BUS 621 - Corporate Governance and Restructuring
Pick up the Wall Street Journal or the Financial Times and you fill find some form of corporate restructuring or some corporate governance issue in the news. This course is about understanding and developing insights about such phenomena. We will start the course by understanding Valuation using DCF and Multiples methods. We will then examine synergies, deal design and risk management in the context of Mergers and Acquisitions. After enhancing our understanding of Mergers and Acquisitions, we will move to hostile takeovers where we will understand the mechanisms for mounting a hostile takeover as also takeover defenses such as poison pills, golden parachutes, etc. In the latter half of the course, we will examine how restructuring the Capital Structure of a company can add value to the company. This part will cover Leveraged Buyouts, particularly Technology buyouts that have been so popular over the last few years, and Leveraged Recapitalizations. The course will contain a mixture of cases and class lectures. This course is indispensable to all students interested in pursuing Finance or Strategy careers. Participants will analyze a current acquisition and will be responsible for setting an overall corporate strategy.