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Mergers
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- 2007
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Hedge Fund Investor Activism and Takeovers
By: Robin Greenwood and Michael Schor
We examine long-horizon stock returns around hedge fund activism in a comprehensive sample of 13D filings by portfolio investors between 1993 and 2006. Abnormal returns surrounding investor activism are high for the subset of targets that are acquired ex-post, but not... View Details
- June 2007 (Revised April 2009)
- Case
Intel 2006: Rising to the Graphics Challenge
By: Willy C. Shih and Elie Ofek
Examines the evolution of the PC hardware industry over the span of two and a half decades. The open architecture design of the IBM Personal Computer followed by the rapid appearance of clones drove a high level of standardization and modularity in the industry, and... View Details
- June 2007 (Revised March 2008)
- Case
Lazard LLC
By: Guhan Subramanian and Eliot Sherman
Describes Lazard's situation in 2001, and supplies context for the subsequent negotiation between its Chairman and his hand-picked successor. In 2001 Lazard, the last of the great investment houses to remain both private and in the control of its founding family, is in... View Details
- June 2007 (Revised October 2007)
- Case
Information Technology and Clinical Operations at Beth Israel Deaconess Medical Center
By: Richard M.J. Bohmer, F. Warren McFarlan and Julia Rose Adler-Milstein
Describes the history of clinical computing at Boston's Beth Israel Hospital and the development, since the 1996 merger to form the Beth Israel Deaconess Medical Center, of an information system designed to support the delivery of patient care. The hospitals' CIO, John... View Details
- summer 2007
- Article
Fast-Track Profit Models: Creating the New Due-Diligence Process for Mergers and Acquisitions
By: Steven R. Anderson, Kevin J. Prokop and Robert S. Kaplan
- May 2007
- Article
Corporate Financing Decisions When Investors Take the Path of Least Resistance
By: Malcolm Baker, Joshua Coval and Jeremy Stein
We explore the consequences for corporate financial policy that arise when investors exhibit inertial behavior. One implication of investor inertia is that, all else equal, a firm pursuing a strategy of equity-financed growth will prefer a stock-for-stock merger to... View Details
- March 2007 (Revised December 2007)
- Supplement
Parmalat Uruguay (B)
By: Paul W. Marshall and Gustavo A. Herrero
Three young MBAs create a partnership to acquire the assets of Parmalat in Uruguay. Focuses on their analysis prior to submitting a bid and their plan for improving the operations once their bid is accepted. In addition to improving operations, they must negotiate with... View Details
- March 2007 (Revised November 2012)
- Case
Parmalat Uruguay (A)
By: Paul Marshall and Gustavo Herrero
Three young MBAs create a partnership to acquire the assets of Parmalat in Uruguay. Focuses on their analysis prior to submitting a bid and their plan for improving the operations once their bid is accepted. In addition to improving operations, they must negotiate with... View Details
- February 2007 (Revised April 2010)
- Teaching Note
Furman Selz LLC (TN) (A) and (B): A Tale of Two Acquisitions
By: Boris Groysberg and Geoff Eckman Marietta
Keywords: Mergers and Acquisitions
- January 2007 (Revised May 2008)
- Case
National Logistics Management: Founder Decisions
By: Lynda M. Applegate and Elizabeth Collins
Scott Taylor, CEO & founder of NLM, is a serial entrepreneur faced with an important decision. As his industry consolidates, he knows that his company must grow quickly, yet he believes he has reached the limit of what organic growth can achieve. Should he accept the... View Details
- January 2007
- Article
Acquisitions and Firm Growth: Creating Unilever's Ice Cream and Tea Business
By: G. Jones and Peter Miskell
This article provides a longitudinal case study of the use of acquisitions by the Anglo-Dutch multinational Unilever to build the world's largest ice cream and tea businesses. The study supports recent resource-based theory which argues that complementary rather than... View Details
- December 2006 (Revised May 2008)
- Case
Lion Capital and the Blackstone Group: The Orangina Deal
By: G. Felda Hardymon, Josh Lerner and Ann Leamon
The managing partners of two private equity firms are hoping to forestall a third bidding round for a target company, the European beverage division of Cadbury Schweppes. As they wait to meet with the CEO, they revisit their assumptions on the deal and review the... View Details
- November 2006 (Revised May 2014)
- Case
Li Ka-Shing and the Growth of Cheung Kong
By: Nitin Nohria, Anthony J. Mayo and Mark Benson
Events in the history of Cheung Kong's growth reveal how Li Ka-Shing applied his skills as a "first-class noticer" to complex political and socioeconomic environments. While Li's determination to succeed is legendary, so are his skills in reading and responding to the... View Details
- October 2006 (Revised October 2006)
- Case
DLA Piper: Becoming a Global Firm
By: Jay W. Lorsch and Alexis Chernak
Focuses on DLA Piper, a global law firm resulting from the merger of the combined U.S. firm Piper Rudnick Gray Cary and the British firm DLA. At the time of the merger, the firms had similar strategies for the future and approaches to clients. While figuring out some... View Details
- October 2006 (Revised April 2008)
- Case
Ben Walter
By: Andre F. Perold and David S. Scharfstein
Ben Walter is thinking of purchasing Butler Lumber and needs to decide how he would run the business and how much to pay for it. View Details
- October 2006 (Revised January 2008)
- Case
Allianz AG: Becoming a European Company
By: Jay W. Lorsch and Alexis Chernak
Focuses on the decision made by leadership at Allianz AG, the German insurance and financial services company, to complete a cross-border merger with the Italian insurance and financial services company, RAS. Allianz, however, could not complete the cross-border merger... View Details
- fourth quarter 2006
- Article
Making the Best of M&A
By: Jay W. Lorsch
Keywords: Mergers and Acquisitions
- September 2006
- Teaching Note
OfficeTiger (TN)
Teaching Note to (804-109). View Details
- August 2006 (Revised September 2008)
- Case
Duane Morris: Balancing Growth and Culture at a Law Firm
By: Boris Groysberg and Robin Abrahams
After nearly 100 years as a mid-size regional law firm, Duane Morris entered a period of spectacular growth led by CEO Sheldon Bonovitz. Originally founded by Quakers, the firm had a distinct organizational culture featuring a number of unique or unusual business... View Details