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Company Takeovers (LAWS70042)

Graduate coursework level 7Points: 12.5On Campus (Parkville)

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Overview

Year of offer2019
Subject levelGraduate coursework Level 7
Subject codeLAWS70042
Campus
Parkville
Availability(Quotas apply)
September
FeesSubject EFTSL, Level, Discipline & Census Date

Company takeovers are an integral part of stock markets in Australia and overseas. Their regulation seeks to deal with the often competing objectives of market efficiency and fairness to shareholders. This subject examines the laws and rules in the area, from both a theoretical and a practical point of view and deals with the key legal concepts and steps that occur in a typical takeover bid and takeover defence, illustrated by actual transactions. The lecturer is a practising takeover lawyer, textbook author and member of the Takeovers Panel—Australia’s takeover dispute resolution body—which helps ensure that the subject matter is topical and current.

Principal topics include:

  • The Eggleston principles
  • The 20% rule
  • Shareholding disclosures
  • Exempt acquisitions
  • Pre-bid activity
  • Scheme alternative
  • Bidder’s statements
  • Action during the bid
  • Defensive strategies
  • Target’s statements
  • Compulsory acquisition
  • Role of the Australian Securities and Investments Commission (ASIC) and the Takeovers Panel
  • Dispute resolution
  • Compulsory acquisition.

Intended learning outcomes

A student who has successfully completed this subject will:

  • Have an advanced and integrated understanding of the objectives and theory of Chapter 6 of the Corporations Act 2001 (Cth)
  • Be able to critically examine, analyse and assess the effectiveness of the present rules in Chapter 6 in achieving the stated objectives of the legislation
  • Be an engaged participant in debate regarding recent developments in this field of law and practice
  • Have a sophisticated appreciation of practical problems and issues that arise in a company takeover and have the cognitive and technical skills to independently examine, research and analyse those problems and issues
  • Have the communication skills to clearly articulate and convey complex information regarding company takeovers to relevant specialist and non-specialist audiences
  • Be able demonstrate autonomy, expert judgment and responsibility as a practitioner and learner in the field of takeovers law.

Eligibility and requirements

Prerequisites

Melbourne Law Masters Students: Prior study in company law or appropriate practical experience is required.

JD Students: Successful completion of the below subject:

Code Name Teaching period Credit Points
LAWS50035 Corporations Law
Semester 2
12.5

Corequisites

None

Non-allowed subjects

Students who have completed the below subject are not permitted to take LAWS70042 Company Takeovers:

Code Name Teaching period Credit Points
LAWS50108 Mergers, Acquisitions & Capital Markets
Semester 2
12.5

Recommended background knowledge

Applicants without legal qualifications should note that subjects are offered in the discipline of law at an advanced graduate level. While every effort will be made to meet the needs of students trained in other fields, concessions will not be made in the general level of instruction or assessment. Most subjects assume the knowledge usually acquired in a degree in law (LLB, JD or equivalent). Applicants should note that admission to some subjects in the Melbourne Law Masters will be dependent upon the individual applicant’s educational background and professional experience.

Core participation requirements

The Melbourne Law Masters welcomes applications from students with disabilities. The inherent academic requirements for study in the Melbourne Law Masters are:

  • The ability to attend a minimum of 75% of classes and actively engage in the analysis and critique of complex materials and debate;
  • The ability to read, analyse and comprehend complex written legal materials and complex interdisciplinary materials;
  • The ability to clearly and independently communicate in writing a knowledge and application of legal principles and interdisciplinary materials and to critically evaluate these;
  • The ability to clearly and independently communicate orally a knowledge and application of legal principles and interdisciplinary materials and critically evaluate these;
  • The ability to work independently and as a part of a group;
  • The ability to present orally and in writing legal analysis to a professional standard.

Students who feel their disability will inhibit them from meeting these inherent academic requirements are encouraged to contact Student Equity and Disability Support.

Assessment

Additional details

Research paper (8,000 - 10,000 words) (100%) (27 November) on a topic approved by the subject coordinator

A minimum of 75% attendance is a hurdle requirement.

Quotas apply to this subject

Dates & times

  • September
    Principal coordinatorRodd Levy
    Mode of deliveryOn Campus — Parkville
    Contact hours24-34 hours
    Total time commitment150 hours
    Pre teaching start date31 July 2019
    Pre teaching requirementsThe pre-teaching period commences four weeks before the subject commencement date. From this time, students are expected to access and review the Reading Guide that will be available from the LMS subject page and the subject materials provided by the subject coordinator, which will be available from Melbourne Law School. Refer to the Reading Guide for confirmation of which resources need to be read and what other preparation is required before the teaching period commences.
    Teaching period 4 September 2019 to 10 September 2019
    Last self-enrol date 7 August 2019
    Census date 4 September 2019
    Last date to withdraw without fail18 October 2019
    Assessment period ends27 November 2019

    September contact information

    Lecturer

    Mr Rodd Levy (Coordinator)

    Email: law-masters@unimelb.edu.au
    Phone: +61 3 8344 6190
    Website: law.unimelb.edu.au

Additional delivery details

This subject has a quota of 30 students.

Enrolment is on a first come, first served basis. Waitlists are maintained for subjects that are fully subscribed.

Students should note priority of places in subjects will be given as follows:

  • To currently enrolled Graduate Diploma and Masters students with a satisfactory record in their degree
  • To other students enrolling on a single subject basis, eg Community Access Program (CAP) students, cross-institutional study and cross-faculty study.

Please refer to the Melbourne Law Masters website for further information about the management of subject quotas and waitlists.

Further information

  • Texts

    Prescribed texts

    Specialist materials will be made available free of charge from Melbourne Law School prior to the pre-teaching period.

  • Available through the Community Access Program

    About the Community Access Program (CAP)

    This subject is available through the Community Access Program (also called Single Subject Studies) which allows you to enrol in single subjects offered by the University of Melbourne, without the commitment required to complete a whole degree.

    Entry requirements including prerequisites may apply. Please refer to the CAP applications page for further information.

    Additional information for this subject

    If required, please contact law-admissions@unimelb.edu.au for subject coordinator approval.

  • Available to Study Abroad and/or Study Exchange Students

    This subject is available to students studying at the University from eligible overseas institutions on exchange and study abroad. Students are required to satisfy any listed requirements, such as pre- and co-requisites, for enrolment in the subject.

Last updated: 27 August 2019