ABOUT THE COURSE: Mergers and Acquisitions are part of corporate growth strategy and one can see more and more M&A transactions taking place in the business environment. By completing this course, the students will be able to appreciate the importance of merger and acquisitions (M&A) in the present corporate world. Students will be exposed to the process of M&A, essentialities of valuation and various methods thereof in case of Mergers and Acquisitions. Students will also learn other non — M&A techniques of corporate restructuring. The course shall also cover different takeover tactics and defenses.INTENDED AUDIENCE: Students of PG Programmes in ManagementPREREQUISITES: Corporate Finance / Financial ManagementINDUSTRY SUPPORT: Investment Banking; Financial Services;Consulting;Banking;
Mergers, Acquisitions and Corporate Restructuring
Indian Institute of Technology, Kharagpur and NPTEL via Swayam
Overview
Syllabus
Week 1: Introduction to Mergers, Acquisitions (M&A), Business; Valuation
Merger types
Merger as a business strategy
Merger as a process of value creation
Theories of Mergers and Acquisitions (Merger Motives)
Assignment : Analyzing the strategy behind recent merger and acquisitionWeek 2:Takeover Tactics and Anti-takeover Defenses
Assignment : Studying different takeover tactics and defenses undertaken by companies in recent times.Week 3:The M&A Process
Acquisition Search and Due Diligence Week 4:The M&A Process
Acquisition Search and Due Diligence, contd.Week 5:Valuation in M&A: Cash Flow Based Approach
Assignment : Valuation of companyWeek 6:Valuation in M&A: Cash Flow Based Approach
Assignment : Valuation of companyWeek 7:Valuation in M&A: Relative Valuation Approach and other Valuation Approaches
Assignment : Valuation of companyWeek 8:M&A Deal Structuring, contd..
Assignment : Critically evaluating a recent deal structureWeek 9:M&A Deal Structuring, contd..
Assignment : Critically evaluating a recent deal structureWeek 10:Legal aspects of M&A — in briefWeek 11:Legal aspects of M&A — contd..Week 12:Alternative Exit and Restructuring Strategies
Assignment : Analyzing the strategy behind recent corporate restructuring
Merger types
Merger as a business strategy
Merger as a process of value creation
Theories of Mergers and Acquisitions (Merger Motives)
Assignment : Analyzing the strategy behind recent merger and acquisitionWeek 2:Takeover Tactics and Anti-takeover Defenses
Assignment : Studying different takeover tactics and defenses undertaken by companies in recent times.Week 3:The M&A Process
Acquisition Search and Due Diligence Week 4:The M&A Process
Acquisition Search and Due Diligence, contd.Week 5:Valuation in M&A: Cash Flow Based Approach
Assignment : Valuation of companyWeek 6:Valuation in M&A: Cash Flow Based Approach
Assignment : Valuation of companyWeek 7:Valuation in M&A: Relative Valuation Approach and other Valuation Approaches
Assignment : Valuation of companyWeek 8:M&A Deal Structuring, contd..
Assignment : Critically evaluating a recent deal structureWeek 9:M&A Deal Structuring, contd..
Assignment : Critically evaluating a recent deal structureWeek 10:Legal aspects of M&A — in briefWeek 11:Legal aspects of M&A — contd..Week 12:Alternative Exit and Restructuring Strategies
Assignment : Analyzing the strategy behind recent corporate restructuring
Taught by
Prof. Chandra Sekhar Mishra
