LAL BAHADUR SHASTRI INSTITUTE OF MANAGEMENT,DELHI

Two Year Full-Time Pos Gra!uae Di"loma i# Ma#a$eme# %Ge#& a#! Fi#'
Trimeser (I)
*ourse *o!e+ ,,-.,- *ourse + Mer$ers, A/0uisiio#s a#! *or"orae Resru/uri#$
A/a!emi/ Sessio#+ ,1.2-.- Fa/ul3 + Pro4& Prem Si55al
Lear#i#$ O56e/i7es+
Equipping the students to understand the rationale for the process of Mergers,
Acquisitions, Corporate Restructuring and other techniques
Restructuring , Mergers and Acquisitions and other Techniques.
Due Diligence and evaluation of target firms,
Cross Border acquisitions
Valuation of companies, methods of paments and financing in M ! A.
"ost#merger integration including $R issues in cultural integration.
%egal processes in M ! A , &EB' regulator requirements, Ta( and accounting aspects.
Sessio# Pla#
Module &ession Topic
). )#* I#ro!u/io# ( Raio#ale 4or M 8 A
+rame,or- for Mergers ! Acquisitions,
Ma.or tpes of Mergers and Acquisitions/
Motives and .ustification for mergers ! acquisitions/
Concept of &nerg,# Various tpes of snergies.
Approaches to formulating strateg/
M!A as a 0ro,th strateg 1 BC0 Matri(, Ansoff Matri(
"orter Approach/ "roduct life ccle approach
Due diligence of target firms
Rea!i#$s+
Mergers, Restructuring and Corporate Control, "$'
2.+red 3eston, 4,ang &. Chung and &usan E $oag5 "art#'', ".67#89
"rasad 0. 0od:ole 5''MA;. Mergers, Acquisitions and Corporate
Restructuring, Vi-as "u:lishing, 9<<=/ 5".* to 8;

*ASE +
Mer$er o4 Relia#/e Peroleum 9i: Relia#/e I#!usries L!&

9. >#6
)alue *reaio# 53 resru/uri#$
# Restructuring &trategies/ Tpes of Restructuring,
&pin off, &plit up, &plit off, Demerger, Divesture
# &trategic Alliance, 2oint Ventures/
Rea!i#$s+
"rasad 0. 0od:ole 5''MA;. Mergers, Acquisitions and Corporate
Restructuring, Vi-as "u:lishing, 9<<=/ 5 ".= to *9;
2.+red 3eston. Mergers, Restructuring and Corporate Control,
". 67#89, )=<#to 99*.
*ase Su!3 +
Demer$er o4 Ulrae/: 53 L 8 T a#! is a/0uisiio# 53 GRASIM
%A *ase Su!3 o# *or"orae Resru/uri#$'

*. 7#? E;e/ui#$ Resru/uri#$ Pro/ess +
Management Buout 5MB@;, %everaged Buout 5%B@;,
Cross# Border M ! A/
Reverse Merger, spin#offs, &plit#up, split off.
+riendl and $ostile Mergers.
&trategies and tactics in M ! A.
Defenses against hostile ta-e over.
Rea!i#$s+
Mergers, Acquisitions and restructuring, "rasad 0.0od:ole5''MA; Ch.6,
68#78
Donald M De"amphilis Mergers, Acquisitions and other restructuring
Activities, Ch. )?, 5 7>=#78<;
*ase Su!3 +
Mer$er o4 I*I*I wi: I*I*I Ba#< %Re7erse Mer$er'
>. 8#)) )aluaio# o4 4irms+
Corporate Valuation.
Approaches to Valuation and different methods of Valuation
Aet Assets Valuation Method, Boo- Value, Mar-et Value,
Replacement Value. Compara:le Approach,
Accounting Approach, Earnings Approach, 'ntrinsic Approach ,
Capital Budgeting Approach, +ree Cash +lo, to the +irm,
Economic Value Added approach, Mar-et Value Added to the firm.
E(change Ratio, Methods of "ament for M ! A 1+unding @ptions.
Valuation "ro:lems, E&@"s.
Pra/i/al E;er/ises a#! Pro5lems i# )aluaio#&
*ase Su!3 B
A/0uisiio# o4 *orus 53 Taa Seel % A *ase o# *ross Bor!er
a/0uisiio# a#! Fu#!i#$ O"io#s 4or a# a/0uisiio#'
6 )9#)> Compliance ,ith %egal requirementsB
%egal "rocesses in M !A/ &EB' Ta-eover code and regulator
guidelines/ Competition Act #9<<9.
Rea!i#$s+
"rasad, 0. 0od:ole ,''MA,Mergers, Acquisitions and Corporate
Restructuring, , Vi-as "u:lishing. Ch ? to )<
*ase Su!3 B
Mer$er o4 Po#!s I#!ia L! wi: Hi#!usa# Le7er L!& % A *ase o#
Le$al Pro/esses i# M 8A '
7. )6#)7 A//ou#i#$ a#! Ta; Im"li/aio#s+ Accounting aspects in Mergers !
Acquisitions/ Ta( implications in M ! A.
Rea!i#$s+
"rasad, 0. 0od:ole ,''MA,Mergers, Acquisitions and Corporate
Restructuring, , Vi-as "u:lishing. Ch. )9 and Ch )*, ". )?6#9<>
E;er/ises i# Ta; a#! A//ou#i#$ as"e/s
?. )?#)8 Ris< 4a/ors i# M 8 A
Fa/ors 4or su//ess a#! 4ailures i# M 8 A
Pos-mer$er a#! /:a#$e ma#a$eme#B
"ost#merger integration according to tpe of merger.
$uman aspects, implications of organiCational and cultural changes in
M ! A.
Role of M ! A teams in integration in M ! A.
Rea!i#$s+
"art#'', Ch. 7 5 ". 9<6#9*);
*ase Su!3 (
Mer$er o4 I#!ia# Airli#es wi: Air I#!ia = >e3 Issues i# Due
Dili$e#/e a#! I#e$raio# ( Lesso#s Lear#&?

