Gods at War: Shotgun Takeovers, Government by Deal, and the Private Equity Implosion
While the financial community looks to regain its footing, dealmakers will continue to do what they've always done—structure deals that drive the fate of corporate America. With powerful professionals competing to create and close better deals, these executives, like gods, will determine the future of companies and our economy.Author Steven Davidoff understands both the intricacies of these deals and the forces driving them. Writing as "The Deal Professor" for theNew York Times"DealBook," he provides daily commentary on the latest takeover news and has become a nationally known authority on this fast-moving field. Now, withGods at War, Davidoff introduces you to this trillion-dollar business—from private equity and government to hedge funds and sovereign wealth funds—and reveals the recent events that have changed the way the game is played.Gods at Waris the definitive story of deal-making. Opening with an engaging look at the evolution of this discipline, the book quickly moves into the modern era—where deal-making has become a truly global endeavor—and works its way through the current financial crisis and beyond. Page by page, it skillfully details:The private equity boom and its implosionThe return of the strategic transaction and hostile takeoverThe failure of the investment banking modelThe government's deal-making during the recent financial crisisAnd much moreEach chapter unfolds through the lens of recent events, from the battle between Yahoo! and Microsoft to the United Rentals/Cerberus dispute. Along the way, you'll also become familiar with the federal government's regulation by deal approach to saving the financial system—which included the serial bailouts of AIG, Bank of America, Citigroup, and others. In describing the dynamic events of this period, Davidoff not only reveals how deals are accomplished in modern capital markets, but he also details the transformation that the takeover marketplace is undergoing and its prospects for the future. In doing so, he puts forth a definitive view and theory of deals and deal-making.The financial revolution, globalization, and financial crises have permanently changed deal-making—creating perils and opportunities for both dealmakers and regulators. WithGods at Waras your guide, you'll gain a better understanding of this discipline and discover the various events, individuals, and institutions that continue to shape this competitive arena.--This text refers to theHardcoveredition.