|
課程名稱 |
企業合併與收購
MERGER AND ACQUISITION |
|
開課學期 |
98-2 |
|
授課對象 |
管理學院 財務金融學系 |
|
授課教師 |
邱顯比 |
|
課號 |
Fin5012 |
|
課程識別碼 |
723 U3100 |
|
班次 |
|
|
學分 |
3 |
|
全/半年 |
半年 |
|
必/選修 |
選修 |
|
上課時間 |
星期二A,B,C(18:25~21:05) |
|
上課地點 |
管一103 |
|
備註 |
本課程中文授課,使用英文教科書。先修科目：財務管理。
限學士班四年級以上
總人數上限：50人
外系人數限制：17人 |
|
Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/982ma |
|
課程簡介影片 |
|
|
核心能力關聯 |
核心能力與課程規劃關聯圖 |
|
課程大綱
|
|
為確保您我的權利,請尊重智慧財產權及不得非法影印
|
|
課程概述 |
Mergers and Acquisitions
(723 U3100 )
National Taiwan University
Spring 2010
Professor: Shean-Bii Chiu
Time: Tuesday 6:30pm – 9:15pm
Office: Room 1007, Building Two, College of Management
Classroom: Room 103, Building One, College of Management
Office Hours: by appointment (send email)
Email: chiushnb@management.ntu.edu.tw
Course Website: https://ceiba.ntu.edu.tw/982ma
Phone: 02-33661079
Grade Composition Participation: 20%
Homework: 30%
Project- Presentation: 25%
Project- Written Report: 25%
Textbook Robert F. Bruner (BRU), Applied Mergers & Acquisitions,
John Wiley & Sons, Inc., 2004 (ISBN: 0471395056)
|
|
課程目標 |
Class preparation and participation are major components of this course. Students are expected to read the assigned material and come prepared to discuss them. Students will be randomly chosen to lead discussion in the assigned topics and should expect to be cold-called. |
|
課程要求 |
Homework as well as the term project will be performed on the group base. Each group consists of 5 students, which are assigned by the instructor to maximize the diversity of group members. |
|
預期每週課後學習時數 |
|
|
Office Hours |
另約時間 |
|
指定閱讀 |
Textbook Robert F. Bruner (BRU), Applied Mergers & Acquisitions,
John Wiley & Sons, Inc., 2004 (ISBN: 0471395056)
|
|
參考書目 |
1 Weston, Mitchell, Mulherin, (WMM) Takeovers, Restructuring, and Corporate Governance, Fourth Edition, Prentice Hall 2004
（雙葉書局代理 02-2368-4198）
2 Gaughan, Mergers, Acquisitions, and Corporate Restructurings,
4th ed. (GAU), John Wiley & Sons, Inc., 2007 (ISBN: 9780471705642)
3 Koller, Goedhart, and Wessels (KGW), Valuation：Measuring and Managing the Value of Companies, 4th edition, McKinsey & Company, Inc., 2005 (ISBN:0471702188) 華泰書局 (02) 2377-3877
4 BenDaniel, Rosenbloom, and Hanks, International M&A, Joint Ventures & Beyond, John Wiley & Sons, Inc., 2002 (ISBN: 0471022500)
5 Robert F. Bruner, Deals from Hell: M&A Lessons That Rise Above the Ashes, John Wiley & Sons, Inc., 2005 (ISBN: 0471395951)
6 Arzac, Valuation: For Mergers, Buyouts, and Restructuring, Wiley, 2005, (ISBN: 047144944X)
7 Lajoux, The Art of M&A Integration：A Guide to Merging Resources, Processes, and Responsibilities, 2nd edition McGraw-Hill, 2005
(ISBN: 0071448101) 新陸書局 (02) 2396-3862
8 Morosini & Steger, Managing Complex Mergers, Prentice Hall, 2004, (ISBN:027366143)
|
|
評量方式
(僅供參考) |
|
No. |
項目 |
百分比 |
說明 |
|
1. |
Participation |
20% |
|
2. |
Homework |
30% |
|
3. |
Project- Presentation |
25% |
|
4. |
Project- Written Report |
25% |
|
|
|
週次 |
日期 |
單元主題 |
|
第1週 |
2/23 |
Introduction
BRU Ch.1
WMM Ch. 1
|
|
第2週 |
3/02 |
Rationales for Mergers & Acquisitions
BRU Ch. 17
WMM Ch. 5, 6
|
|
第3週 |
3/09 |
Identifying Candidates, Due Diligence, and Negotiation BRU Ch. 7, 8WMM Ch. 5, 6 |
|
第4週 |
3/16 |
Valuation (I )KGW Part 2GAU Ch. 14 |
|
第5週 |
3/23 |
Valuation（II）
BRU Ch. 11, 14
|
|
第6週 |
3/30 |
Valuation（II）BRU Ch. 11, 14
*Case proposal due |
|
第8週 |
4/13 |
Deal Structuring
BRU Ch. 20, 21, 22
WMM Ch. 5, 6
|
|
第9週 |
4/20 |
Corporate Restructuring & Leveraged transactions
WMM Ch. 11, 12
GAU Ch.7.8. |
|
第10週 |
4/27 |
Takeover Defense
Case 1: 福斯反購併保時捷，在金融風暴中壯大
Case 2: 台新金出售台證證券予凱基證券 : 棄車保帥與證券商版圖重整
*Homework due
WMM Ch.19
|
|
第11週 |
5/04 |
Risk Management in M&A
Case 3: 新GM : 美國驕傲浴火重生 ?
Case 4: AIG出售南山人壽 : 多方角力
BRU Ch.23 |
|
第12週 |
5/11 |
Corporate Governance and Performance
Guest Speech:
Case 5: 台積電策略投資茂迪 : 尋找下一個成長動能
Case 6: 新奇美誕生 : 台灣面板業大整併
WMM Ch.20 |
|
第13週 |
5/18 |
M&A Integration (I)
Case 7: 華碩分析 : 2-1 = ?
Case 8: Logitach 收購LifeSize Communications 聚焦的購併成長策略
BRU Ch. 35, 36, 37
|
|
第14週 |
5/25 |
M&A Integration (II)
Case 10:美國雅虎收購中國阿里巴巴:外國想吞併大陸的網路，還是阿里巴巴反間計?
case 12:The acquisition of ABN
BRU Ch. 35, 36, 37
|
|
第15週 |
6/01 |
Preparing Final Report |
|
第16週 |
6/08 |
Presentation & Discussion
case 9:eBay 出售Skype:分手的原因
case 13:香港電訊私有化:蛇吞象後傳
Case 15: 元太科技併購E-Ink
|
|
第17週 |
6/15 |
Presentation & Discussion
case 11:英業達,冠捷合資成立英冠達
Case 14:中國主權基金與國企的海外併購:攻擊or防禦?
case 16: 燦坤分割燦星網通:從3C通路跨域經營看專業分工 |
|