|
課程名稱 |
企業合併與收購
MERGER AND ACQUISITION |
|
開課學期 |
96-2 |
|
授課對象 |
管理學院 財務金融學研究所 |
|
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 |
管一102 |
|
備註 |
先修科目：財務管理。本課程中文授課,使用英文教科書。本課程中文授?
限學士班四年級以上
總人數上限：60人 |
|
Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/962ma_1 |
|
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 |
This course will cover
critical issues in mergers and
acquisitions, including
valuation, deal structuring,
takeover defense, risk
management, etc. Students are
expected to be familiar with
the practice in M&A through
case studies and class
discussion. |
|
課程目標 |
The course aims to introduce
M&A theories and practices to
students with background in
finance. Those intending to
enter investment banking or
expand the knowledge in
takeovers or corporate
restructuring will be
interested in it. |
|
課程要求 |
|
|
預期每週課後學習時數 |
|
|
Office Hours |
另約時間 |
|
指定閱讀 |
|
|
參考書目 |
1 Robert F. Bruner (BRU), Applied Mergers & Acquisitions,
John Wiley & Sons, Inc., 2004 (ISBN: 0471395056)
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
BenDaniel, Rosenbloom, and Hanks, International M&A, Joint
Ventures & Beyond, John Wiley & Sons, Inc., 2002 (ISBN:
0471022500)
Robert F. Bruner, Deals from Hell: M&A Lessons That Rise
Above the Ashes, John Wiley & Sons, Inc., 2005 (ISBN:
0471395951)
Arzac, Valuation: For Mergers, Buyouts, and Restructuring,
Wiley, 2005, (ISBN: 047144944X)
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
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 |
15% |
|
2. |
Homework |
20% |
|
3. |
Project |
35% |
|
4. |
Final Exam |
30% |
|
|
|
週次 |
日期 |
單元主題 |
|
第1週 |
2/19 |
Introduction |
|
第2週 |
2/26 |
Rationales for Mergers & Acquisitions |
|
第3週 |
3/04 |
Identifying Candidates, Due Diligence, and Negotiation |
|
第4週 |
3/11 |
Valuation (I) |
|
第5週 |
3/18 |
Valuation（II） |
|
第6週 |
3/25 |
Deal Structuring
*Case proposal due
|
|
第7週 |
4/01 |
Leveraged Transactions
Case I : AOL Time Warner (因誤會而結合)
|
|
第8週 |
4/08 |
Takeover Defense
Case II : 台新金 vs 彰銀 (複雜的二階段合併)
|
|
第9週 |
4/15 |
Corporate Restructuring (I)
Case III : 花旗 vs 僑銀 (外商銀行經營模式改變？)
Case IV: Google vs YouTube (網路業者的擴張模式)
|
|
第10週 |
4/22 |
Risk Management in M&A
Case V: Daimler Chrysler (異國情緣的結束)
|
|
第11週 |
4/29 |
Corporate Governance and Performance
Case VI : 海爾 vs Maytag vs Whirlpool (Made in
China 的擴張？)
Case VII : Pfizer vs Warner-Lambert (製藥業的水平
整合)
|
|
第12週 |
5/06 |
M&A Integration
Case VIII : 捷威 vs 綠點 (內線交易的誘惑)
Case X: 明基減資分割 (兵敗歐洲後的組織重整)
|
|
第13週 |
5/13 |
Presentation & Discussion |
|
第14週 |
5/20 |
Presentation & Discussion |
|
第15週 |
5/27 |
Presentation & Discussion |
|
第16週 |
6/03 |
Final Examination |
|
第17週 |
6/10 |
Presentation & Discussion |
|
第20週 |
|
Homework 001: Due Diligence Plan
2007 M&A goods assignments for your reference |
|