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Mergers and Acquisitions Explained: A Crash Course on M&A 

Brett Cenkus
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#mergersandacquisitions #corporatelaw #business
Mergers & Acquisitions (commonly referred to as M&A) is often considered a fast-paced, exciting niche of corporate law. And, it is. Brett loves the work he does and his role in M&A deals. So, this video addresses a lot of common questions regarding M&A.
We'll take a look at what M&A is, types of deal structures, the key players, the motivations for performing a merger or acquisition, and what deals looks like at different levels of the market.
Here's a quick rundown in case you want to jump ahead:
0:44 - What is M&A generally
01:04 - Asset Sales, Stock Sales and Mergers
04:28 - Why do Sellers Sell a Business?
05:19 - Why do Buyers Buy a Business?
06:40 - Who's Involved in the M&A Process?
06:42 - Investment Brokers and Investment Bankers
09:23 - Corporate Lawyers
10:47 - Business Appraisers, Accountants & Consultants
So, take a look and let us know what you think!
_____________________________________________
Have questions? Book a call, and talk to Brett today:
clarity.fm/brettcenkus
_______________________________________________
You can reach Brett through:
clarity.fm/brettcenkus
/ brettcenkus
/ bcenkus
www.cenkuslaw.com
braatenwoods.com
merger-resources.com
_______________________________________________
Brett A. Cenkus has 20+ years of experience in business law, finance, and entrepreneurship. Through Cenkus Law, PC, he provides advice and services for mergers & acquisitions (M&A), securities offerings, founders’ agreements, and other general business law issues.
Through Braaten Woods, LLC, Brett helps business owners in the lower middle market ($2MM - $25MM) position themselves for sale, find buyers, negotiate, and close M&A deals.
Brett also maintains merger-resources.com, a site packed with free articles, videos, checklists, deal diagrams, template contracts, and other tools to help pass M&A knowledge to others.
Brett regularly consults with entrepreneurs and invests his own capital as an angel investor.
From 2010-2013, Brett served as Chief Legal Counsel of a publicly-traded international oilfield services company. From 2001 to 2006, he and a partner founded and built Paragon Residential Mortgage. Bridge Investments acquired Paragon in 2006.
Brett holds a Juris Doctorate from Harvard Law School and a Bachelor of Arts degree in Economics from Messiah College in Grantham, Pennsylvania.
Brett lives in Austin with his wife, Cathryn, and two children. He enjoys reading, squash, classic movies, great food and wine, and the New England Patriots.

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10 июл 2024

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Комментарии : 373   
@Jejdjejbfjf
@Jejdjejbfjf 5 лет назад
I love the way you speak about your job and this profession. It seems you take pride in this and are genuinely interested. Yeah this job is tough but I'm glad there are lawyers like you. And thanks for sharing!
@jamesl9040
@jamesl9040 4 года назад
Yes! He's so inspiring and enjoyable to watch.
@patbri03
@patbri03 3 года назад
I AGREE!! Love to see more people talk about what they love especially in business
@BrettCenkus
@BrettCenkus 2 года назад
Thank you for such positive feedback!
@Knockknock12348
@Knockknock12348 3 года назад
Knowledge gained from your 13 minutes video > my 3-month M&A internship. Thank you for the quality content!
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome, Seyma!
@jiggs8073
@jiggs8073 2 года назад
...how is that possible
@akmuneer4661
@akmuneer4661 Год назад
hello dear can you help me in finding merged and acquired companies list I am in need of it. Thanks
@bishoyhanna3949
@bishoyhanna3949 8 месяцев назад
Where the hell did you work 😂😂
@declassifiedcia6075
@declassifiedcia6075 8 месяцев назад
The Krusty Krab@@bishoyhanna3949
@mattvanryn
@mattvanryn 4 года назад
Well done. That was a good solid introduction to what M&A is. Great job.
@alexrondon1862
@alexrondon1862 2 года назад
Can a person not understand his clarity, and thoroughness. Very great presentation!
@BrettCenkus
@BrettCenkus 2 года назад
Thank you, Alex!
@DarianSandmartin
@DarianSandmartin 5 лет назад
Thank you so much for the explanation! You're fresh and smart, pleasure to watch!
