Overview

Primarily based on recent, real case studies, this intensive summer program will allow participants to master the key mergers and acquisitions practices. Learning will range from how to originate a deal, structure it, and complete its final execution. Following the program, students will understand how an M&A deal can create value for shareholders and for firms. The primary techniques of share exchanges, acquisitions financing and take-over defenses will be studied. Through case studies and business games, students will learn how to negotiate a valuation from the position of “expert”, “buyer” or “seller”.  Valuation of new companies’ will be explored within the framework of a capital increase, a disposal or a listing.Mergers and Acquisitions case studies will provide participants with real expertise based on recent international transactions. Fundamental mergers and acquisitions terms and techniques will be developed, including certain complex company integration tools. Participants will learn how to build-up Excel modelling to value synergies related to a Mergers and Acquisitions transaction. Specific financial transactions such as the buyout of a firm by its managers or deferred payment schemes will be developed.

Learning outcomes

Upon completion of this intensive program, students will be able to:

  • Understand the key variable involved in M&A decisions
  • Analyse target selection and analysis
  • Decide and implementation offering including deal financing
  • Negotiate the most relevant premium to optimize Synergies’ value creation
  • Build a comprehensive and ready-to-use M&A model
  • Master due diligence processes, Mergers and Acquisitions techniques
  • Understand the concept of signalling theories, valuation of minorities, illiquidity impact, holding structure
  • Structure properly a deal in term of tax impact including Acquisitions versus asset buying
  • Be familiar with takeover defences, leverage buy out, mezzanine debts, earn out, special M&A techniques: carve-out, contingency value rights