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商品編號: TB0207 出版日期: 1997/01/15 作者姓名: Sundaram, Anant K. 商品類別: Finance 商品規格: 23p 再版日期: 地域: France;United States 產業: 個案年度: -
商品敘述:
Didier Pineau-Valencienne (DPV), the CEO of Schneider SA, a leading French multinational company in the electrical distribution and industrial automation industry, is faced with the prospect of failure of joint venture discussions with the US company, Square D. The negotiations have already consumed two and one-half years. Mr. Pineau-Valencienne must decide whether to call off the discussion and go ahead with a tender offer for the US company, and if so, determine how much he should pay for Square D''s equity. The case addresses issues of strategic fit between the bidder and the target, target performance, valuation (both base-case and synergies), financing decisions associated with the acquisition, and how the target''s poison pills and anti-takeover amendments might affect outcomes in the battle for corporate control. An additional aspect of the case involves putting participants in the shoes of risk-arbitragers on Wall Street through a bidding game to make "buy-sell-hold" decisions. This involves forming judgments about Schneider''s moves and Square D''s counter moves, and DPV''s (and their own) assessments of how high a price is likely to be paid if the acquisition goes through.
涵蓋領域:
Automation
相關資料:
Case Teaching Note, (TB0208), 36p, by Anant K. Sundaram
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