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Gods at War: Shotgun Takeovers, Government by Deal, and the Private Equity Implosion
An engaging exploration of modern-day deals and deal-making Gods at War details the recent deals and events that have forever changed the world of billion-dollar deal-making. This book is a whirlwind tour of the players determining the destiny of corporate America, including the government, private equity, strategic buyers, hedge funds, and sovereign wealth funds.
It not only examines many of the game-changing takeover events that have occurred in the past years, but also puts them into context and exposes what is really going on behind the scenes on Wall Street. Gods at War completely covers the strategic issues that guide the modern-day deal, and since they unfold under the shadow of the law, it also focuses on the legal aspects of deal-making and takeovers.
Each chapter unfolds through the lens of a recent transaction, from the battle between Yahoo! and Microsoft to the United Rental/Cerberus dispute Provides in-depth explanations and analysis of the events and actors that have shaped this fast-moving field Examines the federal government's regulation by deal approach to saving the financial system and explains the government's biggest "deals," including its bail-outs of AIG, Bank of America, and Citigroup Filled with in-depth insights that will enhance your understanding of this field, Gods at War offers an engaging look at deals and deal-makers in the context of recent historical events. It's a book for those who want to understand deals, takeovers, and the people and institutions who shape our world.
It not only examines many of the game-changing takeover events that have occurred in the past years, but also puts them into context and exposes what is really going on behind the scenes on Wall Street. Gods at War completely covers the strategic issues that guide the modern-day deal, and since they unfold under the shadow of the law, it also focuses on the legal aspects of deal-making and takeovers.
Each chapter unfolds through the lens of a recent transaction, from the battle between Yahoo! and Microsoft to the United Rental/Cerberus dispute Provides in-depth explanations and analysis of the events and actors that have shaped this fast-moving field Examines the federal government's regulation by deal approach to saving the financial system and explains the government's biggest "deals," including its bail-outs of AIG, Bank of America, and Citigroup Filled with in-depth insights that will enhance your understanding of this field, Gods at War offers an engaging look at deals and deal-makers in the context of recent historical events. It's a book for those who want to understand deals, takeovers, and the people and institutions who shape our world.
365 pages, Hardcover
First published January 1, 2009
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560 people want to read
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Displaying 1 - 12 of 12 reviews
December 25, 2018
Deep academic analysis of legal precedence and case studies of mergers and takeover deals. Valuable information for lawyers and investment bankers, but little value for mainstream managers. Detailed history of major deals over the past 50 years and the legal complexity of each deal in a format and style that includes legal code specific details that are not conveyed well for those in the audiobook format. This would be a great book to keep on your shelf and read and refer to while you prepared for a major merger negotiation, other than preparing for a merger or leveraged buyout, I would not recommend the book to the average business reader.
June 21, 2016
This is an excellent brief history of deal making from those in government, private equity, and activist investing. It goes into great detail on the intricacies of high end deals and where the future of deal-making is going.
January 8, 2020
Very good overview of what PE, hedge fund buyouts and what constitutes a material adverse change. Focuses much less on debtor in possession financing and distress investing than some of the other books I've read, but a very good overview
April 12, 2018
interessante, cronachistico, abbastanza tecnico, non lettura leggera...
February 10, 2019
Case studies and guidance on potential enhancements on M&A law.
December 21, 2024
More niche than I thought it would be because it was more of a technical legal analysis of major private equity deals
December 9, 2009
I had high expectations for this book and ended up mildly disappointed.
I think the book suffers from a too-narrow focus and a lack of historical or interdisciplinary context. Also, it is not as well written as I would have expected given Davidoff's pedigree. (His alter-ego is that of the "Deal Professor," the author of a widely-read New York Times blog.)
The book could have used a harsher editor. Part of the problem is that the book seems to be a reiteration of a handful of Davidoff's previous articles and blog postings. Also, his intended audience seems to me to be rather narrow - what he calls “members of the dealmaking community” (i.e., lawyers, investment bankers and accountants) and “those who train them” (ie law and management professors.)
