Mergers and acquisitions (M&A) involves the consolidation of companies or assets through financial transactions.

M&A teams within investment banks play a pivotal role in this process by providing firms with advisory and transaction execution services. These services can include selling a firm to potential buyers, acquiring other companies, or divesting specific divisions from an existing firm.

Bankers in this division offer expertise in valuation, transaction structures, and strategies for effective deal negotiations. Day-to-day responsibilities include building valuation and merger models, reconciling adjusted financial statements, understanding the entire deal process, and creating marketing materials, or information memorandums, to present opportunities to clients and potential buyers or sellers.

Mandates

• Sell Side Mandate: Client wants to sell their company and maximize profits from the transaction
• Buy Side Mandate: Client wants to buy a company, and the bankers help them navigate the process, which can include identifying potential targets, negotiating the deal, and securing financing

It's important to note that some investment banks, such as Goldman Sachs, integrate their M&A teams into their industry coverage groups. This integration allows for a more specialized approach when dealing with M&A transactions within specific sectors or industries.

Recruiting

As with all roles in investment banking, candidates should, at the very least, understand all of the basic technical questions in the BIWS 400 Question Guide. Furthermore, it is necessary to be in-the-know of current market deals and how different components of our financial system affects this flow, e.g., interest rates, crises, etc.