Merger Analysis
Merger: Valuation Process and
Evaluation of Financial Performance in case of United Insurance Company and Shama Plc
By: Jemaneh Bayou
January 2008
Advisor: Abebe Yitayew (Asst.
Professor.)
A PROJECT PAPER
SUBMITTED TO THE SCHOOL OF GRADUATE STUDIES
OF
ADDIS ABABA UNIVERSITY
IN PARTIAL FULFILLMENTS OF THE REQUIREMENTS
FOR THE DEGREE OF MASTER OF SCIENCE
IN
ACCOUNTING AND FINANCE
ADDIS ABABA UNIVERSITY
SCHOOOL OF GRADUATE STUDIES
Faculty of Business & Economics
Department of Accounting & Finance
Merger: Valuation Process and Evaluation of
Financial Performance in case of United
Insurance Company and Shama Plc
By Jemaneh Bayou Hailu
January 2008
Approved by board of examiners
Asst. Professor Abebe Yitayew
Advisor
Examiner
___________________
Signature
___________________
Signature
Examiner
___________________
Signature
Statement of Certification
This is to certify that Jemaneh Bayou has carried out his project work on the topic
“Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc” under my supervision. In my opinion, this work qualifies for submission in partial fulfillment of the requirements for the award of Degree of Masters of Science in Accounting and
Finance.
Signature________________
Abebe Yitayew (Asst.Professor)
Project Advisor
Statement of Declaration
I declare that this project work is my original work. It has not been submitted for any degree/Diploma in any University. I have undertaken it independently with the advice and suggestions of my advisor for the project, Ato Abebe Yitayew (Asst.Professor). In carrying out of the project work I have different sources and materials, which have been appropriately acknowledged.
Signature _________________________
Jemaneh Bayou
Acknowledgement
First of all I would like to thank the almighty God for helping me in the successful accomplishment of this paper.
I would
Evaluation of Financial Performance in case of United Insurance Company and Shama Plc
By: Jemaneh Bayou
January 2008
Advisor: Abebe Yitayew (Asst.
Professor.)
A PROJECT PAPER
SUBMITTED TO THE SCHOOL OF GRADUATE STUDIES
OF
ADDIS ABABA UNIVERSITY
IN PARTIAL FULFILLMENTS OF THE REQUIREMENTS
FOR THE DEGREE OF MASTER OF SCIENCE
IN
ACCOUNTING AND FINANCE
ADDIS ABABA UNIVERSITY
SCHOOOL OF GRADUATE STUDIES
Faculty of Business & Economics
Department of Accounting & Finance
Merger: Valuation Process and Evaluation of
Financial Performance in case of United
Insurance Company and Shama Plc
By Jemaneh Bayou Hailu
January 2008
Approved by board of examiners
Asst. Professor Abebe Yitayew
Advisor
Examiner
___________________
Signature
___________________
Signature
Examiner
___________________
Signature
Statement of Certification
This is to certify that Jemaneh Bayou has carried out his project work on the topic
“Merger: Valuation Process and Evaluation of Financial Performance in case of United Insurance Company and Shama Plc” under my supervision. In my opinion, this work qualifies for submission in partial fulfillment of the requirements for the award of Degree of Masters of Science in Accounting and
Finance.
Signature________________
Abebe Yitayew (Asst.Professor)
Project Advisor
Statement of Declaration
I declare that this project work is my original work. It has not been submitted for any degree/Diploma in any University. I have undertaken it independently with the advice and suggestions of my advisor for the project, Ato Abebe Yitayew (Asst.Professor). In carrying out of the project work I have different sources and materials, which have been appropriately acknowledged.
Signature _________________________
Jemaneh Bayou
Acknowledgement
First of all I would like to thank the almighty God for helping me in the successful accomplishment of this paper.
I would
Bibliography: Historically, mergers have often failed to add significantly to the value of the acquiring firm 's shares (King, et al., 2004)