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Mergers & Acquisitions

BPP Professional Education
Course summary
12 hours
1,290 GBP excl. VAT
London
Next available date: 18/11/2019 - London

Course description

Mergers & Acquisitions

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.)

Suitability - 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.

Outcome / Qualification etc.

Training Course Content

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

About provider

BPP Professional Education

BPP Professional Education -  Accountancy, Tax, Financial Services, Law & Insolvency Courses

BPP Professional Education is one of the specialist examination-based and professional development training arm of the BPP Group, Europe's biggest professional education and publishing provider with 2,000 staff members across 40 countries and over 30,000 students per year. BPP Professional Education...


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BPP Professional Education

3 London Wall Buildings
EC2M 5PD London

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www.bpp.com

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