By world standard, the majority of firms within Trinidad &Tobago (T&T), or for that matter, the wider Caribbean are relatively small and inefficient. However, despite some recent infamous antecedents in the financial landscape emanating mainly in T&T with regards to a conglomerate expansion, firms integrating efficiently and effectively with one another, vertically and horizontally or as holding companies, would provide the avenue by which they can strengthen their global competitiveness.
The benefits of mergers and acquisitions include synergies, tax savings, efficiency, strategic international competitiveness, and stakeholders' wealth creation. Consolidation among firms permits the firm's management to vent a level of hubris through strategic acquisitions and mergers among the willing and the able and even, the unwilling such as in the case of a hostile tender offer signaling to market participants
the strategic intent of the firm. As to be expected from any experiment, there are successes and there are failures. Luckily, there are much more successes than failures upon which we can draw in order to have a fuller understanding and appreciation of the need for Caribbean firms to grow both organically and inorganically.
This workshop would be broad in scope and lean in depth, but would nevertheless give participants a well-grounded understanding of this problematic area in corporate finance.
This workshop would be beneficial to persons involved at the strategic level within their companies such as upper-level management and including those interacting within the areas of research and development for their company. This workshop is also designed for those who are in the marketing areas of their firm, personnel in government-related agencies who deal with all kinds of merger and acquisition issues including subsidiaries and parent relationships of the multinational enterprises, and credit personnel in banks and quasi-bank businesses.
Participants with no corporate finance, loans, or grounding in financial departments, but who would like to gain exposure into the intricacies of the consolidation aspects of business entities are also welcomed given that the workshop starts at the introductory level by reviewing entry level concepts but then, quickly accelerates to a paraprofessional and even professional consultancy levels.
Upon completion of this workshop, participants should be able to:
- Familiarise themselves with the terminologies in this dynamic area of corporate finance.
- Develop a clear understanding and appreciation for the need of firms to grow organically and inorganically and to identify and isolate merger targets.
- Review the consolidating trends among businesses locally, regionally, and internationally.
- Develop an understanding of, and the capability to identify takeover strategies including the corresponding anti-takeover posturing.
- Develop and understanding for, and an ability to value a firm from both the viewpoints of acquiree and acquirer including the consolidation of "merger among equals."
- Develop the ability to identify winners and losers and the role of the state in ensuring consumer welfare is in the mix.
- Familiarise themselves with techniques of loose alliances that fall short of full integration such as corporate alliances, leverage buyouts, management buyouts, divestitures, subsidiaries, holding companies, ESOPs and the inclusion of the antithesis, reverse LBOs and reverse mergers.
Topics covered in this workshop include:
- The merger and acquisition waves, locally, regionally, and internationally
- Fundamental corporate finance knowledge relating to the areas of mergers and acquisitions
- The why and how for expansion and includes the sources for financing
- The motives for merging, including winners and losers in the integration process
- The role of state institutions in promoting societal good through market efficiency
- Value drivers of the business as well as the overt and covert financial vulnerabilities
- The varying methods for calculating cost of capital, intrinsic valuation, and value maximisation
- Due diligence, full disclosure, and fair value
- Cross-border mergers and acquisitions, banking, steel, and mining.
- Cartels, interlocking directorates, and competition within CARICOM
- Key terms and conditions, covenants and pricing, of different sources of acquisition finance
- Corporate alliances, LBOs, agency problem, divestitures and the antithesis- reverse LBOs and mergers
- Identifying and isolating targets for mergers, takeovers, and merger among equals and the possible target defenses
Facilitator: Dr. Maharaj Ph.D., Corporate Finance
Dr. Maharaj Ph.D., Corporate Finance.
|Date||View Event Calendar|
|Time||8:30 pm – 4:30 pm|
|Cost||TT $4,500.00 (inclusive of training materials, refreshments and Certificate of Participation)
Please note that prices are subject to change without notice.
|Venue||Arthur Lok Jack Graduate School of Business
Max Richards Drive,
Uriah Butler Highway, North West,
Brent Cassim - ext. 330
Certificates will only be issued to participants who have attained a minimum attendance rate of 75% for the duration of the course.
Course Cancellation/ Reschedule Policy
Arthur Lok Jack GSB (ALJGSB) reserves the right to cancel training at any time. If ALJGSB cancels the training due to unforeseen circumstances beyond the control of ALJGSB, you are entitled to a full refund of the course fee, or your course fee can be credited toward a future training, based upon availability (providing payments have been made before original advertised date).
ALJGSB reserves the right to reschedule training at any time. If ALJGSB reschedules training due to unforeseen circumstances beyond the control of ALJGSB, the training will take place at the next available time. Participants will be informed via phone and/or e-mails.