Overview

Theory of the firm: "Build vs Buy"; Current issues in the M&A Environment (including Regulatory environment); Motives for M&A; How do mergers work? When do mergers work? Winners and losers; Valuation in the context of an acquisition (i.e. Cash flow valuation, financial modelling valuation) ; Criteria for value-adding acquisitions; Alternative business and restructuring strategies Business alliances and Cross-border M&A.

Assessment Strategy

-threshold -D- to D+ (40-49%): No major omissions or inaccuracies in the deployment of information/skills. Some grasp of theoretical/conceptual/practical elements. Integration of theory/practice/information present intermittently in pursuit of the assessed work's objectives. -good -B- to B+ (60-69%): Very good performance Most of the relevant information accurately deployed. Good grasp of theoretical/conceptual/practical elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Evidence of the use of creative and reflective skills. -excellent -A- to A+ (70%+): Outstanding Performance. The relevant information accurately deployed. Excellent grasp of theoretical/conceptual/practice elements. Good integration of theory/practice/information in pursuit of the assessed work's objectives. Strong evidence of the use of creative and reflective skills. -another level-C- to C+ (50-59%): Much of the relevant information and skills mostly accurately deployed. Adequate grasp of theoretical/conceptual/practical elements. Fair integration of theory/practice/information in the pursuit of the assessed work's objectives. Some evidence of the use of creative and reflective skills.

Learning Outcomes

• Apply financial modelling related to M&A.

• Appraise current empirical research in the field of M&A valuation.

• Evaluate critically the important economic activity of M&A.

• Evaluate the implications of alternative restructuring strategies.

• Evaluate the theoretical, regulatory and institutional framework of M&A.

• Undertake active research in the M&A field by applying a variety of methodologies and adjusting for a number of factors that affect synergies and performance.