Key takeaways
Host: Lauren Hayes, managing director, Deloitte Consulting LLP
Presenters: Michael Dziczkowski, partner, Deloitte Consulting LLP
Keturah Henry, principal, Deloitte & Touche LLP
Ryan Stecz, partner, Deloitte Tax LLP
1.0 Overview CPE credit | Specialized Knowledge
Regulatory scrutiny may force buyers to incorporate divestitures into their strategy to get a mega merger through approval. In fact, of the 50+ mega deals already announced in 2024, many have included divestitures as part of their larger transaction.1 Similarly, sellers striving to transform their organization may face buyers with a different intended scope (e.g., assets inside/outside the suggested perimeter). M&A players should consider complex divestitures ahead of time. In this session, we’ll discuss:
- M&A mega merger trends and challenges
- Considerations for incorporating divestitures into M&A strategy
- Lessons learned to help enhance readiness and avoid last-minute disruptions
1 Deloitte analysis of M&A data generated via S&P Capital IQ, accessed October 28, 2024.
Meet the speakers
Lauren Hayes
Lauren is a managing director in the Merger & Acquisition Consultative Services practice with Deloitte Consulting LLP and leads the US Divestiture service offering. She has more than 15 years of experience at Deloitte leading large integration and divestiture programs with a focus on the consumer products and retail industries. Lauren earned a BA in Economics from Northwestern University and an MBA from Duke University Fuqua School of Business.
Michael Dziczkowski
Michael is a partner with Deloitte & Touche LLP and has more than 22 years of business experience in both public accounting and private industry, based in both the Netherlands and the United States. Mike has deep experience in accounting and reporting for transactions gained through multiple engagements relating to multi-billion dollar carve-out financial statements, purchase price allocation accounting including the push down of fair value within a multiple legal entity structure and IPO readiness and remediation projects. Mike has spent several years of his career as part of Deloitte’s National Office – SEC Services Group, working in the area of initial offerings and other stock and debt registrations. He is a CPA and a member of the AICPA.
Ryan J. Stecz
Ryan is a partner with Deloitte Tax LLP in the M&A Transaction Services practice, based in Chicago. Ryan has more than 20 years of public accounting experience including more than 15 years as a dedicated M&A specialist. He has experience in advising financial and strategic buyers on due diligence and deal structuring in a range of industries including consumer and industrial products, healthcare, and technology. Further, Ryan has significant experience advising clients on sell side transactions including the preparation of carve-out financial statements, vendor due diligence reports, tax structuring and modeling exercises, and the tax implications associated with selling S corporations. Ryan’s experience in advising financial and strategic buyers on due diligence and deal structuring in a range of industries has provided him with deep insights into the sell-side process as well as the needs and motivations of acquiring entities. He has been a leading contributor to several articles covering tax aspects of preparing carve-out financial statements and selling S corporations. Ryan has spoken on a variety of M&A sell side related topics including vendor due diligence best practices, tax considerations of carve-out financial statements and selling Subchapter S corporations. He has also been a guest-lecturer at the University of Notre Dame’s Masters in Taxation program. He currently serves as a member of the St. Benedict Preparatory school’s endowment board.
Dbriefs resources
