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A “Compelling and Pre-emptive Offer for the Valspar Corporation
Mark SimonsonCase IVEY-9B16N063-EFinanceIn May 2015, the chief executive officer (CEO) of the Valspar Corporation (Valspar) contacted the CEO of an industry competitor to discuss a potential strategic combination of the two companies. As discussions continued, Valspar’s board and senior management realized that an alternative strategic collaboration might be more beneficial, so Valspar then contacted the CEO of the second-largest comparable firm in the industry, Sherwin-Williams, which...Starting at €8.20
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Blackstone Group: Dry Powder in an LBO Drought (B)
Mark SimonsonCase IVEY-9B20N019-EFinanceSupplement for product 9B20N018.Starting at €5.74
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Betting on DraftKings
Mark SimonsonCase IVEY-W27949-EAccounting and Control, FinanceARK Investment Management LLC (ARK)’s Next Generation Internet ETF (exchange traded fund) accumulated over 5 per cent of the outstanding shares of DraftKings Inc. (DraftKings), which held 24 per cent of the emerging US online sports betting market. Following the legalization of sports betting in May 2018, DraftKings faced escalating competition as competitors spent heavily on advertising and promotions to attract customers. This spending led to i...Starting at €8.20
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Insider Trading Without Cooling Off
Mark SimonsonCase IVEY-W33791-EFinance, StrategyIn May 2021, the majority shareholder and chief executive officer of Ontrak Inc., a US health care services company, established two 10b5-1 trading plans to sell approximately one million shares of stock he acquired by exercising expiring warrants. Before he began the process to execute the first 10b5-1 plan, Ontrak Inc. had just lost its largest client. Three days into the process for the second 10b5-1 trading plan, the company announced that it...Starting at €8.20
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Aerojet Rocketdyne Holdings, Inc.: Sum of the Parts
Mark SimonsonCase IVEY-W25118-EAccounting and Control, FinanceIn 2016, US firm Aerojet Rocketdyne Holdings, Inc. (Aerojet) had been developing and manufacturing propulsion systems for rockets and armaments for long-range weapons systems for over 70 years. It also owned 4,634 hectares of land and an investment portfoStarting at €8.20
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Blackstone Group: Dry Powder in an LBO Drought (A)
Mark SimonsonCase IVEY-9B20N018-EFinanceIn late 2016, it had been three years since Blackstone Group Inc. (Blackstone) had completed its last public-to-private leveraged buyout (LBO), and it had US$45 billion of capital available for investment, called “dry powder.” Blackstone’s head of privateStarting at €8.20
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Arla Foods - Matching Structure With Strategy
Jean-Louis Schaan; Ramasastry ChandrasekharCase IVEY-9B13M112-EStrategyIn early 2013, the head of business development and commercial operations of Arla Foods, a dairy enterprise focused on Northern European markets, is examining, in the light of a new five-year strategy, alternatives to the existing organization structure. His dilemma is to determine the best structure that can deliver the strategy, which is focused on renewed international expansion. The new structure must support the company's strategy in relatio...Starting at €8.20
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Square, Inc.: Financing a Unicorn
Mark SimonsonCase IVEY-9B17N021-EEntrepreneurship, FinanceIn 2014, mobile payment company Square, Inc., based in San Francisco, California, was one of an increasing number of venture capital financed firms with valuations above US$1 billion, which had become known as unicorns. By September 2014, the company had raised $371 million over five rounds of venture capital financing. Since the first funding round had been almost five years previous, it was possible that venture funding investors would be pushi...Starting at €8.20
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Dr. Reddy's Laboratories (B)
Jean-Louis Schaan; Ramasastry ChandrasekharCase IVEY-9B08M065-EStrategyThis supplement to Dr. Reddy's Laboratories (A), product # 9B08M064, looks at the two years post-acquisition and examines a major risk which, as it unfolded, brought the viability of the business model into question.Starting at €5.74
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Dr. Reddy's Laboratories (A)
Jean-Louis Schaan; Ramasastry ChandrasekharCase IVEY-9B08M064-EStrategyDr. Reddy's Laboratories (Dr. Reddy's), a large pharmaceutical company in India, is trying to acquire the fourth largest generics manufacturer in Germany. Dr. Reddy's quoted $570 million in a competitive bidding situation. The company's chief negotiator is getting ready to close the deal if selected. Students will examine the issues for the chief negotiator, such as: is the price right, is the fit strategic, will the acquisition add value, how ca...Starting at €8.20