I love the way you speak about your job and this profession. It seems you take pride in this and are genuinely interested. Yeah this job is tough but I'm glad there are lawyers like you. And thanks for sharing!
Killed it! I saw the complete video and read all the comments and your detailed response to most of them. I must say it would be a priviledge for your clients and the people who work with you with such a clear guidance. The detailed responses were very informative and worthy. I personally learnt a lot. Kudos from India!
Corporate paralegal here, thanks for the video! I’ve found: always look for liabilities in restricted stock units to employees or consultants the seller has retained.
Impressive. Pretty a rookie on this! I just didn't know about M&A but your explanation is a mark of a guru. Well done Sir, that to me is a truly definition of the state of the art! Looking forward for brighter business days ahead
You seem so kind and genuine. Also I love how you explain things! Thank you so much for this! I worked in the legal sector for a long time but I am only now thinking about becoming an M&A lawyer! thank you :)
Thank you very much, Mr Cenkus. Very informative presentation. I have a question - do investment banks help their clients identify and find potential acquisition targets? I give you an example of what I mean - let's say I have a commercial bank and I want to expand its operations by acquiring other banks. Can I instruct my investment banker to find all the commercial banks which fit the criteria laid out by me (e.g., size of the assets, geographical location, number of branches,etc), then approach their owners and start negotiating the acquisition?
@2:38 is interesting. Wondering why people say consultants charge more for a merger, when it seems we can do it ourselves. What exactly are they charging so much for?
Thank you Brett Cenkus, for the magnitude of value you share with us. I have a question, if you could shed some light: How could a potential buyer incentivize a broker to “recommend” 100% seller finance to the seller? Thanks in advance.
I'm studying BA, not sure what master can get into M&A so here I come to learn what is M&A job duties. This is really helpful and insider knowledge. Thanks, Brett!
Hi Brett, I am a law school student with my 1st “big law” internship coming this summer. I am interested in transactional/M&A type of practice and wanted to know what I can do to prepare. Any book recommendations or any other tips would be super helpful! Thank you
You are working with a client as a Chief Technology Officer, and you have produced a graph to help your client understand how each of the investment accounts will behave over time. Write your client a report outlining an investment forecast and recommending in which type of account they should invest. In your report, to support your claims you should use comparisons of the data and an explanation of the chart trendlines on the next tab. Address whether the client is looking to invest short term (five years or less) or long term (longer than five years). Which of the chart types on the following Excel page, titled “Chart Types” will be most useful for supporting your recommendations? Why? can you answer that question please?
Given your experience in the field, do you have any suggestions for students earning a business degree on the specific route they can take that would be most helpful in getting into this field? Also, what are some of the things you enjoy about what you do?
We have a deal on the table right now. Our shelf company (WY) is purchasing a company (MI) $$22.5M LBO, seller will take Note over three years. We will use this Company to ge Public to purchase two relate construction companies value at $70M each. Be nice to speak with you on these deals.
Considering going back to school for either accounting/finance BA or Law School for Transactions/Real Estate/and Tax Law. I wanted to ask if you have any recommendations for law school, the profession and learning how to prepare these documents or resources to learn this material? Is there any information you can provide with a day in the life as well? Thanks
Many corporate lawyers who want to leave their firm, go work for a client in its legal department. Where would an M&A attorney generally go? To a buyer they represented in the past or to an investment banker who has brokered many deals the law firm was involved with?
Troy, I haven't gone to b-school (although my undergrad work was in Economics, so that's in the ballpark). When I was applying to grad schools in 1995, there was a zero chance any quality business school would take me from Messiah College and with one year of experience in the business world (probably not very likely today either!) So, I went to law school, never really intending to be, or identifying as, a lawyer. I've always loved business. I love finance, strategy, entrepreneurship. I've read tons and tons of books, self-studied, analyzed businesses - those are the sorts of things/topics where I lose track of time easily. Over the years, I've come to enjoy and identify with my lawyer role more, although I still gravitate toward the business side of things -- why deals get done, the financials, the people issues, etc.
New subscriber here! Love your channel and the insight you give to viewers. I do have a quick question for you regarding your education. I noticed you stated you graduated from Harvard. In your opinion with the exorbitant cost of say a T20 school... Would you take on the debt? or If you can self pay and receive scholarships to a lower ranked state school (ranked 50-75) would you go that route? Thanks for your time!
