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Mergers and Acquisitions

Analytical Thinking
Critical Thinking

Course Description

Application of corporate finance concepts to mergers and acquisitions and corporate governance. The topics will include Mergers and Acquisitions, Corporate Governance, and Restructurings. The tools, techniques, and theories of finance are applied to actual business decisions.

Additional Requirements for Graduate Students:
Graduate students will be expected to analyze and prepare a short report on a recent M&A transaction, including the motivations for the merger and the valuation techniques. Graduate students (MACC and MBA) will analyze and prepare a report analysis of a recent M & A transaction. The report will outline the motivations for the merger, the method used in the M & A transaction, and the valuation methods in the transaction. The report will be presented to the class.

Athena Title

Mergers and Acquisitions

Equivalent Courses

Not open to students with credit in FINA 4205E or FINA 6205E

Undergraduate Prerequisite

(FINA 3000 or FINA 3000E or FINA 3000H) and FINA 4200

Graduate Prerequisite

FINA 3000 or FINA 3000E or FINA 3000H or FINA 7100

Semester Course Offered

Offered every year.

Grading System

A - F (Traditional)

Student learning Outcomes

  • Students will be able to explain the strategic and economic motivations for mergers and acquisitions (M&As).
  • Students will be able to identify the structure and process of M&A transactions, including the roles of key participants and the stages of deal execution.
  • Students will be able to identify and explain key legal and regulatory considerations in M&A.
  • Students will be able to estimate appropriate value ranges for acquisition targets by applying core valuation methods.
  • Students will be able to synthesize legal, strategic, and valuation considerations to make a well-supported recommendation on whether a proposed merger or acquisition should proceed.

Topical Outline

  • Introduction
  • Sell-Side Perspective
  • Buy-Side Perspective
  • Legal Environment of M&A
  • Core Valuation Methods (Precedent Transactions, Comparable Companies, and DCF Analysis)
  • Leveraged Buyouts and Private Equity

Institutional Competencies Learning Outcomes

Analytical Thinking

The ability to reason, interpret, analyze, and solve problems from a wide array of authentic contexts.


Critical Thinking

The ability to pursue and comprehensively evaluate information before accepting or establishing a conclusion, decision, or action.


Syllabus

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