3 May 2012 | Financial Times | by Matthew Garrahan.

Silver Lake, the technology investment firm , has bought a 31 per cent stake in William Morris Endeavor Entertainment, which represents stars such as Matt Damon and Sacha Baron Cohen, to finance the expansion of the media and entertainment agency into new digital areas,

April 18, 2012 | WSJ | By Jonathan Welsh

April 17, 2012 | WSJ |By BEN DUMMETT

By KELLEY HOLLAND
Published: June 24, 2007

April 15, 2003 | WSJ | Paulette Thomas.

THE LESSON: Even the most straightforward mergers present unforeseen challenges. Expect surprises and stay flexible.

April 18, 2012 | WSJ | By SHAYNDI RAICE, SPENCER E. ANTE and EMILY GLAZER.

"You want the board to provide caution to the CEO,'' said Ralph A. Walkling, executive director of the Center for Corporate Governance at Drexel University's business school. "They are the last line of defense for minority shareholders.''....Wall Street's traditional rules for valuing companies offer little help in putting a number on a company like Instagram. While the start-up, just 18 months old, had no revenue, its fast growth gave Mr. Systrom leverage. His company is strong where Facebook has been weak—on devices like the iPhone—and took aim squarely at Facebook users' favorite activity, sharing photos.

Instagram makes a smartphone "app" that lets people take photos, dress them up with special effects, and easily share them with friends. In the first three months of this year, its user base nearly doubled, to about 30 million, the company says....Mr. Zuckerberg, who planned to pay for Instagram mostly with stock, asked Mr. Systrom what he thought Facebook would be worth, the people said.

April 23, 2012 |Globe and Mail | by BOYD ERMAN.

For TMX, the issue is that the company, in the meantime, is strategically stuck. Maple’s bid killed TMX’s first choice, a merger with London Stock Exchange Group PLC. Now, after agreeing to a friendly deal with Maple, TMX is prohibited under the merger contract from doing any major acquisitions without Maple’s approval.

As analyst Jeff Fenwick of Cormark Securities points out, opportunities are passing TMX by. Two prime assets that TMX could afford – a key consideration since TMX is not that big by world standards – have recently gone on the market.

The London Metals Exchange, the world’s biggest metals marketplace, is deciding whether to go ahead with a sale. The price is expected to be in the neighbourhood of $1.3-billion (U.S.), easily doable for the TMX. Imagine the strategic possibilities of tying together the stock market operator with the biggest commodities presence and the largest metals marketplace.

But it doesn’t appear TMX is in the running, though competitors such as CME Group, NYSE Euronext, and Intercontinental Exchange reportedly are.

May 21, 2002 | WSJ | By MICHAEL MALONE

Who is "Alcibiades"?

Winter 2003 | Journal of Private Equity | by Christopher "Kit" Lisle

ERIC REGULY | Columnist profile | E-mail
ROME— From Saturday's Globe and Mail
Published Friday, Mar. 23, 2012

The point is that Viterra is irreplaceable, certainly within our lifetime. Glencore is nabbing 63 grain elevators and seven port terminals in Canada that could not magically be built overnight should another group of investors decide to clone Viterra.

This industry has massive barriers to entry and that’s why Glencore, led by the ever-savvy Ivan Glasenberg, pounced. For him, it was a once in a lifetime opportunity (and pocket change compared to Glencore’s $45-billion market value). If he didn’t nail Viterra, he knew it would have disappeared into the maw of Archer-Daniel-Midlands, Cargill, Bunge, Louis Dreyfus or any of the other agribusiness heavyweights who know that food isn’t going out of style and that feeding another 2 billion people by 2050 just might translate into compelling growth story....If there is one industry that had a bright future, it was global agriculture and Canada had all the components: Land, water, fertilizer, technology, schools, expertise, infrastructure, agri-business companies. What it lacked was ambition.

Viterra could have been the foundation of a Canadian Glencore or Cargill. Now it’s a piece of someone else’s global vision.

Sept. 2004 | | Mergers & Acquisitions: The Dealermaker's Journal, 00260010, , Vol. 39, Issue 9 | By:David K. Thornquist

Traditional due diligence focuses on reviewing board minutes, reports, financials, sales forecasts, and other writings that are fully vetted. This is supplemented by interviews with managers who answer questions to the best of their ability, but with the caveat that management can't have complete knowledge of everything and everyone under their watch. And individual managers may have a host of motives and objectives that prompt answers that are not fully candid.
Uncovering the real story

Traditional due diligence, however, typically ignores email, the lifeblood of an efficiently run business. The spontaneous and unpolished nature of e-mail presents the most candid view of what is really going on in a company. It provides context. It also can fly in the face of the fully vetted printed record offered by a company under the due diligence microscope.

March 20, 2012 | WSJ | By BEN DUMMETT.

