Value Based Management

Value MethodsMergers and Acquisitions

Tender Offers and Takeover Defences

Asset Sales and Divestitures

LBO´s, Private Equity

Review Session

This course examines factors that underline corporate restructuring transactions: mergersand acquisitions, assets sales and spin-offs, levered buyouts and financial restructuring.Building off the theoretical aspects of the optimal boundaries of the firm, we willdiscuss how institutional settings affect trade-offs of smaller/larger firms, diversification,financing decisions, etc. We will analyze empirical evidence on each type of restructuringtransaction, and in particular, we will focus on how value was created or destroyed forshareholders, bondholders and other stakeholders.

After successfully completing this course, students will be able to critically analyse the potential benefits and costs of a merger, spin-off, LBO and other transactions.  Students will practice presenting their solutions of business cases build off various corporate restructurings that involved major corporations.

There are total 14 meetings. The last one is exam, so students have to attend this one. The meeting #13 is a Q&A session, attendance is optional. Out of the core 12 meetings students have to attend at least 7 to pass the course.

Home Assignment 20%

Case Presentation and Written Report 30%

Class Participation 10%

Final Exam 40%.

Name: Maria Chaderina, PhD

email: maria.chaderina@wu.ac.at

Office Hours: Monday 15:00-16:00.