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18 November 2019

Mergers and acquisitions

Category: MASTER COURSE

An in-depth examination of the main processes and issues involved in the acquisition and disposal of UK private and public companies.

Who should attend?
All who are involved in buying or selling public or private companies, whether as principals or as advisers.

You should have an understanding of corporate financial statements but no prior merger and acquisition experience is required.

What you will gain
A full understanding of the M&A process from inception and search to completion, and of the issues which typically emerge during negotiation and completion.

Programme outline

  • Rationale for acquisitions and disposals: commercial justification; financial justification
  • Disposals – initiating the sale process: alternative disposal methods; identifying and short-listing purchasers; approaching potential purchasers
  • Disposals – the auction process: no-names teasers; confidentiality undertakings; the information memorandum; inviting and evaluating offers
  • Acquisitions - identification and evaluation: identifying potential acquisition targets; initial evaluation of targets; approaching the target: considerations and best practice
  • Public deals: transaction process overview; outline of regulatory issues; defence and attack strategies
  • Due diligence: scope of due diligence; vendor due diligence and data rooms; purchaser due diligence
  • Legal documentation: heads of agreement; break clauses and exclusivity agreements; sale and purchase agreement; warranties, indemnities, representations and disclosures, conditions precedent and subsequent; exchange and completion
  • Deal structuring - buying and selling assets vs shares: cash, loan stock, shares and alternatives as consideration; earn-outs, options and deferred consideration; tax considerations for the vendor and purchaser
  • Sources of finance and valuation: introduction to valuation: enterprise value - EV / EBITDA multiples, earnings per share (EPS) dilution and accretion; sources of finance: senior, mezzanine and other debt, ordinary, preference and other share capital, share swaps, rights issues, placings and vendor placings, options and warrants; determining an appropriate deal structure: practical and market considerations.

The course starts at 9.00am on both days.  Lunch and refreshments are included, but not accommodation.
12 CPD hours (where applicable).

CIMA work in partnership with BPP Professional Education to offer CPD training courses

Booking Information

Date Location Price
18 November 2019 - 09:00 London - two day course Price: GBP 1,290.00
Member price: £1,161. Plus VAT on all prices. Accommodation not included.

Mergers and acquisitions

CIMA members and students should log in to MY CIMA before booking to receive the appropriate discount.

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We can develop tailored training programmes to enhance the finance and business skills of staff across your organisation. To discuss how we can meet your learning and development needs please email us.

Find out more 
If you have any queries please email cima@bpp.com or phone us on: +44 (0)3300 603400.

The venue for this course will be confirmed 14 days before the scheduled date. 

CIMA work in partnership with BPP Professional Education to offer CPD training courses.  

This course will be delivered by BPP Professional Education Limited (“BPP”).  Accordingly, when you sign up for this course, CIMA will pass on the contact details you have provided to BPP so that they can contact you to complete your booking and process payment.  BPP will process any personal information it collects about you in accordance with its privacy policy, which is available at: http://www.bpp.com/professional-education/privacy

The information provided to BPP will not be used by BPP for marketing purposes.

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