Chapter_17收购、兼并和重组课后题目.ppt

* * * * * * * * * * Alternative Exit and Restructuring Strategies:Reorganization and Liquidation What is important is not adding more years to life but more life to your years. —Doug Fields Exhibit 1: Course Layout: Mergers, Acquisitions, and Other Restructuring Activities Part IV: Deal Structuring and Financing Part II: MA Process Part I: MA Environment Ch. 11: Payment and Legal Considerations Ch. 7: Discounted Cash Flow Valuation Ch. 9: Financial Modeling Techniques Ch. 6: MA Postclosing Integration Ch. 4: Business and Acquisition Plans Ch. 5: Search through Closing Activities Part V: Alternative Business and Restructuring Strategies Ch. 12: Accounting Tax Considerations Ch. 15: Business Alliances Ch. 16: Divestitures, Spin-Offs, Split-Offs, and Equity Carve-Outs Ch. 17: Bankruptcy and Liquidation Ch. 2: Regulatory Considerations Ch. 1: Motivations for MA Part III: MA Valuation and Modeling Ch. 3: Takeover Tactics, Defenses, and Corporate Governance Ch. 13: Financing the Deal Ch. 8: Relative Valuation Methodologies Ch. 18: Cross-Border Transactions Ch. 14: Valuing Highly Leveraged Transactions Ch. 10: Private Company Valuation Learning Objectives Primary Learning Objective: To provide students with an understanding of alternative strategies for failing businesses Secondary Learning Objectives: To provide students with an understanding of Criteria for choosing strategy for failing firms Process used to file for bankruptcy, voluntary and involuntary settlements inside and outside of court, and voluntary and involuntary liquidation Rule of Law and Corporate Asset Allocation The smooth functioning of capital markets requires rapid and fair resolution of disputes involving the legal rights of borrowers and lenders Studies show that borrowing costs are lower and access to credit easier in countries which enforce credit rights Total cost of financial