FIN330 Mergers and Acquisitions

This subject focuses on the merger and acquisition process in the Australian market. It examines the regulatory environment for mergers and acquisitions in Australia and identifies the relevant shareholding thresholds under the Corporations Act. It also provides an overview of the research phase and role of the corporate adviser. It compares the different forms of acquisition, including private treaty acquisitions, and discusses the implementation of offeror and defensive strategies. Students apply their understanding of the merger and acquisition process through analysis of a real transaction that occurred in the Australian market in recent years.

For more information, please refer to the subject outline.

  • Learning outcomes
    • On successful completion of this subject individuals should be able to:

      1. Apply the regulatory framework to acquisitions and takeovers
      2. Compare different forms of acquisitions and divestments
      3. Apply valuation methods to mergers and acquisitions
      4. Implement offeror strategies
      5. Implement defensive strategies
      6. Compare methods of structuring and funding the acquisition.
  • Subject content
    • Topic Title
      Topic 1 Introduction to mergers and acquisitions
      Topic 2 Valuation issues in mergers and acquisitions
      Topic 3 Private treaty acquisitions and sales
      Topic 4 Regulatory considerations for bidders
      Topic 5 Public company activities
      Topic 6 Forms of consideration and funding the acquisition
      Topic 7 Commercial considerations and strategies for the acquirer
      Topic 8 Formal response to a bid
      Topic 9 Defensive strategies: Pre-emptive and reactive
      Topic 10 The Takeovers Panel

       

  • Duration
    • The duration of this subject is one study period (12 weeks).

  • Assessment
  • Prerequisites
    • There are no prerequisites for this subject.

      However, individuals should review the ‘Assumed Knowledge’ tab to understand the prior knowledge Kaplan advises they should hold before enrolling in this subject.

  • Assumed knowledge
    • Whilst there are no prerequisites for this subject, Kaplan assumes that individuals have completed FIN202 Fundamentals of Asset Valuation, FIN203 Fundamentals of Equity Markets and FIN204 Fundamentals of Risk or understand the content covered in those subjects, prior to undertaking FIN330 Mergers and Acquisitions.

  • Course transition subject equivalence
    • Individuals may not be required to complete this subject if they have transitioned from a SIA/Finsia/Kaplan course and have completed the following subjects:

      • E142 Mergers and Acquisitions
      • FIN230 Mergers and Acquisitions
  • Reading list
    • There is no prescribed text for this subject.

      Individuals are provided with key readings and access to Kaplan’s online databases. Individuals are encouraged to research and read widely on the topic.