INVESTMENT BANKING
FIN 4018
Unit 3: Tutorial Questions – Mergers & Acquisitions
1. Provide definitions for strategic buyers and financial buyers in a prospective M&A
transaction.
2. Why have strategic buyers traditionally been able to outbid financial buyers in auctions?
3. Why are revenue synergies typically given less weight than cost synergies when
evaluating the combination benefits of a transaction?
4. In the United States, if an M&A transaction is relatively large within its industry, what is
the name of the regulatory filing that is probably necessary before the transaction can be
consummated? Which agency is it filed with? How long is the waiting period after a filing is
made? What is the name of the European regulator that may be relevant in an M&A
transaction?
