Contact Us

Please contact us today to discuss the best programme which can help you achieve your objectives.

City Training UK
100 Pall Mall
Saint James
London SW1Y 5NQ
United Kingdom

+44 (0) 203 815 6530

About Us

City Training is a world leading provider of premium public courses, in-house training and courses for universities and schools.

City Training was founded and is currently managed by several ex-investment bankers who are trainers themselves and passionate about training. 

Read more…

canstockphoto2153601

Mergers & Aquisitions

Thursday 29 March 2018 London
Price: £750 + VAT
Registration close on Friday 23 March 2018
 

This propramme has been designed to develop the participants’ understanding of Mergers & Acquisitions (“M&A”).

Key Topics

  • Differentiate between a public and a private M&A process
  • Understand the timing and key elements of a tender offer
  • Analyse the key steps for the different private M&A processes
  • Detail the main documents present in an M&A transaction
  • Explain where synergies are derived from
  • Based on annual reports and forecasts, perform all the key valuation methodologies: DCF, trading multiples and LBO
  • Understand the different forms of consideration and financing available
  • Analyse the key metrics looked at by an acquirer: accretion/dilution, pro forma balance sheet, synergies paid away, etc.
  • Differentiate between the different divestitures alternatives and understand their key impacts 

Who Should Attend?

  • Financial analysts in investment banks
  • Associates in investment banks
  • Strategy and Corporate Development professionals
  • Finance, legal professionals involved in M&A
  • Equity Research
  • All other interested Finance professionals

Paul has 8 years of experience in investment banking at bulge-bracket firms.

Paul began his career in Investment Banking at Morgan Stanley in London where he worked on a variety of M&A transaction mainly for media and telecommunication clients.

Paul then worked as a Vice-President at UBS in London in the Telecommunications team where he completed more than £25 billion of transactions.

Paul is now a partner in an M&A boutique focused on Technology in Paris. He also delivers courses for global financial institutions in the City of London and around the world, in the areas of Corporate Finance, Valuation and M&A.

John graduated from HEC in Paris and has an MBA from Harvard Business School.

Session 1

Corporate Growth

  • Overview of growth strategies

‒      Greenfield/organic
‒      Joint ventures
‒      Acquisitions

  • Advisers and their roles

‒      Types and remuneration

Session 2

Private Transactions

  • Type of transactions : auction, competitive process, bilateral negotiation
  • Timetable and process

Session 3

Public Takeovers

  • Public takeovers vs. private transactions
  • General principles of the takeover code
  • Mandatory offer
  • Squeeze-out mechanism
  • Offer price
  • Counter-offers
  • Timetables
  • Bidder’s strategy and tactics
  • Target’s defense strategy and tactics

Session 4

Key M&A Documents

  • Definition
  • Non Disclosure Agreement (NDA), Information Memorandum
  • Sales and Purchase Agreement (SPA), shareholders agreement, management agreement

Session 5

Due Diligence

  • Definition
  • Private vs. public transactions
  • Timing
  • Key areas covered

Session 6

Synergies

  • Types of transactions
  • Types of synergies: operational, financial and tax
  • Phasing of synergies
  • Restructuring costs
  • NPV of synergies

Session 7

Asset vs. Share Purchase

  • Key considerations and structuring for an asset purchase
  • Review of a share purchase

Session 8

Consideration and Financing for an Acquisition

  • Key considerations and structuring for an acquisition
  • What financing are available for an acquirer?
  • Deal Impact
  • Review of key impact of a transaction: EPS, RoI, leverage, ownership dilution, premium paid vs. synergies
  • Examples for EPS and premium paid vs. synergies

Please contact us today to discuss the best programme which can help you achieve your objectives.

City Training UK
100 Pall Mall
Saint James
London SW1Y 5NQ
United Kingdom
+44 (0) 203 815 6530