This module focuses on mergers and acquisitions (M&A) in modern financial markets. It begins with an overview of markets for corporate control and recent developments in M&A activity. Based on the strategic rationale of transactions, students learn the foundations of deal processes and financing structures. A central aspect of the course is deal pricing, with a strong emphasis on company valuation as a key analytical tool. Students are introduced to core concepts, including corporate governance, the market for corporate control, due diligence, pre-merger integration, hostile takeovers and defense mechanisms, deal financing, and different forms of corporate restructuring, such as spin-offs, carve-outs, joint ventures, and divestitures.
- Value firms engaged in M&A
- Plan and structure M&A processes
- Explain why companies engage in M&A transactions
- Analyze how hostile takeovers work and how companies can defend against them
- Analyze the characteristics of different kinds of M&A deals: mergers, acquisitions, spin-offs, divestitures, carve-outs, leveraged buyouts, etc.
This course is part of the prestigious part-time Master in Finance program, conducted in English on Fridays and Saturdays on Campus Westend. It offers a valuable opportunity to network and gain expertise without committing to a full degree program. Upon completion, participants receive a Certificate of Participation. As the number of seats is limited, we recommend to register early. If you're a GBS or Goethe University alum, explore our attractive alumni discount options.
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Next course offering: Summer Semester 2027. New dates will be announced soon.
Assoc. Prof. Dr. Carsten Bienz
Assoc. Prof. Dr. Carsten Bienz joined the Norwegian School of Economics in 2006. He became a tenured Associate Professor in 2009. Carsten holds a Diploma in Economics from Eberhardt Karls University Tübingen and a doctorate in Finance from Goethe University Frankfurt. Prior to coming to NHH, he spent a year as a post-doc at the London School of Economics from 2005 to 2006. His research focuses on Private Equity, Venture Capital, Fixed Income, Financial Contracting, and Compensation in the Finance Industry.
Candidates with an undergraduate degree (i.e., bachelor or equivalent) of 180 credit points (CP) based on the European Credit Transfer System (ECTS) can apply for our Open Programs. The allocation of credit points for work experience will appear on the Academic Transcript of Records and be titled ‘Prior Learning Assessment’.
Open Program applicants must submit a recent proof of English language proficiency at the higher B2 level per the Common European Framework of Reference (CEFR). The GBS Office of Admissions will accept test results of the following tests, taken no longer than two years ago upon the date of submission:
- TOEFL iBT®
- TOEFL iBT® Home Edition
- IELTS
- Cambridge Certificate of Proficiency in English
- English Language Level Test (ELLT) - Oxford International Digital Institute
Applicants may request a waiver of proof of proficiency in English in case one of the following conditions applies. The applicant
- is a native speaker of English;
- has graduated from an international baccalaureate program
- has completed their undergraduate or master-level studies in a program taught entirely in English;
- has worked in an English-speaking country for at least one year.
If the applicant has not taken any of the above tests when submitting the application, the applicant can upload a confirmation of the test registration to the online admissions portal.
Applicants who submit a language certificate older than two years but without an expiry date will be invited for an additional interview with a native speaker of English.
Proof of relevant post-undergraduate work experience of at least one year is to be submitted, e.g., a performance review, reference letter, or written confirmation from your employer.