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課程名稱 |
企業合併與收購
Merger and Acquisition |
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開課學期 |
99-2 |
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授課對象 |
管理學院 財務金融學研究所 |
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授課教師 |
邱顯比 |
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課號 |
Fin5012 |
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課程識別碼 |
723 U3100 |
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班次 |
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學分 |
3 |
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全/半年 |
半年 |
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必/選修 |
選修 |
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上課時間 |
星期三A,B,C(18:25~21:05) |
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上課地點 |
管一101 |
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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 |
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Ceiba 課程網頁 |
http://ceiba.ntu.edu.tw/992ma |
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課程簡介影片 |
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核心能力關聯 |
核心能力與課程規劃關聯圖 |
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課程大綱
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為確保您我的權利,請尊重智慧財產權及不得非法影印
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課程概述 |
Mergers and Acquisitions
(723 U3100 )
National Taiwan University
Spring 2011
Professor: Shean-Bii Chiu
Office: Room 1007, Building Two, College of Management
Class Time: Wednesday 6:30pm — 9:15pm
Classroom: Room 101, Building One, College of Management
Office Hours: by appointment (send email)
Email: chiushnb@management.ntu.edu.tw
Course Website: https://ceiba.ntu.edu.tw/992ma
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)
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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. |
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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. |
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預期每週課後學習時數 |
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Office Hours |
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指定閱讀 |
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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, 5th edition, McKinsey & Company, Inc., 2010 (ISBN:9780470424704) 華泰書局 (02) 2162-1217
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)
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評量方式
(僅供參考) |
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週次 |
日期 |
單元主題 |
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第1週 |
2/23 |
Introduction |
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第2週 |
3/02 |
Rationales for Mergers & Acquisitions |
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第3週 |
3/09 |
Identifying Candidates, Due Diligence, and Negotiation |
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第4週 |
3/16 |
Valuation (I ) |
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第5週 |
3/23 |
Valuation（II） |
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第6週 |
3/30 |
Deal Structuring
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第7週 |
4/06 |
*Case proposal due
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第8週 |
4/13 |
Leveraged Transactions & Corporate Restructuring
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第9週 |
*4/20 |
*Prepare group project* |
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第10週 |
4/27 |
Takeover Defense
Case 1: 中國人壽併保誠人壽及進軍大陸 : 台灣壽險公司之發展
Case 2: 晶華酒店收購Regent : 跨足國際觀光旅館業
*Homework due
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第11週 |
*5/04 |
*Prepare group project* |
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第12週 |
5/11 |
Risk Management in M&A
Case 3: 雷凌合併誠致 : 網通晶片之整合
Case 4: 吉利汽車收購Volvo : 中國汽車業崛起
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第13週 |
*5/13 |
Corporate Governance and Performance
Case 5: Roche 收購Genentech : 品牌藥廠的整合
Case 6: Watson收購Arrow : 學名藥廠的整合
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第14週 |
5/25 |
M&A Integration (I)
Case 10: 合庫與農銀合併
Case 7: 以飛利浦為例, 如何以M&A 重組事業組合
Case 8: Groupon拒絕Google收購 : 網路新商業模式的競合
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第15週 |
6/01 |
Preparing Final Report
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第16週 |
6/08 |
M&A Integration (II)
Case 9: 中國平安收購深發展銀行
Case 13: 潤成投資併南山:尹衍樑的進與退
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第17週 |
6/15 |
Presentation & Discussion
Case 11: 金鼎花落群益 : 證券業整合恩怨情仇
Case 12: 台灣大併凱擘 : 有線電視壟斷 ?
Case 14: 旺旺集團併購三中媒體案
Case 15: HP/PalmCase
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