Publications
Publications
- October 1987 (Revised November 1991)
- HBS Case Collection
Fiat--1986
By: W. Carl Kester and Richard P. Melnick
Abstract
Describes Fiat's 1986 Euro-equity offering of $2.1 billion of stock. The offering proved to be highly problematic, particularly for the lead manager, Deutsche Bank, and raises questions about the future of the Euro-equity market. Students are provided opportunities to analyze what went wrong. Numerous specifics about the execution of the deal are open to criticism. However, it also appears that the adverse signalling consequences of such a large equity sale played a decisive role in the offerings failure.
Keywords
Citation
Kester, W. Carl, and Richard P. Melnick. "Fiat--1986." Harvard Business School Case 288-003, October 1987. (Revised November 1991.)
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