By completing this M&A Master Class you will be better prepared to

  • Develop and apply a valuation model to maximize the economic benefit of a transaction

  • Properly identify the risks associated with valuation models and other deal forecasts

  • Reduce the amount of time absorbed by the valuation modeling process


Curriculum

Building a valuation model for M&A

  • Understanding and comparing variousProfessor Donna Hitscherich
    Professor Donna Hitscherich
    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, distressed companies, and minority interests
  • Using valuation sensitivity analysis to maintain pricing discipline
  • Linking valuation to deal structure
  • Knowledge capture / process refinement
  • Avoiding common mistakes and pitfalls


Faculty

Professor Donna Hitscherich is a senior lecturer of Finance, director of the Private Equity Program, and a Bernstein Faculty Leader at the Sanford C. Bernstein & Co. Center for Leadership and Ethics at Columbia Business School.

Prior to her position at Columbia, Professor Hitscherich had a career in investment banking, holding positions at CS First Boston, J.P. Morgan & Co. Inc., and Banc of America Securities. At J.P. Morgan, she helped found the takeover defense team and served as a senior member of the advisory review committee, which was responsible for all of the M&A fairness opinions issued by the company. As a managing director in the mergers and acquisitions group of Banc of America Securities, she was secretary of the firm’s fairness-opinion review committee and a major contributor to the firm’s training programs for managing directors and associates.

Prior to her investment banking career, Professor Hitscherich was a corporate lawyer at Skadden, Arps, Slate, Meagher & Flom.

Schedule

This M&A Master Class will be taught live online on 

Friday, February 24, 2023

10:00 am - 4:30pm (CST)


Awarded Upon Completion

Certificate of CompletionYou will receive 5.5 CLE and/or 6.5 CPE credits (if applicable) and course certification for LinkedIn.

You will also be invited to join a confidential discussion space for exchanging ideas, best practices, recommendations, and information with other M&A Master Class alumni.  


Testimonials

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

SVP - General Counsel

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

VP - Corporate Development

I found the content and Donna exceptional... I would definitely take another M&A Master Class.

SVP - Global Commercial Operations

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

Senior Manager - Business Development

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