Executive Education

Finance & Accounting  >  Merger Week

Merger Week: Creating Value Through Strategic Acquisitions
and Alliances

Program Content

Competitive Strategy and Financial Analysis

• Winners and losers - the evidence
• Framework for examining industry attractiveness of target companies
• Identifying sources of competitive advantage
• Alternative valuation approaches
• Shortcomings of earnings
• Determining the maximum price to pay - the shareholder value approach

Financial Analysis, Performance Measurement, and Negotiation

• Estimating value drivers and establishing hurdle rates for the target
• Testing assumptions—getting beneath the cash-flow forecasts
• Recognizing potential deal killers
• Stock market signals to management
• Linking acquisition analysis to post-merger performance
• Value-based performance measurements
• Positional vs. principled negotiations
• Preparing for and managing the negotiation process

Managing for Value and Post-Merger Integration

• Managing for value creation—a corporate case study
• Successful restructuring and post-restructuring strategy
• Choosing the most appropriate post-merger approach
• How does the integration process affect value creation?

Strategic Alliances

• Costs and benefits of joint ventures, licensing agreements, and other strategic alliances
• Strategic alliances vs. mergers and acquisitions
• Creating and managing domestic and international strategic alliances

Search Process and Making Shareholder Value Theory Work

• Shareholder value approach to security analysis
• Shareholder value theory in action