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Sonia Omar, Jeffrey Hooke, and Ashley B

Week 1 - M&A Finance and The Seller’s Viewpoint Financial accounting, projections, how to finance the deal, and theseller’s viewpoint Week 2 - Case studies and further lessons Explore the seller’s viewpoint through case studies, then explore in more depth first offers, disclosure, hostile takeover defenses and private equity Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This course is ideal for financial analysts and associates. It is also suitable for directors and managers who have transitioned, or hope to transition, to mergers and acquisitions from other areas, such as equities or fixed income. To get the most from this course you will need a good knowledge of financial analysis and MS Excel.

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Week 1 - M&A Finance and The Seller’s Viewpoint Financial accounting, projections, how to finance the deal, and theseller’s viewpoint Week 2 - Case studies and further lessons Explore the seller’s viewpoint through case studies, then explore in more depth first offers, disclosure, hostile takeover defenses and private equity Most FutureLearn courses run multiple times. Every run of a course has a set start date but you can join it and work through it after it starts. Find out more This course is ideal for financial analysts and associates. It is also suitable for directors and managers who have transitioned, or hope to transition, to mergers and acquisitions from other areas, such as equities or fixed income. To get the most from this course you will need a good knowledge of financial analysis and MS Excel.

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    Reviews summary

    Advanced m&a theory with strong cases

    According to students, this course provides a solid theoretical foundation in Mergers and Acquisitions, particularly excelling in advanced concepts and strategic insights. Many highlight the excellent case studies as bringing real-world applications to life, and commend the instructor's expertise and clear lectures. While it covers crucial aspects like the seller's viewpoint, private equity, and hostile takeovers, learners consistently note it requires a strong pre-existing finance and even M&A background, with some finding the pace very fast. Some also wished for more practical Excel application, noting it leans heavily on theory.
    Instructor's knowledge and clarity are highly regarded.
    "The instructor's expertise shines through."
    "The lectures were incredibly clear and well-structured."
    "I appreciated how the instructor covered a lot of ground and presented the content well."
    Case studies effectively link concepts to real-world applications.
    "The case studies were excellent for understanding real-world applications."
    "The case studies are a highlight, bringing the concepts to life."
    "I found the case studies very engaging."
    Delivers a comprehensive and advanced theoretical understanding.
    "This course provides a very solid theoretical foundation in M&A."
    "Very strong on the advanced theory of M&A."
    "A well-structured course that delivers on its promise of advanced theory."
    Course leans heavily on theory, with less hands-on Excel modeling.
    "I was hoping for more practical, step-by-step guidance on valuation models in Excel."
    "It felt a bit light on the Excel application, despite being mentioned, which was a minor drawback."
    "The actual application felt limited. I felt it leaned heavily on theory."
    Requires significant prior finance and M&A knowledge; moves quickly.
    "It's quite intensive and requires a good finance background."
    "I found it extremely difficult to follow; it jumped into complex topics very quickly."
    "Not suitable for someone trying to transition without significant prior M&A specific exposure."

    Career center

    Learners who complete Mergers and Acquisitions: Advanced Theory will develop knowledge and skills that may be useful to these careers:

