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SNL Exnet Power and Utilities M&A Symposium - January 2013  -  January 29-30, 2013

1:00 pm

PRE-CONFERENCE WORKSHOP:Anatomy of a Deal- Monday, January 28

Getting to the Announcement - Working in a Confidential Environment
  • Identifying and screening targets
  • Organizing for diligence and analysis
  • Managing through extended negotiations
  • Measuring value potential
  • Assessing potential restrictions
  • Structuring the transaction
  • The public roll-out 
Panel Discussion - Lessons from the Front

 

Getting to Closing - Mobilizing Your Organization

  • Finalizing the regulatory strategy
  • Preparing the approval filings
  • Understanding the "gives and gets"
  • Mitigating potential constraints
  • Getting comfortable with conditions
  • Designing the integration process
After the Closing
  • Managing after the close
  • Aligning integration with operations
  • Establishing expectations and targets
  • Measuring progress against plans
  • Incenting to achieve planned outcomes
  • Finishing the integration process

Q&A Session

5:00 pm

Pre-conference workshop concludes

7:30 am

DAY ONE - Tuesday, January 29

Registration and continental breakfast open.

Please note: Additional speakers are in the process of confirming their participation for this event.

8:30 am

Opening Remarks

Michael J.B. Carter
Director
SNL Energy
Gregory W. Gartland
Managing Director, Product Management
SNL Financial
8:45 am

Keynote Address

Rudolph W. Giuliani
Partner
Bracewell & Giuliani LLP
9:30 am

Investment Banking Overview

Moderated by William S. Lamb, Partner, Baker Botts LLP
  • What are the principal factors impacting energy M&A today?
  • Is consolidation still a key driver or are asset level transactions going to be the new paradigm?
  • Will the currency mix (cash or stock) for financing deals shift in the near future?
  • Are we entering an era where prior acquirers are ready to “harvest” properties?
  • Which segments of the industry are likely to see the most M&A activity?
  • What are the effects of cash-rich balance sheets and the current financing environment on M&A activity?
  • What are the key political and regulatory barriers to M&A activity in this sector?
  • Are the investment “deadlines” of private equity likely to stimulate activity?
George W. Bilicic
Vice Chairman, Investment Banking, Global Head of Power, Energy & Infrastructure
Lazard Ltd
Jeffrey R. Holzschuh
Chairman, Institutional Securities Group
Morgan Stanley & Co., LLC
Jay D. Horine
Managing Director and Head of Investment Banking for North American Energy
JP Morgan Chase & Co.
John Lange
Global Head, Power and Utilities Group
Barclays Capital
Joseph Sauvage
Vice Chairman, Head of Global Power
Citigroup Global Markets Ltd
10:45 am

Networking Break

11:00 am

Views from the Top

Moderated by John G. Klauberg, Partner, Bracewell & Giuliani LLP

  • What are the biggest challenges facing electric and gas utilities today?
  • What policies would enhance the industry's willingness to pursue growth?
  • How risk tolerant are Boards regarding growth options and pay-back?
  • What is currently driving M&A activity in the industry
  • How have sustained low natural gas prices and the shale gas boom impacted current and future business strategies?
  • Where is U.S. energy policy headed?
Ralph Izzo
Chairman, President and CEO
Public Service Enterprise Group Inc
James E. Rogers
Chairman, President and CEO
Duke Energy
John W. Somerhalder, II
Chairman, President and CEO
AGL Resources Inc.
Bruce A. Williamson
President and CEO
Cleco Corporation
12:15 pm

Luncheon

Sponsored by:

PWC Logo 100px

12:45 pm

Luncheon Address

Gina McCarthy
Assistant Administrator, Office of Air and Radiation
Environmental Protection Agency
1:45 pm

Strategic Growth for Regulated Utilities

Moderated by Thomas J. Flaherty, III, Senior Partner, Booz & Co.
  • What are the principal strategic alternatives for achieving growth?
  • Are there enough good "ideas" that can generate meaningful growth outcomes?
  • How do the risks and opportunities of alternative growth strategies compare with M&A?
  • When does M&A present the best alternative for achieving earnings growth and addressing capital expenditure requirements?
  • How does the increased size of U.S. utilities affect the viability of future transactions?
  • What are the implications of the low interest rate environment on transactions?
  • How are regulatory concerns and social issues currently impacting consideration of M&A transactions?

