How a Public Equity Analyst Evolves to Executing M&A

Greg Stein, Vice President, M&A and Strategy at Xerox (NASDAQ: XRX)

For public equity analysts, M&A is nothing new. One of their main jobs is to conduct financial analyses of companies and other potential investments. However, M&A execution is another story. 

In this episode of the M&A Science Podcast, Greg Stein, Vice President of M&A and Ventures at Xerox, shares his experience as a public equity analyst and how his role evolved to executing M&A.

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This episode is sponsored by FirmRoom, the fastest virtual data room used to get deals done. Leave the pay-per-page world behind by going to https://firmroom.com/

Episode Timestamps

00:00 Intro

06:42 From public equity analyst to doing deals

07:32 Executing M&A against the strategy

10:49 Assessing M&A processes of companies

13:58 Trends between announcement of a deal and stock price 

15:50 Transition from PE analyst role into corp dev

17:48 How to evaluate a business

19:26 Walking away from a deal

21:11 Integration aspects

24:09 Potential pitfalls in a deal

25:25 Prioritizing diligence

26:54 Guiding principles

28:08 Deal timeline and who gets involved

30:52 People overlap

32:25 Preliminary diligence as a Public Equity Analyst

35:59 Tips for negotiations

38:09 Advice for people transitioning from public equity role to M&A

40:10 Craziest thing in M&A