Objective and Focus: M&A deals primarily aim to create value through consolidation or strategic partnerships, while restructuring deals are focused on preserving or restoring value in distressed companies. 

Company Status: M&A deals typically involve healthy companies seeking growth opportunities, while restructuring deals involve financially distressed companies facing challenges such as debt burdens, liquidity issues, or operational difficulties. 

Deal Drivers: M&A deals are often driven by strategic considerations, market opportunities, or shareholder value maximization, while restructuring deals are triggered by financial distress, creditor pressure, or bankruptcy proceedings. 

Parties Involved: M&A deals typically involve two or more willing parties, while restructuring deals often involve a distressed company, its creditors, and various stakeholders. 

Legal Framework: M&A deals primarily fall under securities laws and corporate governance regulations, while restructuring deals involve bankruptcy laws, creditor-debtor relationships, and complex legal negotiations. 

Valuation Methodology: M&A deals typically employ discounted cash flow (DCF) and comparable company analysis (CCA) for valuation, while restructuring deals may involve distressed asset valuation techniques, debt restructuring considerations, and bankruptcy proceedings. 

Timeline and Execution: M&A deals typically follow a defined timeline with clear milestones, while restructuring deals are often characterized by urgency, uncertainty, and multiple contingencies. 

Skillset and Attributes: M&A bankers require strong analytical, negotiation, and strategic thinking skills, while restructuring bankers demand expertise in distressed finance, bankruptcy law, and complex negotiations. 

Analytical Expertise: Restructuring bankers must possess strong analytical skills to assess the financial health of distressed companies, evaluate restructuring options, and develop viable solutions. 

Financial Modelling Proficiency: Advanced financial modelling skills are crucial for analysing debt structures, forecasting cash flows, and assessing the impact of restructuring scenarios. 

Negotiation and Communication Skills: Restructuring bankers must be adept negotiators who can navigate complex negotiations with creditors, debtors, and other stakeholders. Clear and effective communication is essential for maintaining trust and achieving consensus. 

Stress Management and Adaptability: The high-pressure environment of restructuring demands strong stress management skills and the ability to adapt to rapidly changing situations. 

Legal Acumen: An understanding of bankruptcy laws, creditor-debtor relationships, and restructuring legal procedures is critical for navigating the complex legal landscape of restructuring deals. 

Problem-Solving and Creativity: Restructuring bankers must be creative problem solvers who can devise innovative solutions to address complex financial and operational challenges.