Master
2022/2023
Investment Analysis, M&A and Due Diligence
Category 'Best Course for Career Development'
Category 'Best Course for Broadening Horizons and Diversity of Knowledge and Skills'
Category 'Best Course for New Knowledge and Skills'
Type:
Compulsory course (Strategic Management and Consulting)
Area of studies:
Management
Delivered by:
Department of Financial Management
Where:
Graduate School of Business
When:
2 year, 1, 2 module
Mode of studies:
offline
Open to:
students of one campus
Master’s programme:
Стратегический менеджмент и консалтинг
Language:
English
ECTS credits:
4
Contact hours:
32
Course Syllabus
Abstract
The investment analysis and M&A course provides a view on every stage of the M&A process and investment analysis: strategic & financial rationale, valuation, price & deal structuring and financing and risks mitigation as well as an overview of sell-side and buy-side processes and participating players’ motives. Class participants will gain learning experience through case studies, small group projects, deal simulation.
Learning Objectives
- Learn how to perform preliminary and complex analysis and get to decision regarding potential investment project, financial investment, or M&A deal.
Expected Learning Outcomes
- Strategic considerations: rationale, synergies, returns and other reasons to make a deal
- Valuation: operating model, DCF, CCA, CTA methods, LBO, and other methods
- Price and deal structuring and financing: earn-out, financing options, mezzanine financing and other structures with equity kicker
- Risks: due diligence, findings and price discussion, deal documentation
- Tech companies & M&A: CVC, considerations for buyouts
- Processes and their types: sell-side, buy-side, negotiated 1:1 sale, auctions
Bibliography
Recommended Core Bibliography
- Rosenbaum, J., & Pearl, J. (2013). Investment Banking : Valuation, Leveraged Buyouts, and Mergers and Acquisitions (Vol. 2nd ed). Hoboken: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=981384
Recommended Additional Bibliography
- Benninga, S. (2014). Financial Modeling (Vol. Fourth edition). Cambridge, Massachusetts: The MIT Press. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=1089520
- Mercer, Z. C., & Harms, T. W. (2008). Business Valuation : An Integrated Theory (Vol. 2nd ed). Hoboken, N.J.: Wiley. Retrieved from http://search.ebscohost.com/login.aspx?direct=true&site=eds-live&db=edsebk&AN=208023