M&A Science Think Like a Buyer: Valuation & Deal Structuring with Javier Enrile
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Aug 25, 2025 In this discussion, Javier Enrile, Managing Director of M&A at TIAA, shares his expertise in corporate M&A and private equity. He highlights the importance of relationship-building over aggressive auction processes for creating competitive advantages. Javier dives into sophisticated valuation techniques, separating intrinsic value from market noise, and addresses the essentials of deal structuring to safeguard against risks. Listeners gain insights into dynamic negotiation strategies and the critical integration of valuation, diligence, and deal structuring for M&A success.
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Corporate M&A Is Dual-Mode Investing
- Corporate M&A blends private equity rigor with strategic business thinking and ownership risk.
- You must underwrite both financial returns and strategic fit to justify a transaction.
Sequence Strategy Before Sourcing
- Start your M&A with the company's organic strategy and ask how inorganic moves accelerate it.
- Then define the target types and narrow criteria before sourcing.
Filter To Ten High-Quality Targets
- Narrow your target criteria to be efficient; filter databases to ~10 strong fits and start building relationships.
- Expect many declines and focus on the handful that engage.