M&A Value Creation

Aswath Damodaran Professor of Finance at New York University Stern School of Business

This highly interactive M&A Master Class starts with an unvarnished look at acquisition performance and presents challenging questions on risk-adjusted returns. The discussion moves into methods for determining intrinsic target value and approaches for heading off over-paying for acquisitions. Using empirical examples, the course then offers practical insights on creating long-term value.

  • Identify pitfalls in acquisition modeling to avoid value erosion
  • Head off missteps in the financial analysis of a transaction
  • Improve your ability to evaluate M&A targets

$1,500 | $0 for Members Learn About Membership Accounts

Friday, January 16, 2026 | 10:00 - 3:30 (CST)

Live Online

M&A target modeling

  • Determining intrinsic target value
  • Matching cash flows to appropriate discount rates 
  • Consistent applications of historical risk premiums 
  • Assessing and avoiding currency mismatches and fluctuations 
  • Running a beta regression and heading off gaming 
  • How to bring the risk into the analysis?
  • Appropriately estimating equity risk premiums 
  • Missteps to head off in DCF formulations 

M&A value enhancement techniques

  • Increasing cash flows from existing assets 
  • Reinvestments and improving the return on capital 
  • Extending the duration of cash flow growth 
  • Reducing the cost of capital 
  • Avoiding the control premium trap 
  • Using Economic Value Added as a measure of value creation 

Methods for creating long-term value through M&A

  • Separating target’s risk characteristics 
  • Mitigating debt and cost of capital subsidies 
  • Analyzing true cost and revenue synergy opportunities
  • Identifying exit multiples and comparable traps
  • Enhancing M&A governance 
  • M&A value creation principles

The Institute is an accredited provider of CLE in Illinois. This M&A Master Class offers 4.75 CLE credits. An Illinois certificate will be issued. If you are licensed in another state, please check for reciprocity regarding continuing education credits.


Aswath Damodaran Professor of Finance at New York University Stern School of Business

Professor Damodaran is the author of several highly-regarded and widely-used texts on Valuation, Corporate Finance, and Investment Management. His interests lie in disentangling value drivers and understanding market pricing and behavior.

He has been teaching for the Institute since 2023.

“Fresh and honest perspective. Many of Professor Damodaran's comments resonated with me and my experiences but rarely have I heard anyone voice it (especially so eloquently)."

Manager

ExxonMobil

Transaction Manager

Pratt & Whitney

“The M&A Value Creation Master Class is directly applicable to my day to day role and I can already see myself utilizing this perspective in forthcoming valuation modeling and to support the deal decision process.”

Director, Mergers & Acquisitions Finance

Microsoft

"I found Aswath Damodaran to be a wonderful facilitator. Throughout the M&A Master Class he was informative on the topic and gave thoughtful responses to questions. I also appreciated his cynical view of acquisitions. I think it's great that he provided the group with a constructive counterview."

Vice President, Corporate Services

Progress Rail

"The best aspect of the M&A Value Creation Master Class is Professor Damodaran's ability to break down complex themes and provide great guiding principles on identifying and value synergies, establishing the appropriate cost of capital, and other sobering lessons for M&A practitioners."

Executive Director of Corporate Development, M&A

JLL

"Professor Damodaran had a wealth of knowledge to share on the most critical aspects of M&A. If you want a crash course on M&A finance, valuation, and value creation this is the one. His teaching style is incredibly engaging and digestible."

Corporate Development Lead

RTX Corporation

"Thank you for a fantastic session. Immediate value to my daily work.”

Group Head of M&A

Dentsu

"Value is our vocabulary and Professor Damodaran wrote the book. Having great content and presenters sets Transaction Advisors Institute high on my agenda of how to stay relevant in M&A."