Course Name

Mergers and Acquisitions

Schedule

October 19, 2022 - October 29, 2022

Schedule via Zoom:
October 19, 20, 26, 27, 2022
Wednesdays & Thursdays
5:30 pm - 9:00 pm

October 22 & 29, 2022
Saturdays
8:30 am - 12:00 pm

Regular Rate:

Php 16,800

Early Eagle Rate:

Php 15,000

Valid Until:

October 05, 2022

Mergers and Acquisitions

Description

Few financial events attract headlines quite the way a protracted battle for control of a large firm does. Events in the recent past, for example, heralding the possible change in the ownership control of the largest electricity retailer in the country spawned varied reactions as well as speculations — both favorable and unfavorable — from investors and stock market players and analysts on the potential outcome of the transaction, sending the firm's stock price to a rollercoaster ride for weeks.   

What motivated the previous owners to give up control of the firm in favor of a particular investor vs. another was an issue that created a big stir in the market. How the transaction would impact the acquiring firm's balance sheet elicited a similar market reaction.

These and other crucial issues/questions underlying business mergers and acquisitions will be discussed in this module. Participants gain a sound appreciation and better understanding of, among other things, the motivations behind these activities, the procedures that make mergers and acquisitions work, and the importance of making a thorough analysis before finalizing merger and acquisition arrangements. The mechanics of leveraged buyouts as a structured form of financing acquisitions will also be discussed.

Who should attend

This online module is highly recommended for investment bankers, business professionals, consultants and entrepreneurs, and other finance practitioners involved, one way or another, in using business acquisitions as a way to create value. Those familiar with or have adequate working knowledge of company valuations, investment banking, and basic business mathematics and statistics will find this module most meaningful and beneficial.

Successful completion of this module enables the participants to:

  1. Understand why a business acquisition can be analyzed as a complex form of capital investment;
  2. Discuss the motives for acquiring/merging businesses;
  3. Explain why diversification, enhanced earnings per share, and financial synergy are questionable motives for merging;
  4. Describe how a merger (or stock-for-stock acquisition),  a purchase of stock and a purchase of assets differ;
  5. Estimate the value of a potential acquisition using the comparative analysis, weighted average cost of capital, and adjusted present value approaches;
  6. Appreciate the significance of paying for an acquisition with common stock;
  7. Explain and illustrate the defensive tactics target firms employ to forestall unwanted suitors from acquiring their firms; and 
  8. Discuss leveraged buyouts and how these differ from other forms of business acquisitions.

The course, which employs lectures, interactive discussions, case studies, and practical application exercises, covers the following areas:

  • Mergers and Acquisitions and Corporate Strategy
  • History of Mergers and Acquisitions and Motivations
  • The Mergers and Acquisition Process and Associated Documents
    • The Search
    • Pitch or Approach
    • The Courtship / Mating Season
    • Formalizing the Transaction
  • Introduction to Valuation
  • Specific Issues Relating to Valuation Approaches
    • Asset Valuation
    • Discounted Cash Flow
    • Relative Valuation
    • Contingent Claims or Options Theory

Ms. Ida Ceniza Tiongson is the CEO-President of a multi-billion ING formed company, OPAL Portfolio Investments (SPV-AMC) Inc. in charge of turning around distressed assets and companies.  

She started as a traditional banker spanning over 22 years in senior management positions in National Australia Bank and Philippine National Bank, before being pirated to head OPAL SPV.

Recently, she also got voted in Chairperson of the Board of Prulife UK Ph, She also sits as Independent Director in two other companies namely Seedin Technologies Inc, a Southeast Asia P2P fintech, and a publicly listed technology company Xurpas Inc. Further, she is part of BSP’s Open Finance Oversight Committee.  

She has completed several Masterclasses in Blockchain, Artificial Intelligence and Alibaba Netrepeneur.

Presently a Board Trustee of several associations namely, the Institute of Corporate Directors, and two of Philippine's largest Fintech associations.

She lectures in Worldbank IFC on Risk Management, ICD on various Business Governance-related topics, and of course Ateneo CCE  on various business topics. 
 

Atty. Mark S. Gorriceta is the Managing Partner, Head of the Corporate Group, and Head of the Technology Media and Telecommunications Group of Gorriceta Africa Cauton & Saavedra. With over 18 years in private practice, Mark has developed extensive expertise in complex corporate transactions, commercial contracts, and regulatory matters in a range of areas that impact businesses – whether for start-ups or for Top 1000 companies in the Philippines. He is a leading lawyer in the Philippines in the fields of Capital Markets, Mergers & Acquisitions and Securities Law. He is also considered the foremost Tech lawyer in the Philippines. With pioneering expertise in the law on digital assets, fintech, blockchain, virtual currencies, e-commerce, data privacy, and artificial intelligence, he is legal counsel to the biggest and most impactful technology and online companies in the Philippines.

A multi-awarded legal practitioner, Atty. Gorriceta has been recognized as one of the Philippines’ Top 100 Lawyers for 2020 and 2021 by the Asia Business Law Journal and also awarded as the Philippines’ Dealmaker of the Year for 2021 by Asian Legal Business. Under his aggressive leadership, he has steered his Firm to be a Top Tier Firm in the Philippines and become the undisputed leader in the field of Technology Media and Telecommunications Law, having won the award for three consecutive years (2019, 2020, and 2021) for both Asian Legal Business and Asia Business Law Journal’s Philippine Law Awards.

A member of the Philippine Bar, he graduated law with honors and holds a Bachelor of Arts - Political Science degree from the Ateneo de Manila University. He completed certificate courses in Finance at the Asian Institute of Management. He completed certificate courses in Corporate Finance at Harvard University. He also completed several Masterclasses on Blockchain, Distributed Ledger & Smart Contracts in Singapore and Hong Kong. Atty. Gorriceta is a faculty member of the Ateneo de Manila University’s Center for Continuing Education. He teaches Mergers & Acquisitions for the Advanced Module Diploma Course in Corporate Finance.

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