PORSCHE + VOLKSWAGEN
Although the negotiations took three years, the friendly vertical merger between these German automotive giants in 2009 resulted in synergy valuation.
EXECUTIVE EDUCATION
EXECUTIVE EDUCATION
12 May 2021
11 weeks, online
5-7 hours per week
Special pricing up to 20% discount is available if you enrol with your colleagues. Please send an email to group-enrollments@emeritus.org for more information.
Limited Time Offer!
£1,800 £1,450
Mergers & Acquisitions is an online programme that prepares you to structure and execute a successful M&A deal. Over the course of 11 weeks, you will develop frameworks to identify opportunities, valuate a business for the sale, negotiate the deal and manage the post-merger integration. Practical and strategic, the programme is designed to help you realise maximum synergies for every stage of every deal, domestic or international.
There are indications that both buyers and sellers see the post-Brexit, post-COVID future as an era of opportunity. After a steep decline in M&A transactions in the UK in early 2020, a rebound fueled by high demand, low interest rates and optimism was already under way by June. In the first two months of 2021, global M&A activity was up 33% compared to last year. The UK alone rallied to a 70% increase in M&A transactions, February 2021 vs. February 2020.
SOURCE: Company Valuation Services UKThe innovative thinking at Imperial College London has made the school a worldwide leader in the fusion of business, technology and an entrepreneurial mindset. Imperial’s Mergers & Acquisitions programme delivers a strategic curriculum you can leverage right away to structure your own deal:
At the end of this 11-week online programme, you will be able to:
To help you understand the unique opportunities and challenges of mergers and acquisitions, this programme concentrates on the strategic and financial aspects of corporate restructuring. The goal is for you to gain clarity and confidence throughout the M&A deal cycle.
Begin the programme by introducing yourself to your global classmates and becoming familiar with the learning platform used throughout the curriculum.
Explore the finances of corporate restructuring, including elements of financing, growth strategies and the process for value creation.
Compare a range of models in the M&A universe, such as consolidation, subsidiary, hostile takeover and horizontal integration, examining each form for value creation.
Consider industry trends, the point of view and motivation of every M&A player, and the potential benefits and drawbacks of M&A.
Explore a range of strategic restructuring forms as alternatives to M&A, such as alliances, Employee Stock Ownership Plan (ESOPs), divestitures, joint ventures, carveouts and consortiums.
Identify key differences in the M&A process for the buy-side and the sell-side; examine valuation, pricing and financing issues; and prepare for due diligence in the transaction.
Takeovers require strategy, including preparation for possible defenses against hostile takeovers and negotiation and bidding techniques for the bargaining table.
Selling, transferring and consolidating the assets of two companies is a complex transaction, demanding solid negotiation, valuation, pricing and financing tactics.
When the ink is dry on the contract, the real work begins to maximise synergies and seamlessly combine core business interests in the post-merger integration process.
Overseas opportunities in emerging and developing markets are compelling but sealing cross-border deals depends upon specific M&A practices and priorities.
Learn more about roles and careers in the M&A process, from those searching for potential deals to investment bankers to lawyers dealing with documentation.
Begin the programme by introducing yourself to your global classmates and becoming familiar with the learning platform used throughout the curriculum.
Takeovers require strategy, including preparation for possible defenses against hostile takeovers and negotiation and bidding techniques for the bargaining table.
Explore the finances of corporate restructuring, including elements of financing, growth strategies and the process for value creation.
Selling, transferring and consolidating the assets of two companies is a complex transaction, demanding solid negotiation, valuation, pricing and financing tactics.
Compare a range of models in the M&A universe, such as consolidation, subsidiary, hostile takeover and horizontal integration, examining each form for value creation.
When the ink is dry on the contract, the real work begins to maximise synergies and seamlessly combine core business interests in the post-merger integration process.
Consider industry trends, the point of view and motivation of every M&A player, and the potential benefits and drawbacks of M&A.
Overseas opportunities in emerging and developing markets are compelling but sealing cross-border deals depends upon specific M&A practices and priorities.
Explore a range of strategic restructuring forms as alternatives to M&A, such as alliances, Employee Stock Ownership Plan (ESOPs), divestitures, joint ventures, carveouts and consortiums.
Learn more about roles and careers in the M&A process, from those searching for potential deals to investment bankers to lawyers dealing with documentation.
Identify key differences in the M&A process for the buy-side and the sell-side; examine valuation, pricing and financing issues; and prepare for due diligence in the transaction.
There are both cautionary and inspirational lessons to be learned from real-world takeovers. You will examine details of the following corporate restructurings:
Although the negotiations took three years, the friendly vertical merger between these German automotive giants in 2009 resulted in synergy valuation.
Designed to safeguard competitiveness for both car companies, this strategic merger in 1998 did not have the desired result, with Daimler later selling Chrysler at a loss.
In a creeping takeover, German media group Axel Spring employed hostile techniques in 2010 to get the better of the French online property company, SeLoger.
Notable as the largest merger of its kind in 1988, the acquisition was designed to allow Philip Morris to diversify from tobacco and Kraft to retain its independence.
The 2010 marriage between the Dutch bank group ABN AMRO and Fortis was a rocky and complex merger with several false starts and crises.
Video Lectures
Live Webinars
Weekly Assignments
Interactive Activities
Case Studies
Discussions & Polls
Dedicated Programme Support Team
Continuous Programme Access
With mergers and acquisitions ranked as Business Talent Group’s top development project for 2021, corporations are looking for leaders who can manage complex deals. Among the most in-demand skills are two critical areas for M&A specialists:
Due Diligence
Post-Merger Integration
Building on your business knowledge in accounting, finance, valuation, strategic management, and organisational behavior, this programme is designed to expand your skills in M&A techniques and transactions. It is particularly relevant for the following roles:
Senior Executives responsible for their firm’s growth, portfolio and investments, especially executives seeking to capture value through mergers to create synergies of revenue, cost, and capital. Representative roles may include:
Midlevel Managers responsible for accounting, valuation, research, financial modelling and smaller-scale investment decisions, particularly those seeking to transition to an M&A role and to build credibility and influence in deal making. Representative roles may include:
Consultants in investment banking and finance who are responsible for sourcing, executing and managing deals, as well as building relationships with investment banks and private investors. It is particularly valuable for consultants seeking to create value for companies and build expertise in deal management. Representative roles may include:
Legal Professionals working as legal counsel to investment banking, finance or law firms, especially those who ensure compliance for their clients, structure transactions, provide due diligence and prevent antitrust liability in mergers and acquisitions. Representative roles may include:
Marc Kitten
partner at Candesic Strategy Consultants
Marc Kitten is a partner at Candesic Strategy Consultants. He has 25 years of experience in transactions and financial markets and serves corporations and financial investors in the areas of corporate strategy and corporate finance. He serves on the boards of several fast-growing companies. Prior to co-founding Candesic, he was a consultant at McKinsey & Co. in London and a Vice President at Deutsche Bank in Frankfurt.
Kitten is also a lecturer in finance and strategy at various MBA and MSc programmes, with 10 years of teaching experience at Imperial College and other business schools in Europe. He lectures both graduate students and executives with a focus on three streams: Corporate Strategy, Corporate Finance, and Financial Markets.
He holds an MBA from the University of Chicago Booth School of Business, completed the Young Managers Programme at INSEAD and graduated from Edhec Business School in France.
Upon completion of the programme, participants will be awarded a verified Digital Certificate by Imperial College Business School Executive Education.
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