MERGERS AND ACQUISITIONS

Prerequisites & course information

Requisites: ( FINANCE 305 , 325 , and ECON/FINANCE 320 ) or FINANCE 700 and ( FINANCE 635 or 725 ) Course Designation: Core GenEd - Mathematics & Quantitative Reasoning Grad 50% - Counts toward 50% graduate coursework requirement Repeatable for Credit: No Last Taught: Fall 2026 Learning Outcomes: 1. Identify the motives for acquisition and how to value an acquisition target both independently and as part of the integrated firm. Audience: Both Grad & Undergrad 2. Utilize financial statements to calculate earnings, leverage, and cash flow projections resulting from an acquisition or leveraged buyout Audience: Both Grad & Undergrad 3. Demonstrate a basic understanding of the legal framework underlying the merger transaction, including negotiation, announcement, antitakeover defenses, the fiduciary duties of the board of directors and management, and antitrust regulation Audience: Both Grad & Undergrad 4. Explain the mechanics of takeover defense strategies, their use and misuse by incumbent management, and the concept of managerial entrenchment Audience: Both Grad & Undergrad 5. Parse the details of a merger from the disclosed agreement and to understand the incentives of the various parties involved, including target and acquirer management and the facilitating investment bank Audience: Both Grad & Undergrad 6. Develop a broad theoretical framework that connects the theories of capital structure, managerial entrenchment, corporate governance and diversification to the decision to merge and the financing of the transaction. Audience: Graduate Learning Outcomes: 1. Identify the motives for acquisition and how to value an acquisition target both independently and as part of the integrated firm. Audience: Both Grad & Undergrad 2. Utilize financial statements to calculate earnings, leverage, and cash flow projections resulting from an acquisition or leveraged buyout Audience: Both Grad & Undergrad 3. Demonstrate a basic understanding of the legal framework underlying the merger transaction, including negotiation, announcement, antitakeover defenses, the fiduciary duties of the board of directors and management, and antitrust regulation Audience: Both Grad & Undergrad 4. Explain the mechanics of takeover defense strategies, their use and misuse by incumbent management, and the concept of managerial entrenchment Audience: Both Grad & Undergrad 5. Parse the details of a merger from the disclosed agreement and to understand the incentives of the various parties involved, including target and acquirer management and the facilitating investment bank Audience: Both Grad & Undergrad 6. Develop a broad theoretical framework that connects the theories of capital structure, managerial entrenchment, corporate governance and diversification to the decision to merge and the financing of the transaction. Audience: Graduate