The Mergers & Acquisitions 2013 Conference – Discussing Recent Deals in Public & Private M&A

Date 22 Apr 2013
Times8:50 - 17:30
1 participant£499.00 + VAT (£598.80)
2 participants£455.00 + VAT (£546.00) each
3+ participants£430.00 + VAT (£516.00) each
SRA CPD Hours6

Sponsor from Malta:

Media Partner:

Confirmed Speakers from:

Welcoming note from the chairman.

The excitement surrounding the recent announcement of several multibillion dollar transactions involving U.S. companies has sparked talk of a renewed wave of M&A. Midway through the first-quarter of 2013 worldwide M&A volume has approached c.US$302 billion .However, only two regions, the U.S and Asia/Pacific, are experiencing year on year increases, leaving other regions waiting for their turn in the sun.

A number of key drivers point to enhanced prospects for international M&A. Whilst some of the exuberance seen in the US, especially in private equity backed deals, may be spreading across the Atlantic, the mixed set of results that we have seen from some of Europe’s leading companies during the recent reporting season may not bode well in giving confidence to execute M&A transactions.

With significant capital to deploy, we can expect private equity firms to show strong interest as companies continue to spin-off non-core assets. At the same time, private equity firms are under pressure to dispose of portfolio companies as they seek to realise their investment and raise new funds. The considerable fire-power of private equity may jump-start more M&A activity, possibly prompting companies to get off the sidelines and compete for assets.

With abundant liquidity in both the loan and bond markets and favourable valuations in many sectors, the missing link is confidence, which is the life blood of M&A. The extent to which continued Eurozone and global uncertainty can be considered to constitute a “new normal” and perhaps tempt companies with so-called “pent up demand” for deal-making to engage in big strategic acquisitions in 2013, from which they have understandably shied away in 2012 in favour of bolt-on acquisitions , remains to be seen. The conclusive resolution of the US fiscal cliff, slower growth in Asia and emerging markets and muted Eurozone recovery are all obstacles to M&A activity. Caution is the watchword for most of the world’s leading markets at the moment.

Looking ahead, the Eurozone crisis and growth in emerging economies are likely to have a significant impact on global M&A activity as opportunists seek to buy up under-priced assets in periphery Eurozone countries and acquirers look to strengthen their business in Asia Pacific and Latin America in order to benefit from growth prospects in these regions. At the same time we can expect a growth in intra-regional deal activity in the Asia Pacific region. Potential acquirers are at the same time all too aware of the potential for the Eurozone crisis to impact on a global basis and to threaten growth in emerging economies.

This conference covers many of the key issues involved in public and private company M&A. It will provide an analysis of recent deals, the outlook for 2013, examining the sectors that are likely to provide scope for M&A and the prospects for emerging markets and EMEA activity. Latest developments in public company transactions will also be addressed including the implications of regulatory changes, especially those to the Takeover Code, which took effect in the autumn of 2011 and the resulting challenges facing bidders.

With hurdles for doing deals likely to remain high, the conference will also consider the role of M&A advisers and how they can add value effectively and adapt to an ever changing market landscape.

I look forward to welcoming you to the conference.

Michael Potter

Loan Syndication and Placements
Sumitomo Mitsui Banking Corporation Europe Limited

Conference Topics and Presenters:

08:15 – 08:45 Coffee & Registration

08:50 Chairman’s Opening Remarks

Michael Potter, Loan Syndication and Placements, SMBC Europe
More information on Michael available here

09:00 Doing the right deal: creating value through M&A in volatile times

Sriram Prakash, Head of M&A Insights and Deal Origination, Deloitte
  • State of M&A markets – a review of 2012
  • M&A landscape – conditions for deal making
  • What should we expect going forward in 2013
  • Creating value through M&A in volatile times
More information on Sriram available here

09:35 Selling companies at the best possible price.

