HBSP (USA)
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Constellation Brands' Investment in Canopy Growth: Aiming High
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-220044-EFinanceIn 2017, Constellation Brands, the U.S. based beverage company, acquired a 9.9% equity interest in the Canadian marijuana company, Canopy Growth. In 2018, Constellation announced a subsequent investment in Canopy-taking its ownership interest to 37%. However, Canopy's performance had been volatile and net losses had increased since the investment. In an effort to get into the cannabis market early, had Constellation Brands been too early?Starting at €8.20
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Central European Distribution Corporation: Hostile Takeover, Bankruptcy Makeover
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-216059-EFinanceIn early 2013, CEDC, a large publicly-traded producer and distributer of vodka and spirits in Eastern and Central Europe, has suffered significant declines in its financial performance, is at risk of defaulting on its debt, and is under pressure from its largest shareholders to give them control of the board and to restructure its debt to avoid bankruptcy. The largest shareholder, billionaire Russian investor Roustam Tariko, has proposed an out o...Starting at €8.20
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Groupe Eurotunnel S.A. (B): Restructuring Under the Procedure de Sauvegarde
Gilson, Stuart C.; Dessain, Vincent; Abbott, Sarah L.Case HBS-209113-EFinanceIn mid-2007 the chairman and CEO of Eurotunnel Group, having elected to file for bankruptcy under a newly-enacted French insolvency law, awaits the outcome of a vote by creditors and shareholders. At least 50% of the shareholders must approve the plan, however they face significant dilution of their ownership interests in Eurotunnel. If the vote fails to pass, the possibility that the company may have to be liquidated becomes increasingly likely.Starting at €5.74
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The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany (Spanish version)
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-223S03FinanceIn November 2019, the iconic U.S. jeweler Tiffany agreed to be acquired by the luxury goods conglomerate LVMH. The $16.6 billion transaction was scheduled to close in mid-2020. However, in 2020, the global COVID-19 pandemic took a toll on the luxury goods sector. In September 2020 LVMH announced that it was backing out of the deal. Tiffany filed suit against LVMH. LVMH countersued, arguing that the pandemic triggered a material adverse effect (MA...Starting at €8.20
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Delhaize Group: Developing Leaders
Groysberg, Boris; Abbott, Sarah L.Case HBS-415019-ELeadership and People ManagementDelhaize Group, the Belgian-based global food retailer, was focused on competing in the food retailing industry by developing leading positions in key markets via localized retailing strategies. Delhaize was committed to offering its customers superior value while maintaining high social, environmental, and ethical standards. For Frans Muller, Delhaize's president and CEO, the key to executing on this strategy was ensuring that the Group was deve...Starting at €8.20
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Kvadrat: Leading for Innovation, Teaching Note
Groysberg, Boris; Abbott, Sarah L.Teaching Note HBS-418088-ELeadership and People ManagementTeaching note for case 413120.Starting at €0.00
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Kvadrat: Leading for Innovation
Groysberg, Boris; Abbott, Sarah L.Case HBS-413120-ELeadership and People ManagementIn 2013, Anders Byriel, CEO of the family-owned Danish textiles company, Kvadrat, considered the firm's strategic plan. In 2000, Byriel and Mette Bendix, Kvadrat's Product Director, had taken over management of the company from their fathers, who had founded Kvadrat in the 1960s. Byriel and Bendix had joined Kvadrat in 1992, and since that time, Kvadrat had grown from 19 million in annual sales to over 86 million. It had expanded its focus ...Starting at €8.20
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Lyondell Chemical Company
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-210001-EFinanceHit with an industry recession and the global financial crisis of 2008, in January 2009 LyondellBasell Industries AF S.C.A., one of the world's largest internationally diversified chemical companies and headquartered in The Netherlands, placed its U.S. operations and a German subsidiary under U.S. Chapter 11 bankruptcy protection. To successfully reorganize as a going concern, the company sought to raise over $8 billion in a super-priority "Debto...Starting at €8.20
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Countrywide plc
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-211026-EFinanceOne of the world's leading investors in distressed companies, Oaktree Capital Management, is contemplating a "loan to own" investment in the debt of Countrywide plc, a financially troubled residential real estate agent based in the U.K. Only sixteen months earlier, Countrywide was acquired by private equity investor Apollo Management L.P. in a leveraged buyout. Although Countrywide is the largest real estate agent in the U.K., and has a strong po...Starting at €8.20
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The Wolf in Cashmere: LVMH's Bid to Acquire Tiffany
Gilson, Stuart C.; Abbott, Sarah L.Case HBS-222054-EFinanceIn November 2019, the iconic U.S. jeweler Tiffany agreed to be acquired by the luxury goods conglomerate LVMH. The $16.6 billion transaction was scheduled to close in mid-2020. However, in 2020, the global COVID-19 pandemic took a toll on the luxury goods sector. In September 2020 LVMH announced that it was backing out of the deal. Tiffany filed suit against LVMH. LVMH countersued, arguing that the pandemic triggered a material adverse effect (MA...Starting at €8.20