Pillars of Wall Street - LBO on 02/06/16 (9:00 a.m.-5:00 p.m.) and M&A on 02/07/16 (9:00 a.m.-5:00 p.m.)

ATTENDANCE TO BOTH WORKSHOPS (LBO and M&A Financial Modeling) IS MANDATORY AND WILL GIVE YOU 0.5 CREDIT HOURS. THERE IS NO CREDIT GIVEN FOR ATTENDANCE OF ONE WORKSHOP.

Overview – The first day of the workshop covers leveraged buyout analysis through actual hands-on construction of an LBO model.  Each participant will build their own interactive LBO model from "scratch" to gain a detailed understanding LBO analysis.  The focus of the model is to effectively represent the interests of the three main constituents of the deal - the selling shareholders, the lenders and the financial sponsor.

The completed product allows for a dynamic evaluation of whether or not a company is a strong LBO candidate.  Specifically, participants will construct and analyze the following:

• Transaction summary detailing sources and uses of funds
• Key credit statistics to determine the appropriate capital structure
• Pro forma income statement and cash flow schedule
• Debt schedule with repayments, pro forma debt balances, and interest expense calculations for both senior and subordinated debt instruments
• Returns analysis to the financial sponsor

Overview – The second day of this intensive workshop is designed to develop an advanced understanding of merger consequences analyses through actual hands-on construction of an M&A model.  Each participant will build their own interactive M&A model from "scratch" to better understand the dynamics of merger consequences.

The completed products allow for a dynamic evaluation of whether or not a company should acquire a competitor or sell itself (merger consequences analysis).  Specifically, participants will construct and analyze the following:

• Transaction summary detailing sources and uses of funds
• Purchase accounting overview
• Creation of goodwill and write-ups, including possible incremental D&A
• Opening balance sheet and purchase accounting adjustments
• Concept of affordability analysis
• Synergies analysis, including phase-in of projected synergies
• Earning impact, including accretion/(dilution) analysis and synergies required to breakeven
• Credit rating considerations
• M&A transaction consideration (stock vs. cash social issues, etc.)
• Sensitivity analysis (summary pages and data tables)