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XuetangX

Cross-Border Mergers and Acquisitions

Shanghai University of International Business and Economics via XuetangX

Overview

The dynamism of today’s global economy requires corporations to restructure their business to remain competitive. The basic knowledge about the field of M&A is the foundation for effective work in a wide range of fields including corporate development, investment banking, consulting, and advising senior management. This course help students identify M&A issues worth attention. The high stage of professional competency is to develop an instinct for the problems and opportunities in an M&A situation especially in the cross-border context.

The course is divided into two discrete sections: (1) developing an in-depth understanding of how and when to apply the appropriate tools and skills to successfully complete a transaction and (2) the application of what has been learned to solving “real” world business problems. All major elements of the acquisition process will be discussed in the context of a logical process. The course will involve the application of what the student may have learned in such courses as finance, accounting, business law, micro and macroeconomics, management, negotiation, new ventures, entrepreneurship, strategic planning, and business policy/organization.

After studying this course, the students will know about the above mentioned information and be able to analyze relevant cases in the real world.



Syllabus

  • Promotional Video
    • Chap 1 Introduction
      • 1.1 Definition
      • 1.2 Why Do M&As Happen?
      • 1.3 Business Alliances as Alternative to M&As
      • 1.4 Participant in the M&A Process
      • Quiz
    • Chap 2 Merger Waves-1
      • 2.1 Merger and Acquisition Waves
      • 2.2 First Wave
      • 2.3 Second Wave
      • 2.4 Third Wave
      • Quiz
    • Chap 3 Merger Waves-2
      • 3.1 The Fourth Wave
      • 3.2 The Fifth Wave
      • 3.3 The Sixth Wave
      • Quiz
    • Chap 4 Legal Framework-1
      • 4.1 Laws Governing M&A
      • 4.2 International Securities Laws Relating to Takeovers
      • 4.3 Business Judgment Rule
      • Quiz
    • Chap 5 Legal Framework-2
      • 5.1 State Antitakeover Laws
      • 5.2 Regulation of Insider Trading
      • 5.3 Antitrust Laws
      • 5.4 Measuring Concentration and How to Define Relative Market
      • Quiz
    • Chap 6 The Corporate Takeover Market
      • 6.1 Corporate Governance
      • 6.2 Factors Internal to The Firm
      • 6.3 Factors External to The Firm
      • 6.4 The Corporate Takeover Market
      • Quiz
    • Chap 7 Alternative Takeover Tactics
      • 7.1 Friendly Merger
      • 7.2 The Hostile Tender Offer
      • 7.3 Other Tactical Considerations
      • Quiz
    • Chap 8 Takeover Defenses
      • 8.1 Pre-Offer Defenses
      • 8.2 Post-Offer Defenses
      • 8.3 The Impact of Takeover Defenses on Shareholder Value
      • Quiz
    • Chap 9 The Merger and Acquisitions Process
      • 9.1 Planning - Developing Business and Acquisition Plans
      • 9.2 Implementation - Search Through Closing
      • 9.3 Postclosing Integration
      • Quiz
    • Chap 10 Post-Acquisition Integration
      • 10.1 The Role of Integration in Successful M&A
      • 10.2 Integration Planning and Developing Communication Plans
      • 10.3 Creating a New Organization and Functional Integration
      • 10.4 Integrating Corporate Cultures
      • Quiz
    • Chap 11 Cash Flow Valuation Basics
      • 11.1 Estimating Required Financial Returns
      • 11.2 Risk Assessment
      • 11.3 Calculating Free Cash Flows
      • 11.4 Applying Discounted Cash Flow Methods
      • 11.5 Valuing Nonoperating Assets
      • Quiz
    • Chap 12 Relative Valuation
      • 12.1 Relative Valuation
      • 12.2 Asset Oriented Methods
      • 12.3 Real Options Analysis
      • Quiz
    • Chap 13 Deal Structuring
      • 13.1 Form of Payment
      • 13.2 Managing Risk and Reaching Consensus on Purchase Price
      • 13.3 Form of Acquisition
      • Quiz
    • Chap 14 Tax and Accounting Considerations
      • 14.1 Taxable Transactions
      • 14.2 Tax Free Transactions
      • 14.3 Financial Reporting of Business Combinations
      • 14.4 Impact of Acquisition Accounting on Business Combinations
      • Quiz
    • Chap 15 Financing the Deal
      • 15.1 How are M&A Transactions Commonly Financed
      • 15.2 Leveraged Buyouts As Financing Strategies
      • 15.3 What Factors are Critical to Successful LBOs
      • 15.4 Common LBO Deal and Capital Structures
      • Quiz
    • Chap 16 Alternative Exit and Restructuring Strategies
      • 16.1 Why Do Firms Exit Businesses
      • 16.2 Divestitures
      • 16.3 Spin-Offs
      • 16.4 Equity Carve-Outs
      • 16.5 Split-Offs and Split-Ups
      • 16.6 Tracking, Targeted and Letter Stocks
      • 16.7 Determinants of Returns to Shareholders Resulting From Restructuring Strategies
      • Quiz
    • Chap 17 Mergers and Acquisitions on International Market
      • 17.1 Globally Integrated Versus Segmented Capital Markets
      • 17.2 Motives for International Expansion
      • 17.3 Common International Market Entry Strategies
      • 17.4 Empirical Studies of Financial Returns on Cross-Border Transactions
      • Quiz

    Taught by

    Yang Junmin

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