Mergers & Acquisitions

Valuate, Structure, Negotiate & Manage

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Course Dates
LAST DAY TO ENROL

Course Duration

DURATION

11 weeks, online
5-7 hours per week

Course Fee

Maximise Value for Every Deal

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.

Why Now?

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 UK

Why Imperial College Business School?

The 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:

  • Compare various M&A models and understand how each can create value.
  • Evaluate M&A in a global context as preparation for cross-border schemes.
  • Master proven valuation and negotiation tactics.
  • Explore relevant M&A case studies.
  • Receive personal support from a dedicated Learning Team throughout the programme.
  • Earn a verified Digital Certificate from Imperial College Business School Executive Education.

Key Takeaways

At the end of this 11-week online programme, you will be able to:

  • Recognise the various forms of corporate restructuring and their potential value.
  • Identify the differences, functions, benefits and challenges of M&A.
  • Illustrate the M&A process, including structuring, negotiating and valuating.
  • Explain the factors and process for successful post-merger integration.
  • Identify the responsibilities of each player in an M&A deal.

What You Will Learn

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.

Week 1:

Programme Orientation

Begin the programme by introducing yourself to your global classmates and becoming familiar with the learning platform used throughout the curriculum.

Week 2:

Corporate Finance and Strategy – Review of Relevant Concepts

Explore the finances of corporate restructuring, including elements of financing, growth strategies and the process for value creation.

Week 3:

Mergers & Acquisitions (M&A) – Background

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.

Week 4:

Motives, Strategies and Empirical Performance 

Consider industry trends, the point of view and motivation of every M&A player, and the potential benefits and drawbacks of M&A.

Week 5:

Forms of Corporate Restructuring

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.

Week 6:

M&A Process

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.

Week 7:

Takeover Tactics and Defenses

Takeovers require strategy, including preparation for possible defenses against hostile takeovers and negotiation and bidding techniques for the bargaining table.

Week 8:

Hyper Leverage as an M&A Defense

Selling, transferring and consolidating the assets of two companies is a complex transaction, demanding solid negotiation, valuation, pricing and financing tactics.

Week 9:

After the Deal

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.

Week 10:

International M&A

Overseas opportunities in emerging and developing markets are compelling but sealing cross-border deals depends upon specific M&A practices and priorities.

Week 11:

M&A Industry and Careers 

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.

Week 1:

Programme Orientation

Begin the programme by introducing yourself to your global classmates and becoming familiar with the learning platform used throughout the curriculum.

Week 7:

Takeover Tactics and Defenses

Takeovers require strategy, including preparation for possible defenses against hostile takeovers and negotiation and bidding techniques for the bargaining table.

Week 2:

Corporate Finance and Strategy – Review of Relevant Concepts

Explore the finances of corporate restructuring, including elements of financing, growth strategies and the process for value creation.

Week 8:

Hyper Leverage as an M&A Defense

Selling, transferring and consolidating the assets of two companies is a complex transaction, demanding solid negotiation, valuation, pricing and financing tactics.

Week 3:

Mergers & Acquisitions (M&A) – Background

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.

Week 9:

After the Deal

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.

Week 4:

Motives, Strategies and Empirical Performance 

Consider industry trends, the point of view and motivation of every M&A player, and the potential benefits and drawbacks of M&A.

Week 10:

International M&A

Overseas opportunities in emerging and developing markets are compelling but sealing cross-border deals depends upon specific M&A practices and priorities.

Week 5:

Forms of Corporate Restructuring

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.

Week 11:

M&A Industry and Careers 

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.

Week 6:

M&A Process

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.

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Case Studies

There are both cautionary and inspirational lessons to be learned from real-world takeovers. You will examine details of the following corporate restructurings:

Logo for PORSCHE + VOLKSWAGEN

PORSCHE + VOLKSWAGEN

Although the negotiations took three years, the friendly vertical merger between these German automotive giants in 2009 resulted in synergy valuation.

Logo for DAIMLER + CHRYSLER

DAIMLER + CHRYSLER

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.

Logo for AXEL SPRINGER + SELOGER.COM

AXEL SPRINGER + SELOGER.COM

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.

Logo for PHILIP MORRIS + KRAFT FOODS

PHILIP MORRIS + KRAFT FOODS

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.

Logo for ABN AMRO + FORTIS BANK NETHERLANDS

ABN AMRO + FORTIS BANK NETHERLANDS

The 2010 marriage between the Dutch bank group ABN AMRO and Fortis was a rocky and complex merger with several false starts and crises.

A Remarkable Learning Experience

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Video Lectures

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Live Webinars

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Weekly Assignments

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Interactive Activities

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Case Studies

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Discussions & Polls

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Dedicated Programme Support Team

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Continuous Programme Access

Who Should Attend?

