This course presents 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 are used to analyze the effects of various policy options in such transactions. Strategies of acquisition are studied as well as defensive measures against them, their purpose and their consequences. The class combines lecture material, quantitative and qualitative analyses and discussions of relevant news. There is an emphasis on fundamental concepts of valuation and other areas of corporate finance related to Mergers & Acquisitions.

Dates

Duration: 2 until 12 August 2021

Monday, 2 August 2021, 15:00 - 17:30
Tuesday, 3 August 2021, 15:00 - 17:30
Wednesday, 4 August 2021, 15:00 - 17:30
Thursday,  5 August 2021, 15:00 - 17:30

Monday, 9 August 2021, 15:00 - 17:30
Tuesday, 10 August 2021, 15:00 - 17:30
Wednesday, 11 August 2021, 15:00 - 17:30
Thursday, 12 August 2021, 15:00 - 17:30

UPDATE: The course will be taught online.

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.

Recommended Prerequisites

Solid understanding of business and economics on the BA level

Corporate Finance (10138)
Intermediate Finance (42778)
Macroeconomics and Finance (40105)

Course Information

• Course directory (2021)
• Syllabus
• Reading Material: see syllabus (ADAM workspace)

Class participation may help in marginal cases. 

For further information please contact the Summer School office.