Syllabus

Title
0866 International Mergers & Acquisitions
Instructors
Dr. Christian Herbst, LL.M.(Harvard), Dr. Sascha Hödl, LL.M.
Contact details
  • Type
    PI
  • Weekly hours
    2
  • Language of instruction
    Englisch
Registration
09/19/18 to 09/26/18
Registration via LPIS
Notes to the course
Subject(s) Bachelor Programs
Dates
Day Date Time Room
Friday 10/12/18 03:00 PM - 07:30 PM Extern
Friday 10/19/18 03:00 PM - 07:30 PM Extern
Friday 11/09/18 03:00 PM - 07:30 PM Extern
Friday 11/16/18 03:00 PM - 07:30 PM Extern
Friday 11/30/18 03:00 PM - 07:30 PM Extern

Contents

Mergers & Acquisitions (M&A) are an essential part in the growth of companies. The transactions enable companies to enter new markets quickly and to exploit economies of scale without the need first to capture a high market share.

Learning outcomes

This course gives students an overview of the basic economic, public policy and legal issues in M&A. Students will learn the principal mechanics of such transactions, from the early stages of preliminary screening, due diligence, contract negotiation, regulatory clearances to closing of the deal. Types of transactions covered will include private M&A transactions, public takeovers and private equity transactions.

Attendance requirements

A maximum of one of the five classes may be missed in order to successfully complete the course and receive a grade.

Teaching/learning method(s)

The course format combines introductory lectures with an effort to encourage student presentations as well as classroom discussions and to simulate M&A negotiations. Groups which consist of up to five students will – for each session - prepare assignments for in-class presentation. Students are expected to prepare the recommenced reading section and subsequently to participate in discussions in class and to follow reporting on significant M&A transactions in the financial press to be prepared to contribute to transaction analysis by discussions in class.

Assessment

Class participation - 30 % of the grade. Participation in discussions throughout the semester. Further, you are expected to play an active role in the simulated real life negotiations in classroom.

Group Assignment and Presentation - 30 % of the grade. Allocation to groups will be e-mailed to participants in advance. Each group will have to prepare a presentation on a mock transaction and will have to present it to the class.

Final paper - 40 % of the grade. In the final paper (8- 10 pages) you will evaluate a sample transaction under commercial, legal and policy perspectives.

Final paper has to be submitted and has to get a positive mark in order to pass the course.

Prerequisites for participation and waiting lists

Completed IB Foundations (Class 1 – Basics) and Applications (Class 2)

Readings

1

Availability of lecturer(s)

All classes are held at Schönherr Rechtsanwälte, Schottenring 19, 1010 Vienna

Other

Readings:

All relevant readings are available online for students. Students must read the relevant readings before each class.

Students are thus also expected to have read part I of the reading package for the first class.

Unit details

Unit Date Contents
1 12.10.2018

Session 1:

Economic and Policy Issues of M&A Transactions

An Introduction to M & A Transaction Processes

2 19.10.2018

Session 2:

M & A Transactions in Light of Good Corporate Governance

Setting the Stage for an M & A Process

Due Diligence/Disclosure in M&A Transactions

3 09.11.2018

Session 3:

Legal Aspects of M & A Transactions

Letter of Intent, Share Purchase Agreements

Deal Terms

4 16.11.2018

Session 4:

Financial Aspects of M&A Transactions

Private Equity Transactions

5 30.11.2018

Session 5:

Public M&A: Hostile and Friendly Takeovers

Last edited: 2018-10-04



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