Thank you so much Brett! I have an upcoming interview for an internship in Transaction Advisory Services - M&A with one of the BIG 4 this week and I wanted to ask to what extent their work is different from what you do. What advice can you give me for the interview itself regarding more theoretical questions? Thx again!
Philipp, I'm a bit behind circling back to your question and, because of that, I may have missed the opportunity to help you before your internship interview. Still, your question is a good one with broad relevance so I will answer it now anyway. Transaction advisory services at the Big 4 is similar to investment banking. Your job would be primarily a marketing and sales position with a heavy finance component. You would be more heavily involved in preparing a business for sale, marketing it, and negotiating the terms of a deal. You would also often play a key role in shepherding a deal toward closing -- a project management-type role. M&A lawyers get more heavily involved once the deal is struck (often once a letter of intent is signed) and their job is more about documenting and closing the deal than the strategic negotiation and structuring of the deal. It is sometimes different for me given my background on the M&A deal and finance side (non-law) side of thing, although clients don't typically look to their lawyer for guidance on the value of their business. They look to their lawyer for advice about the legal and tax ramifications of structuring an M&A deal one way vs. another (asset sale vs. stock sale vs. merger). That's probably the best way to put it -- transaction advisory services and investment banking is about pricing and marketing M&A deals and M&A law is about documenting and closing the deals. There is overlap, although there is still a distinct diving line somewhere in there.
That's one of about a dozen celebrity mugshots that were more tightly arranged in a wall collage until about a year ago when one fell down and a couple of others shifted, i.e., the project is falling apart, and I haven't decided to fix it or do something different. Jane Fonda, Kurt Cobain, Al Capone, Jim Morrison, Johnny Cash, and Frank Sinatra are some of the other featured celebs.
Hi Brett, Where does an intern belong in a mid-cap size M&A firm? A professor connected me with an opportunity, and I am stumbling over the question of “why are you interested in M&A” Really I’m just a 5th year student in Industrial Engineering that has read too many books such as New Tycoons, King of Capital, Gods at War, and am convinced I would love to funnel my life in building business models, working with people, and have a demanding yet rewarding career. How do I not make myself sound naive about why I want an M&A job? How might I leverage my engineering education background to make myself stand out? Do I make a case that I can probably work on the industrial sector buy side because I am trained to identify and solve efficiency problems that would decrease a factory’s operating costs? Sorry for the long question and I appreciate your time. Thanks.
Matt, I apologize for taking so long to respond. I hope my response remains relevant (timely enough). The first thing you should focus on is your explanation for why you went into engineering (as opposed to business or finance). There are lots of ways to tackle this one. You hit on the ability to identify and solve problems as a core skillset of an engineer. If you can truthfully say that you're a very curious person and you have always been interested in how things work and identifying and tackling problems and that engineering really helped formalize you process for understanding problems and developing solutions -- an answer along these lines would be great because it removes any concern that you really want to be an engineer but that you're tempeted by the bigger bucks in IB - not that engineers are underpaid in our society, although you're better off with an answer that resolves any concern around you having a true passion that for whatever reason you're not going to pursue right now. In other words, focus on the broad aspects of engineering, not the domain specialized aspects of it. Take the possible negative of "why did this guy go into that specialized field?" and spin why it's the general aspects of what the field teaches rather than the specialized aspects. The equivalent for a lawyer is an answer along the lines of, "transactional law gives you a broad understanding of how deals get put together and that was always interesting to me" rather than "I've always been interested in how laws are made and applied and the justice system, yada, yada, yada." The second part of this exercise is the tougher part (as you point out) -- why IB? If you have finance courses or an internship or an extracurricular activity that supports an interest in finance, that'd be great to highlight. Regardless, I don't think you want to go down the path of talking about how your engineering degree suits you to analyze factory operating costs, things like that. It puts you back in the realm of being primarily an engineer. Don't do that. It brings the initial concern we discussed back to the forefront in some ways. Plus, unless it's a very small bank with that specific need, they don't hire at this level for domain experience. That's why the big investment banks are fine hiring english and philosophy majors. They want bright, curious, driven problem solvers. The same applies for mid-sized firms. If you show a penchant for numbers, that's a plus (you can easily do this -- fits with the engineering skillset and all the math courses I assume you took). Build off the base you put together for why you went into engineering. You love understanding how things work and solving problems and investment banking is about financial models (how companies successfully operate and grow) and capitalization structures -- that's all about understanding how companies work and how to get them the liquidity they need to grow. An answer along the lines of, "one thing that I've come to understand about engineering is how much the numbers -- the math -- is at the heart of understanding and modeling structures, circuits, whatever. Engineering is a solidly left-brain activity and so is finance. They both look at the world from a quantitative angle. They are sciences. connect those dots for the interviewer. It sounds like that's at the heart of what's driving you (my assumption based on all the books you're reading). A lot of your job will be financial modeling. You're way better off convincing an interviewer that you love financial modeling than that your engineering background fits a unique need in a specific group. I can't stress enough that mid and large-cap banks want sharp, driven, curious people much more than people with any specific skillset (this is the same in big law). You need to get your interest finance and financial modeling into the conversation, although that's more of a "check the box" thing than the main driver of their decision to hire you.
