Publications

1994
Chapter

Takeovers: Their Causes and Consequences

By: Michael C. Jensen

Keywords: Acquisition

SSRN

1988
Comment

Characteristics of Hostile and Friendly Takeover Targets

By: Michael Jensen

Keywords: Acquisition

August 1978 (Revised July 1979)
Exercise

Buying a Firm

By: Howard Raiffa

Keywords: Acquisition

Find at Harvard

January 2014 (Revised September 2015)
Case

Mittal Steel's Pursuit of Arcelor (A)

By: Paul M. Healy and Penelope Rossano

Lakshmi Mittal, CEO of Mittal Steel, a UK-based company with Indian roots, took advantage of a weakened Arcelor that had successfully won a bidding war for Canadian steel company Dofasco, with an unsolicited bid to buy the company. Mittal's plans for acquiring Arcelor... View Details

Keywords: Fiduciary Duty; Steel; India; Europe; Governance; Mergers; Board Decisions; White Knight; Strategy; Negotiation; Mergers and Acquisitions; Corporate Governance; Cross-Cultural and Cross-Border Issues; Steel Industry; Canada; United Kingdom; Russia; India

January 2011 (Revised July 2012)
Case

National Public Broadcasting

By: Richard S. Ruback and Royce Yudkoff

Bob Williams, the CEO of National Public Broadcasting (NPB), was considering an unsolicited offer to purchase the company in the early spring of 2006. The company was a media underwriting representative for public television and radio stations throughout the United... View Details

Keywords: Mergers and Acquisitions; Decision Choices and Conditions; Financial Management; Ownership; Advertising Industry; Media and Broadcasting Industry

February 1998
Teaching Note

Aladdin Knowledge Systems TN

By: Das Narayandas

Teaching Note for (9-598-018). View Details

Keywords: Mergers and Acquisitions; Competition; Marketing; Sales; Distribution; Safety; Globalization; Integration; Information Technology Industry; Europe; United States

September 2015
Supplement

Hexion/Apollo's Courtship of Huntsman Corporation (B)

By: Lena G. Goldberg and Danielle V. Holland

To be used with “Hexion/Apollo's Courtship of Huntsman Corporation (A)” HBS No. 316-028. View Details

Keywords: Fiduciary Outs; Topping Rights; Revlon Duties; Solvency Opinions; Reverse Termination Fees; Litigation Strategy; Lawsuits and Litigation; Mergers and Acquisitions

Fast Answer

Management buyouts

Where can I find information and statistics on management buyouts? LSEG Workspace Click on the Search Tools tab and select M&A. In the Quick Filters section, type Acquisition Techniques into the Add Filters text box, and select... View Details

18 Jul 2006
First Look

First Look: July 18, 2006

http://harvardbusinessonline.hbsp.harvard.edu/b01/en/common/item_detail.jhtml?id=206108 The Role of Private Equity Firms in Merger and Acquisition Transactions Author:William E. Fruhan Jr. Harvard Business School Note 206-101 Explores the... View Details

Keywords: Sean Silverthorne

01 Jun 1999
News

Q & A: Pat Russo - Focused on the Future at Lucent Technologies

industry is to reduce complexity and simplify ease of use. As communications capabilities and options expand, all of us who provide aspects of communications networks (including devices) must keep reduced complexity in mind. Can you describe some of the factors that... View Details

22 Jan 2019
News

Remembering Walter Shipley

foundation for one of the biggest financial institutions in the world with JPMorgan Chase, an acquisition that took place shortly after Shipley’s retirement in 1999. The Financial Times writes: Mr. Shipley’s deep sense of collegiality is... View Details

20 Aug 2012
Research & Ideas

The Acquirers

companies would bid more for an acquisition target than would undervalued acquirers—and that overvalued targets would be more willing to accept takeover offers, leading to waves of M&A activity during a market bubble. Peaks of... View Details

Keywords: by Kim Girard; Financial Services

July 2021
Teaching Note

Playing the Field: Competing Bids for Anadarko Petroleum Corp.

By: Daniel Green, E. Scott Mayfield and Benjamin C. Esty

Teaching Note for HBS Case No. 220-087. View Details

Keywords: Mergers and Acquisitions; Bids and Bidding; Decision Making; Cost vs Benefits

March 2009
Background Note

Evaluating M&A Deals: Floors, Caps, and Collars

By: Carliss Y. Baldwin

As equity consideration has become more popular in acquisitions, so has the use of the "pricing-protection" mechanisms, such as floors, caps, and collars. These contractual devices provide insurance to the shareholders of the target and may protect the buyer as well.... View Details

Keywords: Mergers and Acquisitions; Equity; Price; Contracts; Business and Shareholder Relations

August 2002 (Revised May 2003)
Case

New Wachovia (B), The

By: Carliss Y. Baldwin and Jeremy Swinson

On August 3, 2001, after a hotly contested proxy fight, Wachovia Corp.'s shareholders voted to merge with First Union Corp. The managers of the two banks then turned to face the challenges of integrating the two organizations. Their task was to implement a "merger of... View Details

Keywords: Integration; Mergers and Acquisitions; Problems and Challenges; Banks and Banking; Banking Industry; North Carolina

2009
Case

Mercury Athletic Footwear, Inc.: Valuing the Opportunity (TN): Brief Case No. 4051.

By: Timothy A. Luehrman and Joel L. Heilprin

Keywords: Mergers and Acquisitions; Restructuring; Valuation; Apparel and Accessories Industry

October 2001
Case

Healthcare Brands Corporation

By: David F. Hawkins

A U.K. and a U.S. firm are entering into a merger agreement. Management must decide whether the merged companies should be domiciled in the United Kingdom and account for the merger as a pooling of interests or the United States and account for the merger as a... View Details

Keywords: International Accounting; Mergers and Acquisitions; Contracts; Health Industry; United Kingdom; United States