The aim of this course is to provide students with an understanding of the financial and strategic concepts applied to M&A, and a full recognition of the impact of corporate consolidation on shareholders and stakeholders.
The course will assist participants to:
- Appreciate the M&A activity in the context and state of the global economy
- Assess the corporate motives and the strategic rationales for M&As
- Evaluate the potential benefits of M&A and takeover transactions
- Address the key success factors
- Highlight the associate risks and potential disadvantages.
On completing the course, the participants will have the ability to evaluate issues related to the:
- M&A process from deal sourcing through transaction closing
- Strategic rationale for and against M&A
- Creation of synergies and firm value
- Different negotiating techniques and bidding strategies
- Commonly used takeover defences and tactics
- Deal valuation and financing
- Role of outside advisors and company management
- Regulators, the regulatory and tax environment
- Post-merger integration and other impacts of the M&A process.
- Introduction, Overview, and Definitions of M&A
- Types of M&A (Horizontal, Vertical, Co-generic, Conglomerate, Cross-border
- Motives for M&A
- The M&A Process – Structuring the deal
- Target Valuation
- Financing of M&A (Cash, Equity financing, Deferred payment, Hybrids)
- Leveraged buyouts (LBOs) & Special Purpose Acquisition Company (SPAC)
- Value creation and value destruction for shareholders
- Anti-Takeover Defences.