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
1x 3hr seminar per week
Mid semester exam (20%), group project (30%), and final exam (50%)
Faculty/department permission required?
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Prerequisites and assumed knowledge
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