    Reading list

    We've selected 50 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Mergers and Acquisitions: Advanced Theory.
    This comprehensive guide covers the full lifecycle of private equity, from fundraising and deal sourcing to value creation and exit strategies. It provides practical frameworks and case studies, making it highly relevant for both students and professionals seeking to deepen their understanding of the technical aspects and various strategies within private equity.
    Considered a classic in the field, this book provides a comprehensive guide to the entire M&A process, from strategy to integration. Its Q&A format makes it accessible for both reading cover-to-cover and using as a reference. It is highly recommended for its practical insights and real-world examples.
    Aswath Damodaran renowned expert in valuation, and this book definitive guide to valuation techniques applicable in investment and corporate finance, including M&A. It comprehensive and essential resource for anyone serious about understanding valuation in depth.
    Offers a comprehensive overview of M&A and corporate restructuring, providing historical context and analyzing strategies and motives. It covers legal aspects and different techniques, making it a strong foundation for understanding the field. It is often used as a textbook in academic settings.
    Widely used textbook and reference in investment banking and private equity, covering core concepts like valuation, LBOs, and M&A. It provides a strong technical foundation for understanding the analytical aspects of private equity deals. It's particularly useful for those in undergraduate and graduate programs.
    Provides an in-depth look at the history and evolution of private equity through the lens of one of its most prominent firms, Blackstone. It offers valuable insights into the strategies and dynamics of the industry, making it excellent for gaining a broad understanding and appreciating the historical context. It's a highly popular and well-regarded narrative account.
    While not exclusively about M&A, this book cornerstone resource for understanding valuation principles crucial in M&A transactions. Written by McKinsey experts, it provides a rigorous framework for valuing companies. It is an essential reference for anyone involved in the financial aspects of deals.
    Focused specifically on leveraged buyouts, a core strategy in private equity, this book provides a practical guide to the financial modeling and analysis involved. It's highly relevant for those interested in the technical aspects of LBO transactions and is often used as a reference for valuation and deal structuring.
    Written from the perspective of a CEO who has worked with private equity firms, this book offers practical insights into how management teams can effectively partner with PE investors. It's valuable for understanding the operational side of private equity and how value is created post-acquisition. The second edition offers updated perspectives.
    Focusing on the practical application of M&A concepts, this book delves into the reasons behind M&A success and failure. It provides rigorous analysis of deal development and is highly regarded by both academics and practitioners. It valuable resource for those seeking to understand the strategic and financial aspects of M&A.
    Through a series of case studies, this book provides a look inside private equity deal-making, sharing lessons from experienced practitioners. It covers a range of deal types and offers insights into the dynamics of investment, deal structuring, and operations.
    Focuses specifically on the financial analysis involved in M&A deals. It is highly relevant for understanding valuation, financial modeling, and the impact of M&A on financial statements. It is suitable for students and professionals with a strong finance background.
    Serves as an excellent introduction and practical guide to M&A, covering all key aspects from valuation and due diligence to legal documentation and integration. It includes case studies, checklists, and sample documents, making it a very useful reference tool for professionals and students alike.
    This comprehensive book explores why many M&A deals fail and provides strategies to avoid common pitfalls and maximize value creation. It covers the entire M&A process and useful reference manual for practitioners. It adds significant depth to understanding post-merger integration challenges.
    A classic narrative of a landmark leveraged buyout, this book offers a vivid account of the high-stakes deals and personalities that shaped the early days of private equity. While historical, it provides crucial context for understanding the origins and mechanics of LBOs. It's considered essential reading for anyone in finance.
    Delves into the critical process of operational due diligence in private equity. It provides practical tools and frameworks for evaluating the non-financial aspects of a target company, essential for risk management and value creation. This more specialized topic, suitable for those deepening their understanding of the deal process.
    Focusing on the critical aspect of post-merger integration, this book provides practical tools and best practices for successfully combining organizations. It is essential for understanding the challenges and strategies involved in realizing deal synergies. It complements books focused on deal initiation and negotiation.
    Provides a practical, step-by-step guide to the legal and practical aspects of M&A transactions. It valuable resource for understanding the legal framework, deal points, and practicalities at each stage of an M&A deal. It is suitable for a wide audience, including legal and business professionals.
    Complements 'Mastering Private Equity' by providing a collection of case studies that illustrate private equity concepts in real-world scenarios across different markets. It's excellent for solidifying understanding through practical examples and seeing how theoretical concepts are applied.
    Offers practical insights and strategies specifically for M&A in the middle market. It provides a step-by-step guide through the process, making it particularly useful for those involved in or looking to understand deals outside of large-cap transactions.
