MFIN.5610 Mergers, Acquisitions, Private Equity, Leveraged Buyouts
Mergers and acquisitions refer to the buying or selling of divisions or entire companies in order to increase efficiency and thereby enhance shareholder value. This course analyzes the process by which potential takeover targets are identified, how these targets are valued and how a takeover is financed. The course is heavily based on the case study approach; several historical examples of mergers and acquisitions will be analyzed in great detail. The course begins with a thorough examination of techniques for valuing a corporation including discounted cash flow valuation and comparable valuation. Alternative techniques for financing a merger or acquisition are also explored.