Mergers & Acquisitions For Dummies Paperback – August 31, 2018

"Mergers & Acquisitions For Dummies" is a tremendously well-written book that both M&A rookies and seasoned dealmakers would find useful. It covers the very basics, such as the difference between a merger and an acquisition, as well as the nuanced details of a transaction, including the LOI and purchase agreement. The author's deep expertise comes through at various times in the book, as he sprinkles in hints and tips based on his own experience to go along with the basic factual information. You feel like the author is pulling you aside at the negotiation table and whispering in your ear. For example, in Chapter 12, he discusses valuation ranges, expressing that while you can do a lot of work trying to value a company, most sell for 4x-6x EBITDA, and that while it is possible for a business to sell outside of that range, it is not customary, at least not for a middle market transaction. He also offers some helpful commentary on digging around for potential sellers (including some scripts that he has found to be useful in cold calling), and his thoughts on wealth advisors (the dirty secret is that most of the work at the larger firms is done by junior people with little to no experience). While the book is intended to be used as a reference book, where the reader flips to an applicable chapter and reads just that part of the book, I found it to be an interesting read from start to finish. The author's writing style is engaging and light, and he gives plenty of details, but doesn't overwhelm the reader with them. One thing I would note is that a good portion of the book was written from the perspective of an existing business owner looking to make an acquisition or sell his/her business. These parts are not necessarily targeted at the individual or family looking to buy a small business (e.g., restaurant), though much of the information would certainly still be applicable and isn't a reason for individuals/families not to buy the book. Overall, the author does a fine job summarizing a topic that could fill 10 similarly-sized books, and frankly it's one of the best books on this topic that's out there. Business owners would be wise to give it a thorough read before embarking on any significant dealmaking (either buying or selling).

I also read it several times after the initial agreement with the eventual buyer. I found it extremely helpful, easy-to-understand, and packed full of useful checklists and suggestions. I have recommended it to several friends with small businesses including members of my Vistage group (Vistage is an organization of business owners who get together once a month or so to help with each other's issues). The advice was practical and still helpful to me now even though it has been six months since we inked the deal.

As a beginner to the M&A field this book was exactly what I needed. It provides an overview for every step in the process, while providing enough detail to point you in the right direction. It was well laid out with a clear outline of the step by step M&A process which was exactly what a beginner who is unfamiliar with the process needs.

This book is really well written and does a fantastic job of walking the reader through the various aspects of M&A. While it does a great job illustrating the terms and concepts, the author also does a nice job adding some tips and practical advice along the way. This is a must read for people dealing with M&A.

While I am not a big fan of the "Dummies" books, this is a book I highly recommend. I have read most of the M&A books available and this stands head and shoulders above them all. The author, a M&A professional, covers many important topics that others pass over e.g., how to contact possible buyers and provides scripts to overcome objections. It is easy to read and loaded with examples.Dr. Stephen Webb

My husband does several mergers and acquisitions. Although he is very knowledgeable and has been involved in several businesses and types of businesses, he still read this book and suggested that I read it also. It is very simplified, especially for a person without lots of knowledge in this business. I am graduating from law school, and after reading this book and a few others, I realized I want to play with some of this too.

If you have really NO idea of what M&A is, or even some kind of related bussiness it is a good book, but if you are somewhere in the Industry, you'll get bored.

I was thinking about attending a future QLA seminar with Dan Pena, but then I thought that maybe I could save myself about 20 thousand English pounds by reading a Dummies Guide on Mergers and Acquisitions, instead. I read the first chapter, and realized that M&A is a very complicated thing, something I am not likely equipped to do, intellect and abilities wise.