Course Information
SemesterCourse Unit CodeCourse Unit TitleT+P+LCreditNumber of ECTS Credits
6LAW 324Mergers and Acquisitions3+0+035

Course Details
Language of Instruction English
Level of Course Unit Bachelor's Degree
Department / Program BA Program in Law (%30 English)
Type of Program Formal Education
Type of Course Unit Elective
Course Delivery Method Online
Objectives of the Course The aim of this course is to enable students to learn the legal and practical aspects of mergers, divisions and acquisitions of commercial enterprises and commercial companies.
Course Content In this course, in accordance with Article 11/3 of the Turkish Commercial Code and Article 202 of the Turkish Code of Obligations, the basic concepts of contract law, corporate law, capital markets law and competition law as they relate to the transfer of a commercial enterprise and mergers, acquisitions and divisions of companies within the scope of Article 134 et seq. of the Turkish Commercial Code regarding company restructurings; the functioning of the capital markets authority and the competition authority in relation to company mergers and acquisitions will be examined.
Course Methods and Techniques Active Learning and Digital Learning Tools with Discussion, Case Studies
Prerequisites and co-requisities None
Course Coordinator Prof.Dr. Şükrü Yıldız sukru.yildiz@ihu.edu.tr
Name of Lecturers Associate Prof.Dr. BARIŞ KAYA
Assistants None
Work Placement(s) No

Recommended or Required Reading
Resources Esin I., Birleşme ve Devralmalar, 5. Baskı, On İki Levha, 2022.
Güven P., Türk Rekabet Hukuku ve Avrupa Birliği Rekabet Hukukunda Birleşme ve Devralmaların Denetlenmesi, Yetkin, 2003.
Boyraz M. R., Birleşme ve Devralmaların Denetlenmesi: Taahhüt ve Şartlı İzin, Seçkin, 2022.
1. Introduction - The M&A phenomenon
• Christensen, Clayton M., Richard Alton, Curtis Rising, and Andrew Waldeck. “The New M&A Playbook.” Harvard Business Review 89, no. 3 (March 2011): 48–57.
• Bower, J. L. “Not All M&As Are Alike - and That Matters.” Harvard Business Review 79, no. 3 (March 2001): 92–101.
2. M&A strategy & Alternative governance modes
• Dyer, Jeffrey H., Prashant Kale, and Harbir Singh. “When to Ally & When to Acquire.” Harvard Business Review 82, no. 7/8 (August 2004): 108–15.
• Capron, Laurence and Will Mitchell. ”Finding the right path.” Harvard Business Review (July-August 2010): 102-107.
3. The M&A process - overview
• DePamphilis, Donald. 2014. Mergers, Acquisitions, and Other Restructuring Activities. 7th Edition. Elsevier: Chapter 5.
4. M&A process: Target valuation and due diligence
• Eccles, Robert G., Kersten L. Lanes, and Thomas C. Wilson. “Are You Paying Too Much for That Acquisition?” Harvard Business Review 77, no. 4 (August 7, 1999): 136–46.
• Harding, David, and Ted Rouse. “Human Due Diligence.” Harvard Business Review 85, no. 4 (April 2007): 124–31.
5. M&A process: Postmerger Integration – Structures, systems, and processes
• Vestring, Till, Ted Rouse, and Sam Rovit. “Integrate Where It Matters.” MIT Sloan Management Review 46, no. 1 (Fall 2004): 15–18.
• Kale, Prashant, Harbir Singh, and Anand P. Raman. “Don’t Integrate Your Acquisitions, Partner with Them.” Harvard Business Review 87, no. 12 (December 2009): 109–15.
6. M&A process: Postmerger Integration – People and culture
• Weber, Yaakov, Shlomo Tarba, and Christina Öberg. 2014. ”A comprehensive guide to mergers and acquisitions”, Pearson, Chapter 11.
• Bouchikhi, H., Kimberly, J.R., 2012. “Making Mergers Work.” MIT Sloan Management Review 54, 63–70.
7. Sell-side perspective on M&A
• Dranikoff, Lee, Tim Koller, and Antoon Schneider. “Divestiture: Strategy’s Missing Link.” Harvard Business Review 80, no. 5 (May 2002): 74–83.
• Mankins, M.C., Harding, D., Weddigen, R.-M., 2008. “How the Best Divest.” Harvard Business Review 86, 92–99.
8. Specific M&A deals: Family firm acquisitions & Acquisition of technology-based firms
• Kachaner, Nicolas, Jr George Stalk, and Alain Bloch. “What You Can Learn from Family Business.” Harvard Business Review, November 1, 2012.
• Melissa E. Graebner, Kathleen Eisenhardt, and Philip Roundy. 2010. Success and Failure in Technology Acquisitions: Lessons for Buyers and Sellers. Academy of Management Perspectives 24(3), 73-92.
9. Specific M&A deals: International acquisitions & Consolidating mergers

