This course teaches how to value and price M&A deals and to choose the optimal financing mix for an M&A deal. The course focuses on all the major types of M&A deals including strategic M&A, private equity leveraged buyouts (LBOs), and restructuring deals such as spinoffs and asset transfers.

Finance of Mergers and Acquisitions: Valuation and Pricing
伊利诺伊大学香槟分校课程信息
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Course Orientation and Module 1: Overview of M&A Topics and Evidence
You will learn the basic terminology of M&A, which we will use throughout the course. You will also learn why M&A deals happen, and how to identify drivers of M&A that are truly value-enhancing. Finally, you will study the history of M&A and learn key facts about previous M&A waves.
Module 2: Company Valuation
What determines a company’s stock price? Placing a value on companies is a key tool for M&A analysis. This module focuses on the main methods available to estimate stock prices, including discounted cash flow valuation and multiples-based valuation. You will learn these tools using the most up-to-date Finance theory, and real-world examples.
Module 3: The Role of Target and Acquirer Valuation in M&A
Valuation analysis is a major part of the work that investment banks do when advising companies involved in M&A deals. You will learn that both target and acquirer valuation matter, and why. This module also focuses on what is special about the valuation and pricing of non-publicly traded targets. Finally, you will learn how to best use transaction multiples in the valuation of M&A deals.
Module 4: Synergies and Hostile Takeovers
This module starts with how to place a value on synergies using cash flow forecasts provided by management, and also using the stock market reaction to a new M&A deal. Next, you will also learn how to relate synergies to the premium paid for targets and how to calculate the NPV (net present value) of a deal. You will also learn the specifics of hostile takeover deals with a focus on governance, legal, and valuation issues.
Course Conclusion
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来自FINANCE OF MERGERS AND ACQUISITIONS: VALUATION AND PRICING的热门评论
A very systematic course with great examples and practice !
Professor Almeida makes topics easy to understand and it is a pleasure to learn from him. Material, class, quizes, case studies and examples support well the learning.
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