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Are You Paying Too Much for That Acquisition?
Mergers and acquisitions Magazine ArticleThe key is knowing what your top price is—and having the discipline to stick to it. -
Diversification via Acquisition: Creating Value
Mergers and acquisitions Magazine ArticleDuring the past 25 years an increasing proportion of U.S. companies have seen wisdom in pursuing a strategy of diversification. Between 1950 and 1970, for example, single-business companies comprising the Fortune “500” declined from 30% to 8% of the total. Acquisition has become a standard approach to diversification. In recent years the productivity of capital […] -
Go Downstream: The New Profit Imperative in Manufacturing
Business models Magazine ArticleNow that providing services is more lucrative than making products, the old foundations for success in manufacturing are crumbling. Smart manufacturers are creating new business models to capture profits at the customer’s end of the value chain. -
Why Traditional M&A Is Becoming Less Important
Strategy & Execution Digital ArticleThe most important deals of the future will include joint ventures minority investments, alliances. -
All the Wrong Moves (Commentary for HBR Case Study)
Organizational Development Magazine ArticleNutrorim's products have been gaining national attention. In particular, sales of the company's organic, performance-enhancing sports supplement powder,... -
Acquisitions: The Process Can Be a Problem
Finance & Accounting Magazine ArticleAcquisitions continue to be an important method of strategic redirection and renewal. But many companies experience disappointing results. Research suggests... -
Research: Joint Ventures that Keep Evolving Perform Better
Finance & Accounting Digital ArticleMarket leaders maximize returns by actively shaping - and reshaping - their partnership portfolios. -
Stock or Cash?: The Trade-Offs for Buyers and Sellers in Mergers and Acquisitions
Accounting Magazine ArticleCompanies are increasingly paying for acquisitions with stock rather than cash. But both they and the companies they acquire need to understand just how big a difference that decision can make to the value shareholders will get from a deal. -
Can Science Be a Business?: Lessons from Biotech
Intellectual property Magazine ArticleBiotech has not delivered on its promise because the industry’s structure—much of it borrowed from Silicon Valley—is flawed. Businesses engaged in advancing basic science as a core activity need a new design. -
Change Through Persuasion
Leadership & Managing People Magazine ArticleFaced with the need for a massive change, most managers respond predictably. They revamp the organization's strategy, shift around staff, and root out... -
The Big Idea: The New M&A Playbook
Disruptive innovation Magazine ArticleWhy you should pay top dollar for a “killer deal”—and other new rules for making acquisitions -
Early Returns on LBOs
Finance and investing Magazine ArticleLeveraged buyouts have become a prominent and perhaps permanent part of the corporate landscape on both sides of the Atlantic. In 1988, the combined value of LBOs in the United States exceeded $77 billion, more than four times the value of all LBOs completed in 1983. LBOs are a more recent phenomenon in Europe, but […] -
Should Regulators Block AT&T’s Acquisition of T-Mobile?
Mergers and acquisitions Digital ArticleAT&T’s recently announced acquisition of T-Mobile will invite hellfire from telecom regulators who fantasize over a different market structure, in which 17 mom-and-pop carriers serve the masses with tender love and care. As an economist, and as a customer of AT&T (with my mom, wife, and oldest daughter on my account), I am not so […] -
Whole Foods Is Becoming Amazon's Brick-and-Mortar Pricing Lab
Sales & Marketing Digital ArticleAnd changing how Americans think about the cost of healthy food. -
Discipline and the Dilutive Deal
Finance and investing Magazine ArticleA merger that immediately boosts your earnings per share is better than one that dilutes it, right? Wrong. -
Indispensable
Mergers and acquisitions Magazine ArticleEdward Bennett is a talented CEO with a lot on his plate. But he’s not getting any younger, and his board can’t get him engaged in succession planning. -
The Success of Your M&A Deal Hinges on How You Announce It
Communication Digital ArticleThree questions to guide your communication strategy. -
Who Goes, Who Stays?
International business Magazine ArticleThe merger between two pharmaceutical companies generated headlines first—and then headaches. One reason: CEO Steve Lindell has two executives for every available slot. As the stock price drops and talented people head for the exits, he must quickly decide whom to keep and whom to let go. Pass the aspirin. -
Why Companies Are Using M&A to Transform Themselves, Not Just to Grow
Strategy & Execution Digital ArticleThey know they can't just expand what they're already doing. -
Beware the Synergy Scalpel
Organizational Development Digital ArticleI love accountants. Heck, my grandfather is in the Accounting Hall of Fame (I'm not kidding, check out the Web site). But when I see an article pairing...
