Mergers and acquasitions | mergers and acquasitions


TACC613 Mergers and Acquisitions 

Autumn 2021 


Individual Assignment Guidelines 

For this assignment, you should analyse the merger between A P Eagers (ASX: APE) and Automotive Holding Group Ltd (ASX: AHG) in 2019. 

You should analyse the deal based on the information available at the time of the deal announcement. 

The assignment write-up should be about 1000 words (up to 2 pages long). You can add two more page of appendix of tables and graphs 

 You have to make your own graphs and tables — you should not copy graphs and tables from other sources). 

You should include a list of references: this will not count towards the page limit. Your write-up should address the following points: 

  •   Overview of acquirers’ (A P Eagers) industry and its business and discussion of acquirer’s business plan/strategy and its merger strategy (about one page)
  •   The analysis should be based mainly on lecture 2 and include the following elements:

o Industry analysis: Porter’s five forces and industry trends and developments applied to the 

 Given the page limit, only the most important/relevant factors should be highlighted. 

  •   Discuss one or two of Porter’s five forces.
  •   Discuss one of two industry trends

o Company analysis: Analysis of the company’s financial performance
o Discuss how the current merger relate to the company’s business plan and strategy. 

  •   Deal Rationale (about one page)
  •   Justify or criticise the deal concept and explain the logic (or lack thereof) of the deal.

o Using tools and concepts from lecture 1 (and the three slides on synergy in lecture 3), describe the motivations and the rationale for the deal. 

 What are the sources of synergy and value creation? Be specific and detailed.  What other objectives/reasons are behind the deal?
 Are there bad reasons for the deal? 

o Was the deal reasonably priced and correctly timed? 1 


Autumn 2021 TACC613 Mergers and Acquisitions 


Do a comparable company valuation of the target (Automotive Holding Group) — see Lecture 4, slides 39 & 40 for how to conduct this analysis. 

o Trytolinkthedealrationalewiththeindustry/companyanalysesabove. 

  •   How does the current deal fit with your analysis of acquirer’s business plan — i.e., is
    this deal a good ‘strategic fit’ for the acquirer?
  •   Does the deal make sense in a long-term or ‘strategic’ sense?

 The bullet-points above are given as a guide to organise your write-up.
o You do not need to address all the bullet points, and you may want to use other 

concepts/frameworks from lectures 1 & 2, including the annex slides, in your write-up.
 Please be aware that all factors are not equally important in all deals, so you should vary the emphases 

on different points as appropriate.
o Try to think what is the strategic challenge facing the industry and the firm, and what are the 

major reason(s) for this particular deal.
o Then organise your write-up so the analyses support your conclusions on these issues. 

 Your write-up should be based on thorough research. You should use all of the following sources to gather the necessary background information: 

o Bidder and target’s annual reports, bidder’s statement and target’s statement (or scheme booklet, for Scheme deals) — these are available from ASX: 

o You should also consult other ASX announcements of the bidder and the target around the proposal of the deal. 

o Industryreports,e.g.,IBISWorldindustryreport
o News articles about the industry and mergers in the industry and about the bidder and the 

target. You can use google search to find relevant articles. 

Assessment Criteria: 

  •   The following criteria will be used to assess the assignment:
    1. Quality of your analysis and the soundness of your arguments and logic as evidenced by your ability to analyse and discuss the factors driving the acquisition decision (the deal rationale).
    2. Ability to apply the theories and concepts introduced in the lectures to analyse the deal rationale.
    3. Clarity of writing and quality of presentation.
  •   Some additional guidelines:

o You should support your arguments and claims with evidence.
o Your analyses should build up to a conclusion, and should not be just a series of unconnected 

observations and statements.
o You should not include information that is not relevant for your arguments and conclusions. o The language of the report should be clear, concise, coherent and grammatically correct. 


Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
The price is based on these factors:
Academic level
Number of pages
Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

Delivering a high-quality product at a reasonable price is not enough anymore.
That’s why we have developed 5 beneficial guarantees that will make your experience with our service enjoyable, easy, and safe.

Money-back guarantee

You have to be 100% sure of the quality of your product to give a money-back guarantee. This describes us perfectly. Make sure that this guarantee is totally transparent.

Read more

Zero-plagiarism guarantee

Each paper is composed from scratch, according to your instructions. It is then checked by our plagiarism-detection software. There is no gap where plagiarism could squeeze in.

Read more

Free-revision policy

Thanks to our free revisions, there is no way for you to be unsatisfied. We will work on your paper until you are completely happy with the result.

Read more

Privacy policy

Your email is safe, as we store it according to international data protection rules. Your bank details are secure, as we use only reliable payment systems.

Read more

Fair-cooperation guarantee

By sending us your money, you buy the service we provide. Check out our terms and conditions if you prefer business talks to be laid out in official language.

Read more