13318 (v.3) Finance (Market for Corporate Control) 511

Area:

School of Economics and Finance

Credits:

25.0

Contact Hours:

3.0

Seminar:

1 x 3 Hours Weekly

Prerequisite(s):

11948 (v.2) Finance (Managerial) 512 or any previous version

Syllabus:

Examination of the motives and incentives for mergers, acquisitions and takeovers. Measuring security price performance. The causes and consequences of takeovers. Corporate raiders. Corporate governance through proxy contests. The effects of share marketrepurchases versus cash dividends as forms of corporate payouts. Anti-takeover defence mechanisms. Executive compensations structures, ownership and firm performance.

Unit Outcomes:

On successful completion of this unit students will have knowledge of what drives the market for corporate control. This market action includes takeovers, mergers, spin-offs, reorganisations, proxy fights and other corporate manoeuvres. Understanding of the motivation, rational, reasons and other issues that drive the players in the market to undertake mergers and takeovers of the topical events that were studied.

Text and references listed above are for your information only and current as of September 30, 2003. Please check with the unit coordinator for up-to-date information.

Unit References:

No prescribed references.

Unit Texts:

Weston, J.F., Siu, J.A. and Johnson, B.A. Takeovers, Restructuring and Corporate Governance. 3rd ed.

Unit Assessment Breakdown:

Class Participation 10%, Presentation 30%, Final Examination 60%. This is by grade/mark assessment.

Year	Location	Period	Internal	Area External	Central External
2004	Bentley Campus	Semester 1	Y		Y