Raffiq Nathoo
Senior Managing Director
Blackstone
Darren J. Olagues
President
CLECO Power LLC
Mark A. Radtke
Executive Vice President and Chief Strategy Officer
Integrys Energy Group
Bertrand A. Valdman
Senior Vice President, Strategic Planning
Edison International
3:00 pm

Networking Break

Sponsored by
DirectEnergy_web_200px
3:15 pm

Shale Gas: The "Game Changer"

Moderated by G. Alan Rafte, Partner, Bracewell & Giuliani LLP
  • What are the drivers underlying the strong M&A activity in this sector?
  • Will there be increases in foreign ownership through cross border acquisitions and joint ventures?
  • Will CFIUS and national security interests stifle activity?
  • What are the principal financing structures for shale gas transactions?
  • How do acquisition and development funding differ in this sector?
  • What are the largest uncertainties to continued shale gas development and production levels?
  • How will developments in fracking regulation likely impact M&A activity and valuations?
  • How does shale gas impact the market for coal asset divestitures?
Jeff A. Agosta
Executive Vice President and Chief Financial Officer
Devon Energy
Badar Khan
President and CEO
Direct Energy
William A. Marko
Managing Director
Jefferies & Co.
Jeffrey L. Mobley
SVP, Investor Relations & Research
Chesapeake Energy Corporation
4:30 pm

Pipeline and MLP Developments

Moderated by Laura Tyson, Partner, Baker Botts LLP
  • How are changes in traditional pipeline flows and new shale capacity driving investment in infrastructure?
  • How are private equity funds participating in this sector?
  • Can companies meaningfully grow given the concentration and scale that presently exists?
  • How have MLPs been impacted by the long-term low interest rate environment?
  • What new types of asset classes have been attracted to the MLP structure?
  • What will be the effect of future legislative focus?
William C. Bousquette, Jr.
Head of Midstream Energy Banking
Goldman Sachs & Co.
William T. Yardley
President, U.S. Operations
Spectra Energy
5:30 pm

Evening Cocktail Reception

 

 

7:30 am

DAY TWO - Wednesday, January 30

Continental breakfast opens.
8:30 am

Generation Capacity for Utilities, IPPs and Merchant Plants

Moderated by Todd Jirovec, Partner, Booz & Co.
  • Is the industry adequately focused on new baseload generation to replace future retirements?
  • How has the sustained low price of natural gas affected valuations and transaction activity?
  • How strong is the secondary market for coal plants?
  • How is the uncertainty around environmental regulation affecting transactions?
  • Will consolidation of nuclear operators continue?
  • How are developments in capacity markets affecting generation asset valuations?
  • What are some of the valuation implications of forward capacity markets in Texas and California?
  • What are the prospects for renewable generation?
Richard Bates
Chief Development Officer and Managing Director, M&A
Duke Energy Corporation
John Dingle
Partner
Thorndike Landing LLC
Jeremy Fago
Principal, US Power and Utilities Valuation Services Leader
PricewaterhouseCoopers LLP
John J. Reed
Chairman and CEO
Concentric Energy Advisors, Inc
Stephen Schaefer
Partner
Riverstone Holdings LLC
9:45 am

Networking Break

10:00 am

Opportunities in Electric Transmission

Moderated by John G. Klauberg, Partner, Bracewell & Giuliani LLP
  • What does the landscape look like for large cross tie merchant projects?
  • Are there sufficient projects to support the number of transmission-focused competitors?
  • With increasing focus on electrical efficiency on electric grids, are there opportunities for cooperation between utilities to achieve efficiency goals?
  • With the long lead times on large scale merchant projects, what are the predominant financing structures available?
  • What are the opportunities from changing inter and intra- regional generation patterns resulting from coal retirements and gas new builds?
  • What are the opportunities from changing inter and intra- regional generation patterns resulting from coal retirements and gas new builds? How will FERC Order 1000 impact the transaction landscape?
Lisa Barton
Executive Vice President, Transmission
American Electric Power Co.
John Flynn
Executive Vice President, Strategic Planning and Project Development
American Transmission Company
Paul J. Halas
Managing Director and General Counsel
GE Energy Financial Services
Andrew E. Schroeder
Senior Partner
Energy Investors Fund
11:15 am

