Publications

May 1997 (Revised July 1997)
Case

Vermeer Technologies (D): Making Transitions

By: Ashish Nanda

Microsoft has acquired Vermeer, and Vermeer executives are both excited and concerned as they prepare to move to Redmond. Even though the acquisition has been financially rewarding, the Vermeer engineers worry how well they will adapt to their new home. Meanwhile,... View Details

Keywords: Horizontal Integration; Value Creation; Applications and Software; Acquisition; Product Development; Information Technology Industry

November 2012
Case

Edison Schools, Inc.

By: Thomas R. Eisenmann and Lauren Barley

Edison Schools, Inc., a pioneer in the for-profit management of public schools, demonstrates the challenges and opportunities related to private sector involvement in the delivery of a public good. Follows the organization from its start-up through its initial public... View Details

Keywords: Charter Schools; Conflict of Interests; Initial Public Offering; For-Profit Firms; Public Sector; Market Entry and Exit; Education; Business Startups; Education Industry

March 1990 (Revised November 2004)
Case

O.M. Scott & Sons Co. Leveraged Buyout

By: George P. Baker III and Karen Wruck

Documents the organizational changes that took place at O.M. Scott & Sons Co. in response to their leveraged buyout. Provides the opportunity for students to discuss the effects of high leverage on management decision making, and the differences between operating as a... View Details

Keywords: Leveraged Buyouts; Capital Structure; Borrowing and Debt; Organizational Structure; Organizational Change and Adaptation; Management; Business Conglomerates; Cost of Capital; Financial Services Industry

March 2010
Teaching Note

Rosetree Mortgage Opportunity Fund (TN)

By: Victoria Ivashina and Andre F. Perold

Teaching Note for [209088]. View Details

Keywords: Financial Crisis; Crisis Management; Capital; Mortgages; Mergers and Acquisitions; Valuation; Borrowing and Debt; Cash Flow; Bids and Bidding; Financing and Loans; Restructuring; Financial Markets; United States

01 Jun 2011
News

Perception versus Reality

pushed into new territory, the School already has a strong track record of fostering student entrepreneurship, a story told by associate editor Julia Hanna in her look back at past participants in the HBS Business Plan Contest, now in its... View Details

Keywords: Roger Thompson; contests; awards; meta

June 2021
Article

Deals in the Time of Pandemic

By: Guhan Subramanian and Caley Petrucci

The COVID-19 pandemic has brought new attention to the period between signing and closing in M&A transactions. Transactional planners heavily negotiate the provisions that govern the behavior of the parties during this window, not only to allocate risk between the... View Details

Keywords: Takeovers; COVID-19; Material Adverse Effect; Mergers and Acquisitions; Health Pandemics

SSRN

2014
Chapter

Mergers and Acquisitions and Innovation

By: Gautam Ahuja and Elena Novelli

This article (a) identifies the different theoretical perspectives and abstractions used to conceptualize the M&A–Innovation relationship; (b) reviews the literature on antecedents, consequences, and integration of M&A in the context of innovation; and (c) identifies... View Details

Keywords: Mergers; Acquisitions; Innovation; Knowledge-bases; Knowledge; Mergers and Acquisitions; Innovation and Invention

August 2012 (Revised July 2015)
Background Note

A Note on Valuation in Private Equity

By: Paul A. Gompers

This note will provide an overview of valuation methodologies in private equity. View Details

Keywords: Valuation; Valuation Methodologies; Private Equity; Leveraged Buyouts

October 2009
Teaching Note

Citigroup-Wachovia-Wells Fargo (TN)

By: Guhan Subramanian and Nithyasri Sharma

Teaching Note for [910006]. View Details

Keywords: Financial Crisis; Mergers and Acquisitions; Financial Services Industry

Article

Capital Budgeting Systems and Capabilities Investments in U.S. Companies after World War II

By: K. B. Clark and C. Y. Baldwin

Keywords: Capital Budgeting; System; Investment; Business Ventures; United States

October 2007 (Revised February 2008)
Module Note

Evaluating M&A Deals: Introduction to the Deal NPV

By: Carliss Y. Baldwin

Introduces a framework for evaluating mergers and acquisitions. Assumes that the criterion of a good deal is that it creates value for shareholders; i.e., has a positive deal NPV. Looks at the deal NPV from both the buyer's and seller's point of view. Explains how a... View Details

Keywords: Mergers and Acquisitions; Value Creation

February 1999
Article

Interest-Rate Exposure and Bank Mergers

By: B. C. Esty, Bhanu Narasimhan and Peter Tufano

Keywords: Mergers and Acquisitions; Interest Rates; Banking Industry

Read Now

Article

The Structure Within Industries and Companies' Performance

By: M. E. Porter

Keywords: Business Ventures; Industry Structures; Performance

fall 1986
Article

Privatizing State-Owned Enterprises: Hopes and Realities

By: James E. Austin, Lawrence H. Wortzel and John F. Coburn

Keywords: State Ownership; Privatization; Business Ventures

March 1998 (Revised May 1998)
Case

Argentina's YPF Sociedad Anonima (Abridged)

By: Michael Y. Yoshino, Carin-Isabel Knoop and Cate Reavis

Describes the privatization of YPF Sociedad Anonima and the company's dilemma of whether to acquire a troubled U.S. oil company as a way of becoming a global oil company. View Details

Keywords: Mergers and Acquisitions; Globalization; Privatization

Melody is a Partner at NextView Ventures, based in its New York office. Prior to joining NextView, Melody was Head of Product at Blue Apron. Melody joined Blue Apron as the first product hire post Series A and helped scale the business... View Details

22 Feb 2000
Research & Ideas

Social Capital Markets: Creating Value in the Nonprofit World

hiscoauthoring a groundbreaking 1997 Harvard Business Review article "Virtuous Capital: What Foundations Can Learn from Venture Capitalists." In the article Grossman and coauthors Christine... View Details

Keywords: by Anne Kavanagh

March 2021 (Revised February 2025)
Teaching Note

Afterpay U.S.: The Omnichannel Dilemma

By: Antonio Moreno and Anibha Singh

Teaching Note for HBS Case No. 519-086. In 2018, Nick Molnar, the founder of the Australia-based online payment service Afterpay began its expansion to the U.S. market. The service had gained a loyal following in Australia by enabling customers to pay for online... View Details