@BrettCenkus
@BrettCenkus 5 лет назад
you're welcome and thank you for the positive feedback!
@esotericguard3808
@esotericguard3808 4 года назад
She want some of them M's 💲💲💲💲💲
@zacharymuniz3018
@zacharymuniz3018 3 года назад
I thought this is on murders and executions.
@BrettCenkus
@BrettCenkus 2 года назад
An understandable mistake!
@lalgerielibre9519
@lalgerielibre9519 Год назад
😂😂
@abdullahgazder
@abdullahgazder Год назад
😂
@HouseDarten
@HouseDarten 11 месяцев назад
Ahahah
@melaninmeditations
@melaninmeditations 7 месяцев назад
😂😂😂
@RossCampoli
@RossCampoli 3 года назад
I am HOOKED, oh man what a great video series. So happy to find your channel, Brett!
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome, Ross - glad you are enjoying the channel!
@tushartyagi710
@tushartyagi710 3 года назад
Killed it! I saw the complete video and read all the comments and your detailed response to most of them. I must say it would be a priviledge for your clients and the people who work with you with such a clear guidance. The detailed responses were very informative and worthy. I personally learnt a lot. Kudos from India!
@BrettCenkus
@BrettCenkus 3 года назад
Thank you, Tushar!
@rosemondphil
@rosemondphil 4 года назад
Just transitioning into a corporate and commercial legal counsel/secretary. I am glad I found this Chanel.
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Rosemond!
@arselagega6402
@arselagega6402 3 года назад
You are so clear at the explanation of this topic! Thank you very much for making me understand it!
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome, Arsela!
@syafiqpoulsen6374
@syafiqpoulsen6374 5 лет назад
Love the way this guy talks
@danielehambe9198
@danielehambe9198 5 лет назад
This is amazing! I have always been interested in mergers & acquisitions, basically business law. Great video!
@BrettCenkus
@BrettCenkus 5 лет назад
thank you, Daniel! Glad you enjoyed it.
@blackchain1900
@blackchain1900 4 года назад
@@BrettCenkus I have a question. If you were getting into M&A today, what are the industries you would recommend. Thanks. Great vid.
@galoreweezing5224
@galoreweezing5224 5 лет назад
Perfect video. The best explanation of M&A on the web.
@BrettCenkus
@BrettCenkus 5 лет назад
thank you for the feedback!
@gudyk919
@gudyk919 4 года назад
a great chunk of thanks for sharing and explaining the business matters, highly appreciated
@BrettCenkus
@BrettCenkus 4 года назад
you're welcome!
@andrecaptures
@andrecaptures 4 года назад
Solid explanation about Mergers and Acquisitions. I've always been interested in m&a and business law in general. Great video!
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Andre!
@robschneider8310
@robschneider8310 4 года назад
As other people have mentioned, I love the way you talk about your job. Thanks for sharing your knowledge.
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Arnaud
@isaacmwafrika
@isaacmwafrika 3 года назад
Impressive. Pretty a rookie on this! I just didn't know about M&A but your explanation is a mark of a guru. Well done Sir, that to me is a truly definition of the state of the art! Looking forward for brighter business days ahead
@BrettCenkus
@BrettCenkus 3 года назад
Thank you, Isaac!
@desiaclementslewis8318
@desiaclementslewis8318 2 года назад
Thank you for the clear explanation. Well, put.
@siddhantroychowdhury7234
@siddhantroychowdhury7234 4 года назад
I feel thankful to have found your channel.
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Siddhant!
@larissaaltafim6816
@larissaaltafim6816 Год назад
You seem so kind and genuine. Also I love how you explain things! Thank you so much for this! I worked in the legal sector for a long time but I am only now thinking about becoming an M&A lawyer! thank you :)
@BrettCenkus
@BrettCenkus Год назад
You're welcome!
@BrettCenkus
@BrettCenkus Год назад
You're welcome, Larissa!
@VAMedia-mv8go
@VAMedia-mv8go 4 года назад
Finally some sweet M&A content. Big up Brett
@BrettCenkus
@BrettCenkus 4 года назад
thank you!
@Kharmicreoccurance369
@Kharmicreoccurance369 2 года назад
Very clean speaker. So easy to understand. Great video
@BrettCenkus
@BrettCenkus 2 года назад
Thank you, Gavin!
