Chapter_4收购、兼并和重组课后题目.ppt

* * * * * * * * * * * * * * * * * * * * * * Developing Business and Acquisition Plans: Phases 1 2 of the Acquisition Process If you don’t know where you are going, any road will get you there. —Alice in Wonderland 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 Current Learning Objectives Primary learning objectives: To provide students with an understanding of a highly practical “planning based” approach to managing the acquisition process and the issues associated with each phase of the MA process Secondary learning objectives: To provide students with an understanding of how to select the correct strategy from a range of reasonable alternatives and develop an acquisition plan The Acquisition Process Pre-Purchase Decision Activities Post-Purchase Decision Activities Phase 1: Business Plan Phase 2: Acquisition Plan Phase 3: Search Phase 4: Screen Phase 5: First Contact Phase 6: Negotiation Phase 7: Integration Plan Phase 8: Closing Phase 9: Integration Phase 10: Evaluation Phase 1: Business Plan Industry/market definition (Where have we chosen to compete?) E