Universität Wien

040118 KU Corporate Restructuring (MA) (2025S)

4.00 ECTS (2.00 SWS), SPL 4 - Wirtschaftswissenschaften
Prüfungsimmanente Lehrveranstaltung
Moodle
Fr 13.06. 15:00-20:00 Hörsaal 12 Oskar-Morgenstern-Platz 1 2.Stock

An/Abmeldung

Hinweis: Ihr Anmeldezeitpunkt innerhalb der Frist hat keine Auswirkungen auf die Platzvergabe (kein "first come, first served").

Details

max. 50 Teilnehmer*innen
Sprache: Englisch

Lehrende

Termine (iCal) - nächster Termin ist mit N markiert

  • Montag 16.06. 15:00 - 20:00 Hörsaal 1 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Freitag 20.06. 15:00 - 20:00 Hörsaal 8 Oskar-Morgenstern-Platz 1 1.Stock
  • Montag 23.06. 15:00 - 20:00 Hörsaal 4 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Freitag 27.06. 15:00 - 20:00 Hörsaal 5 Oskar-Morgenstern-Platz 1 Erdgeschoß
  • Montag 30.06. 15:00 - 20:00 Hörsaal 17 Oskar-Morgenstern-Platz 1 2.Stock

Information

Ziele, Inhalte und Methode der Lehrveranstaltung

We will consider different financial transactions involving the in-depth restructuring of a com-pany’s business and/or capital structure. The emphasis will be on the valuation techniques and execution stages of a diverse set of restructuring transactions, but we will also discuss some aspects of the strategic rationales underlying these transactions.

Main themes
• Conglomerate Valuation (Divestitures and Spinoffs)
• Leveraged buyouts (LBO) and management buyouts (MBO)
• Distressed Restructuring
• Initial public offerings (IPO)

Sessions
• Lectures on background and techniques,
• Team work on case studies
• Discussions of team case studies

Requirements:
Previous knowledge in Corporate Finance and Valuation is required. Please notice that this is an advanced course, and not an introduction to valuation!

The precondition for the participation is the positive completion of the courses:
KU Corporate Finance 1 AND KU Valuation!

Goals:
Upon completing this course students should be able to understand:
• the need and scope of corporate restructuring
• the various modes of restructuring (M&A, Spin-offs, LBOs, IPOs), the planning and exe-cution of various restructuring strategies
• the feasibility and trade-offs employed in the different forms of restructuring
• the appropriateness of the different valuation models used in restructurings

The course consist of lectures, and in-class and take-home cases. Case studies are the bread and butter of this course. Before each session, please read the corresponding case study and study questions. There is no need to prepare a case analysis before the session as session time will be set aside for team work. However, thinking about the questions ahead of time will help you hit the ground running.

The students are required to purchase the case studies discussed in the course.

Art der Leistungskontrolle und erlaubte Hilfsmittel

Note that participation in the course is COMPULSORY. No session can be missed, without any exception! Not being able to attend all sessions will result in failing the course.

The evaluation will be based on the following items:
80% Case-study work (in groups) –in class and take-home
20% Participation

Mindestanforderungen und Beurteilungsmaßstab

The participation in the course is COMPULSORY. No session can be missed, without any exception! Not being able to attend all sessions will result in failing the course.

Prüfungsstoff

See course description above

Literatur

Donald DePamphilis: Mergers, Acquisitions and Other Restructuring Activities (Academic Press, 2nd ed.)
Other recommended books:
• Patrick Gaughan, Mergers, Acquisitions and Corporate Restructurings (3rd ed, Wiley)
• Stuart Gilson, Creating Value Through Corporate Restructuring (Wiley Finance)
• Fred Weston and Samuel Weaver, Mergers and Acquisitions (Mc Graw-Hill)
• Fred Weston, Kwang Chung, Juan Siu, Takeovers, Restructuring, & Corporate Govern-ance (2nd Ed., Prentice-Hall)
Links to cases from HBS, INSEAD and HEC, which course participants are required to purchase, will be provided in due course.

Zuordnung im Vorlesungsverzeichnis

Letzte Änderung: Di 15.04.2025 12:25