Corporate Mergers and Acquisitions
Corporate Finance Coursework
This is just a rough idea of what everyone can start on by themselves. Some parts will require more of a group effort but I think this will be a good start.
If anyone has any problems then just send an e-mail round to everyone. Once one part is completed then could everyone send an e-mail of it round to the rest of the group.
Word limit is 6,000 words but write as much as you can and we can edit it down.
Coursework
TAKEOVER EXERCISE
• Introduction: a description of the industry background, recent trends and deals, etc. Discuss how these industry trends contribute to a merger being beneficial between your bidder and target. KIRSTEN • Background on the two companies: give a brief strength, weakness, opportunity, threat (SWOT) analysis. Comment on recent stock market performance by the companies. – KIRSTEN. • Valuation of target company: using the comparable companies or comparable transactions approach and actual numbers from the companies’ recent balance sheets and financial statements, place a valuation on the target company. Show your calculations in the text or appendix. JAMES • Write a letter from the bidder board of directors to bidder shareholders stating the case in favour of making a bid at the offer price, discussing how much the target is expected to be worth to the bidder once combined with the bidder and how this compares with the offer price and where the enhanced value is expected to come from. EILIDH & FIONA • The offer: write a letter from the bidder board of directors to target shareholders stating the price per share of the target, the form of compensation, and arguments for why it is in target shareholder interests to tender their shares. EILIDH, FIONA • The defence: write a letter from the target board of directors to target shareholders evaluating the offer and giving a recommendation whether the deal is in target
This is just a rough idea of what everyone can start on by themselves. Some parts will require more of a group effort but I think this will be a good start.
If anyone has any problems then just send an e-mail round to everyone. Once one part is completed then could everyone send an e-mail of it round to the rest of the group.
Word limit is 6,000 words but write as much as you can and we can edit it down.
Coursework
TAKEOVER EXERCISE
• Introduction: a description of the industry background, recent trends and deals, etc. Discuss how these industry trends contribute to a merger being beneficial between your bidder and target. KIRSTEN • Background on the two companies: give a brief strength, weakness, opportunity, threat (SWOT) analysis. Comment on recent stock market performance by the companies. – KIRSTEN. • Valuation of target company: using the comparable companies or comparable transactions approach and actual numbers from the companies’ recent balance sheets and financial statements, place a valuation on the target company. Show your calculations in the text or appendix. JAMES • Write a letter from the bidder board of directors to bidder shareholders stating the case in favour of making a bid at the offer price, discussing how much the target is expected to be worth to the bidder once combined with the bidder and how this compares with the offer price and where the enhanced value is expected to come from. EILIDH & FIONA • The offer: write a letter from the bidder board of directors to target shareholders stating the price per share of the target, the form of compensation, and arguments for why it is in target shareholder interests to tender their shares. EILIDH, FIONA • The defence: write a letter from the target board of directors to target shareholders evaluating the offer and giving a recommendation whether the deal is in target