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Regular version of the site

Mergers and Acquisitions

2021/2022
Academic Year
ENG
Instruction in English
4
ECTS credits
Course type:
Elective course
When:
2 year, 1, 2 module

Instructor

Course Syllabus

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

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

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

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

Assessment Elements

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

Interim Assessment

  • 2021/2022 1st module
  • 2021/2022 2nd module
    0.3 * Case solution + 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 - the case on hostile takeovers and defense strategy + 0.15 * Individual assignment. Real life deal analysis with in-class presentation and discussion
Bibliography

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