- Docente: Tiziano Pacetti
- Crediti formativi: 3
- SSD: SECS-P/09
- Lingua di insegnamento: Italiano
- Modalità didattica: Convenzionale - Lezioni in presenza
- Campus: Forli
- Corso: Laurea Magistrale in Economia e management (cod. 9203)
Conoscenze e abilità da conseguire
This course is designed to introduce students to the financial and contractual aspects that characterize extraordinary finance operations and their application. At the end of the course students will be able to analyse the main corporate control transactions, such as mergers and acquisitions, spin-offs, carve-outs, leveraged buy out and turnaround operations, in the light of the value creation to shareholders principle.
Contenuti
Theoretical framework
M&A process and activities
The importance of due diligence
Approaches and methods of valuation
Deal structuring and financial strategies
The importance of post merger integration
The main causes of over-investment
Testi/Bibliografia
Mergers, Acquisitions, and Other Restructuring Activities: An Integrated Approach to Process, Tools, Cases, and Solutions, 9th edition, Donald M. DePamphilis, Elsevier/Academic Press, San Diego, Ca., 2014
Applied merger and acquisitions, Robert F. Bruner, Wiley Finance, 2004
Mergers & acquisitions integration handbook, Scott C. Whitaker, Wiley finance, 2012
Metodi didattici
The program of the course will be presented in-depth in class. Theoretical and practical classes will be provided.
Modalità di verifica e valutazione dell'apprendimento
Valuation is based on a team project or on a written exam.
The team project concerns an M&A deal. Each team will be asked to represent an acquiring company or investment group whose business strategy involves an acquisition or merger. The acquisition can involve a recent transaction, a current transaction, or a hypothetical transaction involving two publicly traded firms, private companies, or some combination.
The Team Project will be completed by each team submitting both the Word or PowerPoint documents and Excel spreadsheets to the Professor in both hard copy form and as an email attachment.
At the end of the course each group will have to present its case.
The written exam is composed of 11 Multiple Choices and 1 exercise or 1 open question. The exam lasts 60 minutes.
The correct answer to a Multiple Choice gives 2 points. There is no penalty for the wrong answer and there is only one correct answer. The exercise on valuation has a value up to 10 points.
Students are not allowed to use notes or books.
The final mark is expressed in thirties.
Strumenti a supporto della didattica
The teaching tools are the projector and the blackboard for exercises.
Orario di ricevimento
Consulta il sito web di Tiziano Pacetti