Definitive Acquisition Agreement

  • Definitions
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  • Economic and Structural Provisions
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  • Representations and Warranties
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  • Interim and Post-Closing Covenants
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  • vii
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  • Employee Matters
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  • Deal Protection Devices
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  • Conditions to Closing
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  • Indemnification
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  • Termination
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  • Miscellaneous Provisions
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Chapter 7 Indemnification & Contribution

  • Why Indemnification?
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  • Acquisitions of Publicly-Traded Targets
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  • Types of Indemnified Matters
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  • Definitional Limitations on Indemnification
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  • Monetary Limitations on Indemnification
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  • Other Limitations on Indemnification
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  • Sole and Exclusive Remedy
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  • Indemnification Procedures; Dispute Resolution
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  • Hold-Backs of the Purchase Price
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  • Contribution Agreements
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Chapter 8 Fiduciary Duties of Board of Directors

  • Overview of Fiduciary Duties
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  • Heightened Fiduciary Duty
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  • Fiduciary Duty Implications of Certain M&A Transaction Terms
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  • Voting Agreements
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Chapter 9 Stockholder Approvals and Securities Compliance

  • Obtaining Stockholder Approvals
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  • Registration Statements For Buyer's Securities
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Chapter 10 The Role of Investment Bankers in M&A Transactions

  • The Engagement Letter
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  • Fairness Opinions
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Chapter 11 Hart-Scott-Rodino and Related Regulatory Matters

  • Brief History and Purpose of the Act
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  • HSR Notification Requirements
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  • Beyond Notification
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  • Beyond the HSR Act — Government Challenges Outside the Statutory Context
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  • Beyond the HSR Act — International Pre-Merger Notification Requirements
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Chapter 12 Tax Considerations

  • Taxable Transactions
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  • Tax-Free Reorganization
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Annex Section

  • Annex 3-A Mutual Nondisclosure Agreement
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  • General
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  • Definitions
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  • Use of Evaluation Material
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  • Non-Disclosure of Discussions
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  • Legally Required Disclosure
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  • Return or Destruction of Evaluation Material
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  • No Solicitation/Employment
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  • Standstill
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  • Maintaining Privilege
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  • Compliance with Securities Laws
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  • Not a Transaction Agreement
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  • No Representations or Warranties; No Obligation to Disclose
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  • Modifications and Waiver
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  • Remedies
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  • Legal Fees
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  • Governing Law
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  • Severability
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  • Construction
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  • Term
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  • Entire Agreement
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  • Counterparts
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  • Annex 3-B Summary Checklist
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  • Definition of Confidential Information
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  • Use of Confidential Information
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  • Non-Disclosure of Discussions
    •
  • Legally Required Disclosures
    •
  • Return or Destruction of Materials
    •
  • Non-Solicitation/Employment
    •
  • Term
    •
  • Remedies
    •
  • Miscellaneous Provisions Applicable to Providers and Recipients
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  • Annex 4 Sample Due Diligence Checklist
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  • Annex 11 Certain HSR Exempt Transactions
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