@@BrettCenkus Brett, thank you so much for your response, that helps a lot! Turns out I didn't make the cut for the handful of banks I was aiming for. In the mean time, I was accepted into an MBA program and maybe I can break into IB by networking hard! Anyways, Thanks!
Thanks for this video. I would like to ask for your advice. I got into a difficult situation and have no experience with it. Topic: What happens to the money of small investors in the event of a SPAC merger failure. -What is happened if a SPAC Merger fails? SPAC Company, THUNDER BRIDGE ACQUISITION II, LTD - announced its intention to merge with INDIE SEMICONDUCTOR last year (2020) to bring it listed on NASDAQ stock exchange in 2021 first quarter. But an investigation has been launched against the blank check company, saying that "the shareholders have not been properly informed and small investors will have little stake in the formed, new company. After the merger". > 1.If the merger fails, what happens? Small investors lose their invested capital either return to a low share price and "their invested capital get stuck in this SPAC, "blank check company" ?, I do not understand why an investigation is launced against SPAC with the reason that small private investors can only have wenig stake (prozent) in new company after the Merger because the small investors do not think rhey could more have in it, for them is not point, they are not interesed in how much prozent they can have in a very big company. The ones who are "big companies" like financial companies, funds want to have more in a SPAC, but not private small investors. > 2. What should I do in this case if the stock price has already dropped so much that it is lower than the average of my buying price? Thanks for help, answers,
DIY legal for a 9m deal 😂 Watched two of your vids now. Really like your channel. We should connect. I make m&a videos from an acquisitions entrepreneur POV -Jason
3rd question how to find understandable donations and resources to accept certain treaties being broken and misunderstanding situations due to out numbered and unable to have any way to protect your chosen allies and family lines.
Hi Brett! Excellent video. This was very simple and helpful. I have an interest in M&A work. I was in the sports field but I am deciding whether to transition into corporate law or investment banking. Which path will give me more exposure to M&A deals? Any advice would be helpful as I make this transition. Thank you again for the video.
Casey, both paths can give you equal exposure, from a quantity standpoint, to M&A deals, assuming you're able to get into the M&A space in each field. My sense is that investment banking is a tougher path to get down. I think there are fewer investment bankers focusing on M&A than M&A lawyers. I may be wrong about that, although that's my sense based on experience and the limited data I've seen. I know there are more lawyers generally (a lot more lawyers than investment bankers), so the possibility of getting a job in some area of law and then moving into M&A seems like it offers more opportunity to break into M&A than going the IB route. Qualitatively, you'll see the deals from both angles (i.e., you'll get a bit of the other job and what they do), at least as you gain experience and move up the chain. In other words, the top M&A lawyers and top M&A investment bankers see a lot of each other's work. At the junior level, that is less true, because they have less time at the "table" (seeing the negotiations go down). And, even at the senior level, they aren't doing each other's work (naturally). So, the investment bankers will see a lot more of how the deal gets put together, priced, financed, sold and the lawyers will understand the intricacies of the deals are documented on paper. As a law student, I thought investment banking was a much more substantive (sexy) job. Now, I don't think that, although if I had to pick one, I'd say that investment banking gives you a bit more overall exposure to how M&A deals get done because of the focus on structure, price, and financing.
I watched your video (leaning) towards the 10 steps for the selling company. You mentioned the info might be used by the buyer also. A private buyer with intent to acquire a five million dollar company, how do the steps differ if at all? I live in the Caribbean region. Most laws here are similar to the US if not more lenient. How do I begin the process (contact said company) without negative response?
Hello, I’m currently doing research for a paper I’m writing for my college admission. I’m writing a research paper on Tenant landlord evictions that focuses on landlords/owner of the property in an active M&A with open eviction cases during this process. 1. Why would a stock price Change from $25 to $0.01 During an M&A 2. When does the Ownership Change? 3. Does the Ownership change During the M&A or is it the transfer/purchase of Stocks, assets or both? 3. Where can I find citations , statutes, codes that refer to my first 2 questions? Any references, cases that you can refer me to would be greatly appreciated.
