MAN 656: Mergers & Acquisitions
Contents
For decades, mergers and acquisitions (M&A) have continued to be the primary vehicle for reshaping firms’ business portfolios. Both the rationales and economic outcomes of mergers and acquisitions, however, have remained a source of controversy in both academic research and business practice. The purpose of this course is to unpack which of the “received wisdoms” on mergers and acquisitions really hold up to rigorous scrutiny and which ones do not. To serve this purpose, we will systematically review the key determinants of acquisitions, and discuss the economic outcomes of acquisitions coupled with the key contingencies influencing acquisition outcomes. Moreover, we will discuss and practice some of the key tools for analyzing and implementing acquisitions.
Learning outcomes
CG 1, CG 2
Necessary prerequisites
Not taken MAN 654
Recommended prerequisites
–
| Forms of teaching and learning | Contact hours | Independent study time |
|---|---|---|
| Lecture | 2 SWS | 9 SWS |
| Exercise class | 2 SWS | 4 SWS |
| ECTS credits | 6 |
| Graded | yes |
| Workload | 180h |
| Language | English |
| Form of assessment | Written exam (60 min, 70%) and assignment/ |
| Restricted admission | yes |
| Further information | – |
Examiner Performing lecturer |  | Prof. Dr. Matthias Brauer Prof. Dr. Matthias Brauer |
| Frequency of offering | Fall semester |
| Duration of module | 1 semester |
| Range of application | M.Sc. MMM, M.Sc. WiPäd, M.Sc. VWL, M.Sc. Wirt. Inf., LL.M., MAKUWI |
| Preliminary course work | – |
| Program-specific Competency Goals | CG 1 |
| Literature | The set of compulsory and optional readings in form of research articles is continuously updated and will be announced at the start of the course. |
| Course outline | The course is structured along the classic M&A process starting with target selection and ending with target integration. Additionally, we will discuss specific M&A transactions (i.e., cross-border M&A; LBOs). |