Why take this course

We think that merger modeling has many applicable uses and can be used in a wide range of scenarios and analysis. Imagine you are an investor evaluating a publicly announced transaction between two firms. Perhaps you are working at a company on the corporate finance side and your firm is involved in a potential merger. You may be planning on entering the M&A advisory side. In any case, this is the course pack for you.


Physical Book and Videos

A popular question from our participants after the financial modeling seminar is: "What skill comes next in terms of financial modeling after I have built a basic model?" We think that the next progressive step is to learn how to build a merger model. Sound difficult? This self-study will allow you to develop merger modeling skills in an intuitive and straight forward manner, through M&A theory and actual hands-on construction of a merger model from “scratch”. And no, you do not have to be an M&A banker to learn or utilize this course! If you are in any situation where you’d like to have the skills to model and analyze the impact of a deal, learning merger modeling is absolutely essential, and this course will give you those skills. This course is the self-study version of one of our most popular live training programs at the top investment banks, consulting firms, and other Fortune 500 companies, as well as the top MBA programs


  • 270 pages of a step-by-step guide
  • Approximately 5 hours of online instruction
  • Estimated time to complete is 12-15 hours
  • 12 months free access to Online Companion
  • Optimized for PC Excel 2007 / 2010 / 2013 / 2016
  • Note: The Excel shortcuts in this course are not optimized for Mac Versions of Excel, but this will not detract substantially from the course experience


  • Overview of the merger process from the buyer's and seller's perspective
  • Purchase accounting and modeling write-up of assets
  • Accretion / dilution analysis modeling
  • Relative P/E analysis and other useful techniques
  • Advanced analysis such as exchange ratio analysis, contribution analysis and premium paid analysis
  • Deal mechanisms such as collar agreements and defense against hostile takeovers


  • This course requires basic accounting knowledge. The Fundamentals of Financial Accounting & Analysis self-study fulfills this prerequisite
  • This course requires basic valuation knowledge
  • This course recommends, but does not require, basic Excel proficiency. We recommend taking the Excel Best Practices self-study to fulfill this requirement.


  • “Excellent course. It’s all based on real world application and not just theoretical. After going through the course, you will have the flexibility of building a bare bones model in 30 minutes or a much more elaborate model with additional add-ons that are company specific. Due to the strong foundation TTS develops, it’s easy to add additional complexity. I've used the concepts from the merger model to quickly evaluate M&A deal news released in morning to trade by the open. Also recommend the financial modeling course and the excel best practices”
  • “Kudos to TTS for a very efficient learning tool, from the incredible material for beginners and finance professionals alike, delivered in via a great interface. Each module is concise, enabling information download and the support material provided fosters a practical experience equivalent to being in an actual classroom.”