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M&A-P10
PGDM 2010-12: Term-V
Mergers and Acquisitions (
Credit: 2
)
Prof. P. K. Mohanty
Objective:
Corporate mergers and acquisitions have become universal practices around the globe. In a globalised era, mergers take place not only within the nation but also across the border for survival, growth, expansion and achieving different objectives. The opening up of Indian economy is also supportive of these activities. The ever increasing number of M & A activities only suggests that this is going to stay. The objective of this course is to familiarize the participants with various aspects of mergers and acquisitions.
Course Outline:
Session 1&2
: Main Forms of Corporate Restructuring, Motives behind Mergers and Acquisitions, Strategies for entering a new market, Value creation strategy in M&A
Session 3
: Legal framework governing M&A- Companies Act, 1956, SEBI Takeover Code, Competition Act
Session 4-6
: Valuation of Target Companies: Purpose and objectives of valuation, Valuation as a cause of M&A failure, Net Asset Valuation Model, Dividend Valuation Model, Price Earnings Ratio Model, Free Cash Flow Valuation Model, Economic Gains and Costs of M&A, Share Exchange Ratios, Valuation of Synergy
Session 7
: Leveraged Buy-out
Session 8
: Due Diligence process in M&A,
Session 9
: Accounting issues- Accounting for Mergers and Acquisitions,
Accounting for Demerger, Comparison between Indian GAAP and IFRS-3
Session 10-11
: Taxation Issues in M&A- Capital Gains Tax, Carry
Forward and Set off of Accumulated Losses and Unabsorbed Depreciation,
Slump Sale etc.
Session 12
: Takeover Defenses- Friendly versus Hostile Takeovers,
Takeover tactics, Successful Takeover Tactics in India, Defense Tactics
Session 13
: Deal structuring and Financing Strategies, Funding of
Acquisitions- Methods of effecting payment consideration
Session14:
M&A Integration
Evaluation Pattern:
1. Quiz: 30 marks
2. Assignment 20 marks
& presentation
3. End-term exam.: 50 marks
---------------
Total 100 marks
=========
Books for Reference:
1. Mergers, Acquisitions and Corporate Restructuring by Prasad G. Godbole(Vikas)
2. Takeovers, Restructuring, and Corporate Governance by Weston, Mitchell and Mulherin( Pearson )
3. Mergers, Acquisitions and Corporate Restructuring by Chandrasekhar Krishnamurti & S.R.Viswanath ( Sage Publication )
4. Creating Value from Mergers and Acquisitions by Sudi Sudarsanam(Pearson)
5. Handouts
Created By:
Debasis Mohanty
on
08/17/2011
at
02:34 PM
Category
:
PGDM-II
Doctype
:
Document
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