Finance of Mergers and Acquisitions Designing an M&A Deal

This course focuses on the theory and practice of mergers and acquisitions (M&A), with a focus on the Finance. The Finance of M&A uses tools from different areas of Finance to help managers and investment bankers design successful M&A deals. In particular, we will learn to value and price M&A deals and how 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 spinoffs and asset transfers. The course will benefit any student who desires to increase their ability to understand and execute M&A deals, including (but not limited to), entrepreneurs, consultants, bankers, investors, analysts, corporate managers, marketers, strategists, and deal-makers of all types. The course will also deepen students’ understanding of financial modeling and capital structure, both in theory and practice.

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Syllabus

Syllabus - What you will learn from this course
Week 1
Course Orientation and Module 1: Designing an M&A Deal: Accounting, Taxation, and Means of Payment
You will learn the basic accounting and taxation principles of M&A deals, and how accounting and taxation choices interact and potential implications for M&A financing decisions. This module will also discuss the key trade-offs that acquirers and targets face when deciding between cash and stock deals, including taxes, valuation issues and uncertainty about synergies.
Week 2
Module 2: Financing M&A Deals
M&A deals can cause significant changes in corporate leverage. In this module you will learn how leverage affects company value both in theory and in practice. You will also learn how to choose the optimal financing fix in an M&A deal, using the trade-off model of capital structure and other state-of-the art tools including credit ratings and debt structure.
Week 3
Module 3: Private Equity and Leveraged Buyouts
Private equity deals have become an essential component of the M&A market and studying private equity deals is an excellent learning tool for an M&A practitioner. You will learn the Finance issues that are essential to private equity deals including highly levered valuation, complex financing structures, and the key sources of value creation. You will also learn the complete modeling of a leverage buyout (LBO), including valuation, financing, exit plans and calculation of IRR (internal rates of return).
Week 4
Corporate Restructuring: Divestiture and Spinoffs
Course Conclusion

FAQ

When will I have access to the lectures and assignments?

Access to lectures and assignments depends on your type of enrollment. If you take a course in audit mode, you will be able to see most course materials for free. To access graded assignments and to earn a Certificate, you will need to purchase the Certificate experience, during or after your audit. If you don't see the audit option:

What will I get if I purchase the Certificate?

When you purchase a Certificate you get access to all course materials, including graded assignments. Upon completing the course, your electronic Certificate will be added to your Accomplishments page - from there, you can print your Certificate or add it to your LinkedIn profile. If you only want to read and view the course content, you can audit the course for free.

Is financial aid available?

Yes. In select learning programs, you can apply for financial aid or a scholarship if you can’t afford the enrollment fee. If fin aid or scholarship is available for your learning program selection, you’ll find a link to apply on the description page.

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