Training

Inhouse

Price on request

Description

  • Type

    Training

  • Methodology

    Inhouse

  • Class hours

    6h

The destruction of shareholder value through ill-thought-out acquisitions is a well known feature of the M&A market. This course covers all aspects of an acquisition process from initial strategies for expansion through to planning, due diligence, negotiation, execution and the preparations for a successful integration. The major risks and problems likely to be encountered are highlighted with guidance for their avoidance or mitigation. Process and commercial failures are examined and the necessity for a sound acquisition plan is emphasised. Suitable for: Professional Advisers, Directors and Entrepreneurs

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Teachers and trainers (1)

Roger  Baden-Powell

Roger Baden-Powell

Training Director

Roger Baden-Powell qualified as a barrister and joined Joseph Sebag & Co., stockbrokers, as a property and insurance analyst. In 1978, he became a partner of the firm and was appointed head of equity research and a Member of the London Stock Exchange. As a corporate finance partner, he was involved in a number of IPOs, takeovers, rights issues etc., as the firm was official broker to over 100 quoted companies. Whilst with Joseph Sebag, he was seconded for two years as the London Stock Exchange Representative to the Executive of the City Panel on Take-overs and Mergers. From 1981-1987, he was a partner of Baden-Powell, Chilcott & Co., a City of London based corporate finance, new issues and investment management firm. Corporate finance activities included advice on acquisitions and mergers and general financial, commercial and legal advice. From 1985 to 1987, the firm acted as financial advisor and/or sponsor to twelve prospectus issues. The firm also owned minority interests in an insurance broking company and an advertising agency. From 1988-95, he was with Bank Mees & Hope NV, a Dutch merchant bank (a subsidiary of ABN-Amro) and, in 1991, was appointed managing director of the bank’s UK corporate finance and investment management subsidiaries and executive chairman of the bank’s UK private client stockbrokers, Shaw & Co.. Since 1996, he has been a director of Baden-Powell Associates Limited which provides Corporate Finance Training, Training Support for trainers and HR departments and Strategic Corporate Advice.

Course programme

The following sets out the content of the course in the approximate order in which it will be discussed during the day.

Introduction

  • Reasons for acquisitions
  • Process and commercial errors
  • Why acquisitions fail
  • Planning for success

Formulating the Strategy

  • Acquisition criteria
  • Searching for growth
  • Alternative strategies
  • The acquisition plan
  • Preparing the management
  • Measuring the risk
  • Locating and screening the targets
  • Assembling the professionals
  • Approach tactics

Investigating the Target

  • Commercial due diligence
  • Deciding on the price
  • Further due diligence
  • Evaluating the synergies

Guidelines on Negotiation

  • Establishing clear objectives
  • Representations, warranties & indemnities
  • Earn-outs
  • Assets or shares?
  • Pre-sale hive-down?

Integration

  • A merger of equals?
  • Handling staff and political problems
  • Effective internal & external communication
  • Implementing decisions

Buying a Company

Price on request