Mergers and acquisitions course

Date:
18 July 2019
Time:
9.00am-5.15pm
Location:
London

Member price: £1,083 + VAT

Non-member price: £1,275 + VAT


London, 18 & 19 July 2019
London, 16 & 17 September 2019
London, 18 & 19 November 2019

Email BPP to book


What you will learn

This two-day course examines the main processes and issues involved in acquisitions and disposals of UK companies.

Who should attend

This course is designed for those who are involved in buying or selling public or private companies, whether as principals or as advisers. Delegates should have an understanding of corporate financial statements but no prior M&A experience is required.

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Content

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

Raising the finance

  • 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

Location

London

Contacts

BPP
Tel: 0330 060 3303
Email: ldicas@bpp.com

Topics

  • Business and Financial management
  • England and Wales
  • Training courses
  • London and Home Counties

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