Lecture, three hours. Requisites: courses 230 (or 430), 408. Process by which corporate control transactions take place; role of market for corporate control in leading to economic restructuring and shifts in resource allocation by corporations. Empirical evidence on economic and capital market reactions to control transactions and to defensive measures by management. Focus on interaction of strategic planning, firm value maximization, and investment decisions in life cycle of growth of firm. S/U or letter grading.