Mergers & Acquisitions

Pricing

Cost for BPP PD Members: £980 + VAT 12 CPD Hours
(£1230.00 + VAT for non BPP PD Members Click Here for details of our membership scheme).

Course Level

Intermediate

Delegates

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.

Course content

This two-day course examines the main processes and issues involved in acquisitions and disposals of UK companies. (NB. It does not address regulatory issues in detail; this is the subject of our separate course, Takeover Regulation - The Blue Book .)

Learning outcomes include obtaining an understanding of:

  • 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


    "A CPD certificate of completion will be provided by BPP Professional Education Limited upon request, following attendance."


    Course Dates

    Location Dates Time Availability  
    London 27 - 28 Jul 2017 9:00 AM - 5:15 PM  Spaces Book Now
    London 25 - 26 Oct 2017 9:00 AM - 5:15 PM  Spaces Book Now
    London 14 - 15 Dec 2017 9:00 AM - 5:15 PM  Spaces Book Now

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