Very informative! Thank you for your video. I was asked to be part of a team. I did a little research about the company and it deals with business acquisitions, an area I don't have any knowledge about. Again thank you for your video, it made me realize this career isn't for me. I admit you know your stuff!
Hi. Is it normal to ask employees, directors etc. To sign an undertaking whereby they are prohibited from buying buying shares of a listed company for a certain time period until the deal goes public? At what point do I ask for such undertaking? At the due diligence stage or at the initial offer stage?
@@BrettCenkus Oh, and thanks for the reply. I am pleasantly surprised. Also, regarding the industries, I am looking at being in this business for the long haul, 15-20 yrs, at least. So, this being a rapidly changing world, this plan factors into the industry I will choose. I was planning to do healthcare, but I am not thrilled with this industry as a long term play for me. Manufacturing seems like viable option. Again, any feedback world be appreciated.
Knowledge gained from your 13 minutes video > my 3-month M&A internship. Thank you for the quality content!
You're welcome, Seyma!
...how is that possible
hello dear can you help me in finding merged and acquired companies list I am in need of it. Thanks
Where the hell did you work 😂😂
The Krusty Krab@@bishoyhanna3949
I love the way you speak about your job and this profession. It seems you take pride in this and are genuinely interested. Yeah this job is tough but I'm glad there are lawyers like you. And thanks for sharing!
Yes! He's so inspiring and enjoyable to watch.
I AGREE!! Love to see more people talk about what they love especially in business
Thank you for such positive feedback!
Can a person not understand his clarity, and thoroughness. Very great presentation!
Thank you, Alex!
Thank you so much for the explanation! You're fresh and smart, pleasure to watch!
you're welcome and thank you for the positive feedback!
She want some of them M's 💲💲💲💲💲
Killed it! I saw the complete video and read all the comments and your detailed response to most of them. I must say it would be a priviledge for your clients and the people who work with you with such a clear guidance. The detailed responses were very informative and worthy. I personally learnt a lot.
Kudos from India!
Thank you, Tushar!
Well done. That was a good solid introduction to what M&A is. Great job.
I thought this is on murders and executions.
An understandable mistake!
😂😂
😂
Ahahah
😂😂😂
As other people have mentioned, I love the way you talk about your job. Thanks for sharing your knowledge.
thank you, Arnaud
This is amazing! I have always been interested in mergers & acquisitions, basically business law. Great video!
thank you, Daniel! Glad you enjoyed it.
@@BrettCenkus I have a question. If you were getting into M&A today, what are the industries you would recommend. Thanks. Great vid.
Love the way this guy talks
Just transitioning into a corporate and commercial legal counsel/secretary. I am glad I found this Chanel.
thank you, Rosemond!
I am HOOKED, oh man what a great video series. So happy to find your channel, Brett!
You're welcome, Ross - glad you are enjoying the channel!
Very clean speaker. So easy to understand. Great video
Thank you, Gavin!
Corporate paralegal here, thanks for the video! I’ve found: always look for liabilities in restricted stock units to employees or consultants the seller has retained.
Where did you start to get that job?
Solid explanation about Mergers and Acquisitions. I've always been interested in m&a and business law in general. Great video!
thank you, Andre!
I feel thankful to have found your channel.
thank you, Siddhant!
Impressive. Pretty a rookie on this!
I just didn't know about M&A but your explanation is a mark of a guru.
Well done Sir, that to me is a truly definition of the state of the art!
Looking forward for brighter business days ahead
Thank you, Isaac!
Thanks for providing overall idea about M&A.
You're welcome, Sathiyan.
Finally some sweet M&A content. Big up Brett
thank you!
You seem so kind and genuine. Also I love how you explain things! Thank you so much for this! I worked in the legal sector for a long time but I am only now thinking about becoming an M&A lawyer! thank you :)
You're welcome!
You're welcome, Larissa!
Thank you for the clear explanation. Well, put.
Awesome video Brett, loved watching this 🙏
Thank you, Aaron
I'm wanting to like this twice
This is a great video, I’m trying to get into the focus of M&A. If you have any recommendations please share!
Perfect video. The best explanation of M&A on the web.
thank you for the feedback!
You are so clear at the explanation of this topic! Thank you very much for making me understand it!
You're welcome, Arsela!
Great video Brett.