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:

  • Chief Executive Officer
  • Chief Investment Officer
  • Chief Financial Officer
  • Consulting Director
  • Corporate Vice President
  • Director of Financial Reporting
  • Director of Financial Services
  • Director of Regulatory Affairs
  • Director of Risk Management

Mid-level 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:

  • Quantitative Analyst
  • Accountant
  • Financial Services Manager
  • Investment Manager
  • Acquisition Manager
  • Equity Analyst
  • Certified Public Accountant
  • Chartered Global Management Accountant
  • Chartered Financial Analyst

Professionals 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:

  • Investment Banker
  • Financial Advisor
  • Investor in Venture Capital
  • Investor in Distressed Assets
  • Private Banker

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:

  • Junior Associate
  • Midlevel Legal Counsel
  • Senior Associate Attorney
  • Senior Legal Counsel
  • Partner
  • Regulation and Compliance Attorney
  • Hedge Fund Paralegal
  • Risk Management Paralegal

Consultants advising client organisations on financing and investing decisions looking to understand the M&A process from both sides, identifying the roles of those involved and understand how M&A works in an international context. Representative roles may include:

  • Consultant
  • Senior Consultant
  • Partner
  • Finance Consultant
  • Investment Consultant
  • M&A Consultant

M&A Expertise

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:

#2

Due Diligence

SOURCE: BTG 2021 High-End Independent Talent Report

#5

Post-Merger Integration

SOURCE: BTG 2021 High-End Independent Talent Report

Programme Faculty

Faculty Member Marc Kitten

Marc Kitten

Partner at Candesic Strategy Consultants, Visiting Professor in Finance at Imperial College London

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... More info

Certificate

Example image of certificate that will be awarded after successful completion of this program

Certificate

Upon completion of the programme, participants will be awarded a verified Digital Certificate by Imperial College Business School Executive Education.

Please note that this programme contributes to earning Associate Alumni status. Visit the Associate Alumni page to find out more.

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Imperial College Business School Global MBA

Successful completion of the Mergers & Acquisitions programme may be used for credit on the Imperial College Business School Global Online MBA, subject to acceptance onto the Global Online MBA programme and the payment of a small fee.

The Imperial learning experience

Human

At Imperial College Business School, we create people-centric learning experiences. From conception through to delivery, we are guided by the principle that learning is a creative, personal and above all, human process. Our high quality, crafted learning environments are highly interactive, community-orientated and actively tutored. Our programmes offer an engaging experience designed to facilitate natural learning behaviours.

Real

No compromises. Our online programmes offer the absolute equivalent of our campus-based programmes. They adopt the same rigorous academic standards, are delivered via our world-leading faculty and offer a comparable high-touch approach to the classroom experience.

FAQs

  • How do I know if this programme is right for me?

    After reviewing the information on the programme landing page, we recommend you submit the short form above to gain access to the programme brochure, which includes more in-depth information. If you still have questions about whether this programme is a good fit for you, please email learner.success@emeritus.org, and a dedicated programme advisor will follow up with you very shortly.


    Are there any prerequisites for this programme?

    Some programmes do have prerequisites, particularly the more technical ones. This information will be noted on the programme landing page, as well as in the programme brochure. If you are uncertain about programme prerequisites and your capabilities, please email us at learner.success@emeritus.org for assistance.


    Note that, unless otherwise stated on the programme web page, all programmes are taught in English, and proficiency in English is required.


    What is the typical class profile?

    More than 50 per cent of our participants are from outside the United States. Class profiles vary from one cohort to the next, but generally, our online certificates draw a highly diverse audience in terms of professional experience, industry and geography—leading to a very rich peer learning and networking experience.


    What other dates will this programme be offered in the future?

    Check back at this programme web page or email us at learner.success@emeritus.org to inquire if future programme dates or the timeline for future offerings have been confirmed yet.

  • How much time is required each week?

    Each programme includes an estimated learner effort per week. This is referenced at the top of the programme landing page under the Duration section, as well as in the programme brochure, which you can obtain by submitting the short form at the top of this web page.



    How will my time be spent?

    We have designed this programme to fit into your current working life as efficiently as possible. Time will be spent among a variety of activities, including:



    • Engaging with recorded video lectures from faculty
    • Attending webinars and office hours, as per the specific programme schedule
    • Reading or engaging with examples of core topics
    • Completing knowledge checks/quizzes and required activities
    • Engaging in moderated discussion groups with your peers
    • Completing your final project, if required

    The programme is designed to be highly interactive while also allowing time for self-reflection and to demonstrate an understanding of the core topics through various active learning exercises. Please contact us at learner.success@emeritus.org if you need further clarification on programme activities.



    What is it like to learn online with the learning collaborator, Emeritus?

