Mergers and Acquisitions

Mergers and acquisitions (M&As) are frequently in the news and a prominent part of daily business in the life of many executives. Yet, most mergers and acquisitions fail from an important economics perspective – the creation of shareholder value – suggesting an apparent merger paradox. On the one hand, the explosive growth in the number, size, and complexity of mergers and acquisitions in recent decades demonstrates how ingrained this kind of business combinations have become in the global business community. The number of acquisitions made by firms worldwide has skyrocketed over the last 20 years: in 2017 alone, companies have spent US$ 3.7 trillion  in acquisitions. Yet, managers often report dissatisfaction with the outcomes of merger deals which is why a significant number are divested or lead to the dissolution of the companies involved. As such, this course focuses on why mergers take place – even while at other times they seem to be totally irrational –, how they can be managed, and what role regulation can play in this form of market restructuring. Next to being an important factor in the economy, M&As also represent a major area in strategic management, finance and organization. Because of this, the course brings together many different disciplines within economics and business that are essential to fully understand, analyze, and manage takeovers.

Lectures: The course will consist of a series of interactive lectures. Lectures will cover theoretical concepts, practical insights, and real-world case studies to illustrate key principles and best practices in M&A.
Case Studies: Students will analyze and discuss a variety of M&A case studies drawn from different industries, geographies, and deal structures. Case studies will provide students with the opportunity to apply theoretical concepts to real-world scenarios, evaluate strategic decisions, and assess the financial implications of M&A transactions.
Group Projects: Students will work in teams to develop comprehensive M&A deal proposals, including target identification, valuation analysis, deal structuring, and integration planning. Group projects will allow students to apply their knowledge and skills to develop actionable M&A strategies.

In case online access is required for this course and you are not in the position to buy the access code, you are advised to contact the course coordinator for an alternative solution. Please note that access codes are not re-usable meaning that codes from second hand books do not work, as well as access codes from books with a different ISBN . Separate or spare codes are usually not available.