Ivey Business School (Canada)
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Canadian Arrow Mines: The Nickel Price
Ron MulhollandCase IVEY-9B17M037-EEntrepreneurship, StrategyIn 2016, Canadian Arrow Mines Limited (CRO) had a promising nickel property, the Kenbridge deposit, located 70 kilometres southeast of Kenora, Ontario. The spot had been the site of significant exploration in the past. Further exploration by CRO had indicated that it could be profitable. CRO had spent close to CA$10 million on redevelopment, and needed a further $3 million for the final feasibility study before going into full operation. In 2007,...Starting at €8.20
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Cargill: Keeping the Family Business Private
Ruth S.K. Tan; Yupana WiwattanakantangCase IVEY-9B15N022-EFinanceWhen Margaret A. Cargill passed away in 2006, her 17.5 per cent stake in Cargill went to Margaret A. Cargill Philanthropies (MAC). MAC lobbied for her stake to be liquidated. Cargill proceeded to shed its 64 per cent stake in Mosaic, North America’s second-largest fertilizer company, in exchange for Margaret Cargill’s stake in the company, in order to maintain control over the company. Like many second- and third-generation family businesses, Car...Starting at €8.20
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Neptune Orient Lines: Valuation and Capital Structure
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina ZhangCase IVEY-9B17N007-EFinance, StrategyNeptune Orient Lines Limited (NOL) was started as Singapore’s national shipping line to facilitate industrial development and support the economy. The CMA CGM Group (CMA CGM) had acquired 67 per cent of NOL from Temasek Holdings Private Limited for SG$2.3 billion or $1.30 per share—a 6 per cent premium over the last closing price. In 2016, CMA CGM sought to acquire the remaining shares at the same price so that it could delist NOL and take it pri...Starting at €8.20
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Standard Chartered PLC: Riding the Market During Corporate Restructuring
Weina Zhang; Ruth S.K. Tan; Zsuzsa R. HuszarCase IVEY-9B18N004-EFinance, StrategyIn early 2014, Standard Chartered PLC, a British multinational banking and financial services company headquartered in London, England, announced its restructuring plan. The announcement triggered positive reactions in both stock and bond markets. Nevertheless, the eventual profitability was not what was expected. Moving forward into 2015, how would a rational investor have taken advantage of such a corporate restructuring event?Starting at €8.20
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De Beers Canada: The Attawapiskat Context
Ron MulhollandCase IVEY-9B16M171-EStrategyDe Beers, a sophisticated, international mining company, operated the Victor Mine, an open pit diamond mine in Canada, located within traditional territory claimed by the Attawapiskat First Nation. To develop the mine, De Beers had to follow provincial and federal legislation, meet environmental standards, and most importantly, negotiate use of the land with the First Nation. Although the mine was successful, the First Nation community was suffer...Starting at €8.20
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Mistura Beauty Solutions
Ron Mulholland; Anthony Davis; Amanda Goupil; Christine Harvey; Kyle MarcusCase IVEY-9B12A034-EEntrepreneurship, MarketingA four-year-old cosmetics company is experiencing the typical difficulties of a company evolving from a mom-and-pop operation to a scalable, systems-driven organization. The CEO and founder recognized a problem and opportunity with foundation makeup. She developed a self-adjusting, hard-powder makeup for use on any skin tone. Following an appearance on a reality TV show for entrepreneurs and numerous other promotional measures, the company’s sale...Starting at €8.20
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Royal Bhutan Airlines — Drukair
Ron MulhollandCase IVEY-9B12A030-EMarketing, StrategyThe chief executive officer of Royal Bhutan Airlines (Drukair) is concerned about growth and the seasonality of demand for Bhutan’s national airline. The Kingdom of Bhutan, with a population of approximately 700,000, is located east of Nepal between India and China (Tibet). It has recently embarked on a program of modernization, including a move to democracy and promotion of tourism. The tourism initiative is described as “high value, low volume,...Starting at €8.20
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CapitaMalls Asia: A Buyout Offer from CapitaLand
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina Zhang; Shao Yu HongExercise IVEY-9B19N012-EFinance, StrategyOn April 14, 2014, CapitaLand Limited, a Singapore-based real estate company, launched a voluntary conditional cash offer of SG$2.22 for each share (SG$3.06 billion in total) of its subsidiary commercial property development and management company, CapitaMalls Asia Limited (CMA). CMA’s principal business strategy was to invest in, develop, and manage a diversified portfolio of real estate used primarily for retail purposes in Asia. CapitaLand’s o...Starting at €8.20
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CapitaMalls Asia: A Buyout Offer from CapitaLand - Teaching Note
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina Zhang; Shao Yu HongTeaching Note IVEY-8B19N012-EFinanceTeaching note for product 9B19N012.Starting at €0.00
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Lyxor ChinaH Versus Lyxor MSIndia: Portfolio Risk and Return
Ruth S.K. Tan; Zsuzsa R. Huszar; Weina ZhangExercise IVEY-9B16N004-EFinanceIn September 2015, Susie reflected on the performance of her personal investment portfolio over the past seven years. Susie had invested in two exchange traded funds (ETFs): Lyxor ChinaH and Lyxor MSIndia. She was now considering Lyxor USDJIA as a third ETF to diversify her risk. This analysis would involve the concept of portfolio diversification and the application of the capital asset pricing model. In addition, Susie would need to calculate m...Starting at €8.20