Networking Break

11:30 am

Public Policy Forecast for Energy in the Current Political Climate

Moderated by William S. Lamb, Partner, Baker Botts LLP
  • How will this administration's policies affect the overall energy M&A climate?
  • Will the administration's policies on renewable generation sources noticeably change the current landscape?
  • What are the implications of current energy policies on national security and foreign policy?
  • How will the policies of this administration affect fuel diversity and reliability?
  • Will the administration be able to balance acceptable environmental regulation with long run economic growth? 
  • Who will be the energy winners and losers over the next four years? 
Patrick J. McCormick III
Republican Chief Counsel, Committee on Energy and Natural Resources
US Senate
Scott H. Segal
Partner and Head, Energy Policy Group
Bracewell & Giuliani LLP
Christine Tezak
Managing Director, Research
ClearView Energy Partners, LLC
12:15 pm

End of Conference

12:30 pm

Lunch Buffet

Jeff A. Agosta
Executive Vice President and Chief Financial Officer, Devon Energy
   
Lisa Barton
Executive Vice President, Transmission, American Electric Power Co.
   
Richard Bates
Chief Development Officer and Managing Director, M&A, Duke Energy Corporation
   
George W. Bilicic
Vice Chairman, Investment Banking, Global Head of Power, Energy & Infrastructure, Lazard Ltd
   
William C. Bousquette, Jr.
Head of Midstream Energy Banking, Goldman Sachs & Co.
   
Michael J.B. Carter
Director, SNL Energy
  
John Dingle
Partner, Thorndike Landing LLC
   
Jeremy Fago
Principal, US Power and Utilities Valuation Services Leader , PricewaterhouseCoopers LLP
   
Thomas J. Flaherty, III
Senior Partner, Booz & Co.
   
John Flynn
Executive Vice President, Strategic Planning and Project Development, American Transmission Company
   
Gregory W. Gartland
Managing Director, Product Management , SNL Financial
   
Rudolph W. Giuliani
Partner, Bracewell & Giuliani LLP
   
Paul J. Halas
Managing Director and General Counsel, GE Energy Financial Services
   
Jeffrey R. Holzschuh
Chairman, Institutional Securities Group, Morgan Stanley & Co., LLC
   
Jay D. Horine
Managing Director and Head of Investment Banking for North American Energy, JP Morgan Chase & Co.
   
Ralph Izzo
Chairman, President and CEO, Public Service Enterprise Group Inc
   
Todd Jirovec
Partner, Booz & Co.
   
Badar Khan
President and CEO, Direct Energy
  
John G. Klauberg
Partner, Bracewell & Giuliani LLP
  
William S. Lamb
Partner, Baker Botts LLP

Mr. Lamb advises both public and private companies in mergers, acquisitions and divestitures, as well as financings. He represents bidders and targets in both negotiated and unsolicited mergers and acquisitions; and acts as counsel to issuers and underwriters in major financings. He also has written extensively on energy and securities law, including a variety of articles and papers discussing corporate governance, accounting and disclosure issues.

Mr. Lamb is regularly named among leading lawyers by Chambers Global and Chambers USA. Before becoming a lawyer, he was a certified public accountant with a major accounting firm.

John Lange
Global Head, Power and Utilities Group, Barclays Capital
   
R. Scott Mahoney
Vice President, General Counsel and Secretary, Iberdrola Management Corp.
   
William A. Marko
Managing Director, Jefferies & Co.
   
Patrick J. McCormick III
Republican Chief Counsel, Committee on Energy and Natural Resources, US Senate
   
Jeffrey L. Mobley
SVP, Investor Relations & Research, Chesapeake Energy Corporation
   
Raffiq Nathoo
Senior Managing Director, Blackstone
  
Darren J. Olagues
President, CLECO Power LLC
   
Mark A. Radtke
Executive Vice President and Chief Strategy Officer, Integrys Energy Group
   
G. Alan Rafte
Partner, Bracewell & Giuliani LLP
   
John J. Reed
Chairman and CEO, Concentric Energy Advisors, Inc
   
James E. Rogers
Chairman, President and CEO, Duke Energy
   
Joseph Sauvage
Vice Chairman, Head of Global Power, Citigroup Global Markets Ltd
   
Stephen Schaefer
Partner, Riverstone Holdings LLC
   
Andrew E. Schroeder
Senior Partner, Energy Investors Fund
   
Scott H. Segal
Partner and Head, Energy Policy Group, Bracewell & Giuliani LLP
   
John W. Somerhalder, II
Chairman, President and CEO, AGL Resources Inc.
   