March 14, 2012 | WSJ | By LAURA MILES AND TED ROUSE.

After the Merger, How Not to Lose Customers
Customer defections are a major reason why more than half of all mergers fail to improve shareholder value.

eric reguly
Rome— Globe and Mail Update
Published Thursday, Feb. 02, 2012

January 19, 2012, 8:00 pmMergers & Acquisitions
A Jedi of Deals Brings His Magic Back to Morgan Stanley
By EVELYN M. RUSLI

December 15, 2011 | WSJ | By Ben Worthen. Salesforce Makes A Rypple With New Acquisition

X 10.30.00 » - Forbes.com » Luisa Kroll,

2004 | Fiancier Worldwide |

November 2nd, 2011 | Startups | by Jonas Brandon. Emboldened with financing from OMERS Ventures and Charles River Ventures, Wave Accounting is consolidating their position as a leading provider of SaaS business applications, expanding from accounting into payroll with the acquisition of Small Payroll

MAY 1996 | McKinsey Quarterly | PATRICIA L. ANSLINGER AND THOMAS E. COPELAND

LBOs outbid corporate buyers and then produce extraordinary returns. How do they do it? A study of over 800 acquisitions shatters some myths about the value of timing and leverage. Don’t do the deal if you can’t find the leader.

Making acquisitions work

But making this type of acquisition work is not easy. Our research found that successful corporate and financial buyers adopt seven key operating principles. These principles affect almost every stage of the acquisition process, from the identification of candidates to postmerger management. They are:

* Insist on innovative operating strategies.(The lesson: Don't look for growth only in high-growth industries.)
* Don't do the deal if you can't find the leader.
* Offer big incentives to top-level executives.
* Link compensation to changes in cash-flow.
* Push the pace of change.
* Foster dynamic relationships among owners, managers, and the board.
Hire the best acquirers.


MAY 1996 • PATRICIA L. ANSLINGER AND THOMAS E. COPELAND

June 1, 2005 | Business 2.0 | By Paul Kaihla.

The prime targets? American brands and manufacturers, as well as distributors that peddle Chinese goods. "The Chinese want to cut out the middleman by buying him," says John Rogers, a Chicago lawyer and investment banker who last year formed the MidWest U.S.-China Association to play matchmaker. One manufacturer on the prowl is Chenghai Yongjia Enterprises, a Guangdong-based industrial group whose construction tools are sold at Home Depot. Last year the company enlisted Anita Tang, a Chicago consultant and China expert, to help it find a distributor. "They went into a Home Depot and nearly fainted," Tang recalls. "The tools were priced 10 times higher than what they were paid for them." Because prices tend to double every time goods change hands, the firm could fatten its margins dramatically by buying a middleman.

By JAMES FLANIGAN
Published: August 16, 2007

JUNE 23, 2005 | WSJ | By GEOFFREY A. FOWLER.

Foreign companies have used several strategies to expand into the U.S. Some purchased U.S. brands …Others have built their U.S. customer base organically….But this path can take a long time and hit bumps along the way…But Japanese and Korean manufacturers that moved to the U.S. enjoyed a boost their Chinese counterparts lack: a government-protected home market in the 1980s and '90s that allowed them to finance their international push with rich profits from domestic sales. China has largely opened up its consumer market to competition. …Wooing brand-conscious Americans shoppers is a slow process that almost no Chinese manufacturers, used to selling on price, have mastered. Almost a decade ago, Konka Group Ltd., then China's biggest TV maker, made a big push into the U.S. and seemed to make progress for a while with a low-cost line of sets. But it never gained the marketing savvy or name recognition it needed and has since retreated to its home market, where it has slipped to No. 3…Buying an established company, on the other hand, offers Chinese companies immediate access to technology, experienced marketing executives and coveted distribution channels at a time when America's retail industry is consolidating…. The biggest hurdle, though, has been finding enough people who can bridge Chinese and Western business cultures. "Maybe Haier has the people," says Vincent Yan, a managing director of TCL. "We needed cross-cultural people with the right business experience. Those are very hard to accumulate."

14 Sep 2011 | Reuters Breakingviews | By Robert Cyran. When
Frank Quattrone comes calling, buyers should beware. The latest coup for
the former CSFB ace is persuading Google to bid against itself for
Motorola Mobility. Since launching Qatalyst Partners, his premium
investment bank, Quattrone has extracted a much higher premium for
clients than rival tech bankers. Silicon Valley has now been given fair
warning.

