Delivered at:: Department of Finance

Course type:: Elective course

When:: 2 year, 1, 2 module

Instructor

Rogova, Elena

Full Syllabus Ask Question

Abstract

The course is aimed at the better understanding of companies’ motives to merge and acquire the other businesses; it also provides the students with the methodology of deals analysus and valuation, the principles of companies’ integration at the post-merger stage, and the preparation of recommendations for business leaders in mergers and acquisitions decisions

Learning Objectives

To clarify the importance of mergers and acquisitions in the terms of the company’s strategy;
To show the ways of capturing the value drivers through mergers and acquisitions;
To achieve skills in analysis of target companies and the deals’ valuation
To gain knowledge and understanding of principles of deals structuring
To demonstrate innovative financial decisions in mergers and acquisition and to motivate students to find and implement such decisions
To demonstrate how ethical principles are implemented in corporate acquisition programmes
To find the ways of value growth through integration of merging companies
To give some ideas about the defense strategies in the cases of the hostile takeovers attempts

Expected Learning Outcomes

To show the ways of capturing the value drivers through mergers and acquisitions
To achieve skills in evaluation of target companies and the deals’ value
To analyze mergers and acquisitions of various types,
To assess the effect of hostile takeovers and defense precautions on companies' value and shareholders' wealth
To be acquainted with managers, investors and owners' motivation for performing mergers and acquisitions
To be prepared for taking ethical and reasonable, data-driven decisions on mergers and acquisitions, timely and in a persuasive manner
To be prepared to take ethical decisions in strategic investments
To compose consolidated balance of the merged company
To demonstrate innovative financial decisions in mergers and acquisition; To structure the deal
To find the ways of value growth through integration of merging companies
To give some ideas about the defense strategies in the cases of the hostile takeovers attempts;
To make decisions on taking strategic investments
To structure the deals; to know the main sources for LBO deals funding
To understand sources of funding for mergers and acquisitions

Course Contents

Valuation of M&A deals
Mergers and acquisitions as a part of strategic development of a company: motives, benefits, risks
Organisation of mergers and acquisitions. Post-merger integration
Hostile takeovers and defense strategies
Structuring the deal
Leveraged buyouts

Assessment Elements

Individual assignment. Real life deal analysis with in-class presentation and discussion
Group home assignment - case analysis
Classwork. Individual and group assignments, problem solving, discussions and case studies (weekly)
Case solution
Group home assignment - comparing successful and unsuccessful deals
Individual assignment - the case on hostile takeovers and defense strategy

Interim Assessment

2021/2022 2nd module
0.15 * Classwork. Individual and group assignments, problem solving, discussions and case studies (weekly) + 0.15 * Group home assignment - case analysis + 0.1 * Group home assignment - comparing successful and unsuccessful deals + 0.15 * Individual assignment. Real life deal analysis with in-class presentation and discussion + 0.3 * Case solution + 0.15 * Individual assignment - the case on hostile takeovers and defense strategy

Bibliography

Recommended Core Bibliography

Advances in Mergers and Acquisitions Cooper, Cary L.; Finkelstein, Sydney Emerald Publishing Limited 2015 ISBN: ISBN number:9781785600913, ISBN number:9781785600906 SERIES: Advances in Mergers and Acquisitions Ser.

Recommended Additional Bibliography

Alam, M. D., & Gühl, U. F. Project-Management in Practice: A Guideline and Toolbox for Successful Projects.: Springer, 2016 - 170 - 978-3-662-52944-7: Текст электронный // https://link.springer.com/book/10.1007/978-3-662-52944-7

Authors

ROGOVA ELENA MOISEEVNA

Master’s Programme 'Finance'

Professional and Society Accreditation 2018

EPAS accredited

Contacts

Mergers and Acquisitions