Comprehensive course analysis
Who should attend
- Executives and managers directly or indirectly involved in acquisition/alliance activities
- Managers with corporate development, planning and finance responsibilities
About the course
Creating value through strategic acquisitions and alliances
Blending academic theory with real-world application, this interdisciplinary learning experience will teach you how to take a multifaceted approach to any restructuring deal. Our internationally renowned faculty members — experts in the fields of finance, accounting, management and organizations and organizational change — will take you through the entire M&A process, from assessing strategic fit to considering market trends to making financing decisions.
Your in-depth exploration will also include topics such as the search process, valuation techniques, negotiations, tax-free versus taxable transactions, joint ventures, international M&A and best practices for developing a custom-tailored postmerger integration plan. You’ll leave this program inspired and equipped to seek out and capitalize on new opportunities in the global marketplace.
- Determine the shareholder value of a target company
- Identify and quantify sources of strategic fit
- Develop new strategies for acquisition and restructuring
- Develop a high-impact integration plan
- Manage and derive value from negotiations
- Test postmerger assumptions
- Apply new skills in a simulated acquisition
Drivers of Acquisition Success
- Elements of successful acquisition processes
- Analytical techniques that support acquisition success
- Steps to manage culture gaps and other behavioral pitfalls
Developing Winning Acquisition Strategies
- Determine strategic segmentation and segment attractiveness
- Pressure-test skill, scope and scale benefits
- Search and screen acquisition targets
Financial Analysis and Valuation
- Learn alternative valuation approaches
- Measure and quantify risk
- Test assumptions and get beneath cash-flow forecasts
- Determine the optimal bidding range
- Evaluate international acquisitions
Due Diligence and Negotiation
- Manage the due diligence process
- Evaluate target commercial stability and growth prospects
- Manage internal and external experts
- Recognize potential deal killers
- Prepare for and manage the negotiation process
Structuring Winning Deals
- Strategic alliances versus 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
Postmerger Integration Best Practices
- Develop a tailored integration approach
- Sync action planning and prioritization
Harry M. Jansen Kraemer, Jr. is an executive partner with Madison Dearborn Partners, a private equity firm based in Chicago, Illinois and a Clinical Professor of Strategy at Northwestern University's Kellogg School of Management. He was named the 2008 Kellogg School Professor of the Year. Harry i...
Ed Zajac joined the faculty of the Kellogg School of Management after completing his Ph.D. in organization and strategy at the Wharton School, University of Pennsylvania. At Kellogg, he received the James F. Bere Chair and the Sidney J. Levy Teaching Award. He was a Fulbright Scholar at the Unive...
Artur Raviv is the Alan E. Peterson Distinguished Professor of Finance. He has been a member of the Kellogg faculty since 1981, and served as the chairman of the Finance Department during the years 1986-1989. Prior to joining Kellogg Raviv taught at Carnegie Mellon University and Tel Aviv Univers...
Sergio Rebelo is the Tokai Bank Chair in International Finance at the Kellogg School of Management, where he has served as Chair of the Finance Department. Professor Rebelo does research on macroeconomics and international finance. He has studied the causes of business cycles, the impact of econ...
Jeanne Brett is the DeWitt W. Buchanan, Jr. Distinguished Professor of Dispute Resolution and Organizations. Professor Brett's research is in the areas of cross cultural negotiations, the resolution of disputes, and the performance of multicultural teams. Her current research investigates cultu...
Thomas Z. Lys is the Eric L. Kohler Chair in Accounting and Professor of Accounting Information and Management and Professor of Law (by courtesy) at the Northwestern School of Law. Professor Lys’ research has been published in prominent academic journals, including the Journal of Accounting and ...
Peter Walter is a Managing Director and Partner in our L.E.K. New York office. Prior to moving to New York, he was the Southeast Asia Regional Director for more than six years, based in our Bangkok office. Peter has more than 18 years of experience in management consulting in the United States, L...
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