Corporate Finance: Introduction and a Practitioner's View on Deal Making

Course Description:

The course targets predominantly graduates with a degree in law but also those with a business administration or economics background. The objective is to offer an interdisciplinary education that combines corporate finance elements and legal aspects with a strong "real life" oriented approach. The course target is to enable students to understand the interdependencies corporate finance professionals and lawyers alike are confronted with in everyday Corporate Finance and in particular M&A situations and to develop a profound understanding when acting as intermediary in a broad variety of transaction contexts.

The course will be as interactive as possible. Handout-slides will be circulated prior to the respective module. Students will be required to read the materials beforehand and engage in active dialogue with fellow students as well as the lecturer.

Note:

Pre-requisite for this course is "Fundamentals of Finance" (for students without finance background) and "Accounting" (for students without accounting background) in the winter semester.

Contents:

SESSION I (3h)

MODULE 1: Introduction to Corporate Finance 

MODULE 2: Valuation I – Relevant Methodologies

SESSION II (3h)

MODULE 3: Valuation II – Relevant Methodologies

MODULE 4: Operating Model and Business Plan

SESSION III (3h)

MODULE 5: M&A Processes – Private M&A

MODULE 6: Carve-out Topics

SESSION IV (3h)

MODULE 7: Leveraged Buyouts, Financial Investors and Private Equity as an Asset Class

SESSION V (3h)

MODULE 8: Equity Financing and IPO Process

MODULE 9: Debt Financing and the Concept of Leverage

SESSION VI (3h)

MODULE 10: Discussion of Financial Investors Case Study/ Homework Assignment   

MODULE 11: Review 

The following two books are suggested, but not required, pre-reading. These sources may serve as a first entry point for familiarization with some of the key topics of the Corporate Finance course, particularly for students with a non-business/non-economics degree. The course will, nonetheless, independently lay the foundations for an advanced understanding of these concepts which will form the basis for the relevant modules and not least for the to-be-graded case study and exam.

  • Rosenbaum, Joshua and Joshua Pearl. Investment Banking: Valuation, Leveraged Buyouts, and Mergers and Acquisitions. Forward by Joseph R. Perella. Hoboken, N.J.: Wiley, 2009.
  • Koller, Tim; Goedhart, Marc and David Wessels. Valuation: Measuring and Managing the Value of Companies. 5th Ed. Hoboken, N.J. Wiley, 2010.

Credit Points:

5

Lecturer(s):

Jan Caspar Hoffmann

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