M&A @ Fortune 500?
Hello,
Is it unusual for a BB analyst to move on to an M&A department at one of the Fortune 500s?
Which Forbes 500s have reputable and active M&A departments? How are their comps vs BB comps?
Best,
Hello,
Is it unusual for a BB analyst to move on to an M&A department at one of the Fortune 500s?
Which Forbes 500s have reputable and active M&A departments? How are their comps vs BB comps?
Best,
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I know someone who did M&A at IBM. She said it was a great experience, because the work is much more specific, though it can get boring after a while. Apparently moving from a BB to F500 M&A is pretty normal, but you should expect the compensation to go down. You won't be pulling 700-800K in four to five years but more along the lines of 500K. It's less stressful though. You do get a lot of stock options at senior levels (eg. Chief development officer, Executive Director of development or Chief acquisitions officer)
M&A in Fortune 500 companies (Originally Posted: 05/17/2008)
Hi guys, I recently started working for a F500 company within their corporate finance group. I choose this job because the company is very active in M&A. My boss has told me that i will be involved (valuations,modeling etc) in 3 current deals going down. How do i prepare for this? and is f500 M&A alot diff from Banking M&A?
...oh and the company buys alot of mining, oil and gas consulting companies
"buys alot of mining, oil and gas consulting companies"
Hey, I have to say that it reminds of Enron~ Have you taken any course in M&A in your university? You may have a look at Weston's Takeovers, Restructuring, and Corporate Governance (4th Edition) (Prentice Hall Finance Series) http://www.amazon.com/Takeovers-Restructuring-Corporate-Governance-Pren…
This is the book that I used in my tutorials to MBA students. Admittedly, a pity is that too many theories are contained in the book, but as it turned out, the theory on this topic is not mature sufficient to give some valuable implications to the practice. I will share some tips about how to grasp the essentials of the book later. For a moment pls!
The first part provides us a good framework which ranges from the overview (you may read the 1st and 22nd chapters together at first), related law and regulation in US, Accounting and applied booking principles to Taxation.
You might neglect about the 5th chapter in that it is the focus of our lecture. The 6th, 8th and 20th chapters could be simply neglected for they are what we conduct in the research field.
The 7th chapter could be looked through if you feel interested in history; by contrast, you are recommend to look at 17th Chapter if you want to know the incentives to M&A, and the costs involved with.
The 9th chapter will be crucially important if you want to understand how we evaluate an enterprise and correspondingly, how to increase the value is to be covered in the following chapter, but it is introduced in a view of booking value to some extent.
The 11st chapter will be definitely important if you want to know how to restructure an over-diversified conglomerate corporation. But this part seems to be too brief to tell you the skills in practice.
Overview the results of empirical studies of restructuring in the next chapter. And the 13rd chapter certainly is not fortunate to a firm, possibly due to the cruise, where bankruptcy is covered (certainly, it is not sufficient at all, either in a view of Finance or in a legal perspective).
You may simply skip 14th and 15th chapters and only look at those sections you might personally feel interest in. Privatization and LBO are briefly talked about in the 16th chapter. Repurchase is not a relevant topic in M&A, except in the sections of 18.3 and 18.4 which touch the tender offer.
I do think Weston fails to demonstrate those measures of Anti-takeover in-depth in the 19th chapter. You may refer to a memo by Attorney Lipton on this topic, if you feel interested in it. Well, corporate governance is a hot issue especially after the enactment of SOA, but anyway the sections after 20.8 may be worth in the background of America. Just remind you of the fact that control right in Asian business environment is quite different as far as I am concerned from the research by me and my colleage.
For those financial professionals, it is important to how to make money by the event-driven investments, but the 21st chapter obviously could not do you a big favor but only some little implications.
Some friends and students of mine remark Weston's book is written by academics for academics. I do not deny it, and I am thinking about this book: Applied Mergers and Acquisitions (Wiley Finance) by Robert Bruner. You will be appreciated to tell me your opinion about the book. http://www.Amazon.com/gp/product/0471395056/ref=pd_cp_b_2?pf_rd_p=31771…
Wish it helps~ :)
Fortune 500 M&A (Originally Posted: 04/15/2007)
Hey guys, just wanted to know what some other people would think of this opportunity.
I might have an opportunity to work directly with a VP of a Fortune 500 firm in Massachusetts in their M&A department. This company made over a dozen acquisitions of small and midsized firms last year, and plan to make similar strides this year. I'd be doing a lot of research into potential acquisition candidates, as well as some valuation and also due diligence.
I guess what I'm asking is whether or not this is a worthwhile internship. Obviously it's not the same as getting one with a BB, but this is a Fortune 500 company and I'd be learning about a lot M&A stuff that you will learn with a BB. Is this comparable/better/worse than getting an internship with a boutique?
FWIW, I'm currently a junior at a relatively small liberal arts school in New England. I've got a high GPA (3.8+) but am lacking on some of the extracurriculars, as well as experience in i-banking. Working from the corporate side is not i-banking, but it deals with a lot of the same stuff, so that's what's got me interested in it.
Any info/insight/suggestions appreciated.
Based on what you've said, it sounds like a great opportunity. That kind of experience would probably help you in getting a full time offer at a BB next year if that's what you really want.
Definitely want a shot with a BB in M&A. Got relatively far in the process with Lehman and had a shot at UBS, but neither panned out. Tried a few Boston boutiques (Cowen, Jefferies), and almost had one with Jefferies, but they took a Harvard kid who was lingering on a response until they told him they had me as a backup if he decided to ignore them any longer.
My school is kind of known as a party school but it has improving SATs and acceptance rates each year since I've been here. Not many kids look at or go into IBD where I go, but I'd love to change that.
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