8.
)=#9< Grou" Prese#aio# a#! E7aluaio#
Suggested Readings
Compulsory:
DMergers, Restructuring ! Corporate ControlE : 2. +red 3eston, 4,ang &. Chung and
&usan E. $oag 5"rentice $all 'ndia;
DTa-eovers, Restructuring and Corporate 0overnanceE : 2. +red 3eston, 4,ang &.
Chung and 2uan A. &iu 5"rentice $all;
Valuation : As,adh Damodaran 52ohn 3ile;
+inancial Management- MF 4han and "4 2ain Tata Mcgra, $ill.Mergers, Acquisitions
and Ta-eovers# $.R. Machira.u, Ae, Age 'nternational 5"; %td.
Mergers, Acquisitions and Corporate Restructuring : "rasad g. 0od:ole#Vi-as "u:lishing
$ouse 5"; %td.
Corporate Restructuring#Enhancing &hareholder Value 1Ran.an Das and Gdan 4umar
Bose# Tata Mcgra, $ill .
Mergers ,Acquisitions and other Restructuring Activities# Donald M. De"amphilis#9<)<
B Elsevier 'nc.
ReferencesB
DMergers et.alE 'ssues ,'mplications and Case %a,s : &.Ramana.um 5Tata Mc0ro, $ill;
DMergers ! Acquisitions of CompaniesE : ". Mohan Rao 5Deep ! Deep;
DReadings in Mergers ! AcquisitionsE : "atric- Vaughan 5Blac-,ell;
DCorporate +inanceB Theor ! "racticeE : As,ath Damodaran 5 2ohn 3ile;
DE(ploring Corporate &trategE : 0arr 2ohnson ! 4evan &choles 5"rentice $all 'ndia;
Cart,right, &ue and Car %. Cooper 5)==7;, Managing Mergers, Acquisitions and
&trategic AlliancesB 'ntegrating "eople and Cultures,Butter,orth# $einemann %td., &econd
edition.
Bec-le, "eter 2 and "erveC A 0hauri 59<<9;, 'nternational Mergers and Acquisitions# A
Reader, Thomson.
Case &tudies on Mergers and Acquisitions 59<<>;, 'C+A' Center for
Management Research.
Advanced Corporate +inance 1Chandrase-har 4rishnamurti and &. Vish,anathan "$'
%earning5"; %td.
Mergers and Acquisitions from A to H 1Andre, 2 &herman and Milledge A $art.
Valuation#Measuring and Managing the Value of Compan Mc-inse and Co, Tom
Copeland ,Tim 4oller.
%a, and "ractice of Mergers and acquisitions 2aant M Tha-ur &no, ,hite "u:lishers
Corporate Mergers, Amalgamations and Ta-eovers#2.C.Verma 1Bharat "u:lishing $ouse
Evaluation Parameters
Gnannounced Tests and quiCCes 9< mar-s
"articipation <6 mar-s
'ndividual assignments )< mar-s
0roup assignments and presentation )6 mar-s
End term e(amination 6< mar-s
Pe!a$o$3
The teaching methodolog is a .udicious :lend of lectures, real life situation analsis, case
discussions and presentation : students of their pro.ect ,or- and field stud.
Sel4 Su!3 a#! E7aluaio# 4or Grou" Prese#aio# +
). Case &tud B Acquisition of Hain %td. : Bharti Airtel %td.
9. Case &tud B Acquisition of Aovelis : $indalco %td.
*. Case &tud B Acquisition of Ran:a( : Daiichi &an-o.
>. Case &tud B Acquisition of $utchison Essar B Vodafone.
6. Case &tud B Acquisition of &ahara Airlines : 2et Air,as.
7.. Case &tud B Acquisition of 2agaur %and Rover : Tata Motors %td.
?.. Case &tud B Acquisition of Arcelor &teel : Mittal &teel %td..
8. Case &tud B Acquisition of &atam %td. : Mahendra and Mahendra.