This book is like a textbook. It's structured with chapters on various industries, history, and the process.

It's also like a historical memoir, with profiles of many people the author knows personally.

Somewhere in the middle, we lose something.

For example, when describing historical facts, you get the sense that the author has pulled back. Judgements aren't made, interpretations are scarce. Mixed with the profiles, there's this nagging feeling that the author would never really criticize anyone. Tactful to the extreme is how it could be described, and as a result, the book does not have a soul.

Having said all that, it's kind of funny reading the bits on Drexel and the profile on Miliken. Everyone has already knocked them down, but Wasserstein doesn't kick a dead horse. That'd be too easy. He could write epitaths for villains.

The author has an awesome task in summarizing dynamics and history of M&A Activity. Books can be (and have) written on indiudual deals. As a result this book serves more like a compendium of M&A activity and its history with a few insights into the back door drama and mechanics employed in high profile M&A's. Although a touch on the dry side, it gives a flavor of some of the intricacies involved in some of the high profile M&A deals. Interesting reading and doesn't have to be read from start to finish i.e you can skip around to deals that pique your interest.

M&A tycoon Bruce Wasserstein has not just studied the high-stakes world of corporate mergers & acquisitions, he's lived it. As head of M&A at First Boston and then as leader of his own firm, Wasserstein has played a role in many pivotal corporate marriages. In these pages, Wasserstein comprehensively examines the hows and whys of history's largest deals. While skirting the fundamental question of whether mergers & acquisitions enhance or depress shareholder value over the long term, Wasserstein conveys an overwhelming amount of information about the dynamics and tactics that define M&A. The book is enormous and encyclopedic, so it might serve better as a reference text than a straight-through read. We from getAbstract strongly recommend this book for both its compelling historic accounts of Wall Street's most important deals and deal makers and its detailed breakdown of how the game actually works.

Mr. Wasserstein has written one of the most insightful, interesting books on the subject of M&A activity. The beginning of his book offers a concise, yet informative explanation of how the M&A and LBO businesses came about. A good history for those of us who may not be old enough to remember. The next part of the book deals much more in "big-picture" items. Why competitors in certain industries decided to start getting together, and what the political, regulatory and industry climate was at the time that drove such mergers. It is one thing to read newspaper stories of these deals-it is completely different when the story comes from the mouth of the banker who was sitting next to the CEO in the boardroom. The last section deals more in the nuts-and-bolts of doing actual deals. While on its own, it can get a little dry, this last section discusses a host of issues pertinent to getting a deal done, dealing with a number of political and regulatory requirements.

All in all, if you want to know the whole story behind those WSJ headlines, read this book. A great, in-depth study of what it is like advising on some of the largest deals this generation (or any other) has ever seen. Theory is great, but in the end, what counts is closing the deal, and this book tells how it all happens.

Bruce Wasserstein has managed to make the complex world of mergers and acquisitions as understandable as it can be exciting. He not only explains the intricacies of the transactions but does so in a way that the neophyte can quickly and easily grasp. He also paints fascinating portraits of the players involved. In so doing he puts flesh on the skeleton of the technical explanations. And of course there are the in depth and fascinating stories of the deals themselves- some with which the world is familiar and others of a more esoteric nature but all described in a page turning story tellers fashion.

This is the story from the inside. From a man who has participated in and observed some of the largest and most fascinating of corporate transactions. Fortunately not only is he an excellent M&A attorney but he's an excellent writer as well.

For those involved in transactions of this kind or who want to understand them better for investment purposes it's a textbook that will be referred to constantly.

And for those who are just interested in the drama of the deal it's a wonderful read.

M&A tycoon Bruce Wasserstein has not just studied the high-stakes world of corporate mergers & acquisitions, he's lived it. As head of M&A at First Boston and then as leader of his own firm, Wasserstein has played a role in many pivotal corporate marriages. In these pages, Wasserstein comprehensively examines the hows and whys of history's largest deals. While skirting the fundamental question of whether mergers & acquisitions enhance or depress shareholder value over the long term, Wasserstein conveys an overwhelming amount of information about the dynamics and tactics that define M&A. The book is enormous and encyclopedic, so it might serve better as a reference text than a straight-through read. We [...] strongly recommend this book for both its compelling historic accounts of Wall Street's most important deals and deal makers and its detailed breakdown of how the game actually works.