I am wrapping up my grad school in Finance and looking to join M&A. These videos are very helpful. Thank you !
you're welcome, Ibrahim. Are you graduating in December? Good luck down the final stretch!
Hey Brett, thanks for such a clear explanation. I learned a lot!!!!
You're welcome, Rashid. Thank you for letting me know the video was helpful to you!
Very helpful/educative information. Thanks for sharing!
you're welcome!
Thank you very much, Mr Cenkus. Very informative presentation. I have a question - do investment banks help their clients identify and find potential acquisition targets? I give you an example of what I mean - let's say I have a commercial bank and I want to expand its operations by acquiring other banks. Can I instruct my investment banker to find all the commercial banks which fit the criteria laid out by me (e.g., size of the assets, geographical location, number of branches,etc), then approach their owners and start negotiating the acquisition?
@2:38 is interesting.
Wondering why people say consultants charge more for a merger, when it seems we can do it ourselves.
What exactly are they charging so much for?
a great chunk of thanks for sharing and explaining the business matters, highly appreciated
you're welcome!
Thank you Brett Cenkus, for the magnitude of value you share with us. I have a question, if you could shed some light:
How could a potential buyer incentivize a broker to “recommend” 100% seller finance to the seller?
Thanks in advance.
Excellent presentation
I wish you would start making videos again. These are great.
Pleasure to watch, thank you Sir
Glad you enjoyed it!
Man! Thank you for this video. So valuable
You're welcome, Carlo!
This is gold. I would have to pay for this in my state over a consultation
thank you!
I'm studying BA, not sure what master can get into M&A so here I come to learn what is M&A job duties. This is really helpful and insider knowledge. Thanks, Brett!
you're welcome, Zazie!
Appreciate your crash course. Loved your simply stated approach.
Thank you!
Hi Brett, I am a law school student with my 1st “big law” internship coming this summer. I am interested in transactional/M&A type of practice and wanted to know what I can do to prepare. Any book recommendations or any other tips would be super helpful! Thank you
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Thank you for the time and effort you put to share this knowledge. Very helpful
you're welcome, Ehab
Nice to know you and well presentable materials. THANKS!
thank you, Hashem!
You are working with a client as a Chief Technology Officer, and you have produced a graph to help your client understand how each of the investment accounts will behave over time. Write your client a report outlining an investment forecast and recommending in which type of account they should invest.
In your report, to support your claims you should use comparisons of the data and an explanation of the chart trendlines on the next tab. Address whether the client is looking to invest short term (five years or less) or long term (longer than five years).
Which of the chart types on the following Excel page, titled “Chart Types” will be most useful for supporting your recommendations? Why?
can you answer that question please?
Given your experience in the field, do you have any suggestions for students earning a business degree on the specific route they can take that would be most helpful in getting into this field?
Also, what are some of the things you enjoy about what you do?
Hey Brett, I was wondering if you could summarise in a short clip; "Why mergers and acquisitions fail?" ?
Drake, I will create a video about that topic soon. It is a great one! Thank you for the suggestion.
Do you have a presentation on rules around m&a in which a government contract is involved?
I don't know why, but even at 14 (soon to be 15) I'm interested in mergers, assets and acquisitions. Thanks for the information! : )
You're welcome
Are you still learning about it?
@@glizzforman8094 At 18 yeah probably
learnt all this from louis litt
We have a deal on the table right now. Our shelf company (WY) is purchasing a company (MI) $$22.5M LBO, seller will take Note over three years. We will use this Company to ge Public to purchase two relate construction companies value at $70M each. Be nice to speak with you on these deals.
Great video - very well explained! Thanks for posting!
Thank you Brett !
You're welcome!
Thank you so much great video 🙌
Considering going back to school for either accounting/finance BA or Law School for Transactions/Real Estate/and Tax Law. I wanted to ask if you have any recommendations for law school, the profession and learning how to prepare these documents or resources to learn this material? Is there any information you can provide with a day in the life as well? Thanks
It was a nice outlook about the overall topic..
very helpful video, thanks
You're welcome!
Hello Brett, I have a Question, if a big company were to try to buy out a small company, without any notice, Would I in M&A, be working with that?
Many corporate lawyers who want to leave their firm, go work for a client in its legal department. Where would an M&A attorney generally go? To a buyer they represented in the past or to an investment banker who has brokered many deals the law firm was involved with?
Interesting stuff! Did you start off in business school and then make the switch into law?
