Merger Week: Creating Value Through Strategic Acquisitions and Alliances
Develop Acquisition and Restructuring Strategies
As a participant in Merger Week, you will learn to forge and implement effective, sustainable mergers, acquisitions, and alliances that create value and competitive advantage. In a collaborative learning environment, this comprehensive program takes you through the intricacies of the entire strategic merger-and-acquisition process.
An outstanding faculty of leading academics and business practitioners will inspire you to capitalize on opportunities that globalization and technological advancements have created in the marketplace. Topics include the search process, valuation techniques, negotiations, tax-free versus taxable transactions, joint ventures, and international M&A.
If you are a senior-level executive or manager with corporate development, planning, and finance responsibilities, this program is designed for you. Many companies send groups with managers from both valuation and integration functions to take advantage of the common learning experience.
In this course, you will:
Examine the industry attractiveness of a target company
Identify and determine sources of competitive advantage
Develop acquisition and restructuring strategies
Determine the shareholder value of an acquisition company
Test post-merger assumptions
Apply what you have learned in a simulated acquisition
Drivers of Acquisition Success
Winners and losers—the evidence
Elements of successful acquisition processes
Analytical techniques that support acquisition success
Steps to manage culture gaps and other behavioral pitfalls
Developing Winning Acquisition Strategies
Strategic segmentation and segment attractiveness
Defining strategic fit
Pressure testing skill, scope and scale benefits
Proactive acquisition target search and screening
Financial Analysis and Valuation
Alternative valuation approaches
Measuring and quantifying risk
Isolating key drivers of value
Testing assumptions—getting beneath the cash-flow forecasts
Determining the optimal bidding range
Evaluating international acquisitions
Due Diligence and Negotiation
Managing the due diligence process
Evaluating target commercial stability and growth prospects
Managing internal and external experts
Recognizing potential deal killers
Building a negotiation strategy
Preparing for and managing the negotiation process
Structuring Winning Deals
Strategic alliances vs. mergers and acquisitions
Costs and benefits of joint ventures, licensing agreements, and other strategic alliances
Critical legal issues
Tax implications of alternative structures
Financial reporting considerations of alternative deal structures
Post-Merger Integration Best Practices
Developing a tailored integration approach
Action planning and prioritization to deliver maximum synergies
Managing cultural differences and other deal killers
Edward Zajac - James F. Bere Professor of Management & Organizations; Chair of the Management & Organizations Department; Director of Kellogg’s Center for Strategic Alliance Research
Continuing Education Credit This program is registered with the National Association of State Boards of Accountancy and is recommended for 44.5 CPE credits.
Continuing Professional Education Information The Kellogg School of Management, Northwestern University is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of Continuing Professional Education (CPE) Sponsors. State boards of accountancy have final authority on 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 Suite 700, Nashville, TN 37219-2417. Web site: www.nasba.org
All Kellogg programs that qualify for CPE credits do not have pre-requisites. Advanced readings and case preparation is required. A packet of course materials is mailed to all participants before the program begins.
All Kellogg programs are group-live. Program level: Advanced.
For more information regarding administrative policies such as complaints and refunds, please contact our office at 847-467-7000.
Featured Faculty Video
Professor Sergio Rebelo: International finance strategies
What Past Participants Say
“I have attended executive training at other top business schools, and now Kellogg. Although all programs were good, I find Kellogg’s ability to mix academics and practice to be second to none.” CEO and President, The Will-Burt Company
"This program gave me the framework I needed to successfully analyze, negotiate, integrate & evaluate acquisitions." Finance Manager, Black & Decker Corporation
"A must for all business development managers in dynamic corporations." Director, New Beverages and Innovation, The Coca-Cola Company
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