Thursday, 26 September 2019
Registration and refreshments
Simon Anam, Managing Director, Asia-Pacific, ACURIS
Rod Sims, Chairman, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION
M&A update: Outlook and opportunities in Australia and beyond
Australian M&A has been in good shape in recent years, with M&A volume increasing 5% year-on-year; and 2019 only sees this ascent continuing. Apart from the mega deals at the top end of the market, the mid-market has firmly established itself as a good source of deal activity. The continued presence of private equity and more focus from superannuation funds and family offices helps to fuel momentum. However, at the forefront of everyone’s minds is increased regulatory scrutiny and macroeconomic uncertainty. Against this backdrop, join our panel of leading advisors to examine the current M&A landscape in Australia and share their views on the next 12 months.
- What are the macroeconomic and political developments shaping the M&A landscape?
- How has the landscape evolved and what role are new entrants playing?
- Which sectors are most attractive and less impacted by instability?
- What is outlook for the rest of 2019 and beyond?
Moderated by: Craig Mennie, Australian Head of Deal Advisory, KPMG
Joseph Fayyad, Australia CEO & Head of Investment Banking, BANK OF AMERICA MERRILL LYNCH
Marissa Freund, Chief Operating Officer, Mergers & Acquisitions, GOLDMAN SACHS
Iain Melhuish, Head of Debt Capital Markets, Australia & New Zealand, Executive Director, MACQUARIE CAPITAL
Daniel Teoh, Executive Director, UBS
Networking coffee break
Regulatory focus: An update on the current environment
Australia, just like many countries around the globe, has been making wholesale changes to the way it regulates. Whether it is the increased scrutiny on foreign investments, stricter governance, or protectionism, they all have the ability to extend the time it takes to get deals done. The Royal Commission findings have shaken up banking sector and, in the longer term, have the potential to create M&A opportunities. However, smart investors are looking to see what might come next. Our panellists will discuss how these regulatory hurdles are impacting M&A.
- What are the latest government policy shifts and regulatory updates?
- Which sectors outside of finance are likely to see increased deal flow due the Royal Commission findings?
- What sort of regulatory challenges do international buyers face in Australia, and how can they effectively manage them to get deals done?
- In the event that a deal is subject to regulatory review, how can this be planned for in advance, from announcement to completion?
Richard Dammery, Former Chief Legal Officer & Company Secretary, WOOLWORTHS GROUP
Tom Day, Vice President - Legal, BHP GROUP
Kim Demarte, Senior Specialist - Mergers & Acquisitions, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION (ASIC)
Case study: Healthscope, the good, the challenges, and the lessons learnt
This session will provide an opportunity to listen to key members of the deal team, explain one of the most interesting M&A deals of the past year - Brookfield Business Partners competitive $5.7 billion acquisition of Healthscope, Australia’s second largest private hospital and healthcare services provider. Learn how the innovative dual-track scheme of arrangement and takeover was structured to enable Brookfield to monetise Healthscope’s property assets simultaneously with closing the M&A transaction.
David Eliakim, Partner, KING & WOOD MALLESONS
Sophia Rihani, Senior Vice President, BROOKFIELD ASSET MANAGEMENT
Fireside chat: Public Deals: New Frontiers for W&I Insurance (*this session is closed to media)
Moderated by: Peter Gold, Private Equity M&A Pacific Sales Leader, MARSH
Diana Hu, M&A Underwriter, AIG
Chris McDermott, Head of PEMA-Pacific, JLT Specialty, MARSH
Public markets: Activism beyond shareholders
As investment strategies such as shareholder activism, hostile takeover bids, and other special situations become increasingly influential, corporates in Australia must ensure that they have developed a distinct playbook in order to communicate and engage with stakeholders beyond shareholders. In this session, our expert panel of speakers share their insights.
- How is activism unfolding, and which companies, sectors and countries have seen the most activity?
- What sort of activity are we seeing in M&A activism, and what can we learn from recent transactions?
