Mergers and Acquisitions

Introduction
The Matrix Merges with itself Have you been acquired by The Matrix ?

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In real life, strategy is actually very straightforward. You pick a general direction and implement like hell ~ J.Welch, former Chairman, General Electric The big danger in mega-mergers is that they are seen as a mating of dinosaurs. ~ Sir Peter Bonfield, former CEO British Telecom The very best takeovers are thoroughly hostile. I've never seen a really good company taken over. Only bad ones. ~ Sir James Goldsmith, British entrepreneur, financier, politician Leadership that's reliant on mergers and acquisitions is dangerous leadership.~ John Varley, former CEO Barclays Bank

SIIB
Pune Aug-Sep 2012
Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 1 September 10, 2012

Methodology of Course
Structured lectures by Instructor. Class Participation: Discussion of concepts, example case-studies and problem-solving in class. Online and offline quizzes Group Project presentation and report submission

Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 2 September 10, 2012

Curriculum and Schedule

Date From To 19 17 Hours S#s 3 4 Topic 29-Aug-12 16 30-Aug-12 13 1-3 Introduction to course. Corporate Restructuring 4-7 M&A activity: types, motivations and tactics. Quiz 1: 30 minutes (Qualitative and MCQ). 8-11 Funding of Acquisition, Leveraged Buyouts and Going Private 12-15 Valuation of Targets, Exchange Ratio fixation 16-19 Case discussions : Acquisition of Corus by Tata Steel.

5-Sep-12
6-Sep-12

09
09

13
13 13

4
4 4

` `

12-Sep-12 09

13-Sep-12 09

13

Quiz2: 2 hours (Excel-based exercises included). 20-23 Special Topics: Due Diligence, Parastatal disinvestments, ESOPs, Taxation Case discussions : Merger of ICICI with ICICI Bank Quiz3: 4 hours: Group Role Play (5 waves) 28-31 with individual reports Group Presentation of Case Analysis : Case 32-35 from field or literature 24-27 M&A : Mergers and Acquisitions
Introduction
Slide no. 3 September 10, 2012

20-Sep-12 09 26-Sep-12 09 27-Sep-12 09

Author: Dilip Thosar SIIB Aug-Sep 2012

13 13 13

4 4 4

Evaluation
Component
Quiz1 (30 minutes)

Marks
5

Date
05Sep2012

Online test 1 Quiz2 (2 hours, Excel based analyses) Online test 2 Quiz3 (Group Role Play 5 waves) Group Field Case Presentation Written test ( extra component) Total Internal External Exam (90 minutes) Total : 2 credits
Author: Dilip Thosar SIIB Aug-Sep 2012

5 15 5 15 15 15 60 40 100

06Sep2012 13Sep2012 20Sep2012 26Sep2012 27Sep2012 28Sep2012

TBD

M&A : Mergers and Acquisitions

Introduction

Slide no. 4 September 10, 2012

Reference Books
Mergers, Acquisitions and Corporate Restructuring : Prasad G. Godbole, Vikas Publishing House P. Ltd.
Mergers, Acquisitions and Corporate Restructuring ~ Patrick A. Gaughan, Wiley India (John Wiley & Sons, Inc), ISBN: 978-81265-1884-5
Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 5 September 10, 2012

Group work
CR and Formation of Groups Selection by each group of its Id company
Startup, SME, TechCo, PSU, MNC,

Communicating this info to Faculty Detailed study of own Id company at strategic level
acquiring past data and plans mainly financial statements, marketing info, product brief, competition, suppliers, customers TiE, Fin websites, Exchanges, Co. website, interviews with co. officials,

Creating summary report describing strategic position of company Submission of all of above to faculty on 20Sep2012 Presentation of above on 27Sep2012
Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 6 September 10, 2012

Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 7 September 10, 2012

Questions?

Author: Dilip Thosar SIIB Aug-Sep 2012

M&A : Mergers and Acquisitions

Introduction

Slide no. 8 September 10, 2012