    Provides a legal and financial analysis of hostile takeovers, with a focus on the legal defenses that can be used to protect against them.
    Covers advanced techniques for data management in MS Excel. It explores data validation, data manipulation, text functions, and lookup functions. The author, Bill Jelen, is an Excel expert and provides practical tips and tricks for working with large and complex datasets.
    Offers a more contemporary look at the private equity industry, exploring its growth and impact on the global economy. It provides insights into the key players and trends shaping the industry today, making it relevant for understanding contemporary topics.
    Provides a practical approach to corporate valuation with the help of case studies. Valuation critical component of M&A, making this book a relevant resource for understanding how to assess the value of target companies.
    As the title suggests, this book is designed for those new to private equity. It breaks down key concepts in an accessible way and includes a career guide, making it an excellent starting point for high school and undergraduate students exploring the field.
    Provides a comprehensive academic perspective on venture capital and private equity, covering their role in financing entrepreneurship. It's suitable for advanced undergraduate and graduate students and delves into the dynamics and incentives driving the industry.
    Introduces an agile approach to the M&A process, focusing on efficiency and value maximization. It presents contemporary ideas on streamlining deals, making it relevant for understanding modern M&A practices. It is particularly useful for professionals seeking to optimize their M&A workflows.
    Offers a comprehensive overview of private equity as an asset class, covering fund structures, performance analysis, and the regulatory landscape. It's a solid resource for understanding the broader context of private equity within the financial markets and is suitable for those seeking a more academic perspective.
    Offers a detailed look at the history, governance structures, and operational aspects of private equity. It's suitable for those seeking a comprehensive understanding of how PE firms operate and govern their portfolio companies. It also delves into historical performance.
    Focuses on the crucial early stages of M&A, specifically negotiation and decision-making, with a unique emphasis on intercultural due diligence. It highlights the importance of cultural understanding in cross-border deals and provides valuable insights into this often-overlooked aspect.
    While a broader corporate finance textbook, this book contains essential chapters on M&A, valuation, and corporate restructuring that provide foundational knowledge for understanding M&A within the larger finance context. It is often used as a core textbook in undergraduate and graduate finance programs.
    For those interested in financial modeling, this book provides a practical guide to using MS Excel for financial analysis and planning. It covers topics such as budgeting, forecasting, and investment analysis, making it suitable for finance professionals and business students.
    Distills key strategies used by private equity firms for value creation and operational improvement that can be applied to any business. It's valuable for understanding the operational mindset of private equity and how they drive performance in portfolio companies.
    While focused on selling a business, this book is highly relevant to private equity as exits are a critical part of the PE investment cycle. It provides insights into the sale process and maximizing value, which is valuable for understanding the end game in private equity investments.
    Examines the sociological aspects of hostile takeovers, and how they can affect the social fabric of the community.
    For intermediate to advanced users, this book delves into advanced features and techniques of MS Excel. It covers topics such as data modeling, pivot tables, macros, and VBA, making it suitable for those looking to enhance their Excel skills for data analysis and automation.
    Offers step-by-step instructions and practical exercises for mastering MS Excel 2021. It covers a range of topics, from basic formulas and functions to data analysis and visualization, making it a useful resource for beginners and intermediate users.
    Offers a accessible introduction to the world of M&A, explaining the process step-by-step in a clear and concise manner. It is an excellent starting point for beginners and those who need a basic understanding without getting into excessive technical detail.
    Focuses on private equity and venture capital within the context of emerging markets. It explores the unique challenges and opportunities in these regions, providing a more specialized perspective on the global private equity landscape and contemporary trends.
    Offers insights into the operational aspects of managing a private equity fund, covering topics like compliance, risk management, and operational excellence. It's relevant for those interested in the inner workings of PE firms beyond just deal-making.
    Examines the history of hostile takeovers, and how they have evolved over time.
    While not exclusively about private equity, this classic text on value investing provides foundational principles that are highly relevant to the private equity approach of buying undervalued assets and improving their value. It's essential background reading for understanding the investment philosophy behind many private equity strategies.
    Offers a historical perspective on the M&A industry by highlighting the key figures who shaped it. While not a technical guide, it provides valuable context on the evolution of M&A and the strategies employed by prominent dealmakers. It is more for historical context and interest.
    Provides a comprehensive overview of financial management theory and practice, covering topics such as financial planning, capital budgeting, and risk management.

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