David Braun's Blog

Are You an Effective Negotiator?

Negotiation is a critical skill, especially in mergers and acquisitions where negotiating involves more than forcing the other party to agree to your terms. Experienced M&A negotiators understand the importance of the human factor. In acquisitions, negotiations are not about winning or losing, but bringing two sides to an agreement. This concept is extremely important […]

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Why ConAgra Plans to Sell Ralcorp Less than 3 Years Later

Packaged food company ConAgra Foods plans to divest its private label branch Ralcorp after acquiring it in 2012 for $5 billion. Why is ConAgra spinning off this private label business so quickly after acquisition? The many reasons include pressure from activist investors, poor performance, increased competition, and tighter margins. Ralcorp’s revenues dropped by 6 percent […]

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Strategic vs. Financial Acquisitions – What’s the difference?

I decided to answer a very basic, but important question about M&A, given that we often talk about strategic acquisitions. Q: What’s the difference between a financial and a strategic buyer? A: A financial buyer brings little inherent value to the transaction. Typically they bring capital and capital allocation knowledge, but usually no specific knowledge […]

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