Monash University

Leader: Mr Bruce Dyer / Mr Michael Hoyle

Offered

Not offered in 2008

Synopsis

* The desirability of takeovers and the need for regulation.

• The general scheme of regulation in Australia.
• The principal means of effecting takeovers
• Defensive strategies and tactics.
• Compulsory acquisition.
• The regulatory structure, including the respective roles and powers of the Australian Securities and Investments Commission, the Takeovers Panel, the Australian Competition and Consumer Commission and the Australian Securities Exchange.
• The means by which regulatory decisions may be challenged.

Objectives

Students who successfully complete this unit should:

• Be able to analyse the circumstances of a potential

offer for a proposed target company and provide

advice as to (a) the principal means by which a

takeover may be effected (and the advantages and

limitations of each alternative), (b) how to prepare for

and conduct the takeover, and (c) the defensive

strategies and tactics available to the target company

to oppose the takeover

• Be familiar with the structure of regulation of takeovers

in Australia including the respective roles and principal

powers of the Australian Securities and Investments

Commission, the Australian Securities Exchange, the

Takeovers Panel and the Australian Competition and

Consumer Commission, and the extent to which the

decisions of these bodies are subject to appeal or

review

• Be able to analyse and examine critically arguments

concerning the desirability and effects of takeovers

and the regulation of takeovers

• Find that both their research skills, and their ability to

construe and apply a complex statutory scheme, are

enhanced

Assessment

Research paper (3,750 words): 50%

Take home examination (3,750 words): 50%

Contact hours

Semi-intensive

Prerequisites

LAW4171 Corporations Law or LAW7277 Advanced Corporations Law or equivalent