M&A Valuation

Donna Hitscherich Senior Lecturer of Finance at Columbia Business School

This dynamic M&A Master Class provides practical coverage of the most important valuation concepts and their application when evaluating complex corporate transactions. The curriculum moves through various M&A valuation approaches and identifies the key assumptions and decisions that may impact conclusions of value.

  • Avoid missteps in examining M&A valuation models
  • Detect risks in the formulation of valuation models and pro forma forecasts
  • Construct and optimize the M&A valuation process to validate a deal thesis

Learn About Membership Accounts

Friday, April 11, 2025 | 10:00 - 3:30 (CST)

Live Online

Building a valuation model for M&A

  • Understanding and comparing various valuation methodologies
  • Understanding a discounted cash flow model
  • Understanding valuation multiples
  • Understanding the LBO valuation model used by PE firms
  • Estimating growth rates and terminal value
  • Methods for determining the discount rate
  • Methods for selecting multiples


Governance of the valuation process

  • Understanding risk premiums
  • Stress-testing valuation models / identifying bias
  • Applying appropriate valuations discounts
  • Testing assumptions in diligence
  • Understanding valuation ratios and drivers
  • Using outside advisors for quality-of-earnings and fairness opinions
  • Validating and stress testing the valuation


Applying the valuation model

  • Linking valuation modeling and bids/LOIs
  • Differences applying valuation principles to public companies versus private companies
  • Adapting valuation for venture-backed and high growth companies
  • Using valuation sensitivity analysis to maintain pricing discipline
  • Linking valuation to deal structure
  • Knowledge capture / process refinement
  • Avoiding common mistakes and pitfalls

This M&A Master Class may provide 4.75 CLE credit hours.

Donna Hitscherich Senior Lecturer of Finance at Columbia Business School

Professor Hitscherich held senior investment banking positions at CS First Boston, J.P. Morgan, and Banc of America Securities with responsibility for fairness opinions, takeover defense, and for the firms’ training programs. Earlier she was a corporate lawyer at Skadden, Arps, Slate, Meagher & Flom.

She has been teaching for the Institute since 2021.

“This M&A Master Class really helps break the valuation process into more digestible information. Professor Hitscherich is an excellent lecturer and her passion for M&A really shines through, and in-turn makes the lecture more engaging."

Corporate Development Analyst

Oshkosh Corporation

Vice President of Corporate Development

Sony

"Professor Hitscherich is a great instructor and is engaging. I learned a few things today and it was good to interact with peers in breakout rooms."

Business Strategy Manager

Hewlett Packard Enterprise

"Professor Donna Hitscherich is very knowledgeable of the valuation techniques and has run the class with lot of energy."

Vice President, Deputy General Counsel

Carlisle Companies

"Professor Hitscherich's presentation exceeded my expectations. She covered a lot of material at a "user friendly" level and kept my attention from start to finish. Time well spent for me.”

Senior Manager, Corporate Strategy & Development

Raytheon Technologies


"This M&A Master Class was interesting and relevant, supported by great discussions and an awesome instructor."

Analyst

JLL

"The M&A Master Class was a great source of information. Wonderful examples, very digestible and engaging. Having resources to view on your own, in parallel to the presentation and discussion was extremely helpful. Without much background in the M&A space, but a strong foundation in finance, economics and modeling, it helped bridge some knowledge gaps and identify key areas for future learning."

Senior Vice President, Secretary and General Counsel

Graybar Electric

“The M&A Valuation Master Class was terrific. The exchanges with the professor and participants were invaluable. The course material was very informative and I'll use it in the future.”