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Mergers & Acquisitions (CF35864)

General information

Type:

OP

Curs:

1

Period:

S semester

ECTS Credits:

3 ECTS

Teaching Staff:

Group Teacher Department Language
Ed: 1 Santiago Simón del Burgo Economía, Finanzas y Contabilidad ENG

Group Teacher Department Language
Ed: 2 Santiago Simón del Burgo Economía, Finanzas y Contabilidad ENG

Prerequisites

This course is restricted to MSc in Finance students.

Previous Knowledge

A basic level of Corporate Finance.

COURSE CONTRIBUTION TO PROGRAM

This course is designed to give participants an introduction to the complex world of strategic alliances seen as an integrated process rather than watertight compartments of finance, business policy and human resources. By the end of the course, participants should have grasped the complexity of such operations and be well aware of the risks they entail: more than 50% of operations generate no profit for shareholders. They should also have learnt how to increase the success factor of the operations they take part in.

CONTENT

1. Introduction to M&As: different types.

2. Strategic planning: the reasons for M&As

3. Choice of candidate

4. Negotiations

5. Appraisal

6. Due diligence

7. M&A funding

8. Acquisition of listed companies

9. Risk capital and MBOs

10. Cultural issues

11. Soft factors and their impact on the rate of failure

12. Post-acquisition and integration phases

Relation between Activities and Contents

1 2 3 4 5 6 7 8 9 10 11 12
Case study presentation and assignments                        
Final exam                        
Class participation.                        

Methodology

The course will consist of theoretical classes with a comprehensive reading list tailored to the needs of each class. It will also feature the preparation and class discussion of real-life case studies to provide an insight into the difficulties and issues involved in these sorts of operations. Students are responsible for preparing the case studies and doing the reading before the respective class.

ASSESSMENT

ASSESSMENT BREAKDOWN

Description %
Case study presentation and assignments 40
Final exam 50
Class participation. 10

Assessment criteria

Important clarifications:

1.To pass the course, a minimum grade of 50% is required on both the final exam and the weighted average of the three components listed above. Specifically, if both the final exam mark and the weighted average are above 50%, then the weighted average becomes the final grade for the course. Otherwise, the final grade for the course will be the lower mark of the two.

2.In case a retake exam is needed, the final course grade will be 100% determined by the retake exam mark.

Bibliography

BUONO, Anthony; BOWDITCH, James (1989): The Human Side of Mergers and Acquisitions. Jossey-Bass.

CARTWRIGHT, Sue; COOPER, Gary (1996): Managing Mergers Acquisitions & Strategic Alliances. Utterworth Einemann.

RAPPAPORT, Alfred (1998): Creating Shareholder Value. The Free Press.

ROCK, Milton; ROCK, Robert H.; SICORA, Martin (1994): The Mergers & Acquisitions Handbook. McGraw-Hill.

WESTON, J. Fred; CHUNG, Kwang; SIU, Juan (1998): Takeovers, Restructuring and Corporate Governance. Prentice Hall.

Timetable and sections

Group Teacher Department
Ed: 1 Santiago Simón del Burgo Economía, Finanzas y Contabilidad

Timetable Ed: 1

From 2019/4/25 to 2019/6/13:
Each Thursday from 8:45 to 11:45.

Friday 2019/6/14 from 15:30 to 18:30.

Group Teacher Department
Ed: 2 Santiago Simón del Burgo Economía, Finanzas y Contabilidad

Timetable Ed: 2

From 2019/4/25 to 2019/6/13:
Each Thursday from 12:00 to 15:00.

Friday 2019/6/14 from 15:30 to 18:30.