Case | HBS Case Collection | July 1990 (Revised August 1990)

Kaiser Steel Corporation, 1950

by Timothy A. Luehrman and William Schiano

Abstract

Examines Kaiser Steel's initial equity offering in 1950. The first case in a sequence that will trace the history of corporate restructurings that occurred 30 to 40 years later, in the 1980s. Subsequent cases examine foreign competition and labor unrest, hostile takeover attempts and LBOs, and bankruptcy and reorganization. Students are asked to recommend a recapitalization for Kaiser Steel in the context of steel industry competitive dynamics, Kaiser's ownership structure, and the U.S. capital markets in 1950.

Keywords: History; Competition; Initial Public Offering; Capital Structure; Restructuring; Capital Markets; Ownership; Steel Industry; United States;

Citation:

Luehrman, Timothy A., and William Schiano. "Kaiser Steel Corporation, 1950." Harvard Business School Case 291-005, July 1990. (Revised August 1990.)