@audiobooksmore3374
@audiobooksmore3374 Год назад
Great video - very well explained! Thanks for posting!
@Sabasoot
@Sabasoot 4 года назад
Thank you for the time and effort you put to share this knowledge. Very helpful
@BrettCenkus
@BrettCenkus 4 года назад
you're welcome, Ehab
@hashemeshanouq7351
@hashemeshanouq7351 5 лет назад
Nice to know you and well presentable materials. THANKS!
@BrettCenkus
@BrettCenkus 5 лет назад
thank you, Hashem!
@mcmoodoo
@mcmoodoo 2 года назад
Hey Brett, thanks for such a clear explanation. I learned a lot!!!!
@BrettCenkus
@BrettCenkus 2 года назад
You're welcome, Rashid. Thank you for letting me know the video was helpful to you!
@propertyprotocol9699
@propertyprotocol9699 2 года назад
Appreciate your crash course. Loved your simply stated approach.
@BrettCenkus
@BrettCenkus 2 года назад
Thank you!
@sathiyanpalani3380
@sathiyanpalani3380 3 года назад
Thanks for providing overall idea about M&A.
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome, Sathiyan.
@RemiGlobal_
@RemiGlobal_ 4 года назад
Very helpful/educative information. Thanks for sharing!
@BrettCenkus
@BrettCenkus 4 года назад
you're welcome!
@gabrielsarmento2181
@gabrielsarmento2181 6 лет назад
Great video, Brett!
@Sunny-uf5nd
@Sunny-uf5nd 3 года назад
Man! Thank you for this video. So valuable
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome, Carlo!
@jamescollins2638
@jamescollins2638 2 года назад
I wish you would start making videos again. These are great.
@alanker1
@alanker1 5 лет назад
Great video Brett. I am wrapping up my grad school in Finance and looking to join M&A. These videos are very helpful. Thank you !
@BrettCenkus
@BrettCenkus 5 лет назад
you're welcome, Ibrahim. Are you graduating in December? Good luck down the final stretch!
@aaronhill_official
@aaronhill_official Месяц назад
Awesome video Brett, loved watching this 🙏
@BrettCenkus
@BrettCenkus Месяц назад
Thank you, Aaron
@TravelChannelOne
@TravelChannelOne 5 лет назад
This is gold. I would have to pay for this in my state over a consultation
@BrettCenkus
@BrettCenkus 5 лет назад
thank you!
@angelica4770
@angelica4770 4 года назад
I'm studying BA, not sure what master can get into M&A so here I come to learn what is M&A job duties. This is really helpful and insider knowledge. Thanks, Brett!
@BrettCenkus
@BrettCenkus 4 года назад
you're welcome, Zazie!
@gconsulting5648
@gconsulting5648 5 лет назад
Excellent presentation
@magdalenawidlak6568
@magdalenawidlak6568 3 года назад
Pleasure to watch, thank you Sir
@BrettCenkus
@BrettCenkus 3 года назад
Glad you enjoyed it!
@allnone4277
@allnone4277 2 года назад
Thank you so much great video 🙌
@PrincessButtercup263
@PrincessButtercup263 Год назад
Corporate paralegal here, thanks for the video! I’ve found: always look for liabilities in restricted stock units to employees or consultants the seller has retained.
@glizzforman8094
@glizzforman8094 9 месяцев назад
Where did you start to get that job?
@carlosc.1568
@carlosc.1568 6 лет назад
Nice video Brett!
@jadad1010
@jadad1010 2 года назад
Amazing description
@randibray5421
@randibray5421 2 года назад
Thanks for sharing!!!
@banupriyamunusamy2536
@banupriyamunusamy2536 2 года назад
It was a nice outlook about the overall topic..
@arthurpapikyan4283
@arthurpapikyan4283 4 года назад
Thank you very much, Mr Cenkus. Very informative presentation. I have a question - do investment banks help their clients identify and find potential acquisition targets? I give you an example of what I mean - let's say I have a commercial bank and I want to expand its operations by acquiring other banks. Can I instruct my investment banker to find all the commercial banks which fit the criteria laid out by me (e.g., size of the assets, geographical location, number of branches,etc), then approach their owners and start negotiating the acquisition?
