This course provides a comprehensive overview of strategic, economic and financial issues related to mergers and acquisitions. Specifically, we review the market for corporate control, discuss strategic issues related to firms' decision to acquire or be acquired, and examine the M&A regulatory environment. We analyze various valuation and deal structure considerations, identify strategies that underlay a successful negotiation, and review the financial reporting and income tax implications of M&A transactions.In covering these and other related issues, we will discuss both the theory and practice of mergers and acquisitions. To provide some specific context we will analyze many large and small M&A deals. In discussing these cases, we will examine the situation faced by the company, the issues surrounding the transaction, including the financial implications, and focus on the managerial incentives and the judgment applied. Class time comprises mini lectures that introduce some of the more technical concepts, case discussions, and guest speakers who will offer additional perspectives on the subject matters.The course is co-taught by Ron Kasznik (GSB) and Safra Catz (Oracle Corporation). Ms. Catz is the CEO of Oracle Corporation and a member of its Board of Directors. She has led Oracle through more than ACCT 100 acquisitions in recent years (including PeopleSoft, Siebel, BEA, Sun Microsystems, and many more). Prior to joining Oracle in 1999, Ms. Catz was Managing Director at Donaldson, Lufkin & Jenrette, a global investment bank (now part of CSFB). Ms. Catz also serves on the board of directors for Walt Disney. ). She has also served on the board of directors for HSBC (2008-2015) and Walt Disney (2018-2024).
3 units · GSB Student Option LTR/PF
This course provides a comprehensive overview of strategic, economic and financial issues related to mergers and acquisitions. Specifically, we review the market for corporate control, discuss strategic issues related to firms' decision to acquire or be acquired, and examine the M&A regulatory environment. We analyze various valuation and deal structure considerations, identify strategies that underlay a successful negotiation, and review the financial reporting and income tax implications of M&A transactions.In covering these and other related issues, we will discuss both the theory and practice of mergers and acquisitions. To provide some specific context we will analyze many large and small M&A deals. In discussing these cases, we will examine the situation faced by the company, the issues surrounding the transaction, including the financial implications, and focus on the managerial incentives and the judgment applied. Class time comprises mini lectures that introduce some of the more technical concepts, case discussions, and guest speakers who will offer additional perspectives on the subject matters.The course is co-taught by Ron Kasznik (GSB) and Safra Catz (Oracle Corporation). Ms. Catz is the CEO of Oracle Corporation and a member of its Board of Directors. She has led Oracle through more than 100 acquisitions in recent years (including PeopleSoft, Siebel, BEA, Sun Microsystems, and many more). Prior to joining Oracle in 1999, Ms. Catz was Managing Director at Donaldson, Lufkin & Jenrette, a global investment bank (now part of CSFB). Ms. Catz also serves on the board of directors for Walt Disney. ). She has also served on the board of directors for HSBC (2008-2015) and Walt Disney (2018-2024).