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Securicor Wireless Networks: February 1996
Innovation & Entrepreneurship Case Study11.95View Details Securicor Wireless (SWN) sold software products to wireless telephone carriers. The company was incorporated in January of 1995 as a 40%-owned subsidiary... -
Strategy Reading: Corporate Strategy
Strategy & Execution Tool40.00View Details The Corporate Strategy Reading uses the lens of value creation and value capture in order to examine corporate strategy. It highlights why firms, especially... -
Strategic Countermoves: Coca-Cola vs. Pepsi
Strategy & Execution Case Study11.95View Details Describes strategic acquisitions by Coca-Cola and Pepsi-Cola in the late 1980s. The context allows students to evaluate the implications of the mergers... -
Hambrecht & Quist
Innovation & Entrepreneurship Case Study11.95View Details Hambrecht & Quist (H&Q), an investment bank headquartered in San Francisco, has a very unique culture relative to its Wall Street counterparts. Firm members... -
Officenet (B): After the Merger
Innovation & Entrepreneurship Case Study5.00View Details Describes the execution of a new economy merger. Officenet, a bricks-and-clicks retailer of office supplies, is sold to an Internet pure-play, Submarino.com.... -
Tiffany & Co.: The LVMH Proposal and LVMH: The Tiffany Acquisition -- Merger Negotiation Application (SIMULATION)
Finance & Accounting Case Study5.00View Details The cases "Tiffany & Co.: The LVMH Proposal" (UVA-F-2012) and "LVMH: The Tiffany Acquisition" (UVA-F-2013) serve as two sides of a merger negotiation... -
Valuing the AOL Time Warner Merger
Innovation & Entrepreneurship Case Study11.95View Details On January 11, 2000, AOL and Time Warner announced their intention to merge, creating what AOL CEO Stephen Case and Time Warner CEO Gerald Levin called... -
Bombardier Transportation and the Adtranz Acquisition
Strategy & Execution Case Study11.95View Details Bombardier Transportation, one of the world's largest manufacturers of passenger rail cars, has successfully negotiated the purchase of Adtranz, a large... -
AXA MONY
Finance & Accounting Case Study11.95View Details AXA's friendly bid for MONY is contested by activist hedge funds suspicious of management's generous change in control contracts. Votes trade after the... -
Shinsei Bank (C)
Leadership & Managing People Case Study5.00View Details Supplements the (A) case. -
Sizmek Chapter 11: Surviving Walled Gardens in Their Ad Tech Empire
Sales & Marketing Case Study11.95View Details This case provides a post-mortem of the advertising technology (adtech) company Sizmek. Sizmek grew via multiple acquisitions, with the vision of becoming... -
AM-Pharma: Creating Value (B)
Strategy & Execution Case Study5.00View Details AM-Pharma is a biotech company developing a medicine for patients with acute kidney injury. The case describes the company's journey from inception in... -
Liston Mechanics Corp.
Finance & Accounting Case Study11.95View Details Reviews, through a rather simple and straightforward situation, the various methods of valuation--free cash flow, weighted average cost of capital, equity... -
CEMEX (A): Building the Global Framework (1985-2004)
Global Business Case Study11.95View Details CEMEX grew through acquisitions from a Latin American to a global company under the leadership of a CEO who believed in the importance of a "one enterprise"... -
Vermeer Technologies (E): New Beginning
Innovation & Entrepreneurship Case Study5.00View Details The Vermeer team is pleasantly surprised by the benefits and hospitality that their new surroundings offer. Their happiness is tempered, however, by discomfort... -
Affinity Labs: Valuing Customer Growth
Innovation & Entrepreneurship Case Study11.95View Details In November 2006, Chris Michel left Military.com, which he founded in 1999, to start Affinity Labs, a global network of online communities. That month,... -
HP, Compaq, and the Computer Industry in 2001 and Beyond
Strategy & Execution Case Study11.95View Details Examines the proposed merger between HP and Compaq and the impact of this merger upon the companies and the industry as a whole. Explores the challenges... -
Beam Suntory: Striving for Optimal Post-Acquisition Integration
Leadership & Managing People Case Study11.95View Details In response to its shrinking domestic market, Japanese liquor company Suntory Holdings Limited acquired American liquor conglomerate Beam Inc. in 2014... -
Apple Inc.
Strategy & Execution Case Study11.95View Details CEO Tim Cook confronts multiple issues that each relate to identifying a source of longer-term growth at Apple, as it becomes increasingly dependent on... -
Bohemian Crowns: Ceskoslovenska Obchodni Banka (B)
Global Business Case Study5.00View Details Supplements the (A) case.
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Are You Paying Too Much for That Acquisition?
Mergers and acquisitions Magazine ArticleThe key is knowing what your top price is—and having the discipline to stick to it. -
Diversification via Acquisition: Creating Value
Mergers and acquisitions Magazine ArticleDuring the past 25 years an increasing proportion of U.S. companies have seen wisdom in pursuing a strategy of diversification. Between 1950 and 1970, for example, single-business companies comprising the Fortune “500” declined from 30% to 8% of the total. Acquisition has become a standard approach to diversification. In recent years the productivity of capital […] -
Go Downstream: The New Profit Imperative in Manufacturing
Business models Magazine ArticleNow that providing services is more lucrative than making products, the old foundations for success in manufacturing are crumbling. Smart manufacturers are creating new business models to capture profits at the customer’s end of the value chain. -
Why Traditional M&A Is Becoming Less Important
Strategy & Execution Digital ArticleThe most important deals of the future will include joint ventures minority investments, alliances. -
Securicor Wireless Networks: February 1996
Innovation & Entrepreneurship Case Study11.95View Details Securicor Wireless (SWN) sold software products to wireless telephone carriers. The company was incorporated in January of 1995 as a 40%-owned subsidiary... -
All the Wrong Moves (Commentary for HBR Case Study)
Organizational Development Magazine ArticleNutrorim's products have been gaining national attention. In particular, sales of the company's organic, performance-enhancing sports supplement powder,... -
Strategy Reading: Corporate Strategy
Strategy & Execution Tool40.00View Details The Corporate Strategy Reading uses the lens of value creation and value capture in order to examine corporate strategy. It highlights why firms, especially... -
Strategic Countermoves: Coca-Cola vs. Pepsi
Strategy & Execution Case Study11.95View Details Describes strategic acquisitions by Coca-Cola and Pepsi-Cola in the late 1980s. The context allows students to evaluate the implications of the mergers... -
Acquisitions: The Process Can Be a Problem
Finance & Accounting Magazine ArticleAcquisitions continue to be an important method of strategic redirection and renewal. But many companies experience disappointing results. Research suggests... -
Hambrecht & Quist
Innovation & Entrepreneurship Case Study11.95View Details Hambrecht & Quist (H&Q), an investment bank headquartered in San Francisco, has a very unique culture relative to its Wall Street counterparts. Firm members...