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Course Syllabus


FIN4212 Mergers and Acquisitions

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Code
FIN4212
Title
Mergers and Acquisitions
Credits
3
Description
The course focuses an mergers, acquisitions and other restructurings as a vital part of overall modern-day corporate business strategy. The course introduces a framework, that helps corporations to plan, design, analyze, and implement mergers and acquisitions (M&A) to create, and in some cases, preserve corporate value. The students will learn meaning and motives behind the M&A, their types, advantages and disadvantages of each type. The course also reviews key financial drivers of the market value, financial analysis and valuation methods applied to M&A. It explains stages of M&A process, studies potential problems encountered in post-merger integration and provides prerequisites for a successful merger.
Objectives
Understand strategy and uses of M&A. Identify the language and processes of M&A. Estimate value of target firm and synergy of M&A. Conduct other M&A valuation analysis. Understand the basic structure of M&A transactions.
Outcomes
Upon successful completion of this course, students should be able to: Understand the strategic framework of various M&A scenarios. Understand regulatory considerations of M&A Recognize steps in M&A process and determine specific goals for each phase. Comprehend the meaning of a proposed M&A transaction and understand value distribution between the seller and to the buyer. Perform financial forecast and analysis of the proposed M&A. Understand payment, legal and tax considerations of M&A transactions. Understand and distinguish between various structures of M&A transactions.
Assessment
60 % -first and second assessments
40 % -final assessment
Tentative course outline
Week1
Introduction to the course and Syllabus
Week2
An Introduction to Mergers, Acquisitions, and Other Restructuring Activities
Week3
The Regulatory Environment, The Corporate Takeover Market
Week4
The Regulatory Environment, The Corporate Takeover Market
Week5
Implementation: Search Through Closing
Week6
Review and Midterm 1, Home Assignments starts
Week7
Postclosing Integration
Week8
Postclosing Integration
Week9
Mergers and Acquisitions Cash Flow Valuation Basics
Week10
Relative, Asset-Oriented, and Real Option Valuation Basics
Week11
Financial Modeling Basics, Analysis and Valuation of Privately Held Firms
Week12
Review and Midterm 1, Home Assignments first part due
Week13
Structuring the Deal, Financing the Deal
Week14
Applying Financial Models
Week15
Alternative Exit and Restructuring Strategies