Christine Tezak
Managing Director, Research, ClearView Energy Partners, LLC
   
Laura Tyson
Partner, Baker Botts, LLP
Laura Tyson, Partner with international law firm Baker Botts, has been practicing for over 15 years as a general corporate and securities lawyer with a concentration on Master Limited Partnerships. She has significant experience in a wide range of transactions involving MLPs, including advising companies that are considering spinning out certain assets that produce qualifying income into an MLP and representing funds that focus on energy and MLPs in their formation and in the conduct of their investment activities. These activities include structuring newly formed MLPs, structuring co-investment opportunities and buying a controlling interest in the general partner of an existing MLP. She also represents MLP issuers and underwriters in IPOs, follow-on offerings and acquisitions. She has advised either the issuer, the investors, or the placement agents on the majority of the private placements to institutional investors that have been done in the MLP space since 2004 when the first funds focused on MLPs were launched.
Bertrand A. Valdman
Senior Vice President, Strategic Planning, Edison International
   
Bruce A. Williamson
President and CEO, Cleco Corporation
   
William T. Yardley
President, U.S. Operations, Spectra Energy
   
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Event Date:
January 29-30, 2013
Event Location:
The Ritz-Carlton Battery Park
2 West Street
New York, NY, US
Registration Fee:
$1,795  $1,595 Each additional registrant $1,495 State and Federal agencies $495 Pre-conference seminar on January 28
Your registration includes all conference materials, continental breakfast and lunch both days, and the evening cocktail reception at the end of Day One. Registration for just the pre-conference workshop covers that day's activities only.

Attendees at the SNL Exnet Utility M&A Symposium include:

  • Senior-level executives at utilities and merchant generators
  • Investment banking professionals
  • Industry regulators
  • Asset managers and analysts
  • Private equity and sovereign fund investors
  • Legal and management advisors to the industry
Event Date:
January 29-30, 2013
Venue:
The Ritz-Carlton Battery Park
2 West Street
New York, NY, US
Phone:
800-241-3333
Accommodations:
A block of rooms at the Ritz-Carlton has been reserved for for program attendees at a special rate of $325 per night, exclusive of taxes and fees. The discount rate is available through Thursday, January 17, 2013 or until the block is filled, whichever comes first.

To reserve your room, please call the Ritz-Carlton directly at 800-241-3333 and mention the SNL Exnet M&A Symposium.
CFA Institute
9.5 Hours of Professional Development Credit
SNL Knowledge Center is registered with CFA Institute as an Approved Provider of professional development programs. This program is eligible for 9.5 PD credits hours as granted by CFA Institute. If you are a CFA Institute member, PD credit for you attendance at this event will be automatically recorded in your PD Diary upon request.
National Association of State Boards of Accountancy
11.5 hours of CPE Credit
Participants attending the SNL EXNET Annual Power and Utilities M&A Symposium qualify for 11.5 CPE credit hours (Professional Growth). Program Level: Overview; Update. Delivery Method: Group-Live. Advance Preparation: None. Requisite Knowledge and Experience: None. SNL Knowledge Center is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be addressed to the National Registry of CPE Sponsors, 150 4th Ave N, Ste 700, Nashville, TN, 37219-2417. Web site: www.nasba.org.
What is the dress code?
Formal business attire.

What is the cancellation policy?
Cancellations for this program are eligible for a full refund, less a $150.00 administrative fee, if received at least 15 business days prior to the start of the program. Cancellations received after that date but at least 5 business days prior to the start of the program receive a credit in the amount of the registration fee, less a $150.00 administrative fee, to attend another SNL CFE program within 13 months. Due to expenses and commitments, cancellations received fewer than 5 business days prior to the start of the program are not eligible for a refund or credit.

Attendee substitutions from the same company may be made at any time.

In the event of a cancellation from a group discount, refunds or credits are issued beginning with the most heavily discounted price, minus a $150.00 administration fee.

"No shows" - or those who cancel within 15 days of the program - and have registered under the Invoice option, remain liable for the full program fee.

SNL Center for Financial Education reserves the right to cancel/change programs, content, speakers or venue at any time. SNL CFE reserves the right to make portions of the program registration information available to program sponsors. SNL CFE will not be held liable for any costs incurred by registrant due to individual registration cancellation. In the event that a seminar is cancelled due to inclement weather, faculty cancellation or force majeure, CFE will refund the registrant's tuition in full, however CFE will not be liable for incidental or consequential out of pocket expenses incurred by the registrant. If you have questions regarding SNL CFE's refund, complaint or program cancellation policy, please call us at (434) 951-7786.
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