While new IPO's continue to lag, M&A activity remains unabated among public and private companies, private equity and venture capital investors. An M&A transaction may be the most important decisions a board makes. Hear from the experts about the board's role in enhancing and creating value through M&A oversight - valuation, due diligence, structuring and integration. Topics for consideration include:
Board oversight of a company's business portfolio to buy, sell or hold. Understanding the risk and reward value proposition of a deal. Governance, strategy and long-term value creation -- planning for the day after closing. When should the Board initiate a review of strategic options? Communicating the value proposition to investors. Choosing among deal financing currencies -- idle cash, debt, stock. What are the trends in deal pricing, structure and most active industries for M&A? When not doing the deal is the right deal.
Frank has been directly involved with over 50 transformational M&A transactions, totaling over $10 billion and spanning software/technology, media/publishing and professional services. He has served on numerous public, private and tax-exempt boards and currently serves on the boards of NACD-NJ and H.S. Grace & Co., Inc. and on the Finance Committee of The Conference Board. From 2004 -11 he served on the board and as Audit Committee Chair of Blackboard, Inc., as well as the Nominating/Governance Committee and the Special Committee that negotiated the $1.8 billion sale of Blackboard to private equity. From 1997 to 2011 he was CFO/Office of the President at ETS (global assessment, license and certification company) and he had a 20-year career with The New York Times Company (media conglomerate), including as VP/Financial Management and VP/Chief Accounting Officer. Frank began his career with Deloitte in New York, and is a CPA and a NACD Fellow.
PJ is Co-CEO and Senior Managing Director, Valuation Research Corporation,
and specializes in the valuation of businesses, assets and liabilities for financial and tax reporting purposes. PJ is the current chair of the Appraisal Issues Task Force (AITF) and is a frequent presenter on valuation issues. He recently presented on valuation issues relating to ASC 805, ASC 350/360, ASC 820 and was a member of the Appraisal Foundation's Working Group preparing an industry practice aid for valuing customer related assets. He has been quoted numerous times in the press regarding valuation issues.
Glenn is a transaction services partner and leader of PwC's deals practice in New Jersey primarily focused on assisting pharma & life science companies and private equity based funds in evaluating and executing deals. Glenn has over 20 years of merger and acquisition and financial advisory experience spanning the US, Europe and Asia, including a two-year secondment assignment in Germany serving both large corporate and private equity clients on M&A activity in the pharmaceutical sector across Europe. Glenn also has significant experience advising and assisting clients on their emerging markets agenda and deals in the phama, medical device and consumer over-the-counter medication sectors in Brazil, India, China, Turkey and Russia. He is also a CPA and a member of the AICPA.