Troy, I haven't gone to b-school (although my undergrad work was in Economics, so that's in the ballpark). When I was applying to grad schools in 1995, there was a zero chance any quality business school would take me from Messiah College and with one year of experience in the business world (probably not very likely today either!) So, I went to law school, never really intending to be, or identifying as, a lawyer. I've always loved business. I love finance, strategy, entrepreneurship. I've read tons and tons of books, self-studied, analyzed businesses - those are the sorts of things/topics where I lose track of time easily. Over the years, I've come to enjoy and identify with my lawyer role more, although I still gravitate toward the business side of things -- why deals get done, the financials, the people issues, etc.
Great video
thank you, Tim
Great video, Brett!
New subscriber here! Love your channel and the insight you give to viewers. I do have a quick question for you regarding your education. I noticed you stated you graduated from Harvard. In your opinion with the exorbitant cost of say a T20 school... Would you take on the debt? or If you can self pay and receive scholarships to a lower ranked state school (ranked 50-75) would you go that route? Thanks for your time!
Thank you so much Brett! I have an upcoming interview for an internship in Transaction Advisory Services - M&A with one of the BIG 4 this week and I wanted to ask to what extent their work is different from what you do. What advice can you give me for the interview itself regarding more theoretical questions? Thx again!
Philipp, I'm a bit behind circling back to your question and, because of that, I may have missed the opportunity to help you before your internship interview. Still, your question is a good one with broad relevance so I will answer it now anyway. Transaction advisory services at the Big 4 is similar to investment banking. Your job would be primarily a marketing and sales position with a heavy finance component. You would be more heavily involved in preparing a business for sale, marketing it, and negotiating the terms of a deal. You would also often play a key role in shepherding a deal toward closing -- a project management-type role. M&A lawyers get more heavily involved once the deal is struck (often once a letter of intent is signed) and their job is more about documenting and closing the deal than the strategic negotiation and structuring of the deal. It is sometimes different for me given my background on the M&A deal and finance side (non-law) side of thing, although clients don't typically look to their lawyer for guidance on the value of their business. They look to their lawyer for advice about the legal and tax ramifications of structuring an M&A deal one way vs. another (asset sale vs. stock sale vs. merger). That's probably the best way to put it -- transaction advisory services and investment banking is about pricing and marketing M&A deals and M&A law is about documenting and closing the deals. There is overlap, although there is still a distinct diving line somewhere in there.
Wow that was a great answer for me and I didn’t even ask the question
Amazing description
Thanks, great summary! Have to ask though, why the Elvis mugshot in the background?
That's one of about a dozen celebrity mugshots that were more tightly arranged in a wall collage until about a year ago when one fell down and a couple of others shifted, i.e., the project is falling apart, and I haven't decided to fix it or do something different. Jane Fonda, Kurt Cobain, Al Capone, Jim Morrison, Johnny Cash, and Frank Sinatra are some of the other featured celebs.
Hi Brett, Where does an intern belong in a mid-cap size M&A firm? A professor connected me with an opportunity, and I am stumbling over the question of “why are you interested in M&A”
Really I’m just a 5th year student in Industrial Engineering that has read too many books such as New Tycoons, King of Capital, Gods at War, and am convinced I would love to funnel my life in building business models, working with people, and have a demanding yet rewarding career. How do I not make myself sound naive about why I want an M&A job? How might I leverage my engineering education background to make myself stand out? Do I make a case that I can probably work on the industrial sector buy side because I am trained to identify and solve efficiency problems that would decrease a factory’s operating costs?
Sorry for the long question and I appreciate your time.
Thanks.
