Mergers and Acquisitions

We uncover and execute the right opportunities for you across all industry sectors, from acquisitions, divestitures through to raising finance.

A merger or acquisition can add considerable value to a business; however, making sure that each stage of the transaction process—from valuation to negotiation and completion—is successful demands considerable experience and knowledge.

Explore our Merger and Acquisition Services

Bid Support and Defence

We provide bid support services that help companies to make and defend hostile public bids.

If you are a bidder, we prepare hostile reviews on your own business and analysis of the vulnerability of the target.

For defenders, we work from the moment a hostile bid is announced to help defend or achieve the best price for your company. Our experience in defence situations enables us to help company management position themselves favourably to the markets during the bid.

We also carry out 'dummy' defence assignments for clients who feel exposed before a bid is announced. Many companies commission defence reviews as a routine board activity to help maintain an objective external view of their company.

  • You are looking to acquire a public target in the coming months;

  • You think that your company may be vulnerable - because of underperforming share indices, market criticism or the possibility that the company may be broken up;

  • Your company is announcing a restructuring, a change of strategy or an ambitious acquisition; and

  • Your company has problems with management succession.

Deal Sourcing, Execution and Planning

We advise companies, entrepreneurs and shareholders throughout the transaction process. Starting with deal origination, we work with you to understand your growth strategy and, using our sector expertise and international reach, we can help you to identify and assess potential acquisition and bolt-on targets. We coordinate other advisers' input and assist in negotiations through to completion.

 

  • You want rapid access to new markets, assets, technologies, personnel, intellectual property and sources of finance;
  • You want to restructure the asset base of businesses by disposing of underperforming assets / parts of the business;
  • You want to realise the value of your business;
  • You want to raise money for expansion; and
  • You want help with setting direction and business planning, which may result in an M&A transaction.

     

Sale and Purchase Agreement (SPA)

In any transaction, the Sale and Purchase Agreement (SPA) represents the outcome of key commercial and pricing negotiations. Purchasers and Sellers are becoming increasingly sophisticated in seeking to exploit the potential value to be gained through the negotiation and execution of the SPA.

Our team provides expert support at all stages of a transaction from pre-deal work through to post-completion support. Pre-deal, the team assists in the identification and articulation of value issues related to pricing and deal completion mechanics, to assist clients in their SPA negotiations; Post-deal, the team assists clients in protecting or generating value through the execution of any SPA completion mechanism.

  • You are contemplating the disposal of a business and wish to consider the relative merits of 'locked box' and other completion mechanisms in the context of your transaction;

  • You are making a disposal and wish to guard against price erosion by potential acquirers, both through the determination of consideration to be paid and through any post completion mechanism;

  • You are making an acquisition and wish to ensure that potential 'debt-like' items and other financial risks have been identified and appropriately addressed, either by way of a reduction in consideration, through a completion pricing mechanism within the SPA, or through warranties and indemnities; and

  • The transaction being contemplated includes a post completion pricing mechanism. You are seeking to position the SPA to your advantage and to minimise the opposing party's potential to manipulate price.

     

Contact us

Olivier Ma, ACA, CFA

Olivier Ma, ACA, CFA

Partner, PwC Mauritius

Tel: +230 404 5044

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