@Vandell33
@Vandell33 5 лет назад
Very informative! Thank you
@BrettCenkus
@BrettCenkus 5 лет назад
you're welcome
@brendonlandis3932
@brendonlandis3932 2 года назад
This is a great video, I’m trying to get into the focus of M&A. If you have any recommendations please share!
@roadtrippinwithkyle8521
@roadtrippinwithkyle8521 2 года назад
Thank you - helpful video
@rickiw6491
@rickiw6491 4 года назад
Awesome video Brett!
@BrettCenkus
@BrettCenkus 4 года назад
Thanks!
@HouseDarten
@HouseDarten 11 месяцев назад
Thank you Brett !
@BrettCenkus
@BrettCenkus 11 месяцев назад
You're welcome!
@MrPFMneto
@MrPFMneto 7 месяцев назад
Thank you!! It was very helpful
@BrettCenkus
@BrettCenkus 7 месяцев назад
You're welcome
@cowboydelnorte3078
@cowboydelnorte3078 10 месяцев назад
I'm wanting to like this twice
@jodybruce5097
@jodybruce5097 2 года назад
Great video thank you.
@madhavvinod6500
@madhavvinod6500 2 года назад
Thank you sir!
@1La2La3La4La
@1La2La3La4La 2 года назад
Hello Brett, loved your informative videos. Many thanks for sharing. Greetings from Germany, Soreb PS: Channel subscribed glaldy!
@lifeisajourney486
@lifeisajourney486 5 лет назад
Thanks for useful information :) nice video
@BrettCenkus
@BrettCenkus 5 лет назад
you're welcome. Glad the info was helpful!
@cenchen6675
@cenchen6675 3 года назад
very helpful video, thanks
@BrettCenkus
@BrettCenkus 3 года назад
You're welcome!
@meach67
@meach67 4 года назад
Great learning! thanks
@BrettCenkus
@BrettCenkus 4 года назад
My pleasure!
@richardmachuma4475
@richardmachuma4475 4 года назад
Outstanding! good job
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Richard!
@dcrump
@dcrump 5 лет назад
Thank you... enjoyed the great content
@BrettCenkus
@BrettCenkus 5 лет назад
you're welcome. Thank you for the feedback.
@tylereiland539
@tylereiland539 11 месяцев назад
Great content my man!
@BrettCenkus
@BrettCenkus 10 месяцев назад
Appreciate it!
@francisngumbi6793
@francisngumbi6793 2 года назад
Quite informative ,thanks Britt
@BrettCenkus
@BrettCenkus 2 года назад
You're welcome, Francis!
@John27477
@John27477 10 месяцев назад
Thank you Brett Cenkus, for the magnitude of value you share with us. I have a question, if you could shed some light: How could a potential buyer incentivize a broker to “recommend” 100% seller finance to the seller? Thanks in advance.
@named161
@named161 4 года назад
Your channel is Awesome!!!!!
@BrettCenkus
@BrettCenkus 4 года назад
thank you!
@41mas
@41mas 4 года назад
Very informative! Thank you for your video. I was asked to be part of a team. I did a little research about the company and it deals with business acquisitions, an area I don't have any knowledge about. Again thank you for your video, it made me realize this career isn't for me. I admit you know your stuff!
@BrettCenkus
@BrettCenkus 4 года назад
thank you for the feedback. I'm glad the video helped you make a clear decision (even if it means the M&A profession lost you!)
@zachatck64
@zachatck64 4 года назад
I don't know why, but even at 14 (soon to be 15) I'm interested in mergers, assets and acquisitions. Thanks for the information! : )
@BrettCenkus
@BrettCenkus 4 года назад
You're welcome
@glizzforman8094
@glizzforman8094 9 месяцев назад
Are you still learning about it?
@zachatck64
@zachatck64 9 месяцев назад
@@glizzforman8094 At 18 yeah probably
@YouTubeNavigator767
@YouTubeNavigator767 4 года назад
Considering going back to school for either accounting/finance BA or Law School for Transactions/Real Estate/and Tax Law. I wanted to ask if you have any recommendations for law school, the profession and learning how to prepare these documents or resources to learn this material? Is there any information you can provide with a day in the life as well? Thanks
@Quinten__
@Quinten__ 6 месяцев назад
New subscriber here! Love your channel and the insight you give to viewers. I do have a quick question for you regarding your education. I noticed you stated you graduated from Harvard. In your opinion with the exorbitant cost of say a T20 school... Would you take on the debt? or If you can self pay and receive scholarships to a lower ranked state school (ranked 50-75) would you go that route? Thanks for your time!
