Module Code:MANG6403Assessment:Individual CourseworkWeighting:100%
Module Title:Equity Markets
Module Leader:Panayiotis Papakyriakou
Submission Due Date: @ 16:0017th May 2021Word Count:2000
Method of Submission:Electronic via Blackboard Turnitin ONLY (Please ensure that your name does not appear on any part of your work)
Any submitted after 16:00 on the deadline date will be subject to the standard University late penalties (see below), unless an extension has been granted, in writing by the Senior Tutor, in advance of the deadline. University Working Days Late: Mark: 1 (final agreed mark) * 0.9 2 (final agreed mark) * 0.8 3 (final agreed mark) * 0.7 4 (final agreed mark) * 0.6 5 (final agreed mark) * 0.5 More than 5 0
This assessment relates to the following module learning outcomes:   A. Knowledge and Understanding A1. The core areas of equity markets and equity finance. A2. The forms and motives of mergers, and the defensive tactics in hostile attempts. A3. The theoretical underpinning of asset allocation and portfolio management. A4. The supportive evidence and challenges to market efficiency. C. Transferable and Generic Skills C1. Numeracy skills developed through exercises. Analytical skills developed through case studies and an assignment.
Coursework Brief   For the purpose of this assignment you will have to conduct a case study analysis of a recent merger / takeover of your choice.   In particular, your analysis and report MUST CLEARLY include, among others, the following details:   Discuss the background and motivation of the merger deal.Explain the share price movements (of both the acquirer and target companies) around the announcement date of the bid. (Hint: you are advised to use graphs and other forms of evidence to enrich your analysis).How realistic are the bidder company’s claims to be able to generate greater shareholder value (greater return on capital) after the merger (i.e. ex-post-merger). Analyse the proposed funding (method of finance) of the bid by the bidder company. Analyse the defence tactics employed by the target company (if hostile). Analyse the possibility of successful completion of the deal (if the deal is not completed yet).M&A is critical part of active portfolio management. Acquisitions are an important way to strengthen existing businesses or expand into new ones. Discuss the outcome of this deal from the acquirer’s portfolio perspective.   Important information   You may choose any merger or takeover, from any country, provided it occurred (completed or announced) in the previous 3 years (i.e. in the period 2018 – 2020).It is recommended that you use the Zephyr database to find deals. Please see the next pages for detailed instructions. You can, of course, find a deal by other means.The merger does not have to be one that was successful. Failed merger or takeover bids are just as interesting to analyse as successful ones. Furthermore, you could choose a bid battle that is still ongoing (i.e. not completed). Read textbooks before you begin to write. Refer to other books and journal papers.Cite all papers and electronic sources you use and include a references list at the end of the document. Failing to do so might mean you could be accused of plagiarism.   Instructions for Zephyr database   METHOD I   Go to the following page:   Find the “Zephyr” database, and click:   Type “University of Southampton”, and “continue”   Once you are logged in, you can choose the following search option, and click “Go”.   You will see the following search box:      Choose “Latest completed deals” or “Latest announced deals” to find the deal you would like to analyse. Notice you need to choose a merger/acquisition deal, not issuance of equities, share repurchase, or other capital market events.   METHOD II   Alternatively, you can use the advanced search options (on home page). Before arriving to this step you need to follow steps 1-3 from Method I.       Where you can specify time period, geography (country), industry, and so on, to filter the deals. Once you have specified the criteria, click “view list of deals” at the bottom of page (right hand side).     METHOD III   If you choose to study UK or Irish firms, there are two additional databases that you can use to get company information: Morningstar and Fame.   Find them on this site:     Where to find news   Search in Google News:   Use “Nexis” database (you must be connected to the University network to access the database):Go to the “Nexis” database Example: search for news stories about “Precision Castparts acquisition by Berkshire Hathaway ”  
Nature of Assessment: This is a SUMMATIVE ASSESSMENT. See ‘Weighting’ section above for the percentage that this assignment counts towards your final module mark.   Word Limit: +/-10% either side of the word count (see above) is deemed to be acceptable. Any text that exceeds an additional 10% will not attract any marks. The relevant word count includes items such as cover page, executive summary, title page, table of contents, tables, figures, in-text citations and section headings, if used. The relevant word count excludes your list of references and any appendices at the end of your coursework submission.  You should always include the word count (from Microsoft Word, not Turnitin), at the end of your coursework submission, before your list of references.   Title/Cover Page: You must include a title/ cover page that includes: your Student ID, Module Code, Assignment Title, Word Count. This assignment will be marked anonymously, please ensure that your name does not appear on any part of your assignment.   References: You should use the Harvard style to reference your assignment. The library provide guidance on how to reference in the Harvard style and this is available from:   Submission Deadline: Please note that the submission deadline for Southampton Business School is 16.00 for ALL assessments.   Turnitin Submission: The assignment MUST be submitted electronically via Turnitin, which is accessed via the individual module on Blackboard. Further guidance on submitting assignments is available on the Blackboard support pages.   It is important that you allow enough time prior to the submission deadline to ensure your submission is processed on time as all late submissions are subject to a late penalty.  We would recommend you allow 30 minutes to upload your work and check the submission has been processed and is correct. Please make sure you submit to the correct assignment link.   You will know that your submission has completed successfully when you see a message stating ‘Congratulations – your submission is complete…’. It is vital that you make a note of your Submission ID (Digital Receipt Number). This is a unique receipt number for your submission, and is proof of successful submission. You may be required to provide this number at a later date.  We recommend that you take a screenshot of this page, or note the number down on a piece of paper.  You should also receive an email receipt containing this number, and the number can be found after submitting by following this guide.  This method of checking your submission is particularly useful in the event that you don’t receive an email receipt.   You are allowed to test submit your assignment via Turnitin before the due date. You can use Turnitin to check your assignment for plagiarism before you submit your final version. See “Viewing Your Originality Report” for guidance.  Please see the Module Leader/lecturer on your module if you would like advice on the Turnitin Originality report.   The last submission prior to the deadline will be treated as the final submission and will be the copy that is assessed by the marker.    It is your responsibility to ensure that the version received by the deadline is the final version, resubmissions after the deadline will not be accepted in any circumstances.   Important: If you have any problems during the submission process you should contact ServiceLine immediately by email at or by phone on +44 (0)23 8059 5656.   Late Penalties: Further information on penalties for work submitted after the deadline can be found here.   Special Considerations: If you believe that illness or other circumstances have adversely affected your academic performance, information regarding the regulations governing Special Considerations can be accessed via the Calendar:   Extension Requests: : Extension requests along with supporting evidence should be submitted to the Student Office as soon as possible before the submission date. Information regarding the regulations governing extension requests can be accessed via the Calendar:   Academic Integrity Policy: Please note that you can access Academic Integrity Guidance for Students via the Quality Handbook:  Please note any suspected cases of Academic Integrity will be notified to the Academic Integrity Officer for investigation.   Feedback: Southampton Business School is committed to providing feedback within 4 weeks (University working days).  Once the marks are released and you have received your feedback, you can meet with your Module Leader / Module Lecturer / Personal Academic Tutor to discuss the feedback within 4 weeks from the release of marks date. Any additional arrangements for feedback are listed in the Module Profile.   Student Support: Study skills and language support for Southampton Business School students is available at:  
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