Introduction to Mergers and Acqusitions

This two-day course is designed to equip Corporate Banking professionals with an overview of corporate finance and mergers and acquisitions fundamentals, enabling them to have a broader perspective of their the market and of clients’ activity, creating a strong foundation for them to then identify possible new options and angles for the bank’s involvement in M&A activity.

We will initially examine the main corporate finance decisions facing any company, covering key concepts such as free cash flows and net present value, focussing on real-life relevance and the underlying business realities. We will then build on those concepts to dive into the world of M&A, initially providing a bird’s eye view of the M&A market both globally and regionally. We will review the main actors on the market and their particular interests and concerns, enabling participants to understand where value can be unlocked in M&A. The course will provide a comprehensive view of how companies should identify acquisition targets and the key areas of analysis in terms of the post-acquisition strategic fit, to anticipate the potential success of the merger or acquisition. Furthermore, delegates will become familiar with the key valuation methods used for both mature companies and earlier-stage players. Case studies and examples will be used throughout the course to bring concepts to life, foster delegate engagement and link the material to delegates’ professional activity within the bank.

After attending the programme, delegates will:

• Understand the role and fundamental concepts of corporate finance, including time value of money and risk vs return
• Be familiar with the main methods for assessing projects when making an investment decision, including net present value
• Understand the main actors in the M&A market and the differences in interests and behaviour between strategic and financial investors (e.g. private equity funds)
• Have a solid grasp of the rationale of M&A compared with organic growth or joint ventures
• Be aware of the critical importance of synergies between the parent and acquisition target
• Learn lessons from successful and unsuccessful international mergers and acquisition
• Identify the key business areas of the target company that need to be analysed as part of the acquisition
• Understand the importance of identifying and enhancing synergies between the parent and acquisition target to increase the success of the M&A deal
• Review the different methods and most effective methods to value a target company including discounted cash flow forecasts to maximise investment return
• Apply the knowledge obtained as part of the course to identify opportunities and angles for CIB involvement in their ongoing activity