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Successfully Structuring, Implementing

And Managing
Mergers & Acquisitions
14 – 18 June 2009 • JW Marriott Hotel, Dubai, UAE
Course I: Course II:
Full Cycle Valuation Fruitful Strategy, Financing
And Pricing And Deal Structure
14 – 16 June 2009 17 – 18 June 2009

q Learn to value and price acquisitions
q Discover the components of a ‘cost of capital’
calculation
q Strategic M&A valuation using cash flow
methods
q Dissect elements of strategic due diligence
q Understand the key drivers of an M&A decision
q Gain insight into how a deal is designed and
negotiated
q Be able to evaluate M&A financing approaches
q Manage post-merger integration

Programme Director:
Waseem Anwer
Managing Director
Chicago Capital Group
USA

The Institute of Finance Who Should Attend?

The Institute of Finance provides specialist high level
training courses for senior finance professionals. The
focus is on the strategic application of skills and
knowledge to enhance the performance of individuals
and organisations.
This training programme is specifically designed for
executives and owners who are interested in exploring
mergers and acquisitions (M&As) as a tool to execute the
company’s growth strategy, as well as for bankers and
advisors.

Register Today Tel: 971-4-3352437 Email: register@ifme.ae

Fax: 971-4-3352438 Web: www.ifme.ae/mergers

 Successfully Structuring, Implementing And Managing Mergers & Acquisitions
Programme Director
Waseem Anwer is Managing
Director of Chicago Capital Group, a
New York based management
consulting and corporate finance
advisory firm. He advises
companies on issues in finance,
strategy and governance to enhance
shareholder value.
Waseem has advised corporate
clients on corporate restructurings,
investment planning and valuations,
capital structure and financial
policy, real estate investments,
organisation structure, value-based
management and executive
compensation. He has worked with
private and public companies with
diverse business cultures in both
developed and emerging economies
in North and South America, and in
the Middle East. Waseem has also
been a frequent speaker at
universities, seminars and
conferences.
Previously, Waseem was a Vice
President with Stern Stewart & Co, a
global advisory firm specialising in
corporate finance advisory,
shareholder value management and
corporate governance issues, in
New York. He was also with
Hewlett-Packard Company in
Boston for five years. Waseem holds
an MBA, specialising in analytical
finance, from the University of
Chicago. He also has an MS in
computer engineering from
Syracuse University and a bachelor’s
degree in electrical engineering.
Register Today Tel: 971-4-3352437 Email: register@ifme.ae
Fax: 971-4-3352438 Web: www.ifme.ae/mergers
Programme Objectives
Mergers and acquisitions (M&As)
can be a very effective element of a
company’s strategy to pursue
competitive advantage and create
value. The majority of M&As
executed, however, do not create
value. Clearly, it is no simple road
to success. M&As are complex and
difficult to structure, implement and
manage successfully. This
programme will help you gain
insights into how this very
important strategic tool can be
utilised effectively. You will gain
an in-depth understanding of the
valuation and financing aspects of
the transaction to ensure that it
passes the shareholder value test.
The programme will focus on the
following:
• Motivations for M&As
• Strategic considerations
• Valuation approaches and
analysis
• Cost of capital
• Acquisition pricing
• Deal design
• Financing options
• Governance
• Negotiations
• Post-merger integration
Programme Methodology
This five day training programme
includes a mix of theory and
hands-on practice using case
studies from Harvard Business
School. Delegates are expected to
prepare for the case studies outside
the classroom and engage in
case-study discussion in the
classroom throughout the
programme.
Programme Timings
Registration will begin at 8.00
on Day one of each course. The
programme will commence at 8.30
each day and conclude at 14.30
when lunch will be served. There
will be two refreshment breaks at
appropriate intervals.
Continuing Professional
Education
If you are a CPA you will earn 33
CPE credits upon completion of
this course
Institute For International Research
(IIR) is registered with the National
Association of State Boards of
Accountancy (NASBA) as a sponsor
of continuing professional
education on the National Registry
of CPE Sponsors. State boards of
accountancy have final authority on
the acceptance of individual courses
for CPE credit. Complaints
regarding registered sponsors may
be addressed to the National
Registry of CPE Sponsors, 150
Fourth Avenue North, Nashville, TN,
37219-2417,
website: www.nasba.org

