Publications

March 2009 (Revised September 2010)
Case

HOYA Corporation (A)

By: W. Carl Kester and Masako Egawa

In 2007, HOYA of Japan must decide whether to change its friendly exchange offer for Pentax into a hostile cash tender offer. A surprising sequence of events had caused a friendly merger agreement to fall apart, resulting in a boardroom coup at Pentax and the... View Details

Keywords: Mergers and Acquisitions; Investment Activism; Corporate Governance; Governance Controls; Governing and Advisory Boards; Negotiation Tactics; Business and Shareholder Relations; Valuation; Japan

January 2009
Supplement

The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (B2)

By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane

Bear Stearns & Co burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday March 13 was insufficient to reverse the decline in Bear's... View Details

Keywords: Economic Slowdown and Stagnation; Capital; Insolvency and Bankruptcy; Financial Liquidity; Banks and Banking; Governance; Crisis Management; Goals and Objectives; System; Valuation; New York (state, US)

January 2009 (Revised November 2011)
Case

The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (A)

By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane

"Bear Stearns & Co. burned through nearly all of its $18 billion in cash reserves during the week of March 10, 2008, and an unprecedented provision of liquidity support from the Federal Reserve on Friday, March 13 was insufficient to reverse the decline in Bear's... View Details

Keywords: Mergers and Acquisitions; Financial Crisis; Capital; Financial Liquidity; Financial Strategy; Corporate Governance; Crisis Management; Business and Stakeholder Relations; Competition; Valuation; Financial Services Industry

January 2009
Supplement

The Tip of the Iceberg: JP Morgan Chase and Bear Stearns (B1)

By: Clayton S. Rose, Daniel Baird Bergstresser and David Lane

Keywords: Economic Slowdown and Stagnation; Capital; Financial Liquidity; Banks and Banking; Governance; Crisis Management; Failure; Business and Stakeholder Relations; Balance and Stability; Valuation; New York (state, US)

January 2009 (Revised April 2009)
Case

Disaster in April: The Obligations of Kelly Construction

By: John D. Macomber, Christopher M. Gordon and Ben Creo

A construction company experiences a crane accident with multiple fatalities. The CEO, a client, and an employee must make choices to meet the company's obligations. Set in 2006, the case looks at the choices faced by board members of a museum that is an important... View Details

Keywords: Business Exit or Shutdown; Family Business; Insolvency and Bankruptcy; Governing and Advisory Boards; Compensation and Benefits; Contracts; Crisis Management; Construction Industry

October 2008 (Revised September 2011)
Supplement

PepsiCo's Bid for Quaker Oats (B)

By: Carliss Y. Baldwin and Leonid Soudakov

Second in a series on PepsiCo's bid for Quaker Oats. Describes the negotiations between PepsiCo and Quaker including due-diligence process, first bid, and counteroffer. Quaker's counteroffer included a collar on equity consideration, and thus the case offers an... View Details

Keywords: Mergers and Acquisitions; Equity; Bids and Bidding; Negotiation Offer; Negotiation Preparation; Valuation; Food and Beverage Industry

September 2008 (Revised September 2018)
Case

Traversing a Career Path: Pat Fili-Krushel (A)

By: Kathleen L. McGinn, Deborah M. Kolb and Cailin B. Hammer

Pat Fili-Krushel, CEO and president of WebMD and past president of ABC Network, contemplates accepting Richard Parson's offer to become the first executive vice president of administration at AOL Time Warner. Accepting this position would be a move back into mainstream... View Details

Keywords: Decision Choices and Conditions; Job Offer; Managerial Roles; Negotiation Tactics; Personal Development and Career; Power and Influence; Media and Broadcasting Industry

Article

Can the Virtuous Mouse and the Wealthy Elephant Live Happily Ever After?

By: James E. Austin and Herman B. "Dutch" Leonard

What happens when small iconic socially oriented businesses are acquired by large corporations? Such mergers create significant opportunities for creating both business value and substantially expanded social value, but they also pose unusually difficult challenges... View Details

Keywords: Mergers and Acquisitions; Management Style; Agreements and Arrangements; Social Enterprise; Social Issues

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May 2008 (Revised June 2009)
Case

Finansbank 2006

By: C. Fritz Foley and Linnea Meyer

How do financial policy requirements and benefits of ownership concentration affect the need for and process of corporate restructuring? This case provides students with an opportunity to analyze the restructuring of a Turkish multinational business group by way of a... View Details

Keywords: Leveraged Buyouts; Mergers and Acquisitions; Restructuring; Capital Budgeting; Agreements and Arrangements; Valuation; Turkey; Greece

March 2008 (Revised April 2009)
Case

Eliot Spitzer: Pushing Wall Street to Reform

By: Rawi Abdelal, Rafael Di Tella and Jonathan Schlefer

New York State Attorney General Eliot Spitzer faced a decision about how to stop wrongdoing committed by major Wall Street firms during the Internet boom. The equities analysts of Merrill Lynch and other Wall Street firms were charged with objectively advising retail... View Details

Keywords: Crime and Corruption; Decisions; Financial Institutions; Stocks; Governing Rules, Regulations, and Reforms; Laws and Statutes; Lawsuits and Litigation; Conflict of Interests; Internet; Financial Services Industry; United States

2008
Case

Great Negotiator Case Study Package

By: James K. Sebenius, Jeswald Salacuse, Daniel Curran, Rebecca Hulse and Kristin Schneeman

This special curriculum package includes the following case studies in the Great Negotiator Case Study Series, each of which features a past recipient of PON's Great Negotiator Award:

2000 PON Great Negotiator: "To Hell with the Future, Let's Get... View Details

Keywords: Negotiation

November 2007 (Revised March 2009)
Case

Clear Channel 2006

By: Richard S. Ruback and Leslie Pierson

The Board of Directors of Clear Channel Communications, a radio broadcasting and outdoor advertising company, has to respond to a revised proposal from two private equity firms to take the company private. In November of 2006, the Board had unanimously approved an... View Details

Keywords: Decision Choices and Conditions; Private Equity; Governing and Advisory Boards; Negotiation Offer; Privatization; Business and Shareholder Relations

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2007
Working Paper

Paths to Equality: Walking the Talk in Multi-party Negotiations

By: Kathleen L. McGinn, Katherine L. Milkman and Markus Nöth

Past research has shown that communication in negotiations heightens social awareness, facilitates coordination, increases the utility for the other's positive outcomes, and thereby leads to more equal payoffs. But the role of specific communication strategies in... View Details

Keywords: Interpersonal Communication; Fairness; Agreements and Arrangements; Negotiation Types; Behavior; Competition

October 2007 (Revised December 2008)
Background Note

Evaluating M&A Deals: How Poison Pills Work

By: Carliss Y. Baldwin

The poison pill defense against hostile takeovers was invented in 1982 by Martin Lipton, of Wachtell, Lipton, Rosen and Katz. Pills are considered the most effective of all the normal defenses against a hostile bidder. Describes the two basic types of poison pills... View Details

Keywords: Negotiation Deal; Mergers and Acquisitions