    More than 250,000 professionals globally, across 80 countries, have chosen to advance their skills with Emeritus and its educational learning partners. In fact, 90 per cent of the respondents of a recent survey across all our programmes said that their learning outcomes were met or exceeded.

    A dedicated programme support team is available 24/5 (Monday to Friday) to answer questions about the learning platform, technical issues or anything else that may affect your learning experience.


    How do I interact with other programme participants?

    Peer learning adds substantially to the overall learning experience and is an important part of the programme. You can connect and communicate with other participants through our learning platform.

  • What are the requirements to earn the certificate?

    Each programme includes an estimated learner effort per week, so you can gauge what will be required before you enrol. This is referenced at the top of the programme landing page under the Duration section, as well as in the programme brochure, which you can obtain by submitting the short form at the top of this web page. All programmes are designed to fit into your working life.

    This programme is scored as a pass or no-pass. Participants must complete the required activities to pass and obtain the certificate of completion. Some programmes include a final project submission or other assignments to obtain passing status. This information will be noted in the programme brochure. Please contact us at learner.success@emeritus.org if you need further clarification on any specific programme requirements.


    What type of certificate will I receive?

    Upon successful completion of the programme, you will receive a smart digital certificate. The smart digital certificate can be shared with friends, family, schools or potential employers. You can use it on your cover letter or resume and/or display it on your LinkedIn profile. The digital certificate will be sent approximately two weeks after the programme, once grading is complete.


    Can I get the hard copy of the certificate?

    No, only verified digital certificates will be issued upon successful completion. This allows you to share your credentials on social networking platforms, such as LinkedIn, Facebook and Twitter.


    Do I receive alumni status after completing this programme?

    No, there is no alumni status granted for this programme. In some cases, there are credits that count towards a higher level of certification. This information will be clearly noted in the programme brochure.


    How long will I have access to the learning materials?

    You will have access to the online learning platform and all the videos and programme materials for 12 months following the programme start date. Access to the learning platform is restricted to registered participants per the terms of agreement.

  • What equipment or technical requirements are there for this programme?

    Participants will need the latest version of their preferred browser to access the learning platform. In addition, Microsoft Office and a PDF viewer are required to access documents, spreadsheets, presentations, PDF files and transcripts.


    Do I need to be online to access the programme content?

    Yes, the learning platform is accessed via the internet, and video content is not available for download. However, you can download files of video transcripts, assignment templates, readings, etc. For maximum flexibility, you can access programme content from a desktop, laptop, tablet or mobile device.

    Video lectures must be streamed via the internet, and any livestream webinars and office hours will require an internet connection. However, these sessions are always recorded, so you can view them later.

  • Can I still register if the registration deadline has passed?

    Yes, you can register up until seven days past the published start date of the programme without missing any of the core programme material or learnings.


    What is the programme fee and what forms of payment do you accept?

    The programme fee is noted at the top of this programme web page and usually referenced in the programme brochure as well.

    • Flexible payment options are available (see details below as well as at the top of this programme web page next to FEE).
    • Tuition assistance is available for participants who qualify. Please email learner.success@emeritus.org.

    What if I don’t have a credit card? Is there another method of payment accepted?

    Yes, you can do the bank remittance in USD via wire transfer or debit card. Please contact your programme advisor or email us at learner.success@emeritus.org for details.


    I was not able to use the discount code provided. Can you help?

    Yes! Please email us at learner.success@emeritus.org with the details of the programme you are interested in, and we will assist you.


    How can I obtain an invoice for payment?

    Please email learner.success@emeritus.org with your invoicing requirements and the specific programme you’re interested in enrolling in.


    Is there an option to make flexible payments for this programme?

    Yes, the flexible payment option allows a participant to pay the programme fee in instalments. This option is made available on the payment page and should be selected before submitting the payment.


    Does the programme fee include taxes? Are there any additional fees?

    Yes, the programme fee is inclusive of any taxes, except for GST for Singapore residents.


    How can I obtain a W9 form?

    Please email us at learner.success@emeritus.org for assistance.

  • What is the policy on refunds and withdrawals?

    You may request a full refund within seven days of your payment or 14 days after the published start date of the programme, whichever comes later. If your enrolment had previously been deferred, you will not be entitled to a refund. Partial (or pro-rated) refunds are not offered. All withdrawal and refund requests should be sent to admissions@emeritus.org.



    What is the policy on deferrals?

    After the published start date of the programme, you have until the midpoint of the programme to request to defer to a future cohort of the same programme. A deferral request must be submitted along with a specified reason and explanation. Cohort changes may be made only once per enrolment and are subject to availability of other cohorts scheduled at our discretion. This will not be applicable for deferrals within the refund period, and the limit of one deferral per enrolment remains. All deferral requests should be sent to admissions@emeritus.org.

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