Divestitures: Creating Value Through Strategy, Structure, and Implementation

Today’s best-known expert on the topic shows business leaders how to dramatically increase corporate value through smart, strategic divestitures You've focused on mergers and acquisitions, but how much do you know about divestitures? Wharton Professor Emilie R. Feldman provides a comprehensive primer on what strategic objectives divestitures can achieve, which businesses divestitures typically involve, what divestiture structures companies can choose from, and how to implement divestitures to maximize their financial benefits. Divestitures are among the hottest transactional structures today. Divestitures: Creating Value Through Strategy, Structure, and Implementation shows executives, board members, transactional advisors, educators, and others how strategic divestitures can be used to enhance corporate value and performance. The book is organized into three sections: Strategy: Remove problems, improve focus, reconfigure the corporate portfolio, and address regulatory requirements Structure: Sales, spinoffs, equity carveouts, Reverse Morris Trusts, joint ventures, and tracking stocks Implementation: Separate the divested business, reconfigure internal processes, and reshape external perceptions This essential book fills major gaps in the professional and academic markets, providing the only available rigorous, research-based treatment of this important strategic tool.

About the Author

Emilie R. Feldman is the Michael L. Tarnopol Professor and Professor of Management at the Wharton School of the University of Pennsylvania. Her research focuses on corporate strategy and governance, with particular interests in the role that divestitures, spinoffs, and mergers and acquisitions play in corporate reconfiguration, the internal functioning of multi-business firms, and the impact that large shareholders have on strategic decision-making and outcomes. She has served as an external consultant, expert witness, and collaborator to some of the world’s largest law, accounting, and consulting firms, and to major corporations.