| Topic Name: |
M&A issues |
| Message Name: |
JD involvement |
| Date Posted: |
09/20/2001 |
| In Reply To: |
I can only speak with experience in terms of deal structuring. There, strat consultants tend to identify the strategic need for consolidation/merger/acq, run an initial screen of potential candidates (including some financial modeling), and work with the client to determine which company(s) is the best target. The reports of research analysts often play a role throughout, although we generate our own numbers bottoms-up because the analysts are sometimes *really* far off in their top-down models. Sometimes we also do due diligence on acq targets, especially on LBO targets.
At this point the bankers and lawyers take over and actually execute the deal. Once it's done, the bankers exit and the consultants (we hope) stay on to guide the company through integration. The bankers often do maintain a relationship with the CFO's office, especially when the acquiring firm has to load on debt to accomplish the acquisition. |
| Message: |
Thanks. That was HUGELY helpful. If you don't mind, though, I'd like to pick your brain some more.
The lawyers memorialize the agreement, but who is primarily involved in planning the agreement itself: lawyers, strat consultants, or bankers? Or a combination?
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