Distressed Mergers with Scott Moeller
In-house
Following the Great Recession of 2007 - 2009 there are a number of distressed and insolvent companies that are available for acquisition. Current market conditions provide a unique opportunity to acquire assets at a price much lower than previously possible.
Presenting some results from proprietary research conducted at the M&A Research Centre at Cass Business School this course will provide participants with tools required to analyse which deals are successful and why. A number of case studies including the acquisition of Merrill Lynch by Bank of America and Lehman Brothers' US business by Barclays Bank will be discussed in-depth. Group break-out sessions will also allow participants to identify the critical success factors in making distressed deals work.
By the end of this course you will:
- Learn in which industries there are distressed acquisitions and why
- Understand the differences between distressed and bankrupt/insolvent acquisitions
- Assess timing issues - when is the best to acquire
- Explore special due diligence issues in distressed acquisitions
- Discuss critical success factors post-acquisition
The programme is run by Scott Moeller, Director of the M&A Research Centre at Cass Business School, former senior executive at Deutsche Bank and Morgan Stanley and an author of several acclaimed books on mergers and acquisitions.
Description
Following the Great Recession of 2007 - 2009 there are a number of distressed and even bankrupt / insolvent companies that are available for acquisition. These deals may appear to be a unique opportunity to acquire assets at a price much lower than previously possible, and perhaps lower than would be likely when the global economy recovers in the next several years. A large number of companies have entered into deals in the past several years with these distressed companies, some successfully and others not.
This course looks at the characteristics of a distressed acquisition. Through proprietary research conducted at Cass Business School together in the M&A Research Centre, this course will discuss these deals and which tend to be successful and why. In addition, the opportunity to consider joint ventures and strategic alliances is considered, as research also conducted at Cass has shown the several years immediately following a recession to be the most active for successful joint ventures.
Main Topics Covered During This Training
- Overview of the distressed acquisitions market
- Which sectors are participating more and why?
- Timing issues related to acquiring distressed acquisitions
- Due diligence
- Critical success factors post-acquisition
Who Should Attend
From Banks, Corporates, Consultancies, Accounting and Legal Companies: Heads, Managers and Executives from:
- M&A Departments
- Acquisition Finance
- Corporate Finance Officers
- Corporate Finance Lawyers
- Corporate Treasurers
- Equity Analysts
- Financial Analysts
- Securities Analysts
Teaching Method
This is a highly practical course with many real life case studies and exercises. Tutor will be focused on teaching practical strategies that can be taken back to your business and put into immediate effect.
You will benefit from comprehensive take away course documentation.
In order to help us establish your individual and business concerns, you will be asked to fill pre-course questionnaire.
Because of the nature of the course the number of places is limited and will be filled on first come, first accepted basis. We advise to book in advance in order to avoid disappointment.
Distressed Mergers - A 1 Day Programme
Session 1 - Overview of the market and the latest trends
Overview of distressed acquisitions
- Which distressed industries and why?
- Differences between distressed and bankrupt / insolvent acquisitions
- Sales and purchase agreement issues in distressed deals
Session 2 - Timing
- Timing issues in acquiring distressed assets
- When is the best time to acquire?
- Actions to take at each point in the process
Session 3 - Due diligence
Special due diligence issues in distressed acquisitions
- Sources of due diligence
- Which issues in distressed deals
- External vs internal review
Session 4
Critical success factors post-acquisition
- Post acquisition leadership
- Immediate actions required
- Communication
- Cultural and speed issues
- Monitoring systems
Case studies:
- Bank of America - Merrill Lynch
- Barclays - Lehman Brothers
This course will use a number of case studies of actual deals, including a detailed look at the recent distressed deals in the financial services sector (including, but not limited to, the acquisition of Merrill Lynch by Bank of America and Lehman Brothers' US business by Barclays Bank).
Group exercises
Group break-out sessions will also allow participants to identify the critical success factors in making these deals work and why many of these deals fail.
Scott Moeller
Scott is the Director of the M&A Research Centre (MARC) at Cass Business School, which is the first such research centre at any leading business school globally. He is the former CEO and Director of Executive Education at Cass where he teaches Mergers & Acquisitions in the MBA and MSc programmes and Corporate Entrepreneurship, which highlights the ways that individuals and large companies can be more entrepreneurial. His Mergers & Acquisitions discussions cover a broad range of topics but have recently focussed on how companies are now being more successful with their acquisitions and also how individuals should prepare for and even prosper from being in a company that has been acquired or merged.
Scott has been a visiting lecturer at Imperial College (London) and Oxford University, and is an accredited executive coach. Scott is a frequent commentator on business issues on television (BBC, CNN, Bloomberg, CNBC) and in the press (Financial Times, Sunday Times, Independent) and has written for the Wall Street Journal. His book, ‘Intelligent Mergers: Navigating the M&A Minefield’ was published in June 2007. Scott’s new book ‘Surviving M&A - Make the Most of Your Company Being Acquired’ provides practical tips and real–world advice for thriving professionally in the midst of a major M&A deal.
During his six years at Deutsche Bank, Scott was Managing Director and Global Head of the bank’s corporate venture capital unit, Managing Director of the Investment Bank's Global eBusiness Division and Managing Director of the department responsible for world-wide strategy and new business acquisitions. He was also responsible for Deutsche Bank’s Investment Banking Division’s transition to the Euro.
Scott worked first at Booz Allen & Hamilton Management Consultants for over 5 years and then at Morgan Stanley for over 12 years in New York, Japan, and most recently as co-manager and then member of the board of Morgan Stanley Bank AG in Germany. Scott has held a number of other board seats throughout Europe, Africa, Asia and the Americas and is currently a non-executive director on several boards. He is an honours graduate of Yale College, Yale Graduate School and the Yale School of Management.
IN-HOUSE TRAINING
- If you have a team of 4 or more this course can be customised and organised in-house at your convenience. Contact one of our advisors to find out more.
Call us now on +44 (0) 207 193 5035
or send an e-mail to: enquiry@eurekafinancial.com
