Objectives and competences
This course trains students to manage the most challenging business processes of acquisitions and mergers of companies. It includes interdisciplinary teaching and case study analysis for understanding key concepts. Students acquire skills for analysis, risk assessment, and implementation of acquisition and merger processes. In addition, they develop critical thinking, problem-solving abilities, and enhance their communication and negotiation skills.
Content (Syllabus outline)
1. Developing strategies: Development of the M&A market, synergy effects.
2. Organizing to merge and acquire: Preparing internal acquisition team, non disclosure agreements, due diligence with consideration of ethical aspects and social responsibility. 3. Pricing, valuation, negotiating, and deal structuring: DCF valuation, the fine art of valuation, merger negotiations, payment modes, tax planning, golden rules of M&A, financing.
4. Special forms of M&A: Leveraged and management buy-outs, corporate restructuring, acquiring troubled companies.
5. Activities after the merger.
6. Regulations: legal acts.
Learning and teaching methods
- Interactive lectures with and group discussions.
- Practical tutorial based on case studies.
- Independent research and critical study of materials.
- Practice of communication skills through presentations.
Intended learning outcomes - knowledge and understanding
Student will be capable:
1. To differentiate key concepts and principles of acquisitions and mergers (PILO 1a).
2. To assess the legal and regulatory frameworks governing acquisitions and mergers (PILO 2a, PILO 2c).
3. To evaluate key factors influencing the success of acquisitions and mergers (PILO 2a).
4. To assess the financial and strategic aspects of acquisitions and mergers (PILO 2b, PILO 3a).
5. To create and assess acquisition and merger strategies (PILO 3a).
6. To differentiate ethical dilemmas that may arise in acquisitions and mergers (PILO 4a, PILO 4b).
7. To categorize, substantiate, and present concrete examples of current acquisitions and mergers (PILO 3b).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Intended learning outcomes - transferable/key skills and other attributes
Student will be capable:
1. To differentiate key concepts and principles of acquisitions and mergers (PILO 1a).
2. To assess the legal and regulatory frameworks governing acquisitions and mergers (PILO 2a, PILO 2c).
3. To evaluate key factors influencing the success of acquisitions and mergers (PILO 2a).
4. To assess the financial and strategic aspects of acquisitions and mergers (PILO 2b, PILO 3a).
5. To create and assess acquisition and merger strategies (PILO 3a).
6. To differentiate ethical dilemmas that may arise in acquisitions and mergers (PILO 4a, PILO 4b).
7. To categorize, substantiate, and present concrete examples of current acquisitions and mergers (PILO 3b).
The PILO label (i.e., Programme Intended Learning Outcomes) defines the contribution of each listed intended learning outcome of a course towards achieving the general and/or subject-specific competencies or learning outcomes acquired through the programme.
Readings
• JOVANOVIČ, Dušan, BRATINA, Borut, GRAH-LAZAR, Petra. Gospodarsko statusno in prevzemno pravo. 1. izd. Maribor: Založba WD: Poslovna založba, 2020. 645 str. ISBN 978-961-94599-1-1. [COBISS.SI-ID ]
• JOVANOVIČ, Dušan, BRATINA, Borut, ČREŠNIK, David. Podjetniško (korporacijsko) in davčno pravo. Stvarno kazalo Nikola Jovanović. 1. izd. Maribor: Založba WD: Poslovna založba, 2023. 645 str. ISBN 978-961-94599-7-3. [COBISS.SI-ID 130205187]
• Uradni list Republike Slovenije:
• Zakon o prevzemih (ZPre-1)
• Zakon o gospodarskih družbah (ZGD-1)
• ZPOmK-1 (zakon o preprečevanju omejevanja konkurence),
• ZVK (zakon o varstvu konkurence),
• ZBan-3 (zakon o bančništvu),
• ZZav-1 (zakon o zavarovalništvu),
• Drugi predpisi objavljeni v UL RS
Additional information on implementation and assessment Written exam - Individual written exam
Seminar paper - writing and presenting of seminar paper
In class participation - short tasks based on case studies
