In response to Daniel Rottig's request, I confirm that the CarpenterStrategyToolbox mentioned by Russ Coff is a great source of inspiration.
Also, I would like to share some of the M&A materials I have developed or used for my course.
v Book: "Build, Borrow or Buy" (Harvard Business Press, 2012) analyzing the different modes of corporate development (internal development, contracts and alliances, and M&As). The M&A mode is treated in Chapter 5 "When to buy"- For an excerpt of this chapter, go to this link (source: European Financial Review).
v Cisco case: I have developed a Cisco-Ironport case that retraces Cisco's acquisition strategy in the 90s and post-millenium. It then focuses on how Cisco should integrate Ironport (bought in 2007). INSEAD Case + teaching note. The case can be nicely accompanied by a Stanford case written on Ironport, written from the perspective of the entrepreneurial seller (IPO vs. acquisition and priorities of private sellers). An article on Cisco's Corporate Development, published in Strategy & Leadership (2013, Vol 41(2):27-30) can complement the cases.
v Acquisition Wave in Fine Chemicals: This is three-case series (306-323-1, 306-325-1 and 306-326-1). It examines M&A issues within the merging firms' broader industry and competitive context. The cases allow MBA and executive participants to analyse a series of deals in 2000 by comparing transaction multiples, average premiums paid, and acquirer stock performance compared with an earlier wave of deals that took place in 1998. Movements in the stock price of the acquirers after the acquisition announcements indicate the likely value creation of each deal and allow us to estimate what a fair price would have been for the targets. The discussion will ultimately lead to the question of why the managers overpaid and the role that irrational herd behavior can play in M&A transactions. This case can be used at an early stage of the course to illustrate how a deal takes place within an acquisition wave, when competitors actions are likely to influence both the decisions to make an acquisition and to determine the acquisition price. Or it can be used at the end of the course to illustrate irrational aspects and herd behavior associated with M&As. INSEAD case + teaching note.
v To find more available cases on M&As that could fit a M&A session, please see:
v China's Haier Group: Growth through Acquisitions(INSEAD #300-129-1; TN)
v Geely's Acquisition of Volvo (HBS #910M57; TN)
v Microsoft-Sendit (INSEAD #303-030-1; TN)
v Shinhan Financial Group (HBS #305075; TN)
v Minsheng Bank (University of Hong Kong #HKU751; TN)
v The Globalization of CEMEX (HBS #701017; TN) (INSEAD)
v Heineken: International Growth & Acquisitions (LBS 307-168-1; TN)
v Royal Ahold: International Growth & Acquisitions(LBS 307-169-1;TN)
v Waitrose in 2009: The Growth Imperative (LBS #309-207-1; TN)
v To find more cases that could fit sessions on Alliances, Corporate Development Portfolio, etc, please visit the following page.
Best
Laurence Capron
In response to Daniel Rottig's request for materials on M&A, here is a link to M&A related materials in the CarpenterStrategyToolbox. This includes readings, videos, and class exercises. See especially the GourmetAdventures exercise – it's great for an executive MBA setting.
-Russ
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Russell Coff, Wisconsin Naming Partners Professor of Strategic Management
bus.wisc.edu/faculty/Russ-Coff | Phone: 608-263-6437 | fax: 608-265-5031