Despite these shortcomings, there really is no other book that I’m aware of that covers the same ground as Gods at War. Davidoff clearly has a lawyer’s grasp of takeover law and practice and presents quite a few detailed and interesting case studies.
Most of the book in fact consists of case studies of takeover battles that occurred during what he calls the “sixth wave of takeover activity,” the period roughly from 2006 to 2009, culminating in the flurry of government-induced (and subsidized) takeovers of failing financial firms.
Along the way, Davidoff does a fairly good job of describing the rise (and partial fall) of the private equity industry; the advent of the sovereign wealth funds; and the return of the strategic deal (buyer and seller in the same industry.)
His overarching theme seems to be that lawyers are an important and underappreciated part of the "deal machine" and that good lawyering really matters in terms of the outcomes desired by buyers and sellers alike.
Although he makes some interesting predictions about the forms dealmaking will likely take in the wake of the current recession and credit contraction, his suggestions for regulatory reform are beyond timid.
I would have liked for him to at least ask the question: should government takeover law and policy continue to confine itself to the limited objective of protecting shareholder value, or should there be a broader public purpose behind state and federal takeover regulation – say, for example, preserving jobs or promoting long-term sustainability?
Instead we get suggestions for incremental reform that could have come right out of an SEC study commission report circa 2007 but seem wholly inadequate given the new realities (and opportunities?) that arose in the wake of the big credit meltdown of 08-09.
I think the book suffers from a too-narrow focus and a lack of historical or interdisciplinary context. Also, it is not as well written as I would have expected given Davidoff's pedigree. (His alter-ego is that of the "Deal Professor," the author of a widely-read New York Times blog.)
The book could have used a harsher editor. Part of the problem is that the book seems to be a reiteration of a handful of Davidoff's previous articles and blog postings. Also, his intended audience seems to me to be rather narrow - what he calls “members of the dealmaking community” (i.e., lawyers, investment bankers and accountants) and “those who train them” (ie law and management professors.)
Despite these shortcomings, there really is no other book that I’m aware of that covers the same ground as Gods at War. Davidoff clearly has a lawyer’s grasp of takeover law and practice and presents quite a few detailed and interesting case studies.
Most of the book in fact consists of case studies of takeover battles that occurred during what he calls the “sixth wave of takeover activity,” the period roughly from 2006 to 2009, culminating in the flurry of government-induced (and subsidized) takeovers of failing financial firms.
Along the way, Davidoff does a fairly good job of describing the rise (and partial fall) of the private equity industry; the advent of the sovereign wealth funds; and the return of the strategic deal (buyer and seller in the same industry.)
His overarching theme seems to be that lawyers are an important and underappreciated part of the "deal machine" and that good lawyering really matters in terms of the outcomes desired by buyers and sellers alike.
Although he makes some interesting predictions about the forms dealmaking will likely take in the wake of the current recession and credit contraction, his suggestions for regulatory reform are beyond timid.
I would have liked for him to at least ask the question: should government takeover law and policy continue to confine itself to the limited objective of protecting shareholder value, or should there be a broader public purpose behind state and federal takeover regulation – say, for example, preserving jobs or promoting long-term sustainability?
Instead we get suggestions for incremental reform that could have come right out of an SEC study commission report circa 2007 but seem wholly inadequate given the new realities (and opportunities?) that arose in the wake of the big credit meltdown of 08-09.
April 13, 2015
Although this book is incredibly dry and hard to get through, it offers some important and topical lessons for anyone in the industry. The title is very misleading - consider this book a collection of somewhat related academic essays on the different legal aspects of deal making.
Read
November 21, 2009three chapters in and I've already learned from this book. be advised it's somewhat technical (and looks like it gets more technical).
November 30, 2010
Good thing I didn't go to law school. This took me forever to get through and I found myself finding all sorts of reasons to not pick it up. but I finally got through it. Now on to some fun fiction!
March 18, 2013
Very detailed and technical .. a little to dry for me.
Read
April 22, 2014This book is related to my work and I thought it sounded interesting, too. However, it is dry as toast and so, so boring. I had to put it down about 50 pages in. Maybe I'll revisit in the future.
Displaying 1 - 12 of 12 reviews