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所在平台: Coursera |
课程主页: https://www.coursera.org/learn/mergers-acquisitions-valuation-pricing
课程评论：没有评论
课程名称：并购融资：估值与定价 课程概述：本课程教授如何对并购交易进行估值和定价，并选择最佳融资组合。重点涵盖各种主要类型的并购交易，包括战略并购、私募股权杠杆收购（LBO）及重组交易，如分拆和资产转让。 课程大纲： 1. **课程导论与模块1：并购主题与证据概述** - 学习并购的基本术语，了解并购产生的原因及识别价值提升的驱动因素，研究并购历史及以往并购潮的关键事实。 2. **模块2：公司估值** - 探讨决定公司股价的因素。重点学习评估股价的主要方法，包括贴现现金流估值和基于倍数的估值，结合最新的金融理论和实际案例。 3. **模块3：目标和收购方估值在并购中的作用** - 了解投资银行在并购交易中进行估值分析的重要性，强调目标和收购方的估值，并探讨非公开交易目标估值的特殊性，以及如何有效使用交易倍数进行并购交易估值。 4. **模块4：协同效应与敌意收购** - 学习如何基于管理层提供的现金流预测和市场对新并购交易的反应来对协同效应进行估值。探讨协同效应与目标溢价的关系，计算交易的净现值（NPV），以及敌意收购交易的治理、法律和估值问题。 5. **课程结论** - 对课程进行总结，强化所学知识的应用和理解。
Name:Course Orientation and Module 1: Overview of M&A Topics and Evidence
Description:You will learn the basic terminology of M&A, which we will use throughout the course. You will also learn why M&A deals happen, and how to identify drivers of M&A that are truly value-enhancing. Finally, you will study the history of M&A and learn key facts about previous M&A waves.
Name:Module 2: Company Valuation
Description:What determines a company’s stock price? Placing a value on companies is a key tool for M&A analysis. This module focuses on the main methods available to estimate stock prices, including discounted cash flow valuation and multiples-based valuation. You will learn these tools using the most up-to-date Finance theory and real-world examples.
Name:Module 3: The Role of Target and Acquirer Valuation in M&A
Description:Valuation analysis is a major part of the work that investment banks do when advising companies involved in M&A deals. You will learn that both target and acquirer valuation matter, and why. This module also focuses on what is special about the valuation and pricing of non-publicly traded targets. Finally, you will learn how to best use transaction multiples in the valuation of M&A deals.
Name:Module 4: Synergies and Hostile Takeovers
Description:This module starts with how to place a value on synergies using cash flow forecasts provided by management, and also using the stock market reaction to a new M&A deal. Next, you will also learn how to relate synergies to the premium paid for targets and how to calculate the net present value (NPV) of a deal. You will also learn the specifics of hostile takeover deals with a focus on governance, legal, and valuation issues.
Name:Course Conclusion
Description:
This course teaches how to value and price M&A deals and to choose the optimal financing mix for an M&A deal. The course focuses on all the major types of M&A deals including strategic M&A, private equity leveraged buyouts (LBOs), and restructuring deals such as spinoffs and asset transfers.