Matt, I apologize for taking so long to respond. I hope my response remains relevant (timely enough). The first thing you should focus on is your explanation for why you went into engineering (as opposed to business or finance). There are lots of ways to tackle this one. You hit on the ability to identify and solve problems as a core skillset of an engineer. If you can truthfully say that you're a very curious person and you have always been interested in how things work and identifying and tackling problems and that engineering really helped formalize you process for understanding problems and developing solutions -- an answer along these lines would be great because it removes any concern that you really want to be an engineer but that you're tempeted by the bigger bucks in IB - not that engineers are underpaid in our society, although you're better off with an answer that resolves any concern around you having a true passion that for whatever reason you're not going to pursue right now. In other words, focus on the broad aspects of engineering, not the domain specialized aspects of it. Take the possible negative of "why did this guy go into that specialized field?" and spin why it's the general aspects of what the field teaches rather than the specialized aspects. The equivalent for a lawyer is an answer along the lines of, "transactional law gives you a broad understanding of how deals get put together and that was always interesting to me" rather than "I've always been interested in how laws are made and applied and the justice system, yada, yada, yada." The second part of this exercise is the tougher part (as you point out) -- why IB? If you have finance courses or an internship or an extracurricular activity that supports an interest in finance, that'd be great to highlight. Regardless, I don't think you want to go down the path of talking about how your engineering degree suits you to analyze factory operating costs, things like that. It puts you back in the realm of being primarily an engineer. Don't do that. It brings the initial concern we discussed back to the forefront in some ways. Plus, unless it's a very small bank with that specific need, they don't hire at this level for domain experience. That's why the big investment banks are fine hiring english and philosophy majors. They want bright, curious, driven problem solvers. The same applies for mid-sized firms. If you show a penchant for numbers, that's a plus (you can easily do this -- fits with the engineering skillset and all the math courses I assume you took). Build off the base you put together for why you went into engineering. You love understanding how things work and solving problems and investment banking is about financial models (how companies successfully operate and grow) and capitalization structures -- that's all about understanding how companies work and how to get them the liquidity they need to grow. An answer along the lines of, "one thing that I've come to understand about engineering is how much the numbers -- the math -- is at the heart of understanding and modeling structures, circuits, whatever. Engineering is a solidly left-brain activity and so is finance. They both look at the world from a quantitative angle. They are sciences. connect those dots for the interviewer. It sounds like that's at the heart of what's driving you (my assumption based on all the books you're reading). A lot of your job will be financial modeling. You're way better off convincing an interviewer that you love financial modeling than that your engineering background fits a unique need in a specific group. I can't stress enough that mid and large-cap banks want sharp, driven, curious people much more than people with any specific skillset (this is the same in big law). You need to get your interest finance and financial modeling into the conversation, although that's more of a "check the box" thing than the main driver of their decision to hire you.
www.mergersandinquisitions.com/why-investment-banking/
www.mergersandinquisitions.com/investment-banking-interview-questions-and-answers/
Just jump in and learn it bro. I think your enthusiasm and motivation to learn is what helps you stand out
@@BrettCenkus Thanks.
How do you make connections across various career domains seem this easy?
@@BrettCenkus Brett, thank you so much for your response, that helps a lot! Turns out I didn't make the cut for the handful of banks I was aiming for. In the mean time, I was accepted into an MBA program and maybe I can break into IB by networking hard! Anyways, Thanks!
Very informative! Thank you
you're welcome
Great learning! thanks
My pleasure!
Thank you!! It was very helpful
You're welcome
Thanks for this video.
I would like to ask for your advice.
I got into a difficult situation and have no experience with it.
Topic: What happens to the money of small investors in the event of a SPAC merger failure.
-What is happened if a SPAC Merger fails?
SPAC Company,
THUNDER BRIDGE ACQUISITION II, LTD - announced its intention to merge with INDIE SEMICONDUCTOR last year (2020) to bring it listed on NASDAQ stock exchange in 2021 first quarter.
But an investigation has been launched against the blank check company, saying that "the shareholders have not been properly informed and small investors will have little stake in the formed, new company. After the merger".
> 1.If the merger fails, what happens?
Small investors lose their invested capital either
return to a low share price and "their invested capital get stuck in this SPAC, "blank check company" ?,
I do not understand why an investigation is launced against SPAC with the reason that small private investors can only have wenig stake (prozent) in new company after the Merger because the small investors do not think rhey could more have in it, for them is not point, they are not interesed in how much prozent they can have in a very big company.
The ones who are "big companies" like financial companies, funds want to have more in a SPAC, but not private small investors.
> 2. What should I do in this case if the stock price has already dropped so much that it is lower than the average of my buying price?
Thanks for help, answers,
DIY legal for a 9m deal 😂
Watched two of your vids now. Really like your channel. We should connect. I make m&a videos from an acquisitions entrepreneur POV
-Jason
yeah, crazy, right?! Happy to connect
Hello Brett, loved your informative videos. Many thanks for sharing. Greetings from Germany, Soreb PS: Channel subscribed glaldy!
finance exam tomorrow - just looking for some qual stuff to talk about. pray for me.
3rd question how to find understandable donations and resources to accept certain treaties being broken and misunderstanding situations due to out numbered and unable to have any way to protect your chosen allies and family lines.
Can you talk about what is needed to start an escrow account and submitting the escrow agreement to the bank?
