Ask any finance enthusiast “One word that grabs your attention like none other “ and straight comes the answer M&A. Mergers and Acquisitions is the major part of corporate finance world as they dictate the fortune of companies for years to come.
From 30th July to 1st August 2010 , Mr. Uday Disley conducted a workshop on M&A for our PGP -2 students. An MBA from TAPMI, he has completed courses in International Business Strategy and E-Business from London School of Economics. He is the Co-Founder of Viedea Capital Advisors a boutique investment bank. Before starting Viedea, he was the Head of Corporate Planning and strategy at Valdel Corporation, a multi-business conglomerate with interests in Oil & Gas Engineering Services, Retail & Retail space development, IT & ITES and Power. He was instrumental in multiple successful cross border and domestic M&A deals along with domestic private equity investments.
He started the workshop explaining the strategic reasons behind Mergers and Acquisitions and how it helps in inorganic growth of a firm. He described the entire M&A process in five simple steps:
1) Target Short Listing
2) Term Sheet
3) Due Diligence
4) Definitive Agreements
5) Closure of Deal
He followed a case approach to explain the real world M&A deals. Students were divided into groups representing the buyers, sellers and Investment bankers. A case on acquisition of a product and engineering organization by an aerospace organization formed the crux of the discussion. Both the buy and sell side investment bankers were asked to make the valuation of the target firm. Students used various valuation techniques like DCF and relative valuation and arrived at the value of the firm. Then after various rounds of negotiations finally the deal was struck. This approach gave the students an insight into how M&A happens in real world and the problems faced by the investment bankers in making a deal. Mr. Disley was able to put in a nut shell his vast experience in the field of M&A through this workshop and students had a firsthand exposure to the intricacies of M&A activities.
– Finance Forum