CORPFIN 3506 - Takeovers, Corporate Restructuring and Governance
North Terrace Campus - Semester 2 - 2022
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General Course Information
Course Details
Course Code CORPFIN 3506 Course Takeovers, Corporate Restructuring and Governance Coordinating Unit Finance and Banking Term Semester 2 Level Undergraduate Location/s North Terrace Campus Units 3 Contact Up to 3 hours per week Available for Study Abroad and Exchange Y Prerequisites CORPFIN 2502, CORPFIN 2502UACM Incompatible CORPFIN 3503 Assessment Exam/assignments/tests/tutorial work as prescribed at first lecture Course Staff
Course Coordinator: Professor Alfred Yawson
Teaching Staff
Alfred Yawson
Phone: 83130687
Email: alfred.yawson@adelaide.edu.au
Campus: North Terrace
Building: Nexus 10 Tower, Room: 12.42
G M Wali Ullah
Email: gm.waliullah@adelaide.edu.au
Campus: North Terrace
Building: Nexus 10 Tower, Room: 13.48Course Timetable
The full timetable of all activities for this course can be accessed from Course Planner.
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Learning Outcomes
Course Learning Outcomes
On successful completion of this course, students will be able to:
1. Evaluate the takeover process, including takeover tactics and defenses and when they should be employed.
2. Apply valuation models, including DCF and comparable company analysis, to value, structure, and negotiate a deal.
3. Design and evaluate alternative corporate restructuring strategies.University Graduate Attributes
This course will provide students with an opportunity to develop the Graduate Attribute(s) specified below:
University Graduate Attribute Course Learning Outcome(s) Attribute 1: Deep discipline knowledge and intellectual breadth
Graduates have comprehensive knowledge and understanding of their subject area, the ability to engage with different traditions of thought, and the ability to apply their knowledge in practice including in multi-disciplinary or multi-professional contexts.
1, 3 Attribute 2: Creative and critical thinking, and problem solving
Graduates are effective problems-solvers, able to apply critical, creative and evidence-based thinking to conceive innovative responses to future challenges.
2, 3 Attribute 3: Teamwork and communication skills
Graduates convey ideas and information effectively to a range of audiences for a variety of purposes and contribute in a positive and collaborative manner to achieving common goals.
3 Attribute 4: Professionalism and leadership readiness
Graduates engage in professional behaviour and have the potential to be entrepreneurial and take leadership roles in their chosen occupations or careers and communities.
2 Attribute 7: Digital capabilities
Graduates are well prepared for living, learning and working in a digital society.
2 Attribute 8: Self-awareness and emotional intelligence
Graduates are self-aware and reflective; they are flexible and resilient and have the capacity to accept and give constructive feedback; they act with integrity and take responsibility for their actions.
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Learning Resources
Required Resources
The required textbook is:
D. M. DePamphilis, 2018. Mergers, Acquisitions, and Other Restructuring Activities, 11th Edition, Elsevier (a free electronic copy is available from the library).Recommended Resources
Additional materials will be drawn from:
- J.F. Weston, M. Mitchell and H. Mulherin, 2004. Takeovers, Restructuring and Corporate Governance, 4th edition, Pearson/Prentice Hall, 2004
- Koller, M. Goedhart and D. Wessels, Valuation: Measuring and Managing the Value of Companies, 6th (or university) edition, McKinsey & Co, John Wiley & Sons, 2015
- Newspaper articles, case studies and journal articles will be provided on MyUni and via the University Library, Course Readings.
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Learning & Teaching Activities
Learning & Teaching Modes
No information currently available.
Workload
No information currently available.
Learning Activities Summary
TOPIC THEME 1 The mergers and acquisitions environment 2 The Mergers and Acquisitions Process I 3 The Mergers and Acquisitions Process II 4 Merger and Acquisition: Cash Flow Valuation 5 Merger and Acquisition: Relative and Asset-Oriented Valuation 6 Structuring the Deal: Method of Payment and Legal Considerations 7 Financing the Deal: Private Equity, Hedge Funds, and Leveraged Buyouts 8 Financial Modeling Basics 9 Applying Financial Modeling to Value, Structure, and Negotiate Stock and Asset Purchases 10 Business Alliances: Joint Ventures, Partnerships, Strategic Alliances, and Licensing 11 Alternative Exit and Restructuring Strategies: Divestitures, Spin-offs, Carve-outs, Split-Ups, Split-Offs, and Bankruptcy Reorganization -
Assessment
The University's policy on Assessment for Coursework Programs is based on the following four principles:
- Assessment must encourage and reinforce learning.
- Assessment must enable robust and fair judgements about student performance.
- Assessment practices must be fair and equitable to students and give them the opportunity to demonstrate what they have learned.
- Assessment must maintain academic standards.
Assessment Summary
ASSESSMENT DUE DATE and TIME TYPE WEIGHTING Related Course Learning Outcomes Class Test 1 Week 4 (Time: TBA) Individual 20% 1 Class Test 2 Week 8 (Time: TBA) Individual 20% 2 Final Exam Examination period Individual 60% 2, 3 Assessment Detail
Class Test 1 - (20%) will be a closed book exam covering topics 1, 2 and 3.
Class Test 2 - (20%) will be a closed book exam covering topics 4 and 5.
The final exam - (60%) will be a closed book exam covering Topics 6, 7, 8, 9, 10 and 11.
NOTES ON ASSESSMENT
1. In order to pass this course students must achieve an overall minimum grade of 50%.
2. Legible hand-writing and the quality of English expression are considered to be integral parts of the assessment process. Marks may be deducted if markers are unable to read / understand answers because of poor hand-writing.
3. Students in this course are NOT permitted to take a DICTIONARY (English or English-Foreign) into the examination.
4. The use of a non-programmable calculator incapable of storing text in the examination is permitted in this courseSubmission
No information currently available.
Course Grading
Grades for your performance in this course will be awarded in accordance with the following scheme:
M10 (Coursework Mark Scheme) Grade Mark Description FNS Fail No Submission F 1-49 Fail P 50-64 Pass C 65-74 Credit D 75-84 Distinction HD 85-100 High Distinction CN Continuing NFE No Formal Examination RP Result Pending Further details of the grades/results can be obtained from Examinations.
Grade Descriptors are available which provide a general guide to the standard of work that is expected at each grade level. More information at Assessment for Coursework Programs.
Final results for this course will be made available through Access Adelaide.
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Student Feedback
The University places a high priority on approaches to learning and teaching that enhance the student experience. Feedback is sought from students in a variety of ways including on-going engagement with staff, the use of online discussion boards and the use of Student Experience of Learning and Teaching (SELT) surveys as well as GOS surveys and Program reviews.
SELTs are an important source of information to inform individual teaching practice, decisions about teaching duties, and course and program curriculum design. They enable the University to assess how effectively its learning environments and teaching practices facilitate student engagement and learning outcomes. Under the current SELT Policy (http://www.adelaide.edu.au/policies/101/) course SELTs are mandated and must be conducted at the conclusion of each term/semester/trimester for every course offering. Feedback on issues raised through course SELT surveys is made available to enrolled students through various resources (e.g. MyUni). In addition aggregated course SELT data is available.
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