Corporate Financial Advisers
Accelerators of Company Growth
Executive Briefings
By Louise Broby
Financial Times / Pearson Education
December 2002
ISBN: 0-273-65641-4
162 Pages, 8 1/4" x 11 3/4"
$184.00 paper original
OUT OF PRINT
With the globalisation of business, the contribution of financial advisers has become one of the most essential ingredients for survival, development and growth. Companies are changing their narrow strategic thinking into a cross-border approach and are turning to financial advisers to lead them into untapped new areas that can pay dividends many times over.
Appointing the right corporate financial adviser is vital, yet time-pressured board directors may find it difficult to keep up with the changing nature of financial advice in a rapidly globalising world. This briefing will enable you to keep abreast of the latest strategic thinking and make the right appointment, gaining competitive advantage from the invaluable guidance that corporate financial advisers offer. It is illustrated with case studies of the major global financial advisers, accountants, international banks and multinationals.
The briefing: is an important guide for rapidly growing small- to medium-sized enterprises seeking to enhance their growth by Mergers & Acquisitions strategies analyses the opportunities arising from globalisation and highlight how the financial advisers can assist the multinationals in capitalising on the new trends focuses on the world's top financial advisers and their current and future strategies discusses the fee levels and cost structures of various financial advisers looks at the role of financial advisers in the developed and emerging regions of the world is a vital information source for any corporation planning an IPO looks at the implications of global investment trends and the role of the financial advisers in channelling corporate investment into profitable areas for multinational corporations highlights specific global strategies which may be recommended by financial advisers to the multinationals, such as offshore domiciles examines the financial advisers' role in advising multinationals on evolving strategies for dual or multiple listings in primary and secondary stock markets
Contents
In the Aftermath Executive Summary Introduction Corporate Financial Advisers
– Accelerators of Growth Creators of individual wealth A profile of Corporate
Financial Advisers The impact of globalisation Planning for the future Chapter
1 Selection of corporate financial advisers Overview Making the right choice
Expertise Sector-based expertise Reputation in the market-place Synergy with
the client company’s financial strategies M&A deal size Client deal Lead-manager/co-managers
Conflict of interest Products and services offered Access to capital markets
Globalisation of markets E-commerce strategies Fees Conclusion
Chapter 2 The Top League of Professional Advisers Overview League table –
corporate financial advisers League table – IPO Underwriters (US) Other professional
advisers: Accountancy Firms Law Firms US Law Firms Global M&A League Table
of brokers/advisers Financial PR/investor relations firms Conclusion
Chapter 3 Corporate Financial Advisers in the United States Overview Economic
Outlook Layoffs Global Reach Morgan Stanley Merrill Lynch Goldman Sachs Lehman
Brothers Magnitude of stock markets served by financial advisers Clients of
US financial institutions Conclusion
Chapter 4 Raising of Finance Overview Sources of finance Business Angels (early
stage financing, incubators) Venture Capital firms Mezzanine Banks Private
Equity funding Capital markets Primary markets Secondary markets Conclusion
Chapter 5 Listing on the Stock Exchange Overview Legal requirements for listing
Methods of listing Reasons for listing Appointment of financial advisers and
sponsors Phases in the flotation process Introduction Choosing a stock market
Check list for IPO candidates UK main markets (LSE, AIM) Entering the market
via a shell company Conclusion
Chapter 6 Private & public fund-raising– Documentation and Processes Overview
Business Plan Business Plan Checklist The Prospectus Prospectus contents Private
Placement Memorandum The Due Diligence Process Due Diligence Checklist Conclusion
Chapter 7 Transactional activities: the M&A market Overview Drivers of M&A
Information required for the M&A process The deal process Strategic deal planning
Deal execution Overseas targets Harvesting deals The City Code on Takeovers
and Mergers Recent M&A Activity Conclusion Mergers & Acquisitions Management
buyouts/buyins Divestitures/spin-offs
Chapter 8 Regulatory Issues Overview The Bank of England The Financial Services
Authority (The FSA) The FSA’s response to September 11th The FSA’s Guiding
Principles Regulatory – the USA Regulation in the European Union Main EU Financial
Services Directives Electronic Financial Services Conclusion
Chapter 9 Case Study – Close Brothers Overview Capital raising Acquisitions
Trade sales and disposals Corporate restructuring Debt Advice Group Performance
Business Environment Integrated Model of Advisory Services Steering clear
of the ipo.com bubble Business Strategy Long-term business model Structural
approach Technology Group Business Services Leisure and Retail Advanced Manufacturing
International Capabilities Competition International Expansion Local market
Orientation Strategic Alliance in the US Organisation Structure Deal Size
Main activities Fee structure Targeting the mid-market Marketing Website Conclusion
Chapter 10 Conclusion Summary of conclusions Overall Conclusion
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