FM407      Half Unit
Mergers, Buyouts and Corporate Restructurings

This information is for the 2016/17 session.

Teacher responsible

Dr Vicente Cuñat


This course is available on the MSc in Finance (full-time), MSc in Finance and Economics, MSc in Finance and Economics (Research) and MSc in Finance and Private Equity. This course is not available as an outside option.


Students must have completed Asset Markets (FM423) and Corporate Finance (FM422).

Course content

  • Financial Valuation of Firms and Corporate Transactions
  • Mergers, Acquisitions and Leveraged Buyouts
  • Distress, Bankruptcy and Corporate Restructuring

This course covers advanced topics in Corporate Finance and Valuation and introduces students to valuation techniques for both securities and projects. The first part of the course introduces students to several advanced valuation techniques applied to firms and projects. The second part of the course focuses on particular deals that involve firm valuation, in particular, mergers, divestitures, partial-divestitures (e.g. equity care outs) and leveraged buyouts. The last part of the course provides with a framework of analysis for the resolution of financial distress and bankruptcy. Each of the topics introduced in this course covers both institutional details and results of relevant academic research. It is furthermore supported by case studies and practitioner talks.


30 hours of lectures in the LT

Formative coursework

Regular classworks will be completed, handed in and marked as part of formative assessment for this course.

Indicative reading

A course pack will be distributed that includes case studies as well as additional readings such as textbook chapters, and practitioner articles.


Exam (70%, duration: 2 hours) in the main exam period.
Project (30%) in the LT.

Key facts

Department: Finance

Total students 2015/16: 94

Average class size 2015/16: 34

Controlled access 2015/16: Yes

Value: Half Unit

Guidelines for interpreting course guide information

Personal development skills

  • Team working
  • Problem solving
  • Communication
  • Application of numeracy skills
  • Commercial awareness
  • Specialist skills