Corporate Mergers & Acquisitions

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.

Tuesday, 2 August 2022: 9:45 - 12:15
Wednesday, 3 August 2022: 9:45 - 12:15
Thursday, 4 August 2022: 9:45 - 12:15
Friday, 5 August 2022: 9:45 - 12:15

Monday, 8 August 2022: 9:45 - 12:15
Tuesday, 9 August 2022: 9:45 - 12:15
Wednesday, 10 August 2022: 9:45 - 12:15
Thursday, 11 August 2022: 9:45 - 12:15

Solid understanding of business and economics on the BA level which includes Corporate Finance (10138). In addition, we recommend “Asset Pricing I: Standard Models (10600).

Final grades will be determined by homework and a final exam. You are expected to attend every class.
Date of final exam: 16 August 2022, 10:15

    This course will be counted in the following degree programs in the respective modules:

    Master's Studies: Business and Economics (Start of studies before 01.08.2021)
    Module: Electives

    Master's Studies: Business and Economics (Studium Generalis)
    Module: Specific Electives in Business and Economics

    Master's Studies: Business and Economics (Specialization: Data Science and Compuational Economics)
    Module: General Electives in Data Science and Computational Economics

    Master's Studies: Business and Economics (Specialization: Finance, Controlling and Banking)
    Module: General Electives in Finance, Controlling and Banking

    Master's Studies: Business and Economics (Specialization: International Business, Trade, and the Environment) - starting in fall 2022
    Module: General Electives in International Business, Trade, and the Environment

    Master's Studies: Business and Economics (Specialization: International Trade, Growth and the Environment)
    Module: General Electives in International Trade, Growth and the Environment

    Master's Studies: Business and Economics (Specialization: Labor Economics, Human Resources and Organization)
    Module: Specific Electives in Labor Economics, Human Resources and Organization

    Master's Studies: Business and Economics (Specialization: Marketing and Strategic Management)
    Module: General Electives in Marketing and Strategic Management

    Master's Studies: Business and Economics (Specialization: Monetary Economics and Financial Markets)
    Module: General Electives in Monetary Economics and Financial Markets

    Master's Studies: Business and Technology
    Module: Business Field: Strategy and Organization

    Master's Studies: Economics - starting in fall 2022
    Module: General Electives in Economics

    Master's Studies: Economics and Public Policy
    Module: General Electives in Economics and Public Policy

    Master's Studies: European Global Studies
    Vertiefungsmodul Global Europe: Handel und Unternehmen in der Globalisierung

    Prof. Amihud

    Prof. Yakov Amihud
    Professor of Entrepreneurial Finance
    Stern School of Business,
    New York University, New York
    USA