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February 2007
Article

Strategic Bidder Behavior in Sponsored Search Auctions

By: Benjamin Edelman and Michael Ostrovsky

We examine sponsored search auctions run by Overture (now part of Yahoo!) and Google and present evidence of strategic bidder behavior in these auctions. Between June 15, 2002, and June 14, 2003, we estimate that Overture's revenue from sponsored search might have been... View Details

Keywords: Auctions; Strategy; Behavior; Revenue; Performance Efficiency; Bids and Bidding; Search Technology

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March 2000
Case

Spec's Music (B)

By: John A. Davis and Susan Harmeling

Explores the reasoning behind the final decision to sell and the decision-making process that leads to the final question of "if so, to whom?" Four of the bidders are music retailers and the fifth is a Tampa entrepreneur. View Details

Keywords: Decision Making; Decision Choices and Conditions; Entrepreneurship; Bids and Bidding

01 Apr 2014
Research & Ideas

When Do Alliances Make Sense?

solo. He found it in a unique set of data: leases for oil and gas drilling in the Gulf of Mexico. Firms competing to drill in the region have historically bid on 5,000-acre tracts, submitting sealed bids... View Details

Keywords: by Michael Blanding; Energy; Utilities

12 Aug 2008
Op-Ed

Google-Yahoo Ad Deal is Bad for Online Advertising

many advertisers that currently buy ads from Yahoo. The proposed deal would substantially reduce Yahoo's ability to offer competitive payments to Web site publishers seeking to show pay-per-click ads. Without Yahoo bidding against Google... View Details

Keywords: by Benjamin G. Edelman; Advertising; Publishing

June 2001
Case

ESL Golf (B)

By: Carliss Y. Baldwin and Christopher R Gordon

Supplements the (A) case. View Details

Keywords: Leveraged Buyouts; Auctions; Bids and Bidding; Private Equity; Valuation

01 Oct 2001
News

Lunch with Jack: Student Dines with GE's Welch

Few student exploits over the summer could match the power lunch enjoyed by Reginald Sanders (HBS '02), who broke bread and talked business with Jack Welch, the legendary force behind General Electric. Sanders earned the honor of dining with Welch by placing the... View Details

Keywords: Architectural, Engineering, and Related Services; Professional Services

April 1991 (Revised August 1995)
Supplement

Cat Fight in the Pet Food Industry (B)

By: David J. Collis

Describes the contest for the takeover of Anderson Clayton as industry players compete for one of the seven major dog food makers. View Details

Keywords: Business or Company Management; Bids and Bidding; Competition; Corporate Strategy; Food and Beverage Industry

07 Nov 2018
News

The Results Are (Mostly) In

battleground Senate race. US House of Representatives A former marine who served four tours in Iraq, Seth Moulton (MBA 2011) won his bid for re-election to the Massachusetts Sixth Congressional District, a seat he has held since 2014.... View Details

January 1992
Teaching Note

Gulf Oil Corporation-Takeover TN

By: Richard S. Ruback

Teaching Note for (9-285-053). View Details

Keywords: Privatization; Business Exit or Shutdown; Bids and Bidding; Natural Environment; Energy Industry

April 2006 (Revised April 2012)
Background Note

The Company Sale Process

By: William E. Fruhan Jr.

Lays out the steps, the timeline, and the process by which a company is sold. Focuses on the sale of companies with enterprise values greater than $100 million. These transactions are large enough to require the help of a financial adviser and attract both strategic... View Details

Keywords: Mergers and Acquisitions; Auctions; Bids and Bidding; Agreements and Arrangements; Sales

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

Keywords: Acquisition; Cash; Governing Rules, Regulations, and Reforms; Code Law; Bids and Bidding; United States

June 2010 (Revised December 2013)
Supplement

Hang Lung Properties and the Chengdu Decision (B)

By: John D. Macomber, Michael Shih-Ta Chen and Keith Chi-Ho Wong

Second phase of auction for a prime retail development parcel in Chengdu, China. Competition forces the firm to revisit all of its land purchase criteria. Hang Lung Properties is known for rigorous due diligence, for discipline in buying property, and for good... View Details

Keywords: Geographic Location; Auctions; Bids and Bidding; Infrastructure; Competitive Strategy; Valuation; Real Estate Industry; Chengdu

June 2005 (Revised November 2005)
Case

The Harrison and HIA

By: Jay O. Light

A large East Coast insurance company is thinking of selling its investment management subsidiary. Several Eurobanks are thinking of acquiring this subsidiary. View Details

Keywords: Acquisition; Business Subsidiaries; Investment; Bids and Bidding; Negotiation; Valuation; Insurance Industry

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2009
Simulation

Finance Simulation: Blackstone/Celanese (Facilitator's Guide)

By: Nabil N. El-Hage, Timothy A. Luehrman and Heide Diener Abelli

Keywords: Bids and Bidding; Finance; Mergers and Acquisitions; Valuation; Leveraged Buyouts; Negotiation