Sep. 10, 2011 | The Globe and Mail | by grant robertson — BANKING REPORTER

August 15, 2011 | WSJ | By Ben Rooney

JULY 21, 2011 ANUPREETA DAS. Google in Talks With Wireless Patent Firm

April 5, 2011 | Globe & Mail | ANDY HOFFMAN.
Minmetals wants Equinox. Equinox wants Lundin. The three-way battle will change the global map for copper

May 18, 2011, 2:46 PM
Are Talent Acquisitions a Sign of a New Bubble?
By MIGUEL HELFT

May 10, 2011, 2:07 pm
What Does the Skype Deal Mean for Windows Phones?
By JENNA WORTHAM

By ROBERT GIBBENS, The Gazette April 30, 2011

Apr 29, 2011 | Bloomberg | By Juan Pablo Spinetto

Oct 19, 2010 | Globe & Mail pB1. | GRANT ROBERTSON and TIM KILADZE

Nov 23, 2010. The Globe and Mail.pg. B.2 Boyd Erman.

Mar. 31, 2011 | Globe and Mail | SIMON AVERY — INVESTMENT
REPORTER. Ebay moved to close the gap with Amazon and go after the
business of big retailers. Pennsylvania-based GSI Commerce helps big
merchants sell online, providing an infrastructure that includes order
management, payment processing, customer service and shipping and
tracking. If the deal goes through, it will not only be eBay’s largest
acquisition in its 16-year history, it will alter the direction of the
company.

By LIZ ALDERMAN
Published: March 5, 2011

Computing
Anonymous. The Economist. London: Apr 25, 2009. Vol. 391, Iss. 8628; pg.
65
The industry is, in other words, going back to its past, when it was
dominated by a few integrated companies that tried to do it all.

This is, in part, a consequence of the industry's maturity: to keep
growing, firms have to invade each other's markets. In addition,
customers increasingly prefer to buy integrated systems from one vendor,
rather than doing the plumbing themselves.

February 23, 2011, NYTimes.com By JONATHAN D. GLATER

Joseph H. Flom, a pioneering corporate lawyer who helped build Skadden,
Arps, Slate, Meagher & Flom into one of the nation’s leading law
firms, died on Wednesday morning in Manhattan. He was 87.

Feb. 16, 2011 | The Globe and Mail| Editorial TMX Group Inc. is
in a sense a strategic asset for Canada, as some people are saying, but
that is all the more reason why it should be free to expand its scope
and compete beyond Canada by merging with London Stock Exchange Group
PLC, giving Canadian issuers and investors wider opportunities. The
adjective “strategic” should not be a synonym for “to be
protected.”....Good strategy is outward-looking, not merely defensive.
TMX should be entitled to pursue its hypothesis that a transatlantic
alliance would make it, more than before, a strategic asset for
Canadians.

11/15/2004 | HBS Working Knowledge | by David Harding and
Sam Rovit
Many companies are "terrifyingly unclear" to themselves and investors
about why they are making an acquisition, according to the authors of a
new book, Mastering the Merger. Support comes when you spell it out.

Nov 11th 2010 | The Economist

Nov 11th 2010 | The Economist |

Mention to Loewen & Partners.

SEPTEMBER 27, 2010 | Wall Street Journal | By PAUL SONNE in London and ROBB M. STEWART

September 2, 2010 | | L arry Rohter, a DealBook colleague,
is the author of “Brazil on the Rise: The Story of a Country
Transformed” (Palgrave Macmillan), which came out this week. He writes
about the symbolism of the buyout bid for Burger King:

Aug. 19, 2010 | The Globe and Mail | Boyd Erman and Brenda Bouw

Jul. 29, 2010 | Globe and Mail | by Eric Reguly

JULY 13, 2010 | Wall Street Journal | By JOANN S. LUBLIN and
DANA MATTIOLI. Consolidating Consultants: Aon Agrees to Buy Hewitt .
"You will continue to see more consolidation in the sector,'' predicted
Timothy McHugh, a consulting-industry analyst for William Blair &
Co. in Chicago. Firms keen to make acquisitions "are looking for global
scale, diversity and additional products and services to cross sell to
their clients,'' he said.

JULY 13, 2010 | WSJ | By ANDRIA CHENG.

June 09, 2010 | Knowledge@Wharton | Anonymous. "...The big
difference between what's happening in the tech sector and a traditional
leveraged buyout is that there is little to no debt involved in the
recent tech deals." ..."The challenge for the acquirers is that they
have to integrate their targets and then create a new market or product
category. "

February 2002 | ASSOCIATION MANAGEMENT | By: Bronislaw Prokuski

2003 | The Journal of Business Strategy Vol. 24, Iss. 5; pg. 22 | C. Gopinath

July/August 2003 | Ivey Business Journal | By Lana Phair-Sutherland and Cameron Turner. Possible research for CARP?

April 6, 2007 | Wall Street Journal Page A1 | By ILAN BRAT

How Conglomerate ITW Mints New Deal Makers
To Fuel Its Expansion

09-17-2007 The Globe and Mail by Schachter, Harvey
MERGERS AND ACQUISITIONS
MEDIA RELATIONS: DEALING WITH WIKIPEDIA
E-mail Think of the other person