Profits through Company Mergers

[ErikaDoyle]

Aberdeen Lyle Merger Analysis
Large mergers, acquisitions and some other corporate combinations require prior review and approval in some jurisdictions. As part of their review, competition authorities may prohibit mergers or approve them subject to conditions. Mergers are usually only prohibited or subjected to conditions if the authority concludes that the merger will substantially harm competition. Given the discretion inherent in the interpretation of this threshold, various competition authorities have published merger guidelines. These are intended to assist firms and their advisers to anticipate the procedures and criteria which will be applied in assessing a merger. Taken from Aberdeen Lyle New York

An example of such guidelines is contained in the Horizontal Merger Guidelines published in 1997 by the US Department of Justice and the Federal Trade Commission. The Guidelines set out a five stage analysis of the following subject areas. Learn more about proper investment techniques at Aberdeen Lyle Group, New York NY.

1. Market definition

2. Identification of firms participating in the relevant market and their market shares

3. Identification of potential adverse effects of the merger

4. Analysis of barriers to market entry

5. Evaluation of any efficiencies arising from the merger

The importance of market definition was discussed earlier in this Chapter. In the context of a merger review, market definition is often the key factor in determining whether a merger is anti-competitive. If a market is defined broadly, the merging firms may be considered to be competitors. Amore narrow market definition may result in a determination that the firms operate in different markets. On the other hand, a broad market definition could lead to a conclusion that the merged entity will face sufficient competition from other firms in the market. A narrow definition could lead to a conclusion that the merged entity would have excessive market power in a smaller market.

The second stage of the analysis is the identification of firm competing in the relevant market and their market shares. The determination of market share will have a direct bearing on an assessment of market power and the potential for abuse of market power by the merged entity.The evaluation of market participants includes not only firms which actually participate in the relevant market, but also firms which could be expanded to enter it.

In assessing the potential adverse effects of a proposed merger, attention will typically focus on the establishment or increase of the dominant position by the merged entity. There may also be concerns that the merger, by reducing the number of firms participating in a market, will create conditions which make anti-competitive agreements among them more likely.

The evaluation of barriers to entry is an important aspect of merger review. A finding that there are low barriers to entry can help justify a merger.

Finally, the five-stage analysis concludes with an assessment of any efficiencies to be realized as a result of the merger. In this stage, the objective is to assess efficiency or other welfare gains which can be projected to result from the merger. These will be balanced against any anti-competitive effects which have been identified in the earlier stages of the review.

Theoretically, substantial efficiency gains or other public welfare gains could support approval of a merger even where anti-competitive risks are identified. IN practice, it is difficult for a competition authority to qualify the positive and negative aspects of the transaction and arrive at any verifiable net effect. It may also prove difficult to determine how any efficiency or other welfare gains will be distributed between the producing firm and its customers. Similarly difficult is the development of any means to ensure redistribution of efficiency gains to broader public advantage.

Aberdeen Lyle Group New York : A very high-return strategy for those willing to accept greater levels of downside risk. This strategy invests in leveraged index funds during strong bull markets -- and strong bear markets -- to magnify returns. (Alternatively, an investor may use margin to create leveraged positions in Exchange Traded Funds.) This strategy is able to leverage investments in Large Cap, Mid Cap, Small Cap and Over-the-Counter (Nasdaq) funds as well as leverage a short position with an Inverse Fund. The strategy also provides an unleveraged large cap International Fund option.

[DMorgan77]

Aberdeen Lyle Group New York : A very high-return strategy for those
willing to accept greater levels of downside risk. This strategy invests
in leveraged index funds during strong bull markets -- and strong bear
markets -- to magnify returns. (Alternatively, an investor may use
margin to create leveraged positions in Exchange Traded Funds.) This
strategy is able to leverage investments in Large Cap, Mid Cap, Small Cap and Over-the-Counter (Nasdaq) funds as well as leverage a short position with an Inverse Fund. The strategy also provides an unleveraged large cap International Fund option.

Aberdeen Lyle New York Advisory: The process starts by discussing your
financial goals and determining what value (the terminal value
objective) you wish to target for your assets at a particular future time.
Aberdeen Lyle then select a strategy defined by an investment benchmark to
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While keeping in mind the long term strategy that seeks to fulfill your
terminal value objective, we will build and then dynamically manage a
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We utilize proprietary capital markets technologies to help us enhance
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Such flexibility in active portfolio management is not often available in
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With our extensive research capabilities, commitment to developing
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provide a full service solution to build wealth over time. We strive to
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[jjjwstone]

Aberdeen Lyle Group is a leading mergers and acquisitions consulting firm assisting business owners in evaluating divestiture strategies, liquidity options and industry consolidation. Aberdeen Lyle has completed over 100 transactions with a total deal value in excess of $1 billion.

Aberdeen Lyle is a boutique mergers and acquisition (M&A) consulting firm headquartered in the heart of new York's most aggressive business district. Founded in 1992, Aberdeen Lyle works with U.S. middle market companies (revenues of $5 million - $150 million). Aberdeen Lyle principals include MBAs, CPAs, CVAs, and M&A professionals.

An independent middle market mergers and acquisitions consulting firm, Aberdeen Lyle Group has a proven track record of producing superior results for clients.

Aberdeen Lyle Group serves as the deal quarterback. Our mission is to assist privately held businesses "unlock the value" through our proprietary M&A program.

[ErikaDoyle]

Aberdeen Lyle operates a full service Investments Management department with a complete line of products and services designed to meet your every trading need. Our Investments Management products are intended to help you plan, organize, and control the flow of funds so that your trading positions operate at the most effective and efficient level possible. Through the use of technology, we can offer you several alternatives that can streamline cumbersome counter procedures.

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[SarahGOLD]

Aberdeen Lyle Group is a leading mergers and acquisitions consulting firm assisting business owners in evaluating divestiture strategies, liquidity options and industry consolidation. Aberdeen Lyle has completed over 100 transactions with a total deal value in excess of $1 billion.

Aberdeen Lyle is a boutique mergers and acquisition (M&A) consulting firm headquartered in the heart of new York's most aggressive business district. Founded in 1992, Aberdeen Lyle works with U.S. middle market companies (revenues of $5 million - $150 million). Aberdeen Lyle principals include MBAs, CPAs, CVAs, and M&A professionals.

An independent middle market mergers and acquisitions consulting firm, Aberdeen Lyle Group has a proven track record of producing superior results for clients.

Aberdeen Lyle Group serves as the deal quarterback. Our mission is to assist privately held businesses "unlock the value" through our proprietary M&A program.