Global M&A volumes hit new record levels in 2021. In public takeovers, acquirers often seek to reach 100% ownership in the target company which can be accomplished with a so-called "squeeze-out". Squeeze-outs are characterized by a majority shareholder forcing minority shareholders to transfer their shares to the majority shareholder against their will. For the transfer of shares, the minority shareholders are granted an appropriate compensation which is the higher of the fundamental firm value and the (volume-weighted) average stock price. The appropriate compensation is typically determined by an external appraiser.

 Contents:

• Legal requirements for squeeze-outs
• Determination of cash compensation
• Applicable valuation methods
• Case study

Goals of the workshop: 

The guest lecture will provide valuable insights into the practical valuation exercise in squeeze-outs. At the end of the guest lecture you will learn the legal requirements for initiating a squeeze-out and the approach to determine the appropriate compensation. In particular, we will talk you through the specifics of deriving the fundamental firm value as well as the (volume-weighted) average stock price.

Methods:

• Guest lecture
• Open Q&A during the lecture

Lecturer:

Dr. Moritz Bassemir is a Senior Director with Alvarez & Marsal Valuation Services in Frankfurt. He brings more than 12 years of experience in valuation and transactions.

Dr. Christian Büchelhofer is a Senior Director with Alvarez & Marsal Valuation Services in Munich. With nearly 15 years of valuation experience, he is an expert in leading interdisciplinary valuation project.

Company:

Companies, investors and government entities around the world turn to Alvarez & Marsal (A&M) for leadership, action and results. Privately held since its founding in 1983, A&M is a leading global professional services firm that provides advisory, business performance improvement and turnaround management services. When conventional approaches are not enough to create transformation and drive change, clients seek our deep expertise and ability to deliver practical solutions to their unique problems.

With over 5,000 people across four continents, we deliver tangible results for corporates, boards, private equity firms, law firms and government agencies facing complex challenges. Our senior leaders, and their teams, leverage A&M's restructuring heritage to help companies act decisively, catapult growth and accelerate results. We are experienced operators, world-class consultants, former regulators and industry authorities with a shared commitment to telling clients what's really needed for turning change into a strategic business asset, managing risk and unlocking value at every stage of growth.

Registration: Follow the link here

Date: 17.11.2021, 18:00–19:30 o´clock

Venue:
You will receive the access link to the online seminar by e-mail one or two days before the event begins.