Why do the majority of M&A transactions fail to provide the benefits that companies predict or expect? How do you formulate and execute an M&A strategy that creates real value for your organization? Stanford's Mergers and Acquisitions program tackles the entire M&A process from beginning to end, combining an interdisciplinary curriculum with a hands-on, week-long team simulation project.

Optional Accounting Refresher: July 26, 2015
Program tuition includes private accommodations, all meals, and course materials.

Overview

Immersive. Experiential. Collaborative. Through a dynamic mix of lectures, case studies, class discussions, hands-on learning, and guest speakers, this program provides critical insights and powerful tools for the successful formulation and execution of an M&A strategy—one that creates true value for your organization. At the end of each day, you'll put classroom learning into action, applying key concepts learned to a simulated merger deal.

By combining the expertise of Stanford's strategy, finance, accounting, and organizational behavior faculty, Mergers and Acquisitions offers a unique, interdisciplinary overview of the major elements of M&A transactions. You'll examine all of the key aspects of a merger — target selection, alternative valuation and pricing models, deal design, negotiation strategies, accounting and tax planning, and post-merger integration planning and execution. And you'll cover these essential concepts in a sequential order that simulates the M&A process.

Faculty Director
Other Faculty
Ron Kasznik

Paul L. and Phyllis Wattis Professor of Management at Stanford Graduate School of Business. He specializes in financial accounting and its interactions with the capital markets. Specifically, his research looks at the determinants and outcomes of corporate discretionary disclosures, with particular emphasis on managerial incentives to manage expectations of future firm performance. These incentives are attributable to financial transactions such as M&A and other corporate restructuring, as well as executive compensation plans.

Thomas M. Siebel Professor of Business Leadership, Strategy, and Organizations; Affiliated Faculty, Woods Institute for the Environment at Stanford; Codirector of the Executive Program in Strategy and Organization

The Mizuho Financial Group Professor of Finance

Adams Distinguished Professor of Management; Director of the Managing Teams for Innovation and Success Executive Program; Director of the Influence and Negotiation Strategies Executive Program; Codirector of the Executive Program for Women Leaders

Atholl McBean Professor of Organizational Behavior and Human Resources; Professor of Sociology (by courtesy), School of Humanities and Sciences; Academic Director, Stanford Innovation and Entrepreneurship Certificate; Director of the Managing Talent for Strategic Advantage Executive Program; Codirector of the Customer-Focused Innovation Executive Program

Professor of Finance; Director of The Emerging CFO: Strategic Financial Leadership Executive Program; Dhirubhai Ambani Faculty Fellow in Entrepreneurship for 2014-2015

Video Introduction
"The key to success of an M&A transaction is understanding the perspective and mindset of the person on the other side." — Ron Kasznik

Meet faculty director Ron Kasznik and learn about the unique aspects of this interdisciplinary M&A program.
Key Benefits

Mergers and Acquisitions will help you:

  • Gain critical insights and powerful tools to formulate and execute a successful merger or acquisition
  • Understand all aspects of M&A transactions (strategy, finance, accounting, negotiations, legal, and culture)
  • Increase your awareness of the common pitfalls of failed M&As
  • Develop the critical competencies needed for successful post-merger integration and performance
  • Refresh your basic finance and accounting skills with optional tutorials
 
 
 
 
 
 

Program Highlights

M&A TEAM SIMULATION PROJECT
The M&A team simulation proprietary project spans the entire week of the program, and provides hands-on experience with all aspects of an M&A deal, giving you the opportunity to implement the tools acquired throughout the week. At the end of the week, teams will present their decisions and outcomes to share their learning.

NEGOTIATION: GETTING (MORE OF) WHAT YOU WANT
The process of negotiation requires an understanding of both the negotiator's and counterpart's interests and preferences. But many negotiators do not give sufficient consideration to identifying what they want. And, many more negotiators do not have sufficient insight into the perspectives of their counterparts to put forward value-creating proposals. This session will explore strategies to follow and pitfalls to avoid, enabling negotiators to get more of what they want out of negotiations by improving the quality of their planning and preparation processes.

