This course seeks to analyze M&A deals from multiple perspectives: (1) economic logic, including the synergies between targets and acquirors and their respective bargaining power, and the logic of the mode of sale chosen (broad based auction  or privately negotiated sale, deal protection mechanisms (including contractual such as go-shop and no-shop as well as financial such as termination fees and management employment contracts pre- and post-merger), (2)  financial value, (3) legal risks related to litigation and regulation, and (4) the roles of investment bankers and other consultants as information intermediaries.

Charles Calomiris

Henry Kaufman Professor of Financial Institutions

Charles W. Calomiris is the Henry Kaufman Professor of Financial Institutions at Columbia Business School, the Director of Columbia Business School’s Program for Financial Studies and of the PFS Initiative on Finance and Growth in Emerging Markets, and a professor at Columbia’s School of International and Public Affairs. His research spans the areas of banking...

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Donna Hitscherich

Senior Lecturer in Discipline in Business

Professor Donna M. Hitscherich currently serves as a senior lecturer of Finance, director of the Private Equity Program, and a Bernstein Faculty Leader at the Sanford C. Bernstein & Co. Center for Leadership and Ethics at Columbia Business School. Professor Hitscherich’s courses include Corporate Finance as well as the elective courses Business Law, Mergers and Acquisitions, and Advanced Corporate Finance. In 2002, she...

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