This course uses an analytical framework and real-world applications to introduce the key principles and techniques of successful mergers and acquisitions (M&A), divestitures, and leveraged buyouts.  It addresses crucial questions including: Why do mergers that looked great on paper fail in reality?  How does one value companies acquiring, or being acquired?  What is the best negotiation strategy?  What does it take to make the "synergy" come to life?  How can a merger be funded in such a way as to retain the merged entity's flexibility?  When do leveraged buy-outs make sense, and how can they be financed?  What are divestitures, spin-offs and equity carve-outs?  When can joint ventures and alliances be viable alternatives to M&A?  Students will be asked to solve both quantitative and qualitative problems and to analyze both publicly traded and privately-owned companies.