Syllabus overview (public)

Programme	Master in Management
Academic Year	Academic Year 2023/2024
Module/course Code	FX57
Delivery location	Torino
Language	English
Course type	Elective courses 30h
Contact hours	30
ECTS	5
Semester	Spring
Module name	M&A TECHNIQUES, LEVERAGED BUY-OUT
Field (Discipline)	Finance
Academic Department	Finance

Outline

Module/course Summary

Module/course Summary

In a world where growth is considered more and more important for obtaining satisfactory valuations, external, rather than organic corporate expansion is becoming the chosen avenue in a majority of cases. This is true both in mature value sectors, to combat secular deceleration , just as much as in growth sectors, in order to increase speed an accelerate scale. Even a cursory look at financial media will reveal the preponderance of acquisition-related deals impacts on market behaviour and direction. Correlation between m & a deals and market performance is very high and growing, reflecting the importance of structured finance respect to the general economic trends. LBOs and other financial techniques are sophisticated methods of enhancing takeovers and returns to sponsors and investors. This acquisitive trend is fuelled also by the investing power
deployed by Private equity funds, probably the most relevant actors in today’s complex financial world. 

Pre-requisite

Pre-requisites

This is an advanced finance course, so participants are expected to have completed the “Firm evaluation” elective course or at least be highly familiar with the following concepts of corporate finance : discounting and compounding , NPV, free cash flows, IRR, equity value, enterprise value, debt, multiples, firm evaluation with DCF and terminal value. Participants should be familiar with using excel modelling.