30488 - APPLIED VALUATION ANALYSIS FOR MERGERS AND OTHER BUSINESS COMBINATIONS
Course taught in English
Go to class group/s: 31
Students are recommended to have completed a first level introductory course in Financial Accounting.
The course contributes to students understanding of what filings are required to complete an M&A transaction.
- Anatomy of a typical merger – mini case study.
- Overview of Mergers Analysis – methods to identify prospective targets using financial statements.
- Brief outline of US and European financial reporting requirements FAS 141 and 141R and IFRS 3 so you understand what reports an acquirer has to file with regulators before a new business combination can be approved.
- Required filings to raising finance to publicly fund transactions.
- Obtaining a purchase price and creating a Pro Forma Valuation.
- Special topic on fair values, goodwill and intangibles valuation.
- Some applied examples.
- Constructing projections including accretion and dilution.
- Ex-post analysis of deals.
- Ability to summarize key financial components of an M&A deal.
- Identify required filings when raising finance for the M&A deal.
- Learning how to construct a purchase price allocation and creating a Pro Forma ValuationUnderstand how intangibles are valued.
- Learn how to construct projections of Earnings Per Share and evaluating whether they are accretive or dilutive.
- Construct ProForma financial statements for an M&A deal.
- Face-to-face lectures
- Online lectures
- Group assignments
3 Group assignments:
- Anatomy of an M&A deal with special reference to synergies.
- Required assumptions to produce Pro Forma financial statements.
- Expost evaluation of the disclosed Earnings Per Share.
|Continuous assessment||Partial exams||General exam|
2 group works each assigned a maximum of 6 marks
Final written exam 18 marks
Final written exam 30 marks
- P. PIGNATARO, Mergers, Acquisitions, Divestitures, and Other Restructurings, J. Wiley.