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
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Case study presentation and assignments |
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Final exam |
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Class participation. |
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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.