PTMBA2023 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
Art des Kurses
PT MBA LV
Wochenstunden
2,0
Semester
FS 2023
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].
Kursinhalt
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.
Termine
| Date | Time |
|---|---|
| Saturday, 21.01.2023 | 09:00 - 16:30 |
| Sunday, 22.01.2023 | 09:00 - 16:30 |
| Saturday, 28.01.2023 | 09:00 - 16:30 |
| Sunday, 19.02.2023 | 23:50 - 23:55 |
Literatur
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.
Lernmethoden
Vorlesung
Art der Prüfung
The final grade will be based on (1) class participation and one group project (50%), and (2) a take-home final exam (50%).
Umfang
60