Corporate Development (Spring Semester 2017)

General Information

ECTS 4 (= 2 SWS) 
Professor / Lecturer Dr. Peter M. Binder
Contact  p.binder@ch.oaklins.com
Location Engehalde 8, Room 003

Credits acknowledged

For students specializing in management: in supplementary subjects (Ergänzungsbereich)
For students of other specialties: in elective subjects (Wahlbereich)

Target Group

Master students

Language

English

Registration

Students are required to register for this course in KSL. Registration is open from February 7, 2017 to March 1, 2017. Manual registrations after the deadline are not possible. The number of participants is limited (max. 30).

Teaching Approach and Performance Evaluation

This course is designed as an interactive, applied, case‒based class with accompanying readings. To guide you through the course materials, I have prepared a detailed schedule with remarks which are the basis for class discussion questions. The assigned readings should provide you with a starting point for analyzing the cases.

Individual Performance

A student’s evaluation in this course is based on the following components: 

  • Individual class participation 35% 
  • Project draft 20% 
  • Group project presentation 10% 
  • Group project paper 35% 

Class participation is crucial for learning in the course. It is expected that class participants are well‒prepared for each session and thoughtfully and frequently contribute to the discussions. You are expected to attend all classes (at least 80 %) during the scheduled time. Absences and tardiness will adversely affect class participation marks. Course deadlines are strict. Late submissions of drafts or final reports for the group project are not accepted.

Attendance of all classes is mandatory.

Course Description

MERGERS AND ACQUISITIONS: Process – Execution - Integration

In a turbulent global environment with rapidly changing technologies and consumer preferences firms need to constantly renew themselves to sustain competitive and corporate advantages. Hence, firms need to identify opportunities to leverage their capabilities around different businesses throughout the world. Indeed, companies need to critically assess, plan, execute and evaluate corporate development strategies. 

In this applications oriented course current state-of-the-art knowledge on corporate development together with real world case studies will be presented. The course builds on the prior courses in strategic management and corporate strategy and will introduce you to business (finance) principles and analytical techniques. The course participants should be able to apply basic business principles and analytical techniques to actual problems likely to be encoun-tered by senior management of major corporations or those who are the advisors to such management in the context of an M&A transaction. In this course you will explore modes of corporate development with a focus on mergers and acquisitions. Strategic and operational aspects of corporate development strategies are at the core of this course covering deals from a variety of industries. 

After completion of this course you should be able: 

  • to assess and apply the tools for the selection of a corporate development strategy appro-priate in a given context 
  • to understand the critical issues managing strategic partnerships
  • to develop a comprehensive framework for initiating, planning and executing M&As 

The course contains the essential topics of corporate development. At the beginning of the course the students will learn the necessary terminology and basic principles, such as processual elements, of M&A. Then you will delve into business modelling and basic valuation is-sues. You will also be exposed to important issues such as the assessment of the resource needed (by the acquirer), the acquisition screening and dealmaking, as well as the post‒merger integration. The course will end with the presentation of project work and a review of the learned contents.

Course Material 

Course materials will be available on ILIAS.

Tentative Course Overview (subject to changes) 

Date  Time  Topic Room 
21 Feb 8.15-10.00 a.m. Introduction (is not taking place on the 21st of February) 003, Engehalde 8
28 Feb 8.15-10.00 a.m.
M&A: uniqueness of the situation of an enterprise 003, Engehalde 8
7 Mar 8.15-10.00 a.m.
M&A: the process 003, Engehalde 8
14 Mar 8.15-10.00 a.m.
M&A: Understanding the Business of the target - The essentials of the assessment of a company: DD and Business modelling 003, Engehalde 8
21 Mar 8.15-10.00 a.m.
M&A: DD and Business Modelling II 003, Engehalde 8
28 Mar 8.15-10.00 a.m.
M&A: Valuation I 003, Engehalde 8
4 Apr 8.15-10.00 a.m.
M&A Valuation II - Negotiations 003, Engehalde 8
11 Apr 8.15-10.00 a.m.
Transactional issues 003, Engehalde 8
28 Apr
Eastern Break   
25 Apr 8.15-10.00 a.m. International M&A transactions 003, Engehalde 8
2 May 8.15-10.00 a.m.
Post-Merger Integration 003, Engehalde 8
9 May 8.15-10.00 a.m.
Full Case Study 003, Engehalde 8
16 May 8.15-10.00 a.m.
Full Case Study 003, Engehalde 8
23 May 8.15-10.00 a.m. Final Presentations of the students 003, Engehalde 8
30 May 8.15-10.00 a.m. Course Wrap-Up 003, Engehalde 8