Publications

01 Jun 2017
News

The End of the Noncompete Clause

Dell EMC merger deal closed in September, the company’s president suggested that they would be more “thoughtful and careful” in their use of noncompetes. EARN’s efforts against Dell EMC are ongoing, View Details

Keywords: Janelle Nanos

Hugh L. McColl, Jr.

tripled. In 1998, McColl oversaw the merger of NationsBank and the Bank of America which resulted in the creation of the second largest bank in the United States. McColl presided over the View Details

Keywords: Finance

November 2018
Teaching Note

The Tax Man: Taxes in Private Equity Real Estate

By: Nori Gerardo Lietz and Sayiddah Fatima McCree

Teaching Note for HBS No. 218-077. This teaching note provides the back up analysis for the various alternatives to be considered in choosing the optimal investment structure for the real estate acquisition. It contrasts the interests of the tax exempt investors... View Details

Keywords: Real Estate; Alternative Investment Structures; Taxation; Private Equity; Property; Acquisition; Conflict of Interests; Governing Rules, Regulations, and Reforms

December 2004 (Revised January 2006)
Case

Simon's Hostile Tender for Taubman (A)

Simon Property Group launched a hostile tender offer for upscale Taubman Centers. This case discusses issues of Real Estate Investment Trust (REIT) valuation, financial policy, and corporate governance, as Robert Taubman and his company's independent directors must... View Details

Keywords: Capital Structure; Valuation; Investment; Acquisition; Corporate Governance; Real Estate Industry

08 Nov 2016
First Look

November 8, 2016

prohibiting marketing and restricting the places and times at which alcoholic beverages could be sold. Diageo’s Mey Icki investment in 2011 was the company’s biggest View Details

Keywords: Sean Silverthorne

19 Apr 2011
First Look

First Look: April 19

YudkoffHarvard Business School Case 211-088 Briggs Capital was a regional mergers and acquisitions advisory firm that helped owners sell their small firms. The case presents a... View Details

Keywords: Sean Silverthorne

April 1991 (Revised December 1997)
Case

Southland Corp. (A)

By: Richard S. Ruback

Examines the Thompson's $4.9 billion leveraged buyout of the Southland Corp. in 1987. As the original founders of Southland, the Thompsons were concerned about losing control over the company upon learning of the Belzberg family's acquiring interest. The teaching... View Details

Keywords: Leveraged Buyouts; Governance Controls; Corporate Governance; Bids and Bidding; Valuation; Forecasting and Prediction; Management Analysis, Tools, and Techniques; Strategy; Cash Flow

20 Jul 2010
First Look

First Look: July 20

used the early imitation phase to foster rapid technological learning and upgrading, and how it used a unique corporate structure and listing strategy to finance the View Details

Keywords: Martha Lagace

July 1990 (Revised October 1992)
Case

Consolidated Equipment Co.

By: Samuel L. Hayes III

A mature company seeks to rejuvenate itself with internal R&D and external acquisitions. It has developed a DCK model for analyzing the value of a proposed acquisition. A rewritten version of an earlier case by J.K. Butters. View Details

Keywords: Organizational Change and Adaptation; Valuation; Business Growth and Maturation; Research and Development; Acquisition; Capital Budgeting

March 1985 (Revised November 1988)
Case

Precision Parts, Inc. (A)

By: William A. Sahlman

Contains a description of a decision confronting two entrepreneurs in mid-1981. They are considering purchasing a small manufacturer of precision electromechanical parts. Among the issues in the case are the following: 1) Should Taylor and Grayson buy Precision Parts,... View Details

Keywords: Leveraged Buyouts; Venture Capital; Financing and Loans; Cost vs Benefits; Investment Return; Strategy; Management Practices and Processes; Risk and Uncertainty; Outcome or Result; Manufacturing Industry

March 1991 (Revised August 1995)
Case

Interco

Interco has been advised by Wasserstein Perella to reject a $70 per share offer for the company. The case deals with the various types of analysis employed by Wasserstein Perella and allows a discussion of the actions of Interco's board as well as Wasserstein Perella. View Details

Keywords: Valuation; Negotiation Offer; Acquisition

18 Oct 2004
Research & Ideas

The Bias of Wall Street Analysts

and other ancillary services such as mergers and acquisition work, private placements, asset financings, and so... View Details

Keywords: by Ann Cullen; Financial Services

February 1985
Teaching Note

Duncan Field (A), Teaching Note

By: Howard H. Stevenson and Michael J. Roberts

Teaching Note for (9-382-137). View Details

Keywords: Acquisition; Negotiation; System; Personal Development and Career; Entertainment and Recreation Industry

12 Feb 2008
First Look

First Look: February 12, 2007

analysis. Then, you'll learn how to apply these tools in a variety of decision contexts, including securities analysis, credit analysis, corporate financing policies analysis, mergers and View Details

Keywords: Martha Lagace

January 1999 (Revised April 2004)
Case

Infox System GmbH

Apax, a private equity firm, has an opportunity to invest in a travel-related print-materials distribution business in Germany. Infox is typical of many buyout opportunities. One of the founders seeks to exit the business, and recently hired managers will have to... View Details

Keywords: Private Equity; Leveraged Buyouts; Entrepreneurship; Investment; Financial Services Industry; Germany

01 Mar 2016
First Look

March 1, 2016

profitably through acquisitions and organically for two decades. In late 2015, Hain faced challenges on several fronts. First, new consumers were interested in these products, View Details

Keywords: Sean Silverthorne

November 2012
Supplement

Shenzhen Development Bank (CW)

By: Yuhai Xuan

Keywords: Mergers and Acquisitions; Private Equity; Commercial Banking; Investment; Emerging Markets; Business and Government Relations; Banking Industry; China

17 May 2016
First Look

May 17, 2016

2016 New York: Oxford University Press Consumers, Corporations, and Public Health: A Case-Based Approach to Sustainable Business By: John A. Quelch. Abstract—The public health footprint associated with corporate behavior has come under... View Details

Keywords: Sean Silverthorne

October 2001 (Revised March 2003)
Case

Exxel Group, The: March 2001

By: Josh Lerner and Alberto Ballve

The Exxel Group, a leading Latin American buyout fund, faces a challenge when deciding whether and how to exit its largest investment. The capital markets are very weak, precluding an initial public offering. Undertaking a trade sale of the firm, however, proves to be... View Details

Keywords: Venture Capital; Private Equity; Leveraged Buyouts; Capital Markets; Investment Funds; Financial Strategy; Financial Services Industry; Latin America