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.

22-Jul-2013 -- 23-Jul-2013New YorkUSD$2475
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ Jeffrey Hooke; ] Mon Tue Level: Intermediate

09-Dec-2013 -- 10-Dec-2013New YorkUSD$2475
NY Institute of Finance - Midtown9:00am - 4:30pm Instructional Method:
Group-Live
Instructor(s): [ Jeffrey Hooke; ] 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 learn to acquire?
  • Synergy

Attractiveness of Target Companies

    Acquisition Structure

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

    Sequence of Events

    • Initial negotiations to closing

    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

How Does the Integration Process Affect Value Creation?

  • Pre merger planning
  • Post merger planning

Valuation

  • Appraisal Principles
  • Valuation Methods

Financing the Acquisition

  • Financing mix
  • Consideration
  • Methods of payment

Anti-takeover Mechanisms

  • Poison pills and other defensive measures

Anti-trust Policies

Clients who register for this course will receive a complimentary 4-month subscription to FT.com. The Financial Times is the world's most respected financial newspaper, providing a broad assessment on finance, business and the industrial sector. The move to the electronic version follows an ongoing review of our environmental responsibilities as a global business and as part of the Pearson group. FT.com also has features that are not available in hard copy, such as: Special Reports, Alphaville, editor blogs, education sections and much more! Subscriptions will start within 6-8 weeks of the start of class and are limited to one subscription per client. (Please note: as of May 1, 2011, the electronic subscription replaces the hard-copy 3-month Financial Times subscription.)

Lunch is included for all students taking day classes.