FUSIONS & ACQUISITIONS

JEAN-LOUIS UBERNEY GUICHARD - Founder and Managing Partner, NewCo Corporate Finance

Introduction to Mergers & Acquisitions' issues and practice
introduction to valuations and process
Presentation of usual transaction structures with a special focus on takeover bids and LBO transactions

Les étudiants doivent avoir suivi le cours de Finance d'entreprise et évaluations des actions ou équivalent.

Class #1: Introduction to M&A

The ecosystem of M&A (landscape of parties involved)
types of transactions

Class #2: Basic valuation and structure

basic accounting, how to read financial statements
valuation methods (transaction multiples, trading multiples, DCF, DDM, LBO models, NAV)
Case study #1

Class #3: Takeover bids

Class #4: LBO transactions

Class #5: Negotiations

Class #6: TBA

Ceddaha F., Fusions - Acquisitions, 2010, Economica. 301 pages.

Vernimmen P., P. Quiry et Y. Le Fur, 2016, Finance d'entreprise, 14th Edition, Dalloz, 1124 pages.

Higgins R., Analysis for Financial Management, 2015, 11th Edition, McGraw-Hill Education, 466 pages.

Rosenbaum J., Investment banking, 2013, 2nd Edition, Wiley, 456 pages.

45min multiple-choice questionnaire
No documents allowed

1 case study