Mergers, Acquisitions and Corporate Restructuring
Subject Overview
The fourth Finance group elective, covering the motives and forms of mergers, acquisitions and corporate restructuring, demergers/LBOs/strategic alliances and deal valuation, payment methods and accounting aspects of M&A, and tax implications, integration and regulatory aspects. A 4-credit elective theory paper.
Unit-wise Syllabus
4 units — click WhatsApp below to get the full notes for each
Unit 1: Introduction to M&A and restructuring
Evolution, need and motives for mergers and acquisitions, forms of corporate restructuring, M&A as strategic choice, evaluation of strategic alternatives, value creation, takeover defence strategies, reasons for M&A failures
Unit 2: Demergers, LBOs and valuation
Demerger, reverse merger and buyback of shares, strategic alliance types and structure, LBO characteristics and financing, restructuring of sick companies, deal valuation factors and basics, valuation of intangibles
Unit 3: Payment methods and accounting
Methods of payment and financing options, impact on EPS, determinants of M&A financing decisions, accounting aspects, impact on shareholder wealth
Unit 4: Tax and regulatory aspects
Tax implications of M&A, the integration process, international M&A motivations and strategies, due diligence, regulatory aspects of M&A