Andrew Clegg, Senior Director M&A, KPMG
  • A brief history of how M&A processes have evolved over the last 30 years
  • The new investment environment post Lehman and the Euro crisis
  • Vendor feedback on maximising value during a transaction
  • The bespoke sale process – working in partnership with clients
  • Common areas to focus on when preparing a business for sale
More information on Andrew available here

10:10 M&A Outlook – hot sectors for 2013

Mark Brockway, Director – M&A, Ernst & Young LLP
  • Clean energy – $250b a year industry
  • Why is renewable energy a compelling growth story?
  • How competitive are the technologies v traditional energy?
  • Renewables landscape – spotlight on
    • The changing face of government support
    • Transaction and financing activity increasing
    • Global corporates allocating significant investment
More information about Mark available here
10:45 Morning Coffee & Networking Opportunity

11:05 UK M&A Market in 2013 – Recent Deals

Peter Bell, Managing Director, EMEA M&A, Bank of America Merrill Lynch
  • Overview of announced transactions
  • Q1 2013 vs Q1 2012 vs Q4 2012
  • Trends for 2013
  • Transaction types
  • Case studies
More information about Peter available here
11:40 M&A activity between Europe and emerging markets – strong performance sectors
Neil Sutton, Chairman – Corporate Finance UK, PwC
  • Overview of recent European Deal activity with emerging markets and other hot cross border deal flows
  • European activity with Japan
    • Key deals
    • Key deal points and issues encountered
    • Likely future trends with Europe and Japan
  • European activity with Brazil
    • Key deals
    • Key deal points and issues encountered
    • Likely future trends with Europe and Brazil
  • What M&A activity is coming next?
More information on Neil available here

12:15 The new M&A adviser landscape
William Fage, Director, Industrials, RBC Capital Markets
  • How has the adviser competitive landscape evolved in the past 10 years?
  • What are the implications?
  • Many corporates consider they are equipped to self-advise on M&A projects.
  • How can advisers prove their value-added effectively?
  • How does the industry need to change to adapt and stay profitable?
More information on William available here

12:50 Lunch & Networking Opportunity

14:05 M&A Deals: Issuing listed equity in connection with an acquisition

Rebecca Cousin, Partner, Slaughter and May
  • Methods of raising listed equity finance to fund an acquisition
  • Impact on timing for the acquisition
  • Requirement for and contents of a prospectus in the context of an acquisition, including the impact of the proportionate disclosure regime
  • Shareholder approvals
  • Issues for the seller / target including reverse due diligence, exchange ratios for consideration shares and issues regarding the prospectus
More information on Rebecca available here

14:40 Market Implications of recent regulatory changes in M&A
Robert Hingley, Senior Adviser, Lazard
(Former Director General of The Takeover Panel)
  • 18 months on – how has practice changed
  • Deal preparation/impact of new announcement regime
  • Deal protection
  • Dealing with rival approaches
  • Death of hostile bids?
  • Rise in corporate activism?
  • Political climate/has there been enough change?
More information on Robert available here

15:15 Afternoon Tea & Networking Opportunity

15:35 Cross Border M&A Trends

Simon Lyons, Managing Director EMEA M&A, UBS
  • Understanding the trends in cross border volumes
  • Reactions to cross border M&A
  • Special considerations for successful transactions
  • Flowback
  • In and outbound transactions with Asia

16:10 Negotiation Issues in Private M&A Deals
Adam Kirby, Partner, Norton Rose LLP
  • Main areas of contention
  • Warranties and indemnities
  • The disclosure letter and the data room
  • Completion accounts v locked box
  • Specific areas
More information on Adam available here

16:45 M&A activity and the pursuit of growth
Gilberto Pozzi, Head of EMEA Mergers & Acquisitions, Investment Banking, Goldman Sachs
  • Current status of the M&A market
  • Expected developments in the M&A market
  • M&A in the emerging markets: Acquirers or targets?
  • M&A as a tool for growth: the example of the consumer good industry
More information on Gilberto available here

17:20 Chairman’s Closing Remarks

Michael Potter, Loan Syndication and Placements, SMBC Europe

17:30 End of conference

Please note that this event is a conference and not a training course. Participants will listen to many expert speakers and will have the opportunity to ask questions, but there is no formal training, exercises or tuitional material being delivered. Should this be your objective, Redcliffe organises several training courses in this and related subjects. Please click here for full details.