- What defensive measures should be taken to decrease the likelihood of an attack, and what sort of procedure and plans should be in place if a shareholder decides to take action?
- What new role will boards have to take?
Moderated by: Simon Segal, Director, MERGERMARKET AUSTRALIA
Michael Chandler, Managing Director, SOVEREIGN GOVERNANCE ADVISORY
Stephen Mayne, Shareholder Activist
Brynn O’Brien, Executive Director, AUSTRALASIAN CENTRE FOR CORPORATE RESPONSIBILITY (ACCR)
Gabriel Radzyminski, Managing Director and Portfolio Manager, SANDON CAPITAL
Private Equity and corporates: A winning partnership?
Record levels of dry powder in private equity has increased the pressure on fund managers to commit capital towards deals, with them now appearing in every M&A deal. For corporates this increased competition has driven up prices and slowed down the execution process. However, with access to capital, expertise in navigating regulatory hurdles, good deal-sourcing channels, and post-deal value creation capabilities, private equity can be a natural partner instead of competitor. With this in mind, our seasoned GPs and corporates discuss the opportunities and challenges.
- How can private equity support Australian M&A, and what are the benefits of GP/corporate partnerships?
- Strategic investors vs private equity firms: What different expertise and approaches does each player bring to the table?
- What are the differences in expectations and interests, and how can they be minimised?
- What do the panel predict will happen over the next 12 months?
Moderated by: Duncan Mann, Managing Director and Head of Financial Sponsors, Australia, CREDIT SUISSE
Jonathan Chamberlain, Partner, BGH CAPITAL
Andrew Charlier, Managing Director, PACIFIC EQUITY PARTNERS
Michael Harris, Executive Director, AFFINITY EQUITY PARTNERS
Peter Langham, Chief Executive Officer, SCOTTISH PACIFIC
Presentation: Effective post-merger integration
This session will focus on developing a solid post-merger integration plan, as well as what needs to be in place once the deal-makers walk away, and how to avoid the pitfalls that cause many transactions to fail.
Lisa Barry, Partner, People & Change, KPMG
Mike Sum, Partner, KPMG Strategy, KPMG
Networking coffee break
Presentation: Better, Faster, Stronger M&A; Leveraging Technology and AI Across the M&A Lifecycle
Advances in technology and AI will replace low-value work and deliver insights across the M&A lifecycle, allowing deal practitioners to focus on what's important. A discussion on how technology can create competitive advantages to secure and execute more deals amid increased competition in a shrinking domestic/in-bound M&A market, combined with increasing momentum in cross-border deals as firms search for value opportunities globally.
Thomas Fredell, Chief Product Officer, MERRILL CORPORATION
Cross-border: Australia, open for business
Australia has firmly established its position as an attractive destination for international strategic and private investors, through its ability to deliver favourable deal opportunities, positive economics, and relative political stability. Although the US remains its top partner, Japan, Europe, and China also have a strong interest in the availability of quality companies and good returns. While there has been some push back by FIRB in recent months, sentiment and interest remains strong. Our panel of industry experts will give an overview of the current situation and discuss how Australia can position itself to take advantage of the right opportunities.
- Are local and international regulatory bodies hindering the potential for cross-border activity?
- Which sectors are most attractive for cross-border M&A?
- How do you identify the right targets and most suitable partners?
- How do corporates attract an overseas buyer, what image do they need to project?
Moderated by: Stuart Fuller, Global Head of Legal Services, KPMG
Alex Cartel, Managing Director, Head of Investment Banking Coverage, DEUTSCHE BANK AG AUSTRALIA
Michael Lion, General Manager, Corporate Strategy & Development, ORIGIN ENERGY
Simon Mordant AM, Executive Co-Chairman, LUMINIS PARTNERS
Drew Riethmuller, Managing Director, Head of Global Corporate & Investment Banking, Oceania, MUFG BANK
Close of conference and cocktail reception