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| Semester | fall semester 2021 |
| Course frequency | Every fall sem. |
| Lecturers | Yakov Amihud (yakov.amihud@unibas.ch, Assessor) |
| Content | This course will present the theories and empirical evidence on corporate control transactions, the process of evaluating acquisition targets and its application in practice. Findings on the reaction of stock prices to information on control transactions will be used to analyze the effects of various policy options in such transactions. Strategies of acquisition will be studied as well as defensive measures against them, their purpose and their consequences. The class will combine lecture material, quantitative and qualitative analyses and discussions of relevant news. There will be an emphasis on fundamental concepts of valuation and other areas of corporate finance related to M&As. Note: This is a demanding course in terms of rigor, homework and readings (it is partly quantitative). You need to have knowledge in finance, especially corporate finance. Students are encouraged to bring up issues and events associated with material covered in class. Please coordinate with me in advance. |
| Bibliography | Class notes will be provided in class and posted on the course’s web site (ADAM) after the class. Textbook (recommended): Mergers, Acquisitions and Corporate Restructurings by Patrick Gaughan, John Wiley 2018, 7th edition. You can use the 2015, 6th edition, reading marked by {…}, or 2011 5th edition – readings marked by {{ … }}. Chapter numbers in [.] = skim, “esp.” = this is especially important. The book has a new edition, but you can buy this edition more cheaply on the Internet. Case study: Cooper Industries (see also course outline) |
| Weblink | Weblink |
| Admission requirements | Recommended Prerequisites: Solid understanding of business and economics on the BA level Corporate Finance (10138) Intermediate Finance (42778) Macroeconomics and Finance (40105) |
| Course application | Please register by sending an email to summerschool-wwz@unibas.ch no later than by 31 May 2021. All further information can be found on the website of the Summer School. The enrollment for the course is at the same time the final registration for the exam!. |
| Language of instruction | English |
| Use of digital media | No specific media used |
| Interval | Weekday | Time | Room |
|---|---|---|---|
| Block | See individual dates | ||
| Date | Time | Room |
|---|---|---|
| Monday 02.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Tuesday 03.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Wednesday 04.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Thursday 05.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Monday 09.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Tuesday 10.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Wednesday 11.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Thursday 12.08.2021 | 15.00-17.30 | - Online Präsenz -, -- |
| Modules |
Module: Business Field: Strategy and Organization (Master's Studies: Business and Technology) Module: Specific Electives in Business and Economics (Master's Studies: Business and Economics) Module: Specific Electives in Labor Economics, Human Resources and Organization (Master's Studies: Business and Economics) Specialization Module: Labor Economics, Human Resources and Organization (Master's Studies: Business and Economics (Start of studies before 01.08.2021)) Vertiefungsmodul Global Europe: Handel und Unternehmen in der Globalisierung (Master's Studies: European Global Studies) |
| Assessment format | record of achievement |
| Assessment details | Homework: 35% Final exam: 65 % Date of final (online) exam: 17 August, 2021, 14:00 - 15:00. Class participation may help in marginal cases. |
| Assessment registration/deregistration | Registration/deregistration: faculty |
| Repeat examination | no repeat examination |
| Scale | 1-6 0,1 |
| Repeated registration | as often as necessary |
| Responsible faculty | Faculty of Business and Economics , studiendekanat-wwz@unibas.ch |
| Offered by | Faculty of Business and Economics |