1. COURSE OBJECTIVES
Corporate Restructuring includes both healthy companies and distressed companies and investments. The first half of the course covers board governance of firms, mergers and acquisitions, leveraged buy outs and the role of finance and consulting professionals involved in transactions, both domestic and international. The second half of the course covers merger integration, both operational and financial, and the firm in financial or operational distress. We cover warning signs of distress, financial restructuring, bankruptcy and the emergence from bankruptcy.
2. COURSE CONTENTS
|
No. |
Content |
Time Allocation |
Contribution to CLO |
|||
|
Hour(s) on the class |
Essays, Assignments, Teamwork |
Self-study with teacher’s tutorials |
||||
|
Lecture |
Practice, Seminar |
|||||
|
1 |
Chapter 1: Introduction to M&A and corporate restructuring |
3 |
0 |
3 |
3 |
1,7, 9,10,11,12 |
|
2. |
Chapter 2: History of Mergers |
3 |
0 |
3 |
5 |
2,4, 7, 9,10,11,12 |
|
3 |
Chapter 3: Legal Framework |
2 |
3 |
0 |
5.5 |
2, 7, 9,10,11,12 |
|
4 |
Chapter 15: Business Valuation |
3 |
3 |
0 |
6 |
5,7,8,9,10 |
|
5 |
Chapter 4: Merger Strategy |
3 |
0 |
0 |
3 |
3,8,9,10,11,12 |
|
6 |
Chapter 5: Antitakeover Measures |
3 |
0 |
3 |
3 |
4,7, 9,10,11,12 |
|
7 |
Chapter 6: Takeover Tactics |
3 |
0 |
0 |
5 |
4,7, 9,10,11,12 |
|
8 |
Chapter 7: Hedge Funds as Activist Investors |
3 |
1 |
0 |
6.5 |
4,7, 9,10,11,12 |
|
9 |
Chapter 8: Leveraged Buyouts |
3 |
2 |
3 |
3 |
4,7, 9,10,11,12 |
|
10 |
Chapter 9: The Private Equity Market |
2 |
3 |
0 |
5.5 |
5,7, 9,10,11,12 |
|
11 |
Chapter 10: High-Yield Financing and the Leveraged Loan Market |
3 |
0 |
0 |
3 |
5,7, 9,10,11,12 |
|
12 |
Chapter 11: Corporate Restructuring |
2 |
0 |
3 |
5.5 |
5,7, 9,10,11,12 |
|
13 |
Chapter 14: Joint Ventures and Strategic Alliances |
3 |
0 |
3 |
3.5 |
6,7, 9,10,11,12 |
|
14 |
Guest speaker |
3 |
0 |
0 |
16 |
3-6, 12 |
|
15 |
Presentation |
0 |
3 |
4.5 |
10.5 |
1-12 |
|
Total |
30 |
15 |
22.5 |
82.5 |
||
3. COURSE ASSESSMENT
– Score ladder: 10
– Type of assessment
*Formative assessement: Class attendace (10%)
*Summative assessment (90%)
|
No. |
Assessment |
Rate |
|
I |
Mid-Term |
30% |
|
1 |
Assignment (Group essay) |
20% |
|
2 |
Mid-term exam: multiple choices and short answer test |
10% |
|
II |
Final term |
60% |
|
1 |
Final-term exam: multiple choices and/or short answer test. Group report, essays |
– Score ladder: 10
– Type of assessment
|
Form |
Content |
Criteria |
CLO |
Proportion |
|
|
Formative |
Attendance |
Attitude assessment |
The number of attendances and participation in lesson |
1,2,3,4,5,6 |
10% |
|
Quiz, midterm test |
Knowledge and skill assessment |
Quick test, 30 minutes |
3,4,5,6,7,8 |
10% |
|
|
Report |
Knowledge and skill assessment |
Group or individual assignment |
7-12 |
20% |
|
|
Summative |
Final test |
Knowledge and skill assessment |
MCQ + writing (60 mins) |
1-10 |
40% |
|
|
|
|
Total: |
100% |
|
- Types of assessment
Mid – Term test
- Form: Written test ( include: multiple choices and short answer test)
- Content: all materials covered in the course schedule.
- The test is composed of two parts:
- Multiple choice questions (15-20 questions) : true-false, multiple-choice (account for 60% of final score)
- Short answer questions: 1-2 questions (account for 40%)
- Criteria:
+ Giving precise MC answers: 6 points
+ Clear, structured, informative essays: 4 points
Total: 10 points
Mid – Term Assignment
- General rules for all written documentations
All works are presented on A4 sized paper, size: 12, font: Times New Roman or VnTime; margin settings as follows: top 2.5 cm, bottom 2.5 cm, left 3.5 cm, right 2 cm; spacing 1.5.
- Group work
- Length: 15–30 pages excluding references and appendices which can be unlimited The number of pages also does not count the cover page and the pages of table of contents, abbreviations, and the list of tables & figures
- The exam paper must have a cover page (with student name, class, and topic); a table of contents, a list of abbreviations, a list of tables & figures; and a list of references
- Citations must be made clear in the paper (referencing can be in the footnotes, or in the text following Harvard citation system which can be seen here, for example, http://libweb.anglia.ac.uk/referencing/harvard.htm)
- Criteria:
+ Clear and feasible topics 2 points
+ Sufficient contents, straight to the point, logical analysis 4 points
+ Use of variety of references, 1 point
+ Coherent writing, precise citation 1 points
+ Well-presented, good Q&A part 2 points
Total: 10 points
- Final examination
- Form: Written test
- Content: all materials covered in the course schedule.
- The test is composed of two parts:
- Multiple choice questions (15 questions) : true-false, multiple-choice (account for 60% of final score)
- Short answer questions: 1-2 questions (account for 40%)
- Criteria:
+ Giving precise MC answers: 6 points
+ Clear, structured, informative essays: 4 points
Total: 10 points