Strategies for success in European auction processes
A webinar for private equity investors
Many commentators predicted that the onset of COVID-19 would result in more buyer-friendly conditions in the European private equity market. Experience suggests that the reverse has transpired: the number of high-quality assets available for sale has decreased and, with no shortage of buyers with significant financial firepower targeting them, sellers of desirable assets have been able to run extremely aggressive auction processes. With multiple bidders willing to offer a significant premium on assets, bidders are increasingly at risk of missing out on an asset, by mis-positioning the non-financial aspects of their bid.
This discussion will help you succeed in competitive auction processes in Europe by focussing on the key strategic issues that North American bidders should consider, in particular, taking account of the differences in market practice on both sides of the Atlantic.
Issues which will be covered include:
Assessment of pricing mechanisms
Ensuring certainty of funds
A roadmap for satisfaction of mandatory conditions
Planning a targeted diligence process
Management rollover and considerations for incentivisation in the local market
Outgoing sponsor co-investment
The mindset and approach of corporates in auction processes
This webinar will take the format of a panel discussion with plenty of opportunity to have your questions answered.
Our panellists have all been involved in European auction processes on behalf of US private equity investors over the past several months, with the most recent just concluded.
Anu Balasubramanian, Vice Chair, PE Practice
Garrett Hayes, PE Partner
Jamie Holdoway, Associate
Roger Barron, Global Vice Chair M&A, Corporate
Amit Mehta Global Chair, Corporate