Dear Friends and Clients: Situation In short, the new operating lease accounting standards under International Financial Reporting Standards (“IFRS”) and U.S. General Accepted Accounting Policies (“GAAP”) will come into force at the latest in 2019 and cause certain operating leases to be reported on the balance sheet (i.e., increasing debt and assets) and reclassify lease […]
The Objective of the Presentation is to provide you an understanding of why we focus more on certain key areas and what due diligence we typically perform on an acquisition of a distressed company (vs. a healthy company).
Dear Clients, Friends and Colleagues, I have decided to write this paper The Modern Day Board: “Professional, Results Orientated, Data Analytical, Decision Body with Respect, Trust and Candor” because during my 20 plus years of working with Boards I have come to appreciate how critical their role is in leading a company to success. But […]
Dear Clients, Friends and Colleagues, As you are more than aware the U.S. economy appears to be in reasonable shape with modest growth and falling unemployment; however, the global economy is precariously balanced between continued recovery and a third leg of the global financial crisis, according to leading economists attending the 2016 World Economic Forum […]
I often hear from a Chief Executive Officer or the main shareholder of a business being sold that I have agreed the headline price with the buyer and now I will leave the details to my team. This is music to the ears of an experienced buyer who often say, “Let them decide the headline […]
Acquisition as a Strategy Before you make an acquisition, management needs to be clear on the company’s business plans and strategy so that an acquisition complements the strategic plans. Clarification of why investments in organic growth would not be as successful as acquisition and what an acquisition should bring to the table are very important […]
Joint paper on Government Defense Contracting by Timothy J. Dragelin (FTI Consulting), David Farrell (Farrell Advisory), and James W. Wolf (FTI Consulting)
Overview of the Restructuring and Mergers & Acquisitions Market While global M&A volume of $2.4 trillion in 2009, some 24% below 2008 levels, was the lowest annual total since 2004, restructuring (bankruptcy or distressed) M&A transactions reached the highest annual volume on record at $320.2 billion, according to Dealogic. The decrease in global M&A would […]