Financial Modeling and Valuation 2019 - M&A Deal Structuring Modeling


21 March 2019 ,9:00 AM | Manila, Philippines
CFA Society Philippines | 7 CE

Date: 21 March 2019
Time: 09:00- 17:00 (PST)
Venue: Crowne Plaza Manila Galleria, Ortigas Ave., corner AsianDevelopment Bank Ave., Ortigas Center, Quezon City

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Dates:
March 18, 2019 (Basic Financial Modeling
March 19, 2019 (Advanced Financial Modeling)
March 20, 2019 (Corporate Valuation Methodologies)
March 21, 2019 (M&A Deal Structuring) 

WORKSHOP FEES (VAT exclusive)
Early Bird Rate : Php24,000.00/person per day (Until February 18, 2019 only)
Regular Rate : Php26,000.00/person per day
CFA Charterholders Rate : Php21,000.00/person per day
Deadline of Registration : March 11, 2019

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Workshop Details:
21 March, 2019

Learn about mergers and acquisitions and how deals are structured. The first half of this course focuses on the mergers and acquisitions process and the basics of deal structures, presenting the main tools and analyses that MS:A investment bankers and acquirers utilize. It covers the following modules: (i) in-depth analysis of the entire MS:A process, including due diligence and legal issues; (ii) common structural issues including cash vs. stock, upfront payments vs. earn-outs, and stock vs. asset deals; (iii) crucial merger consequence analysis including detailed accretion/dilution and contribution analyses; and (iv) detailed analysis of transaction case studies to illustrate various deal structures and demonstrate detailed alternative earn-out structures and methodologies.

The second half of this course builds on the first half and is hands-on, interactive, Excel-based and covers different ways to model out financial combinations. Different techniques are covered including the most basic and widely used back-of-the-envelope method, accretion I dilution and more robust analyses. Build dynamic models that account for different transaction structures, learn how to sensitize financial projections and the financial impact on a transaction and construct a pro forma merger model. Calculate estimated combined income statement for target and acquiror, key pro forma balance sheet items, cash flow for debt repayments and other relevant items in a merger and acquisition context. 

M&A Deal Structuring 
• Review of various deal considerations and deal structuring options (cash vs. stock)
• Common structural issues in a transaction (stock vs. asset)
• Buyer and seller preferences for various deal structures and rationale
• Tax implications of transactions based on deal structure and IFRS #3 goodwill amortization
• Merger consequence analysis including accretion I dilution and financial implications of a deal
• Analysis of breakeven PE for both 100% stock and 100% cash considerations

Accreation I Dilution Modelling
• Build dynamic merger consequence analysis (accretion I dilution) incorporating the following:
• Synergies switch, cash vs. stock sensitivity • Amortization of goodwill switch (depending on purchase price allocation)
• Common structural issues: Stock vs asset deals
• Tax implications of transactions based on deal structure and IFRS #3 goodwill amortization
• Analysis of breakeven PE for both 100% stock and 100% cash considerations
• Calculate pre-tax and after-tax synergies I cushion required to breakeven

Simple Merger Modelling
• Construct a merger model, simple combination of Income Statement for target and acquiror
• Project simple stand-alone Income Statement for both target and acquiror
• Analyze selected balance sheet figures and ratios and multiples • Estimate target valuation and deal structure
• Calculate selected Pro Forma balance sheet items
• Combine target and acquiror's Income Statement and estimated synergies
• Calculate cash flow for debt repayments to estimate debt repayments and cash balances
• Compute interest expense and interest income based on paydowns
• Calculate accretion I dilution and credit ratios

POLICY FOR SUBTITUTIONS. CANCELLATIONS AND NO SHOW:

1. Interested parties are requested to register online at www.cfaphilippines.org.
2. Registration is only confirmed upon receipt of payment.
3. After completing the online registration and payment process, registrants will receive an e-mail notification with registration details. A reminder will also be sent before the event. if you have not received the e-mail confirmation and reminder from CFA Society Philippines, it is the delegate's responsibility to contact CFA Soceity Philippines for the confirmation.
4. Registration should be paid in full before the commencement of the event. Immediate payment is required upon e-mail confirmation. Full amount will still be charged for no show. Should the registration fee remain outstanding, CFA Society Philippines reserves the right to disallow entrance to the event.
5. No Cancellation, only Subtitution.

For more information, you may call us at (+632) 637 8968

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