M&A TAX PLANNING
Deciding on a particular structure for an M&A deal can have major income tax implications for both the buyer and seller, which is why it's imperative that even nonfinancial executives understand the fundamentals of successful M&A tax planning. During two class sessions, you will gain familiarity with several basic tax structures for M&A deals, understand the circumstances under which particular structures are more favorable, and recognize how a carefully planned tax strategy can help maximize the potential value of a particular deal.

POST-MERGER INTEGRATION
Before an M&A deal is done, the planning of successfully integrating and managing the newly combined organization should be well underway. Using research and business cases as references, you will analyze and discuss the structural, cultural, and social implications of combining organizations. You'll identify the core components of a post-merger integration model to capture and deliver the potential value of merger opportunities and learn practical tools for cultural integration.

Who Should Attend?

Mergers and Acquisitions requires no prior M&A experience. It’s specifically designed for:

  • Senior-level executives and entrepreneurs with at least 10 years of management experience, whose firms are potential acquirers or targets for acquisition by another firm
  • Examples of functions and titles include business development, corporate development, finance, CEO, general manager, strategic planner, and banker
SAMPLE Participant Mix
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Merging, acquiring, or being acquired are some of the most important means by which companies and entrepreneurs respond to changing economic and financial conditions.
– Ron Kasznik
Paul L. and Phyllis Wattis Professor of Management; Director of the Mergers and Acquisitions Executive Program
Stanford Graduate School of Business
We are excited to launch this new program that utilizes the research-based knowledge of some of our leading faculty to provide an interdisciplinary overview of the strategic, financial, legal, organizational, and cultural factors associated with the successful planning and execution of M&A transactions.
– Ron Kasznik
Paul L. and Phyllis Wattis Professor of Management; Director of the Mergers and Acquisitions Executive Program
Stanford Graduate School of Business
Our goal is to provide program participants the tools that will help them identify and access the potential value offered by acquiring or selling companies.
– Ron Kasznik
Paul L. and Phyllis Wattis Professor of Management; Director of the Mergers and Acquisitions Executive Program
Stanford Graduate School of Business

Facilities

 
 
 
 
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Stanford University
The Stanford campus is world renowned for its natural beauty, Spanish mission-style architecture, and temperate climate. With more than 8,180 acres (3,310 hectares), Stanford's campus ranks as one of the largest in the United States. Participants in Stanford's Executive Programs become part of a quintessential university setting, residing together, walking or biking to classes, and enjoying access to Stanford University facilities.
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The Knight Management Center
Opened in spring 2011, the Knight Management Center has transformed the Stanford Graduate School of Business into a vibrant and unified indoor-outdoor, living and learning community. Participants will take classes at this new state-of-the-art campus, which features tiered classrooms with extensive floor-to-ceiling glass, the latest in audiovisual technology, numerous breakout and study rooms, outdoor seating areas to encourage informal discussion, and an open collaboration lab that employs hands-on and design thinking techniques.
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Schwab Residential Center
Designed by renowned Mexican architect, Ricardo Legorreta, the Schwab Residential Center gives residents ample privacy while promoting collegial interaction through shared lounges, outdoor meeting areas, a library, and an exercise room.
 
 
 
 
 
 

Program Feature

M&A TEAM SIMULATION PROJECT
The M&A team simulation project has been designed around the unique needs of executive-level participants. This Stanford GSB proprietary project spans the entire week of the program, and provides hands-on experience with all aspects of an M&A deal, giving you the opportunity to implement the tools acquired throughout the week. At the end of the week, teams will present their decisions and outcomes to share their learning.

Contact

Sophia Yang Ghaffary
Director, Programs and Marketing
Phone: +1.650.723.5637
Email: sophiayang@stanford.edu


The Stanford Difference

The Place: Immerse yourself in innovation.
The Experience: Transform your thinking, your career, your company.
The Approach: Challenge yourself with research-based learning and real-world experience.