Scientific insights: the significance of refund information
Hi Brett! Excellent video. This was very simple and helpful. I have an interest in M&A work. I was in the sports field but I am deciding whether to transition into corporate law or investment banking. Which path will give me more exposure to M&A deals? Any advice would be helpful as I make this transition. Thank you again for the video.
Casey, both paths can give you equal exposure, from a quantity standpoint, to M&A deals, assuming you're able to get into the M&A space in each field. My sense is that investment banking is a tougher path to get down. I think there are fewer investment bankers focusing on M&A than M&A lawyers. I may be wrong about that, although that's my sense based on experience and the limited data I've seen. I know there are more lawyers generally (a lot more lawyers than investment bankers), so the possibility of getting a job in some area of law and then moving into M&A seems like it offers more opportunity to break into M&A than going the IB route. Qualitatively, you'll see the deals from both angles (i.e., you'll get a bit of the other job and what they do), at least as you gain experience and move up the chain. In other words, the top M&A lawyers and top M&A investment bankers see a lot of each other's work. At the junior level, that is less true, because they have less time at the "table" (seeing the negotiations go down). And, even at the senior level, they aren't doing each other's work (naturally). So, the investment bankers will see a lot more of how the deal gets put together, priced, financed, sold and the lawyers will understand the intricacies of the deals are documented on paper. As a law student, I thought investment banking was a much more substantive (sexy) job. Now, I don't think that, although if I had to pick one, I'd say that investment banking gives you a bit more overall exposure to how M&A deals get done because of the focus on structure, price, and financing.
I watched your video (leaning) towards the 10 steps for the selling company. You mentioned the info might be used by the buyer also.
A private buyer with intent to acquire a five million dollar company, how do the steps differ if at all? I live in the Caribbean region. Most laws here are similar to the US if not more lenient.
How do I begin the process (contact said company) without negative response?
What happens to a company’s stock when it’s stock is bought out by another bigger company?
Thank you... enjoyed the great content
you're welcome. Thank you for the feedback.
Hello, I’m currently doing research for a paper I’m writing for my college admission.
I’m writing a research paper on Tenant landlord evictions that focuses on landlords/owner of the property in an active M&A with open eviction cases during this process.
1. Why would a stock price Change from $25 to $0.01 During an M&A
2. When does the Ownership Change?
3. Does the Ownership change
During the M&A or is it the transfer/purchase of Stocks, assets or both?
3. Where can I find citations , statutes, codes that refer to my first 2 questions?
Any references, cases that you can refer me to would be greatly appreciated.
Does dividend policy affect M & A.
Thanks for d explanation
Your channel is Awesome!!!!!
thank you!
So many people think M&A is finance. In reality, the finance is the easy part in M&A. The legal matters...that's what often make or break a deal.
Very informative! Thank you for your video. I was asked to be part of a team. I did a little research about the company and it deals with business acquisitions, an area I don't have any knowledge about.
Again thank you for your video, it made me realize this career isn't for me. I admit you know your stuff!
thank you for the feedback. I'm glad the video helped you make a clear decision (even if it means the M&A profession lost you!)
very good video :D you seem to like the big tech companies :D
Awesome video Brett!
Thanks!
Hi. Is it normal to ask employees, directors etc. To sign an undertaking whereby they are prohibited from buying buying shares of a listed company for a certain time period until the deal goes public? At what point do I ask for such undertaking? At the due diligence stage or at the initial offer stage?
Quite informative ,thanks Britt
You're welcome, Francis!
Great vid
thank you!
Thank you - helpful video
Great Value ! thanks
Thank you, Mathis!
Thanks for useful information :) nice video
you're welcome. Glad the info was helpful!
Great content my man!
Appreciate it!
Nice video Brett!
Thanks for sharing!!!
Hey! Im just one to ask how can I analyzation of the impact of coronavirus crisis on merger and acquisition?
Thank you😄
You're welcome 😊
So if my company gets an acquisition what sec form should I file?
Great video. What industries would you recommend someone look into for acquisitions?
do you mean what industries do I think are hot / ripe for picking up companies (good opportunities to be an M&A buyer)?
@@BrettCenkus Yes.
@@BrettCenkus Oh, and thanks for the reply. I am pleasantly surprised. Also, regarding the industries, I am looking at being in this business for the long haul, 15-20 yrs, at least. So, this being a rapidly changing world, this plan factors into the industry I will choose. I was planning to do healthcare, but I am not thrilled with this industry as a long term play for me. Manufacturing seems like viable option. Again, any feedback world be appreciated.