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PTMBA2020 Mergers & Acquisitions

After a substantial drop in takeover activity during the recent financial crisis, the world mergers and acquisitions (M&As) market reached new heights in 2014-2016 with announced aggregate deal values ranging between $3,000 billion and $4,200 billion. Hence, M&As are making headlines again.
Kurs ID
MBA FIN633, MBA FIN633 SI
Art des Kurses
PT MBA LV
Wochenstunden
2,0
Semester
HS 2019
Vortragssprache
Englisch
Vortragende/r
Prof. Dr. Nihat Aktas
Bitte beachten Sie, dass AustauschstudentInnen im BSc-Programm der WHU eine höhere Anzahl an Credits erwerben als hier aufgeführt. Für weitere Informationen wenden Sie sich bitte direkt an das [International Relations Office].
The course is structured following a seminar format with participants expected to take a very active role in their learning. The course relies on interactive lessons, and consists of lectures, testimony from M&A practitioners, in-class case and article discussions, in-class tasks, written group homework case, and a final exam.
Date Time
Sunday, 08.12.2019 09:15 - 16:45
Saturday, 14.12.2019 09:15 - 16:45
Sunday, 15.12.2019 09:15 - 16:45
There is no mandatory pre-reading for this course. However, for those willing to deepen their understanding of the takeover process and business valuation, here are some useful articles: Aktas, N., and E. de Bodt, 2011. Merger negotiations: Takeover process, selling procedure, and deal initiation. The Art of Capital Restructuring, Chapter 15, 261–279.Fruhan, William E., Jr. “The company sale process.” Harvard Business Publishing, Product # 206108-PDF-ENG.Rappaport, Alfred, and Mark L. Sirower, 1999. Stock or cash? The trade-offs for buyers and sellers in mergers and acquisitions. Harvard Business Review, Nov-Dec, 147–158.Schill, M.J., 2013. “Business valuation: Standard approaches and applications.” Harvard Business Publishing, Product # UV6586-PDF-ENG.Schill, M.J., and E. Loutskina, 2013. “Business valuation in mergers and acquisitions.” Harvard Business Publishing UV6759-PDF-ENG.Subramanian, G., 2009. Negotiation? Auction? A deal maker’s guide. Harvard Business Review 87, 101–107.Here are some additional books:DePamphilis Donald M., 2014. Mergers, acquisitions, and other restructuring activities. Elsevier Academic Press, 7th Edition.Berk, Jonathan, and Peter DeMarzo, 2014. Corporate Finance, Pearson International.Damodaran, Aswath, 2012. Investment valuation: Tools and techniques for determining the value of any asset. Wiley Finance, 3rd edition.
Vorlesung
The final grade will be based on (1) class participation and one group project (50%), and (2) a take-home final exam (50%).
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