Mergers, Acquisitions and Restructuring

In the realm of organizational survival within unpredictable, fiercely competitive, and relentlessly disruptive environments, the strategy of mergers and acquisitions (M&A) and restructuring has gained prominence.

While traditional industries perceive M&A as a means of survival and growth in a challenging environment, technology-driven sectors employ it to access emerging technologies and enhance their value chain.

M&A becomes paramount when pursuing global scale and defensive strategies. Notably, the Vodafone India-Idea merger and Adani Group's acquisition of ACC and Ambuja Cements exemplify M&A's strategic responses.

Globally, M&A announcements worth trillions highlight the strategic intent, even in tumultuous times like 2021. India's M&A landscape has evolved beyond established firms, with startups like Byjus, Delhivery, and PharmEasy scaling through M&As even before public listing.

Amid growth pursuits, companies also engage in strategic contraction, through divestitures and de-mergers. Despite popularity, M&A poses execution risks, with a success rate of 20%-30%.

Indian companies showcase mixed results, emphasizing the need for effective management. Given the extensive impact of restructuring, understanding macroeconomic and firm-level forces driving it is crucial.

IIMA's Mergers, Acquisitions, and Restructuring program provides insights into the multi-dimensional aspects of M&A. The program offers perspectives and skills for effective management of the entire M&A process. Real-life case studies and dynamic pedagogy will empower participants to comprehend value creation through M&A and restructuring.

Highlights

The programme will discuss the entire gamut of MA&R themes and sub-themes and topics as follows: 

• “What”? The different types of corporate restructuring transactions viz., business combination transactions such as mergers and acquisitions and break-up transactions such as demergers or spin-offs and divestitures. Takeaways also include the various players in the M&A field and their roles.

• “Why”? The motives for and drivers of M&A and restructuring activities such as value creation, preservation and sustenance through various strategic initiatives. These include product and/ or market expansion and/ or diversification, capturing of cost synergies etc.

• “When”? At what stage in an industry's or organization’s life cycle would the pursuit of these specific strategies be appropriate?

• “How”? The key elements in the M&A value chain viz., pre-acquisition planning, deal execution including valuation and financing, post-acquisition integration and management and regulatory aspects and deal structuring.

• “How-2?” Regulatory aspects and deal structuring. This module explores creativity in deal structuring and examines key relevant aspects of takeover and company law regulations, tax issues and insolvency and bankruptcy aspects.

• “How Not”? What can go wrong in M&A and how to avoid/ mitigate the common pitfalls.

Pedagogy

The learning experience will be intense with the pedagogy consisting of case analysis, faculty-led and peer-to-peer discussions and group work. The participants will explore a wide range of acquisition and restructuring situations to develop an understanding of value creation through mergers, acquisitions, and restructuring.

Eligibility

The program caters to top-tier management individuals tasked with shaping company growth strategies and senior executives engaged in strategy formulation, implementation, business development, and finance. These participants often hold responsibilities at the business unit, corporate, or group levels.