NYIF: M&A: Concepts and Theories

• Recognize the common motivations for acquisitions and the reasons many are unsuccessful.
• Identify the methods of structuring a business acquisition.
• Evaluate the intrinsic and relative valuation methods for target companies.

Session 1: Overview and Buyer Strategies

• Lesson 1: Global M&A
• Lesson 2: Emerging Market M&A Issues
• Lesson 3: The Buyer’s Viewpoint
• Lesson 4: Three Ways M&A can Increases Value
• Lesson 5: Buy vs. Build Synergies
• Case Studies

Session 2: Finding a Deal

• Lesson 1: Starting the Acquisition Process
• Lesson 2: Characteristics of Successful Acquisitions
• Lesson 3: Key Risks and Failed Deals: Case Study
• Case Studies

Session 3: Pricing the Deal

• Lesson 1: Valuation: Approaches and Methodologies
• Lesson 2: Discounted Cash Flow Approach
• Lesson 3: Public Companies
• Lesson 4: Comparable Acquisitions and Leveraged Buyout Valuation
• Case Studies

Session 4: Special Valuation Cases

• Lesson 1: Emerging Markets
• Lesson 2: Money-losing or Erratic Track Records
• Lesson 3: Industry Specific Multiples
• Lesson 4: Natural Resource Companies
• Lesson 5: Speculative Hi-tech Firms
• Lesson 6: Sum of the parts Companies with Several Different Business Lines
• Lesson 7: M&A Free Cash Flow Analysis
• Lesson 8: Premiums and Discounts
• Case Studies