This course is suitable for front, middle and back office functions. It aims to explain the main activities involved in corporate finance, the key decisions that corporates have to make and the factors that influence them.
It will assist those that are involved with identifying business development opportunities for clients, cross-selling of related products and risk assessment.
The course is suitable for those with limited or no previous knowledge of corporate finance. It requires familiarity with company financial statements.
The course is very interactive, using real-life examples and case studies designed to illustrate the range of choices available to corporates. Case studies are a mix of generic structures and analysis, with reviews of recent transactions to illustrate the impact of current market conditions. The focus is on UK and European transactions, using examples of UK regulations to illustrate common structures and rules.
Case study: Applying strategic analysis
Case study: When would you consider using dividend valuation?
Case study: Participants value an acquisition using historic and prospective multiples
Case study: Selection of appropriate valuation ratios for different sectors
Case study: Assessing argument for premium or discount vs. comparable companies
Case study: Participants review beta data to finalise a cost of capital
Case study: Choice of projection period and terminal value methods
Case study: Participants adjust key variables in a DCF valuation to assess fair value
Case study: Evaluating growth options for a business
Case Study: Valuing synergies and how they could/should be factored into bid price
Case study: Defence strategies
Case study: Choice of sale method to maximise value
Case study: Review of corporate funding structures
Case study: Selecting between competing bids for a quoted company
Case Study: How much debt is appropriate to finance an acquisition
Case study: Pros and cons of flotation
Case study: Offer structures
Exercise: Contrasting results from bookbuilding against tender offer
Case study: Identify criteria for selection of lead manager(s)
Exercise: Calculating the IRR for a buyout
Case study: Impact of changing the mix of debt/equity for an LBO
Case study: Review of buyout candidates to select potential winners