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- February 2004
- Case
Czech Mate: CME and Vladimir Zelezny (A)
By: Mihir A. Desai, Alberto Moel and Kathleen Luchs
This case examines how insiders can expropriate value from shareholders in emerging markets when property rights are ill-defined. As such, it provides a platform for considering how institutions and legal rules impact financing patterns and economic outcomes. CME,... View Details
- January 2004
- Case
Bob Holgrom and the Buyout of the Carlson Division
By: Thomas R. Piper
The head of the Carlson Division stands to benefit substantially in financial terms if a private equity firm wins the bid for the division. The division is in the early stages of a performance turnaround, with only three quarters of profit improvement and no audited... View Details
- December 2003 (Revised August 2004)
- Case
Circon (A) (Abridged)
By: Brian J. Hall, Christopher Rose and Guhan Subramanian
In 1996, U.S. Surgical launched a hostile takeover bid against Circon Corp. CEO Richard Auhll recruited an old HBS friend, George Cloutier, to the Circon board to help him defend the company. Circon's primary defenses include a "poison pill" and a staggered board and... View Details
- December 2003
- Case
Fox and the NFL-1998
By: Bharat N. Anand and Catherine M. Conneely
In early 1998, a few major content deals threatened to shape the competitive battle between the television networks for the next several years. These were the bidding for the National Football League (NFL) games, the announcement by Jerry Seinfeld (star of the show... View Details
- December 2003
- Case
Fox Bids for the NFL-1993
By: Bharat N. Anand and Catherine M. Conneely
The Fox television network, launched in 1987 by Rupert Murdoch's News Corp. was in a precarious position in 1993. Although it had met its business plan targets, its ratings in the recently concluded November "sweeps" were indifferent, several of its newly launched... View Details
- November 2003 (Revised March 2006)
- Case
Dow Chemical's Bid for the Privatization of PBB in Argentina
By: Mihir A. Desai and Alexandra de Royere
What price should Dow Chemical bid for PBB, a petrochemical complex that is being privatized by the Argentine government? To answer this question, students are forced to consider the role of country risk, the underlying currency exposure of the business, and how to... View Details
- September 2003
- Case
Valuing a Cross-Border LBO: Bidding on the Yell Group
By: Mihir A. Desai, Paolo Notarnicola and Mark Veblen
A team of private equity investors must value the leveraged buyout of a Yellow Pages business that operated in both the United States and the United Kingdom. In the process, they must wrestle with issues of how to conduct cross-border valuations and how to value a... View Details
- July 2003 (Revised February 2004)
- Background Note
M&A Legal Context: Hostile Takeovers
By: Carliss Y. Baldwin, Constance E. Bagley and James Quinn
Introduces students to the main tactical maneuvers used by hostile bidders, including bear hugs, proxy fights, tender offers, and toeholds. Also describes how, in the United States, tender offers are regulated by the federal government via the Williams Act. View Details
- February 2003 (Revised October 2004)
- Background Note
Antamini Simulation Model
By: Peter Tufano
Antamini is a simulation of the value of an investment project whose outcome is uncertain. This case describes the situation facing a natural resource firm as it contemplates bidding on a copper mine in Peru. The bidder faces uncertainties about the ore deposit size... View Details
- February 2003 (Revised February 2009)
- Case
Yahoo!: Becoming a Competitor in the Career Listings Space (A)
By: Kathleen L. McGinn and Nicole Nasser
In late 2001, Yahoo!'s new executive leadership team faces a decision. With online advertising revenues significantly off, the company has decided to explore new strategic businesses, including online recruiting. The team must decide whether to make a bid for... View Details
- February 2003 (Revised February 2009)
- Case
Yahoo!: Becoming a Competitor in the Career Listings Space (B)
By: Kathleen L. McGinn and Nicole Nasser
After weighing the pros and cons of making an unsolicited bid for HotJobs.com (an online recruiting company already under contract to be acquired by TMP Worldwide), the executive team of Yahoo! decides to make an immediate move rather than wait for the Federal Trade... View Details
- January 2003 (Revised July 2006)
- Exercise
Travelexis.com Role for Jackie Hoff from Travelexis.com
By: Kathleen L. McGinn and Nicole Nasser
Two fictional travel companies, SCOUT and TravelPlanner, engage in competitive bidding to acquire a third party, Travelexis. This exercise consists of three roles, one representative from each of the three companies. It is based on the actual negotiations between... View Details
- January 2003 (Revised July 2006)
- Exercise
Travelexis.com Role for Pat Young from SCOUT
By: Kathleen L. McGinn and Nicole Nasser
Two fictional travel companies, SCOUT and TravelPlanner, engage in competitive bidding to acquire a third party, Travelexis. This exercise is consists of three roles, one representative from each of the three companies. It is based on the actual negotiations between... View Details
- January 2003 (Revised July 2006)
- Exercise
Travelexis.com Role for Robin Knight from TravelPlanner.com
By: Kathleen L. McGinn and Nicole Nasser
Two fictional travel companies, SCOUT and TravelPlanner, engage in competitive bidding to acquire a third party, Travelexis. This exercise consists of three roles, one representative from each of the three companies. It is based on the actual negotiations between... View Details
- September 2002
- Article
Last-Minute Bidding and the Rules for Ending Second-Price Auctions: Evidence from eBay and Amazon Auctions on the Internet
By: Alvin E. Roth and Axel Ockenfels
- June 2002
- Article
The Timing of Bids in Internet Auctions: Market Design, Bidder Behavior, and Artificial Agents
By: Axel Ockenfels and Alvin E. Roth
Keywords: Auctions; Bids and Bidding; Internet and the Web; Markets; Design; Behavior; Internet and the Web
- April 2002 (Revised June 2003)
- Case
News Corporation
By: Bharat N. Anand and Kate Attea
In 2001, News Corp. is the smallest of the major media and entertainment conglomerates, but it has the broadest global presence. In an effort to establish a major distribution presence in the United States, News Corp. had looked to acquire DirecTV, the largest U.S.... View Details
- January 2002 (Revised January 2003)
- Case
Finova Group, Inc. (A), The
By: Stuart C. Gilson and Perry Fagan
Finova Group, a $14 billion commercial finance company, filed for Chapter 11 in early March 2001, in what was one of the largest U.S. bankruptcy filings of all time and the largest corporate bond default since the Great Depression. While in Chapter 11, Finova became... View Details
- December 2001
- Case
Cybersettle
By: Michael A. Wheeler and Gillian Morris
Cybersettle's management faced a dilemma: How could they turn their company, which provided confidential online settlement services for insurance claims, into a profitable enterprise? Having started during the heady days of Internet "dot-com fever," the company now had... View Details
- October 2001 (Revised November 2001)
- Case
Provident Life and Accident Insurance: The Acquisition of Paul Revere
By: Mihir A. Desai, Frank Williamson, Mark Veblen and Yuming Zou
Provident Life & Accident Insurance Co. has made an initial bid to acquire a primary competitor, Paul Revere, from conglomerate, Textron. The due diligence process uncovers a significant block of problematic disability insurance policies. Provident is forced to assess... View Details