Masterclass : Excellence in Mergers & Acquisitions

Masterclass : Excellence in Mergers & Acquisitions - 30 & 31 October 2017

Trainer: Arvind P. Mathur

Overview:

The course will benefit: acquirers, target companies, private equity funds, banks, regulators and hedge funds. Participants will learn to use key M&A tools & acquire the skills to navigate the M&A life-cycle successfully in Asia.

On Day 1, participants will learn the rationale of M&A, how synergies are identified and computed, the key success factors in M&A, handle valuation dilemmas and acquisition financing methods. The sale process will be explained, including controlled auctions, and the critical subject on how a seller can maximize the sale value and alternatively how targets can repel unwanted M&A attacks. Deal structuring will make clear the complex role of puts and calls in staged acquisitions.

On Day 2, participants will learn the advanced techniques of Leveraged Buyouts, how buyouts are originated and are executed, the strategies of some of the leading private equity buyout funds like KKR and Carlyle, and the role of the major investment banks like Goldman Sachs. Deal structuring, regulatory methods and due diligence techniques will also be explained.

Innovative Ideas and techniques will be illustrated by discussing case studies drawn from Asia, emerging markets and the advanced countries.

Who should attend ?

 - CEOs, CFOs, corporate treasurers and board members of companies

 - Investment bankers

 - Commercial bankers to gain knowledge of acquisition financing techniques

 - Private Equity players including sovereign wealth funds wishing to understand buyouts

 - Those aspiring to join private equity funds or Investment banking

 - Consultants and advisory firms

 - Private bankers, wealth managers and securities analysts

 - Hedge fund managers wanting to engage in merger/risk arbitrage

 - Lawyers wishing to understand the financial logic of M&A and buyouts

 - Government regulators: ministries of finance, central bank & stock market regulators

 - Risk managers

 - Structured finance professionals

 - CFA Charterholders, Chartered Accountants, Company Secretaries

Benefits of the Course

 - Learn how  to quantify  and capture  synergies

 - Learn how targets can repel unwanted attacks

 - Learn creative ways of financing acquisitions

 - Understand the dynamics of buyouts & how buyout funds operate

 - Understand what buyouts are, as well as their use and deal structuring including how puts and calls are applied in M&A

 - Understand  the regulatory issues of M&A  & the differences in M&A of listed & unlisted companies, including startups

 - Understand how hedge funds profit from merger/risk arbitrage

 - Understand how to bridge valuation gaps and the principles of real options valuation

 - Understand how M&A targets are identified and valued, including the principles of real options 

Course Outline :

Day One

M&A Rationale

• Types

• Synergies: Identification and Computation

• Key Success Factors in M&A

M&A Valuation - I

• Acquisition price & valuation methodologies

• Intrinsic value and Control Premium

• Precedent transactions & relevance of book values

M&A Valuation – II

• Earnouts

• Contingent value rights

• Purchase price adjustments: Cash-free debt-free valuation & Locked Box

 

Acquisition Financing

• Bridge Loans, Term Loans,

• Cash Shell, SPAC’s

• Financing Terms

• Case studies

The Sale Processes

• Negotiated Sale

• Controlled Auction - Advantages

• The Tender Process

• How value is maximized

M&A Deal Structuring

• Asset Purchase or Share Acquisition

• Form of Consideration: Cash or Shares or Securities

     • Put & Call Agreements  in M&A

     • Triangular & Reverse Triangular Mergers

     • Deal Protection, Lock-ups, Debt Push Down

• Carve-outs & Demergers

 

Day Two

Tactics

• Attack and Defense in M&A

• Hedge Fund Activism

• Case studies

Leveraged Buyouts

Rationale and Financing Structures

• Mezzanine Capital

• Strategies of KKR, Blackstone,

• Carlyle, Bain Capital

PE* in M&A and Buyouts

• How PE plays the M&A game

• Sovereign Wealth Funds in M&A

• Case studies

 

Playing by the Rules of M&A

• Regulatory Frameworks

• Takeover Codes

• FDI Regulations

• Hedge funds: Merger/Risk Arbitrage

M&A Due Diligence

• Purpose and Methods

• Results of Due Diligence

• Strategic Due Diligence

• Financial & Other Due Diligence 

Testimonials

“Information provided is very informative, practical and useful for work”

“Good case studies which demonstrated the concept of LBO” Mr. Wee, Oriel Management Consulting

“The speaker is well experienced in the industry and enjoyed the discussions made” Bernice, Duxton Asset Management

“Trainer is patient and facilitates discussion, which is more important than course content” Edmund, Singapore Exchange

“The workshop and the information provided plus the discussions provide useful practical insights to participants who are new to M&A activities” Jeffery Lee


This workshop is eligible for 14 CE credit hours


 Course Fee:

CFA Singapore member price : S$1,580* (Early Bird fee) / S$1,780* (Standard fee)

Non-member price : S$1,780* (Early Bird fee) / S$1,980* (Standard fee)

Early bird fee valid till 2 October 2017

* Prices before 7% GST

* 10% off Group Discount available

Please email eventmanagement@cfasingapore.org for more details.

Download course brochure here   |    Click here for our CFA Singapore official webpage

Arvind P Mathur, CFA

Arvind P. Mathur, CFA, FRM, has over 20 years Asia-Pacific private equity experience. He has held a variety of senior executive positions, including Head, Capital Markets at the Asian Development Bank and senior capital market roles at Citi and Standard Chartered Bank. Currently, Arvind is Chairman, Private Equity Pro Partners and has advised entrepreneurs on behalf of a major investment bank. Arvind’s experience encompasses private equity, corporate finance, M&A, investment banking and fund and direct investing in the emerging markets of Asia. In the mergers and acquisition arena, Arvind has worked on cross-border transactions in oil and gas, coal, banking and asset management. He has co-invested with sovereign wealth funds. He has been instrumental in the creation, structuring and placement of several major funds, including The India Infrastructure Fund (close to US$1 billion), The Asian Infrastructure Fund (US$780 million), The Asian Infrastructure Mezzanine Capital Fund (US$265 million), The Asian Equity Infrastructure Fund (US$400 million), and the Infrastructure Development Finance Company (IDFC). Arvind has been a member of investment committees and fund boards which have targeted investments in India, China and several other emerging markets of Asia. His extensive experience has spanned all aspects of private equity commencing from fund formation to investment to value addition to multiple types of exits. Arvind has worked on funds with the Asian Development Bank, the International Finance Corporation (IFC), CalPERS, La Caisse de Depot et Placement du Quebec, the Prudential Insurance Corporation of America and some of the leading institutional investors in Australia, Singapore, Malaysia and India.

DATE:
Monday, October 30, 2017-
Tuesday, October 31, 2017

TIME:
09:00 a.m.-05:00 p.m.

LOCATION:
TBC
TBC

Speaker(s):
Arvind P Mathur, CFA


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