Mergers and Acquisitions (FINC6017)

UNIT OF STUDY

Mergers and acquisitions have become perhaps the most important activity of investment banks today. They provide a fundamental way for businesses to secure growth. To analyse mergers and acquisitions, most tools from modern financial economics are needed. The unit commences with a review of how existing businesses are valued, continues with an analysis of capital structure decisions, considers management incentives and examines issues in corporate control. We next examine the motives for mergers and acquisitions. Some acquisitions are motivated by value improvements created by correcting incentive problems, some acquisitions however are motivated by bad incentives that decrease value.

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Further unit of study information

Classes

1x 3hr seminar per week

Assessment

Mid semester exam (20%), group project (30%), and final exam (50%)

Faculty/department permission required?

No

Unit of study rules

Prerequisites and assumed knowledge

FINC5001

Prohibitions

ACCT6011

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