Aquisitions, joint ventures and strategic alliances

Growth by acquisition has been and will continue to be an attractive option for ambitious businesses. However, it is important to balance the anticipated rewards of such a transaction against the potential risks.

KPMG Corporate Finance's role is to provide practical transaction management throughout the process, often starting by helping a company to define its strategy and establish realistic objectives and acquisition criteria.

KPMG Corporate Finance's involvement can include:

• researching and identifying key targets both locally and internationally through the KPMG organization and adviser databases;
  
• appraisal of the target's strengths and weaknesses and the preparation of a preliminary assessment;
  
• handling the initial approach and discussions, in conjunction with the client;
  
• formulating a structured offer that takes account of critical factors, such as price, payment considerations, continuity of employment and capital investment needs, together with such issues as tax structure and pension funding;
  
• giving objective advice on raising the necessary finance using detailed knowledge of the major financial institutions;
  
• management of the due diligence process, performed by independent teams, through to completion.

KPMG Corporate Finance's vast experience in acquisition transactions support the successful completion of the deal and then the resources to assist with the smooth post-acquisition combining of business cultures, systems and operations, appropriate utilization of human resources and long-term business planning.