Sign In
Manage PermissionsManage Permissions
|
Export Event

Title

M & A Deal Structuring and Merger Modeling

Event Description

M & A Deal Structuring and Merger Modeling

dInfuOGd_ Deal Structuring.jpg

Course Goals and Overview:

This course focuses on the mergers and acquisitions process, the basics of deal structures, and covers the main tools and analyses that M&A investment bankers and acquirers utilize. Learn about common ​​structural issues, crucial merger consequence analysis and structures and methodologies. Translate fundamentals into different modeling techniques, including the most basic and widely used back-of-the-envelope method, Accretion / Dilution, as well as a more robust combination analysis combining a Target and Acquirer's Income Statement. Learn how to sensitize basic deal structures and combination options. 

Learning Objectives:
  • Common structural issues in a transaction (stock vs. asset, 338(h)(10) elections)
  • Merger consequence analysis including accretion / dilution and financial implications of a deal
  • Build a fully functional accretion / dilution model that accounts for different transaction structures
  • Learn how to sensitize financial projections and the financial impact on a transaction
Course Sections:

M&A Deal Structuring​
  • Review of various deal considerations and deal structuring options (cash vs. stock)
  • Common structural issues in a transaction (stock vs. asset, 338(h)(10) elections)
  • Buyer and seller preferences for various deal structures and rationale
  • Tax implications of transactions based on deal structure and FASB 142 goodwill amortization
  • Merger consequence analysis including accretion / dilution and financial implications of a deal
  • Analysis of breakeven PE for both 100% stock and 100% cash considerations
  • Dive deep into merger accounting for your merger model including NOL treatment and FMV step-up
Accretion Dilution Modeling
Build dynamic merger consequence analysis (accretion / dilution) incorporating the following:

Synergies switch, cash vs. stock sensitivity
Amortization of goodwill switch (depending on purchase price allocation)
Common structural issues: Stock vs asset deals and 338 (h)(10) elections
Tax implications of transactions based on deal structure and FASB 142 goodwill amortization
Analysis of breakeven PE for both 100% stock and 100% cash considerations
Calculate pre-tax and after-tax synergies/cushion required to breakeven

Simple Merger Modeling
Construct a merger model, a simple combination of Income Statement for target and acquirer:

  • Project simple stand-alone Income Statement for both target and acquirer
  • Analyze selected balance sheet figures and ratios and multiples
  • Estimate target valuation and deal structure
  • Calculate selected Pro Forma balance sheet items
  • Combine target and acquirer's Income Statement and estimated synergies
  • Calculate cash flow for debt repayments to estimate debt repayments and cash balances
  • Compute interest expense and interest income based on pay downs
  • Calculate accretion / dilution and credit ratios
**IMPORTANT - PLEASE NOTE**

To maximize the educational value of these programs, we strongly recommend that you have an intermediate understanding of Excel. Lack of basic Excel skills will impede your ability to effectively acquire and implement the techniques and shortcuts that are presented in this program.  Our courses are extremely interactive, hands-on with intensive focus on Excel shortcuts and efficiency.

Bring a PC laptop with Microsoft Excel installed, and a working USB port (in case our email containing in-class materials gets lost in your junk/spam folder, we can distribute them via flash drive). If you can only bring a Mac, please avoid Office 2008 and ideally set up a Windows environment via Boot Camp, Parallels, or VMware.​

Event Type

Career; Educational

Education Topic

 

Start Time

4/4/2019 8:00 AM

End Time

4/4/2019 4:00 PM

City

Arlington

State/Province

VA

Event Country

United States

Event Region

Americas

Location Info

George Mason University - Arlington Campus
Founders Hall 320
3351 North Fairfax Drive
Arlington, VA 22201

Click here​ for map​​

Metro: Virginia Square (Orange and Silver lines)

*Parking Garage is available at Founders Hall 

Speaker

 

CE Credits

 

SER Credit

0.00

Currency

USD

Member Price

499.00

Non-Member Price

599.00

Candidate Price

599.00

Registration

Click here​​ to register​

**For CFAW Members 
Please login to receive member pricing.
 
**For CFAW Student/Candidate/Guest Members
Please enter the member discount code before you check out. If you have any issues registering online, click here to email.
 
The online registration system should now work for most browsers. If you are having trouble with the online registration,​ ​please register here with a manual form: ​M and A Deal Structuring and Merger Modeling Payment Form 04-04-2019.pdf
 
Discounts/Refund Policy
Group Discount:

Organizations are eligible for a 10% discount when registering three or more people for an event. All registrations must be received at the same time. Email all discount registrations together to events@cfawashington.org.

Cancellations, Substitution, and Refund Requests​
  • Substitutions are welcome at any time
  • Cancelations must be made in writing and emailed to events@cfawashington.org​​​​ on or before 5 business days prior to the event
  • No refunds will be processed after 5 pm ET, 5 business days prior to the event
  • A $25 administrative fee will be applied to all cancellations
  • Refunds will not be issued for no shows ​​

All Day Event

 

Recurrence

 

Location

 

Cost

 

Description

 

Begin

4/4/2019 8:00 AM

Attachments

Content Type: MyCFA Calendar
Created at 12/24/2018 7:13 AM by serena.roche@gmail.com[CASMSTS:username]
Last modified at 2/1/2019 9:53 AM by serena.roche@gmail.com[CASMSTS:username]