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  • March 1998
  • Case
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Bumper Acquisition (A2), A: Confidential Information for Medallion Capital, Inc.

By: James K. Sebenius and David T. Kotchen
  • Format:Print
  • | Pages:28
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Abstract

Located in Mundelein, IL, Thermo-Impact, Inc. is a rapidly growing, private firm that manufactures automotive bumpers. In 1995, a number of large automotive supply companies and a private equity investment firm offer to buy Thermo-Impact. The cases in this series focus on the offer made by the private equity investment firm, New York-based Medallion Capital, and subsequent negotiations between a Medallion principal and Thermo-Impact's owners. This case provides background information on Thermo-Impact and Medallion, as well as a description of Thermo-Impact's emergence as an attractive acquisition target. Concludes with the terms of a buyout offer sent by Medallion to the owners of Thermo-Impact. The offer serves as a starting point for students to negotiate the possible transaction, with some students representing Thermo-Impact and others representing Medallion. Contains confidential information for Medallion counterparts. Teaching Purpose: Designed to provide students with a realistic experience in negotiating the sale of a rapidly growing, entrepreneurial firm. Allows students to negotiate the transaction in small groups outside of class. Can be taught over a span of two or three class periods. Allows students to formulate responses to unexpected developments that arise in the course of the Thermo-Impact/Medallion negotiation, as well as to convey a sense of the often lengthy and complex nature of negotiating buyouts.

Keywords

Private Equity; Valuation; Negotiation Participants; Decision Making; Negotiation Process; Entrepreneurship; Negotiation Offer; Acquisition; Manufacturing Industry; Auto Industry; Illinois

Citation

Sebenius, James K., and David T. Kotchen. "Bumper Acquisition (A2), A: Confidential Information for Medallion Capital, Inc." Harvard Business School Case 898-199, March 1998.
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About The Author

James K. Sebenius

Negotiation, Organizations & Markets
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Related Work

    • March 1998
    • Faculty Research

    Bumper Acquisition (B), A

    By: James K. Sebenius and David T. Kotchen
    • March 1998 (Revised August 2000)
    • Faculty Research

    Bumper Acquisition (C), A

    By: James K. Sebenius and David T. Kotchen
Related Work
  • Bumper Acquisition (B), A By: James K. Sebenius and David T. Kotchen
  • Bumper Acquisition (C), A By: James K. Sebenius and David T. Kotchen
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