@zuggrr
@zuggrr 3 года назад
Great Value ! thanks
@BrettCenkus
@BrettCenkus 3 года назад
Thank you, Mathis!
@q-revdigitalmarketingdatas4563
@q-revdigitalmarketingdatas4563 4 года назад
Great video
@BrettCenkus
@BrettCenkus 4 года назад
thank you, Tim
@alexanderyarizadeh1387
@alexanderyarizadeh1387 4 года назад
Great!
@janedoe1180
@janedoe1180 9 месяцев назад
Hi. Is it normal to ask employees, directors etc. To sign an undertaking whereby they are prohibited from buying buying shares of a listed company for a certain time period until the deal goes public? At what point do I ask for such undertaking? At the due diligence stage or at the initial offer stage?
@JFCotman
@JFCotman 3 года назад
@2:38 is interesting. Wondering why people say consultants charge more for a merger, when it seems we can do it ourselves. What exactly are they charging so much for?
@omarijohnson822
@omarijohnson822 4 года назад
Great vid
@BrettCenkus
@BrettCenkus 4 года назад
thank you!
@ralphwebster8318
@ralphwebster8318 Год назад
Good stuff
@lykaaberquino4313
@lykaaberquino4313 3 года назад
Hey! Im just one to ask how can I analyzation of the impact of coronavirus crisis on merger and acquisition?
@sanb481
@sanb481 4 года назад
learnt all this from louis litt
@SebiScoot
@SebiScoot 2 года назад
very good video :D you seem to like the big tech companies :D
@ellensullivan2196
@ellensullivan2196 3 года назад
is there an effective way to research mergers, as in articles of combination between one company taking over another. So if you think in terms of banking and financing. Banks buying other banks?
@malikosama3461
@malikosama3461 3 года назад
You are working with a client as a Chief Technology Officer, and you have produced a graph to help your client understand how each of the investment accounts will behave over time. Write your client a report outlining an investment forecast and recommending in which type of account they should invest. In your report, to support your claims you should use comparisons of the data and an explanation of the chart trendlines on the next tab. Address whether the client is looking to invest short term (five years or less) or long term (longer than five years). Which of the chart types on the following Excel page, titled “Chart Types” will be most useful for supporting your recommendations? Why? can you answer that question please?
@krisztiandora97
@krisztiandora97 3 года назад
Thanks for this video. I would like to ask for your advice. I got into a difficult situation and have no experience with it. Topic: What happens to the money of small investors in the event of a SPAC merger failure. -What is happened if a SPAC Merger fails? SPAC Company, THUNDER BRIDGE ACQUISITION II, LTD - announced its intention to merge with INDIE SEMICONDUCTOR last year (2020) to bring it listed on NASDAQ stock exchange in 2021 first quarter. But an investigation has been launched against the blank check company, saying that "the shareholders have not been properly informed and small investors will have little stake in the formed, new company. After the merger". > 1.If the merger fails, what happens? Small investors lose their invested capital either return to a low share price and "their invested capital get stuck in this SPAC, "blank check company" ?, I do not understand why an investigation is launced against SPAC with the reason that small private investors can only have wenig stake (prozent) in new company after the Merger because the small investors do not think rhey could more have in it, for them is not point, they are not interesed in how much prozent they can have in a very big company. The ones who are "big companies" like financial companies, funds want to have more in a SPAC, but not private small investors. > 2. What should I do in this case if the stock price has already dropped so much that it is lower than the average of my buying price? Thanks for help, answers,
@harryhua2864
@harryhua2864 4 года назад
Thanks very much
@BrettCenkus
@BrettCenkus 4 года назад
You're welcome
@tegaogheneovo5881
@tegaogheneovo5881 2 года назад
Thank you😄
@BrettCenkus
@BrettCenkus 2 года назад
You're welcome 😊
@troybernal5085
@troybernal5085 5 лет назад
Interesting stuff! Did you start off in business school and then make the switch into law?
