Valuation Mini-Workshop

November 12, 2009 7:30 AM CT

How is fair value calculated in determining what to pay for an acquisition and how does that get communicated to shareholders? Learn from participants on both sides of an acquisition to understand how the process works and how to effectively communicate your message. Our panel of experts will discuss how both the acquirer and the target company evaluate the offer and what analysis and steps are considered as they focus on ensuring the fullest value to shareholders. Come prepared to ask questions during this hands-on, how-to workshop.

7:30 to 8:00 a.m. Registration and Continental Breakfast
8:00 to 9:30 a.m. Program

Jeffrey J. Vergamini
Executive Director, Mergers & Acquisitions
Morgan Stanley
Mr. Vergamini serves as the primary execution coordinator on the merger and acquisition advisory assignments for Morgan Stanley's clients based in the Midwestern United States. Since joining the firm in 2006, major transactions include the sale of CDW to Madison Dearborn and the sale of ServiceMaster to Clayton Dubilier & Rice, Inc. Previously, Mr. Vergamini was in the investment banking division of Lehman Brothers for seven years, and prior to that with the investment banking group of William Blair in Chicago.

A. Jacqueline Dout
Board Member, School Specialty
Former Chief Financial Officer and Secretary, Pella Corporation
Ms. Dout has served on corporate boards and as the chief financial officer of both Fortune 500 and privately- held companies in a variety of industries. During her career, she has completed more than 100 acquisitions and their integrations. The results of the acquisitions and the corporate strategies she has implemented reflect returns of up to five-fold increases in business value and cashflow. Ms. Dout has also served on numerous non-profit boards, including the Iowa State Board of Education and several university boards.

Thyra Zerhusen,
Chief Investment Officer, Mid-Cap
Optimum Investment Advisors
Ms. Zerhusen joined Optimum Investment Advisors in 2003, and is the lead Mid-Cap portfolio manager of the Aston/Optimum Mid Cap Fund, the Parvest US Mid Cap Fund, and institutional accounts within Mid-Cap. Previously, she managed the ABN AMRO Mid-Cap Fund while at Talon Asset Management. Known for her in-depth financial analyses of company fundamentals and industry trends, Ms. Zerhusen has been a guest on Wall Street Week with Louis Rukeyser, CNNfn's Mutual Fundamentals, Bloomberg, and CNBC.

Elizabeth M. Higashi, CFA (moderator)
Principal
Sard Verbinnen & Co.
Ms. Higashi advises corporate clients on investor relations issues, including acquisitions, mergers, divestitures and IPOs. She has directed investor relations and communications for three Fortune 500 companies, which included numerous acquisitions, mergers, spinoffs and a leveraged buyout. She began her career as a financial analyst for one of the nation's largest mutual fund and investment advisory firms, and is a member of the CFA Society of Chicago and an officer of NIRI-Chicago.

Metropolitan Club, Willis Tower, 66th Floor
233 S. Wacker Drive
Chicago, IL

Presentation