This course is designed to provide participants with a solid understanding of M&A theory and principles. After attending this course, Participants will be able to understand the factors that drive M&A activity and the critical success factors for a successful merger or acquisition.
- Overview of the Merger & Acquisitions landscape
- Types of Mergers
- Why do most M&A transactions fail to deliver Shareholder Value?
Case Studies of failed azquisitions (Daimler/Chrysler, AOL/Time Warner)
Characteristics of failed mergers.
- Characteristics of sccessful M&A transactions
An examination of critical success factors for acquisitions
- Process for acquiring a listed company
- Funding alternatives for an M&A transaction
- How funding is structured pre and post-acquistion for a listed company
Principles of Bridge Funding
Structuring a bridge
Take out mechanisms
- Initial Public Offering (IPO) Principles
Reasons for IPO
- Company Valuation on What is the value of a company?
BreakUp Value vs Going Concern
Market Valuation: p/e, market capitalisation
Valuation using other comparables
Valutations using Discounted Cash Flow method
Free Cash Flow
Calculating Weighted Average Cost
Calculating Primary period and Terminal Value cash flows
Enterprise Value vs Equity Value
- Leverage Buy Out (LBO) - What is an LBO
Typical capital structure of an LBO
Debt vs Equity financing
Modelling and LBO (Debt and Interest schedules)
Use of IRRs in decision making
- Principles of Private Equity/Hedge Funds
- Hostile Take Overs - What is a hostile take over
What makes a company vulnerable to a hostile take-over
Evolution of hostile take overs from the 80's to current times
Take Over Defences and strategies that can be employed by companies against a hostile take over
Shareholder considerations in respect of defence measures to be employed
- Shareholder Activism - What is Shareholder Activism (New form of hostile action?)
Typical demands and strategy of Shareholder Activists
How companies could avoid becoming a target for Shareholder Activists
How companies should respond when confronted by Shareholder Activists
- Date: 14 - 15 November 2023
- Duration: 2 days
- Time: 09:00 – 16:00
- Price: R11, 960 per person excl vat
- Facilitator: Please add the attached BIO
All sessions will be held: Virtually unless face-to-face is requested
Trainer Profile: Click here
All sessions will be held at the JSE Johannesburg, Sandton offices.
CPD points and training certificates will be issued for the attendance at the training.
Please contact [email protected] to book. Please note that space is limited so please book as soon as possible in order to avoid disappointment.
If you would prefer a tailored training session to take place at your company premises please do not hesitate to let us know and we can tailor a training package to suit your requirements.
By using a service provider to offer the courses, the JSE does not directly or indirectly endorse any product or service provided, or to be provided by the service provider.