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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 |
100-2 |
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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/1002ma |
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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 2012
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/1002ma
Phone: 02-33661079
Grade Composition Participation: 20%
Homework: 20%
Project- Presentation: 20%
Project- Written Report: 20%
Individual Final Report 20%
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 |
2/22 |
Introduction |
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第2週 |
2/29 |
Rationales for Mergers & Acquisitions
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第3週 |
3/07 |
Identifying Candidates, Due Diligence, and Negotiation |
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第4週 |
3/14 |
*Prepare group project* |
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第5週 |
3/21 |
Valuation (I ) |
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第6週 |
3/28 |
Valuation（II）
*Case proposal due(3/27)
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第7週 |
4/04 |
兒童節暨清明節停課 |
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第8週 |
4/11 |
Deal Structuring |
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第9週 |
4/18 |
Corporate Restructuring& Leveraged Transactions |
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第10週 |
4/25 |
Takeover Defense
Case 1: HTC一系列收購案是否加強其競爭力
Case 2: 聯發科併雷凌：IC設計的整合
*Homework due
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第11週 |
5/02 |
Risk Management in M&A
Case 3: Olympus利用購併案掩蓋投資損失
Case 4: Test Rite & EZSET
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第12週 |
5/09 |
Corporate Governance and Performance
Case 5: 晶電企圖惡意購併泰谷光電
Case 6: Glencore併Xstrata：天然資源產業的互補
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第13週 |
5/16 |
M&A Integration (I) Case 7: Illumina股東控告毒藥丸防禦不當 Case 8: Seagate/Samsung及Western Digital/HGST:儲存產業的整合 |
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第14週 |
5/23 |
M&A Integration (II)
Case 9: Google併購Motorola：深入手機市場的挑戰
Case 10: Presentation BASF惡意併購Engelhard的戰略布局
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第15週 |
5/30 |
Preparing Final Report |
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第16週 |
6/06 |
Presentation & Discussion
Case 11: UPS Acquires TNT Express
Case 12: 元寶合併 真的變成大元寶嗎？
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第17週 |
6/13 |
Presentation & Discussion
Case 13: 亮不亮有關係，東貝光電佈局LED照明市場
Case 14: AT&T 含淚放棄T-Mobile ─反托拉斯法發威
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