Merger and Acquisition Modelling
What you'll learn
- Learn how to construct a flexible, integrated merger model for 2 businesses
- Analyse the pro-forma credit ratios and combined profit metrics post-merger
- Construct sensible financing assumptions for the deal (combining debt and equity)
- Apply best-practice modelling techniques to perform the modellinga and analysis
- Create a model that can be used as a template for other deals to be analysed
Requirements
- This course assumes a sound grasp of core financial modelling (in excel) techniques and an awareness of some of the accounting issues - such as goodwill and fair values, but this will be illustrated in the course.
Description
This intensive video-based course assumes a sound grasp of financial modelling techniques and awareness of the current accounting implications of M&A transactions.
During the course, delegates will construct a flexible integrated merger model capable of analysing the pro-forma credit ratios and combined profit metrics of a proposed transaction whilst also building the functionality to identify the optimal capital structure to be used to finance an acquisition. Best practice financial modelling and accounting techniques will be applied throughout.
Merger modelling presents a completely different accounting and technical challenge to preparing an integrated forecast for a single business. This course and the model built is relevant to both equity, debt and credit analysts and corporate financiers who are potentially involved in the origination of or financing of acquisitions.
In the programme we will produce a complete forecast for the recent acquisition of Shire Pharmaceuticals by Takeda of Japan and see the huge impact of the fair value adjustments in this transaction.
At the end of the programme delegates will:
Be able to model a merger from scratch and more effectively populate and interrogate template merger models;
Model all aspects of a merger including
goodwill and fair value adjustments,
refinancing
fees and correctly accounting for the different types
consolidation adjustments
synergies, nil-dilution synergies and control premia
deal sensitivity and establishing an optimal financing mix based on target pro-forma credit metrics
Who this course is for:
- This course is ideal for finance graduates or new hires in the investment banking / corporate finance world, or those looking to venture into that area. The model you create is a realistic template of how these deals are analysed in the real world!
Instructor
- 4.5 Instructor Rating
- 69 Reviews
- 1,317 Students
- 4 Courses
Capital City Training is a full-service technical training company focused on the banking, wealth management and broader financial services and accounting industries.
We provide engaging, challenging, high quality training across the spectrum of hard technical skills needed in banking, investment banking, fund management and wealth management, as well as coaching and management development. Capital City also provides eLearning and distance learning packages for core skills such as accounting and analysis, financial maths, modelling and valuation.
Our e-learning programs are designed to recreate the classroom experience as closely as possible - with expert tutors explaining concepts clearly, illustrating with examples and then providing delegates with exercises to practice what they've seen, with a full tutor debrief - we all learn by doing! We combine training expertise and highly credible practical experience together to give relevant high impact courses.
Capital’s style is guided by some basic principles of adult learning, namely:
- Adults are task focused, they learn by doing;
- Adults are social, they engage with tasks and assimilate information better when working in a group;
- Adults are competitive.
In all areas of our training, we stimulate and engage delegates through involving them actively in:
- Contemporary, real-world case studies
- Group exercises
- Excel modelling, where relevant
Your expert tutors - Greg and Mark - have worked in banking and finance for many years before co-founding Capital City Training in 2010. Our clients include banks across the world, where we deliver tailored solutions on top of our core skills programs.
Greg Mayes, ACA CFA AMCT, qualified as an accountant with Ernst & Young in London, and before setting up CCT was Global Head of Financial Markets Training at Barclays Capital (now Barclays Investment Bank).
Mark Woolhouse graduated from St John’s Oxford and entered the banking world, training with JP Morgan in New York and subsequently working with one of JP Morgan’s London based affiliates, Saudi International Bank. He then worked with the UK merchant banks Hill Samuel and Charterhouse.