A conversation with Professor Stephen G. Morrissette on M&A strategy during shaky markets

By William Jefferson Black & Prof. Stephen G. Morrissette

Although it’s difficult to assess the turbulence in today’s M&A environment, dealmakers face some exciting opportunities. 

In this wide ranging discussion with Stephen G. Morrissette, Ph.D, Adjunct Associate Professor of Strategic Management at the University of Chicago's Booth School of Business, we discussed M&A strategy during shaky markets and the challenges that are unique to periods where deal flow slows.

According to Professor Morrissette, a classic mistake is.....

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Maximizing value through M&A tax structures

Maximizing value through M&A tax structures
By Mr. Michael O'Connor & Lee Morlock & Mr. Gene McCluskey & Ms. Michelle Baxter

This session considered tax issues in due diligence, the tax benefits of various M&A structures, and looked at key tax provisions in acquisition agreements. 

The participants Lee Morlock, Esq., Partner at Kirkland & Ellis; Gene McCluskey, Vice President, Tax at CF Industries; and Michelle Baxter, Senior Director, Tax Planning & International Tax at Fortune Brands Home & Security offered perspective on recent tax developments that may impact transaction planning and explored the increasing use of...

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Capital considerations and the outlook for private equity

By Gregory M. Wright & Mr. Charles M. Sheridan & Mr. Marcus George & Mr. Craig M. Payne

This panel from Transaction Advisors M&A Conference at the University of Chicago explored M&A financing across a range of deal types; looked at the current and forecasted state of the leveraged finance market, and offered some insights on creative financing approaches.  The conversation then explored recent changes in private equity investments and considered the factors that will influence acquisitions during the next five years.

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Negotiating M&A deal terms

By Mr. William Monat & Jessica H. Sicsu & Kelly Silver & Mr. Ian G. Ross & Ms. Khun Lebakken

This session demonstrated the give-and-take between buyers and sellers in negotiating key provisions in both domestic and cross-border deals. The discussion included a look at current M&A deal terms from the perspectives of private equity and strategic buyers and  sellers,  and the latest trends in negotiating key provisions.   Significant consideration  were  given to the increasing use of transactional insurance in deal structuring and the interplay between traditional structured indemnity terms and representations and warranties coverage.  The  panelists  also looked at methods for employing specific pricing formulations in stock swaps and “earn-out” transactions.

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