@BrettCenkus
@BrettCenkus 5 лет назад
Troy, I haven't gone to b-school (although my undergrad work was in Economics, so that's in the ballpark). When I was applying to grad schools in 1995, there was a zero chance any quality business school would take me from Messiah College and with one year of experience in the business world (probably not very likely today either!) So, I went to law school, never really intending to be, or identifying as, a lawyer. I've always loved business. I love finance, strategy, entrepreneurship. I've read tons and tons of books, self-studied, analyzed businesses - those are the sorts of things/topics where I lose track of time easily. Over the years, I've come to enjoy and identify with my lawyer role more, although I still gravitate toward the business side of things -- why deals get done, the financials, the people issues, etc.
@dracobyronwayne
@dracobyronwayne 2 года назад
3rd question how to find understandable donations and resources to accept certain treaties being broken and misunderstanding situations due to out numbered and unable to have any way to protect your chosen allies and family lines.
@bluegrasskid4835
@bluegrasskid4835 3 года назад
Many corporate lawyers who want to leave their firm, go work for a client in its legal department. Where would an M&A attorney generally go? To a buyer they represented in the past or to an investment banker who has brokered many deals the law firm was involved with?
@philippgro4978
@philippgro4978 5 лет назад
Thank you so much Brett! I have an upcoming interview for an internship in Transaction Advisory Services - M&A with one of the BIG 4 this week and I wanted to ask to what extent their work is different from what you do. What advice can you give me for the interview itself regarding more theoretical questions? Thx again!
@BrettCenkus
@BrettCenkus 5 лет назад
Philipp, I'm a bit behind circling back to your question and, because of that, I may have missed the opportunity to help you before your internship interview. Still, your question is a good one with broad relevance so I will answer it now anyway. Transaction advisory services at the Big 4 is similar to investment banking. Your job would be primarily a marketing and sales position with a heavy finance component. You would be more heavily involved in preparing a business for sale, marketing it, and negotiating the terms of a deal. You would also often play a key role in shepherding a deal toward closing -- a project management-type role. M&A lawyers get more heavily involved once the deal is struck (often once a letter of intent is signed) and their job is more about documenting and closing the deal than the strategic negotiation and structuring of the deal. It is sometimes different for me given my background on the M&A deal and finance side (non-law) side of thing, although clients don't typically look to their lawyer for guidance on the value of their business. They look to their lawyer for advice about the legal and tax ramifications of structuring an M&A deal one way vs. another (asset sale vs. stock sale vs. merger). That's probably the best way to put it -- transaction advisory services and investment banking is about pricing and marketing M&A deals and M&A law is about documenting and closing the deals. There is overlap, although there is still a distinct diving line somewhere in there.
@samuelholmes7845
@samuelholmes7845 4 года назад
Wow that was a great answer for me and I didn’t even ask the question
@silverback252
@silverback252 2 года назад
I watched your video (leaning) towards the 10 steps for the selling company. You mentioned the info might be used by the buyer also. A private buyer with intent to acquire a five million dollar company, how do the steps differ if at all? I live in the Caribbean region. Most laws here are similar to the US if not more lenient. How do I begin the process (contact said company) without negative response?
@ronsinger6971
@ronsinger6971 4 года назад
finance exam tomorrow - just looking for some qual stuff to talk about. pray for me.
@akmuneer4661
@akmuneer4661 Год назад
hello sir.I need mergers and aquisition companies list for my resarch. Where I can find this list?
@jonahbadiab9953
@jonahbadiab9953 Год назад
Hi Brett, I am a law school student with my 1st “big law” internship coming this summer. I am interested in transactional/M&A type of practice and wanted to know what I can do to prepare. Any book recommendations or any other tips would be super helpful! Thank you
@jacksonbuyungu9510
@jacksonbuyungu9510 9 месяцев назад
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@jacksonbuyungu9510
@jacksonbuyungu9510 9 месяцев назад
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@olufunmilolablossom2348
@olufunmilolablossom2348 3 года назад
Does dividend policy affect M & A. Thanks for d explanation
@elijahisaiahx920
@elijahisaiahx920 2 года назад
We have a deal on the table right now. Our shelf company (WY) is purchasing a company (MI) $$22.5M LBO, seller will take Note over three years. We will use this Company to ge Public to purchase two relate construction companies value at $70M each. Be nice to speak with you on these deals.
