Mergers and acquisitions

This unit examines the concept of mergers and acquisitions from two perspectives - the relevant areas of finance and the basic taxation, accounting and legal issues. The aim is to provide you with a practical understanding of this major corporate strategy. The finance issues will involve an examination of basic theory and empirical findings associated with mergers and acquisitions, the valuation of firms under a range of techniques, the structuring of bids from a financing perspective and defensive strategies. The taxation, accounting and legal issues include some of the taxation effects and the issues facing the Board and senior management of both target and bidder companies.