Full Cycle Valuation And Pricing
Day One
Sunday, 14 June 2009
Motivations For Mergers And The
Role Of Strategy
• Synergies
• Diversification
• Creating competitive advantage
• Bad motives for M&As
• Origination of transaction
proposals
M&A Valuation Using Cash Flow
Methods
• Enterprise versus equity valuation
• Adjusted Present Value (APV)
method
• Elements of strategic due
diligence
• Measuring cash flows
• Value drivers and forecasting
• Forecasting horizon and terminal
values
• Defining and valuing synergies
Fruitful Strategy, Financing And Deal Structure
Day One
Wednesday, 17 June 2009
Leveraged Buyouts (LBO)
• Sources of value and risks, in an
LBO and management buyout
(MBO)
• Discipline imposed by leveraged
financing
• Impact on governance
• Prerequisites for an LBO
Deal Design
• Deal as a system
• Interdependencies between
components of a transaction
• Terms of exchange
• Contingent payments
“An excellent
course that improves
our capabilities in
M&A.”
Ra’fat Al-Jallad
Investment Dept. Manager,
Paltel Group
Register Today
Course I
Day Two
Monday, 15 June 2009
M&A Process
• Relationship between risk and
return
• Types of risk and role of
diversification
• Types of cost of capital
• Components of a cost of capital
calculation
• International cost of capital
framework
• Private company issues
Course II
Day Two
Thursday, 18 June 2009
Negotiating The Deal
• Behavioural finance
• Preparation for a negotiation
Post-Merger Integration
• Managing the post merger
process
Harvard Business School Case
Studies Covered in Both Courses
(Final Selection Subject To Change)
• ‘Cooper Industries, Inc.’ The
Executive President of a major
industrial company must decide
1) whether to acquire a small
hand tool company and, if so,
2) the value and form that the
acquisition package should take.
• ‘Concordia Electronic Systems
Test.’ The management of an
electronics company is
attempting to decide whether
to use a single hurdle rate for all
projects or to move to a system
of different hurdle rates for each
of its two divisions.
Tel: 971-4-3352437 Email: register@ifme.ae
Fax: 971-4-3352438 Web: www.ifme.ae/mergers
Day Three
Tuesday, 16 June 2009
M&A Valuation Using Multiples
• Commonly used multiple
approaches
• Use of multiples in markets with
scarce data availability
• Adjusting multiples to account
for differences with comparables
(e.g. comparables from a
different country)
Pricing Acquisitions
• Control premium
• Illiquidity discount
• A framework to adjust valuation
for control and illiquidity
Financing
• Form of payment
• Advantages and disadvantages of
cash or stock offers
• Assessing financing aspects
• ‘Newell Co.: Acquisition
Strategy.’ Newell is a $1.5
billion manufacturer and
distributor of low-tech home and
hardware products, geared to
serve volume purchasers. In
1992, Newell is considering two
approaches to expand its current
product line with the acquisitions
of Sanford Corp., a $140
million manufacturer and
marketer of writing instruments
and office supplies, and Levolor,
a $180 million manufacturer of
window blinds. The case focuses
on Newell’s enduring corporate
strategy as a guide for selecting
appropriate acquisitions to grow
the company.
• ‘Pinkerton (A).’ A California based
security guard firm considers
the acquisition of another
security guard company. The
value of the target firm and the
financing of the acquisition are
the key issues.
 Please complete and return to:
Institute of Finance, PO Box 21743, Dubai, United Arab Emirates

Please do not remove this label

Successfully Structuring,
Implementing And Managing
Mergers & Acquisitions
BC3037
14 – 18 June 2009
JW Marriott Hotel, Dubai, UAE
For further information and Group Discounts
contact +971-4-3352483 or email: r.devnani@ifme.ae
5 WAYS TO REGISTER
Hotel & Accommodation Details
971-4-3352437 971-4-3352438 register@ifme.com
JW Marriott Hotel, Dubai, UAE
IIR Holdings Ltd. GCS/IIR Holdings Ltd. Tel: 971-4-2624444
PO Box 21743, Dubai, UAE P O Box 13977, Muharraq, Kingdom of Bahrain We highly recommend you secure your room reservation at the earliest to avoid last
minute inconvenience. You can contact the IIR Hospitality Desk for required
www.ifme.ae/mergers assistance on:
Tel: 971-4-4072693 Fax: 971-4-4072517 Email: hospitality@iirme.com

Yes, I want to register for: Please Photocopy This Form To Register More Delegates

Event Dates Price before Price between Price after

5 April 2009 5 April and 3 May 2009 3 May 2009
Book the entire event 14 – 18 June 2009 US$ 4,250 US$ 4,550 US$ 4,750
Total Saving US$ 2,140 Total Saving US$ 1,840 Total Saving US$ 1,640
Course I - Full Cycle Valuation And 14 – 16 June 2009 US$ US$ 3,195 US$ 3,395 US$ 3,495
Pricing (3 Days) (Save US$ 300) (Save US$ 100)
Course II - Fruitful Strategy, Financing 17 – 18 June 2009 US$ 2,695 US$ 2,795 US$ 2,895
And Deal Structure (2 Days) (Save US$ 200) (Save US$ 100)

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