Successful Strategies for M&As
September 2010 Dubai - Contact us to find out about the dates
For M&A courses in LONDON click here.
2 Day Intensive Course for M&A, Corporate Finance, Acquisition Finance, Equity and Financial Analysts and Lawyers exploring Due Diligence, Deal Structuring and Financing Strategies.
Main topics covered:
- Rationale and objectives of M&As
- The latest market trends in mergers and acquisitions
- The Middle East M&A market
- Defining acquisition objectives and developing strategy
- Effective company evaluation and due diligence strategies
- Financing transactions
- Private and public deals structuring and processes
- Post-merger integration considerations
- Common mistakes and pitfalls to avoid in due diligence and transaction execution
- Key elements of international M&As
Run by a very experienced expert with proven tract record of international M&A deals this course focuses on practical aspects using real life case studies and discussing the latest market trends.
Description
M&A is a key element for many companies to maximise shareholders value and increase competitive advantage so important in current markets. Mastering the execution of all processes involved in mergers and acquisitions is therefore a key to success.
This intensive two day course will cover all stages of the M&A process with a particular focus on company evaluation, effective due diligence, optimal deal structuring and understanding financing strategies. We are also going to look at what makes the effective post-merger integration and at key elements to consider in the international M&As.
You will get the tools to manage this complex processes, from identifying your acquisition strategy, to structuring the deal and finance it and finally prepare the ground for successful integration.
The course aims at participants who have some experience but would like to improve their knowledge and broaden horizons to additional aspects of the M&A process.
What Will You Learn By The End Of This Training
By the end of this training delegates will have sound understanding of M&A strategies and processes and will be able to:
- Set up clear objectives for a deal and follow them through the process
- Conduct effective company valuation which help secure funds from investors and banks
- Gain strategic tools for due diligence process
- Estimate necessary funds for the deal completion
- What are the main ways of financing the deal and how to apply the best mix
- Understand processes involved in structuring private and public deals
- Calculate accretion/dilution impact given different various financing alternatives
- Understand main processes for post-merger integration
- Assess key elements for international M&As
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.
Delegates are expected to bring a laptop with Microsoft Excel. If necessary, we can provide laptop for an additional fee of £100 + VAT.
DAY 1: STATEGY & STANDALONE VALUATION
Strategy and the economics of M&A
Economic analysis
- Market share consolidation
- New market entry
- Model of development
Case study: Santander – Abbey
Organisational analysis
- De-merger
- Minority interest
- Disposals of non-core assets
Constraints
- Shareholders’ dilution
- Process and Integration
- Financing
- Anti-trust
Case study: The European Commission and Schneider – Legrand
Developing an acquisition strategy
- Define your acquisition objectives
- Establish specific acquisition criteria
- Selecting advisors
- Is it the right target? How is the company's wish list determined?
Is the market going to like the deal? Why?
- What is the economic vision in the deal that justifies it?
- How much dilution in the buyers' stock price will there be?
- What does it take after doing the deal to make it all work?
Standalone valuation tools
- Asset-based and balance-sheet approaches
- Market value approaches
- Multiples and comparables
- Enterprise value and EBITDA
- Establishing required rates of return
- Free cash flows to equity
- Free cash flows to firm
- Dividend- and cashflow-discount model
Exercise: Valuation of a company using different methodologies
DAY 2: M&A PROCESS, INTERNATIONAL ISSUES AND FINANCIAL IMPACT
M&A: Financing the transaction
- Equity issuance
- Use of debt
- Review of different capital structures
M&A: Value creation
- Value creation chart: target vs. acquirer
- Impact of synergies and control premium on value creation
Exercise: A detailed example on wealth creation
M&A: Accretion/dilution
- P/E of acquirer vs. P/E target vs. cash P/E
- Accretion/dilution under different financing structures
Exercise: Calculate accretion/dilution impact given various financing alternatives
M&A: Pro forma financial statements
- Impact on income statement
- Impact on balance sheet
- Goodwill and impairment testing
Exercise: Combine the income statement and balance sheet of 2 companies
Public Transactions: The process
- What are the rules
- General principles
- Major regulations for conduct of public bids
- Timetables for friendly and hostile bids
- Pricing
- Conditions
- Documentation
Private Transactions: The process
- Options for selling a private business
- Motivations of sellers and buyers
- Running a private sell-side transactions: the 4 Key Stages
- Preparation and pricing
- Finding the buyer(s)
- Building up the bids
- Closing the deal
Key elements of private transactions deal documentation
- Information memorandum
- Sale and purchase agreement
- Representations and warranties
- Earn-out agreements
Case study: Review and comments on key documents
Post-merger integration considerations
- Closing the deal
- Major factors determining success of postmerger integration
- Checklist of areas of risk
- Compensation and motivation issues
- Setting milestones
- Divestitures
Key elements of international M&As
- Key considerations: legal, tax, structuring, regulatory, anti-trust
Case study: Analysis of the major issues of the Daimler-Chrysler merger
Qayyum Hafeez
Qayyum has over 13 years of investment banking and private equity experience. He is currently working as a senior vice president in GCC based private equity fund in an investment bank in oil and gas industry. His role there is to source, evaluate and invest in private equity and execute M&A and joint venture opportunities in oil and gas industries in the Middle East region. Prior to this, Qayyum was a principal at Odeon Capital Partners, a $120 million private equity fund based in New York City and before in Bear Stearns' Mergers & Acquisitions and Leveraged Finance investment banking groups in New York where he was involved with multi-billion dollar transactions in retail, consumer products, technology and manufacturing industries.
While he was living in New York City from year 2000 through 2008, Qayyum was involved in many teaching and training engagements at university and corporate level. He was a guest speaker at New York University's Stern School of Business as well as taught a full-term MBA course at the Long Island University. His teaching experience include workshops at New York Private Equity Network the association which has over 500 active members.
September 2010 Dubai
Early Bird before 31 July - £1850
Regular price: £1995
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DISCOUNTS
BIG GROUP SAVINGS!
- 2 people 5% and 3 people - 10% discount. Delegates have to be from the same company and book at the same time.
- If you book for 2 courses at the same time you will receive 10% of the full value of the cheaper course.
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
