Mergers and Acquisitions - Concepts and Theories

This program provides a comprehensive overview of the major facets of the industry and the skills engaged in executing transactions. The anatomy of a deal from inception to post-merger integration is covered. The workshop addresses theories underlying M&A, domestic and global transactions, as well as key legal and accounting issues. The program is designed to provide executives and professionals with an understanding of basic M&A principles and analysis grounded in the context of current market dynamics.

13-Oct-2008 -- 14-Oct-2008StamfordUSD$2375
NY Institute of Finance - Stamford, CT9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ NYIF Instructor; ] Mon Tue Level: Intermediate
CPE Credits: 14.0

01-Dec-2008 -- 02-Dec-2008New YorkUSD$2375
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ NYIF Instructor; ] Mon Tue Level: Intermediate
CPE Credits: 14.0

This course is suggested for financial analysts/managers, bankers, strategic planning professionals, financial decision-makers in corporations, corporate finance lawyers, corporate finance accountants, financial management consultants, market regulators and professionals interested in the nuts-and-bolts aspects of M&A analysis and valuation.
No advance preparation required.
Students will be able to:
  • Recognize the common motivations for acquisitions and the reasons many are unsuccessful.
  • Identify the methods of structuring a business acquisition .
  • Evaluate the intrinsic and relative valuation methods for target companies.
  • Follow the sequence of events of a typical transaction.
  • Examine the structure used in financing M&A transactions.
Attendees should have a proficient knowledge of financial analysis.
"Outstanding depth of knowledge from instructor"
"The practicality of this course makes it unique, as you can literally apply what you have learned in a real M&A scenario."
"The instructor surpassed expectations of this course by giving us insights as to how M&A's are done in the real world."
DAY 1

Mergers and Acquisitions Overview

  • M&A market trends
  • Why acquire?
  • Key concepts

Key Drivers of a Successful Acquisition

  • What creates value in an acquisition?
  • Why do some acquisitions fail?
  • Academic research
  • Can firms lean to acquire?
  • Synergy
Case Study

Attractiveness of Target Companies

    Case Study

    Acquisition Structure

    • Asset purchase
    • Share purchase
    • Merger
    • Hostile
    • Acquisition accounting fundamentals
    Examples

    Sequence of Events

    • Initial negotiations to closing
    Case Study

    Documentation and Agreements

    • Confidentiality agreement
    • Letter of intent
    • Stock purchase agreement
    • Asset purchase agreement
    • Fairness opinion

DAY 2

Managing for Value Creation

  • Key managerial success factors
  • Merger planning - start at the top
Case Study

How Does the Integration Process Affect Value Creation?

  • Pre merger planning
  • Post merger planning
Case Study

Valuation

  • Appraisal Principles
  • Valuation Methods
Case Study

Financing the Acquisition

  • Financing mix
  • Consideration
  • Methods of payment
Case Study

Anti-takeover Mechanisms

  • Poison pills and other defensive measures
Company example

Anti-trust Policies

Clients who register for this course will receive a complimentary 6 month subscription to the Financial Times and FT.com. The Financial Times is the world's most respected financial newspaper providing a broad assessment on finance, business and the industrial sector. Subscriptions will start within 6-8 weeks of the application process, and are limited to one per client. For questions about your subscriptions call 800-628-8088 or email uscirculation@ft.com. US and Canada enrollees only.

Lunch included for all students taking day classes.