@caseyharrow8455
@caseyharrow8455 4 года назад
Hi Brett! Excellent video. This was very simple and helpful. I have an interest in M&A work. I was in the sports field but I am deciding whether to transition into corporate law or investment banking. Which path will give me more exposure to M&A deals? Any advice would be helpful as I make this transition. Thank you again for the video.
@BrettCenkus
@BrettCenkus 4 года назад
Casey, both paths can give you equal exposure, from a quantity standpoint, to M&A deals, assuming you're able to get into the M&A space in each field. My sense is that investment banking is a tougher path to get down. I think there are fewer investment bankers focusing on M&A than M&A lawyers. I may be wrong about that, although that's my sense based on experience and the limited data I've seen. I know there are more lawyers generally (a lot more lawyers than investment bankers), so the possibility of getting a job in some area of law and then moving into M&A seems like it offers more opportunity to break into M&A than going the IB route. Qualitatively, you'll see the deals from both angles (i.e., you'll get a bit of the other job and what they do), at least as you gain experience and move up the chain. In other words, the top M&A lawyers and top M&A investment bankers see a lot of each other's work. At the junior level, that is less true, because they have less time at the "table" (seeing the negotiations go down). And, even at the senior level, they aren't doing each other's work (naturally). So, the investment bankers will see a lot more of how the deal gets put together, priced, financed, sold and the lawyers will understand the intricacies of the deals are documented on paper. As a law student, I thought investment banking was a much more substantive (sexy) job. Now, I don't think that, although if I had to pick one, I'd say that investment banking gives you a bit more overall exposure to how M&A deals get done because of the focus on structure, price, and financing.
@JasonPaulRogers
@JasonPaulRogers 4 года назад
DIY legal for a 9m deal 😂 Watched two of your vids now. Really like your channel. We should connect. I make m&a videos from an acquisitions entrepreneur POV -Jason
@BrettCenkus
@BrettCenkus 4 года назад
yeah, crazy, right?! Happy to connect
@Invinciblevision
@Invinciblevision Год назад
Can you talk about what is needed to start an escrow account and submitting the escrow agreement to the bank?
@ericschumacher7507
@ericschumacher7507 4 года назад
Very informative video Brett. I was wondering how you conduct due diligence as a mid-level corporate law firm. Do you hire external researchers or task one or two of your contract lawyers to kick the tires? Thanks
@BrettCenkus
@BrettCenkus 4 года назад
Eric, we don't get too heavily involved in due diligence at my firm, mainly because our deals tend to be smaller (than when I worked for a big firm) and budgets are tighter. So, most of the due diligence is done by the company and they reach out to us as-needed (with questions on specific items, review of certain contracts for anti-assignment clauses, etc., but not for a full-on due diligence process). Sometimes we get more involved with sellers by helping them manage and prepare for the due diligence process, including setting up a data room and things like that. With all of this work, we handle it in-house (me or one of the other couple of other lawyers working with me). In big law, we did the work, as well, just more of it (more lawyers, more involvement in the due diligence process).
@MrBish435
@MrBish435 4 года назад
Hey Brett, I was wondering if you could summarise in a short clip; "Why mergers and acquisitions fail?" ?
@BrettCenkus
@BrettCenkus 4 года назад
Drake, I will create a video about that topic soon. It is a great one! Thank you for the suggestion.
@ChristopherK100
@ChristopherK100 2 месяца назад
Hello Brett, I have a Question, if a big company were to try to buy out a small company, without any notice, Would I in M&A, be working with that?
@Ben-xx1er
@Ben-xx1er Год назад
Thanks, great summary! Have to ask though, why the Elvis mugshot in the background?
@BrettCenkus
@BrettCenkus Год назад
That's one of about a dozen celebrity mugshots that were more tightly arranged in a wall collage until about a year ago when one fell down and a couple of others shifted, i.e., the project is falling apart, and I haven't decided to fix it or do something different. Jane Fonda, Kurt Cobain, Al Capone, Jim Morrison, Johnny Cash, and Frank Sinatra are some of the other featured celebs.
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