- Choice of procedures: merge all the assets/liabilities with yours ; buy the stocks, buy the individual assets. It is a complex mechanism: antitrust law, different taxations...
- Amicable or hostile take-over
• in practice of mergers from financial holdings ; MBO (management buy out) did not work in France
• Pb of all acquisitions
- asymmetric information
- corporate culture: the staff must agree, otherwise its behaviour could hinder the development of the merger
- cost of take-overs: banker, lawyers.
Corporate control >>
|
|
Corporate finance
The subject: corporate finance
PART ONE: CAPITAL EXPENDITURE
The present value
Investment
decisions
Practical
problems in capital budgeting
Firms evaluation
PART TWO. BASICS OF FINANCE
The financial
markets
Options
The market
efficiency
Risk
Mergers,
Acquisitions, and Corporate Control
International
Financial Management
PART THREE FINANCING DECISIONS
Corporate
financing
Dividend policy
and capital structure
PART FOUR FINANCIAL MANAGEMENT
Financial
planning
Short-term
financial management
Courses created and updated by Dr David Chelly, PhD in Management sciences from the University of Tours.
|