• Sebenius, James K. 1998. “Negotiating Cross-Border Acquisitions.” Sloan Management Review 39 (2): 27–41.
• Ghemawat, P., Ghadar, F., 2000. “The Dubious Logic of Global Megamergers.” Harvard Business Review 78, 65–72.
10. M&A Performance Measurement, Acquisition programs, acquisition capabilities and competitive dynamics
• Zollo, Maurizio, and Degenhard Meier. “What Is M&A Performance?” The Academy of Management Perspectives 22, no. 3 (2008): 55–77.
• Keil, Thomas and Tomi Laamanen "When Rivals Merge, Think Before You Follow Suit.” Harvard Business Review (December 2011): 25-27

Course Category
Mathematics and Basic Sciences %0
Engineering %0
Engineering Design %0
Social Sciences %100
Education %0
Science %0
Health %0
Field %100

Planned Learning Activities and Teaching Methods
Activities are given in detail in the section of "Assessment Methods and Criteria" and "Workload Calculation"

Assessment Methods and Criteria
In-Term Studies Quantity Percentage
Mid-terms 1 % 30
Attendance 1 % 20
Final examination 1 % 50
Total
3
% 100

 
ECTS Allocated Based on Student Workload
Activities Quantity Duration Total Work Load
Course Duration 14 3 42
Hours for off-the-c.r.stud 14 3 42
Mid-terms 1 26 26
Final examination 1 40 40
Total Work Load   Number of ECTS Credits 5 150

Course Learning Outcomes: Upon the successful completion of this course, students will be able to:
NoLearning Outcomes
1 The student classifies and analyzes the basic concepts of contract law, corporate law, capital markets law and competition law related to mergers, acquisitions and divisions.
2 Recognizes capital market institutions and competition institutions and solve problems related to implementation.
3 The student uses the legal mechanisms related to mergers and acquisitions and spin-offs.
4 Commands the processes of mergers and acquisitions and spin-offs.


Weekly Detailed Course Contents
WeekTopicsStudy MaterialsMaterials
1 Introduction to Mergers, Acquisitions and spin-offs and Basic Concepts Related to the Subject Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 1
2 Competition Authority and Capital Markets Board, Permits Required Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 2
4 Investigation Phase, "Due Diligence", Purpose and Application Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 5
5 Legal, Financial and Operational Review and Offer Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 5
6 Negotiation Phase, Share Purchase Agreement, Delaying and Disruptive Conditions Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 5
7 Practice Lesson an Short Exam
8 Declarations and Commitments of the Parties and the Consequences of Breach Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 5
9 CMB Authorizations Regarding Amendments to the Articles of Association Reading the relevant section from one of the textbooks. Bernd. D. Ehle, ‘Arbitration as a Dispute Resolution Mechanism in Mergers and Acquisitions’ (2005) 27 Comparative Law Yearbook of International Business, 287-309
10 Share Subscription Agreement, Capital Increase Procedures in Turkish Law, Capital Increase Procedures in Non-Public Joint Stock Companies and Joint Stock Companies Adopting Registered Capital System Reading the relevant section from one of the textbooks. Esin I., Birleşme ve Devralmalar, 5. Baskı, On İki Levha, 2022, s. 229-237.
11 Shareholders' Agreement and its Relationship with the Articles of Association Reading the relevant section from one of the textbooks. Esin I., Birleşme ve Devralmalar, 5. Baskı, On İki Levha, 2022, s. 151-229
12 Applicable Law and Dispute Resolution Procedures Reading the relevant section from one of the textbooks. Bernd. D. Ehle, ‘Arbitration as a Dispute Resolution Mechanism in Mergers and Acquisitions’ (2005) 27 Comparative Law Yearbook of International Business, 287-309
13 Guarantees and Option Contracts Reading the relevant section from one of the textbooks. William K. Sjostrom, Jr., Mergers And Acquisitions Law, Carolina Academic Press, 2014, Ch. 5
14 General Practice Lesson


Contribution of Learning Outcomes to Programme Outcomes
P1 P2 P3 P4 P5 P6 P7 P8 P9 P10 P11 P12 P13 P14 P15 P16 P17
All 5 5 5 4 5 3 5 5 5 3 5 5 4 3 2 4 5
C1 5 5 5 4 5
C2 5 5 5 4 4
C3 5 5 5 4 5
C4 5 4 5 4 5

Contribution: 1: Very Slight 2:Slight 3:Moderate 4:Significant 5:Very Significant


https://obs.ihu.edu.tr/oibs/bologna/progCourseDetails.aspx?curCourse=209733&lang=en