This course provides an overview of mergers and acquisitions with a focus on the role MA plays in the development and implementation of a firm’s strategy. Students will develop an analytical and theoretical framework to understand the MA process and will also use cases and real-world applications to develop skills necessary to prepare and evaluate the strategic rationale for a proposed transaction. This course uses a strategic corporate development perspective rather than an investment banking/transaction perspective. Topics include strategic rationale for MA transactions, value creation and destruction in MA, the MA process, interplay between strategy and valuation, and implementation/integration issues. The student will apply course learnings in a cumulative project typically by preparing a M&A Plan including the rationale for a proposed acquisition target.
Students should note that this is a strategy course, not a finance course.