**Cases Related to the Global Fin. Crisis & Turnarounds
1) Dow's Bid for Rohm & Haas (HBS #211-020)
> Negotiating acquisitions during a financial crisis
> Acquisition contracts, DCF valuation, synergy value
**HBS Best Seller (Most Popular)
2) VHSS: Valuing Ships—Germany (HBS #210-058)
> Valuation during a crisis—DCV vs Multiples, fire sales
> Banking and contagion during a crisis, liquidity concerns
**HBS Best Seller (Most Popular)
3) Compass Maritime Services (HBS #211-014)
> Valuation during the crisis, regressions analysis
> Global shipping industry
**HBS Best Seller (Most Popular)
4) Thomas Cook Group on the Brink—UK (HBS #215-008)
> Restructuring strategy, taking over, first 100 days
> Leadership during a turnaround
Best-Selling (MOST POPULAR) Cases:
1) Buffett's Bid for Media General (HBS #213-142)
> Valuing decline, Disruption, TV growth rates, Financial distress
2) Generating Higher Value at IBM (HBS #215-058)
> Payout policy, LT earnings guidance, driving corp. change
3) Tempur Sealy International (HBS #717-501)
> Buyer vs. supplier bargaining power, dynamics, value capture
4) The a2 Milk Company (HBS #719-424)
> Compet. adv., mkt. attractiveness, judo strategy, disruption
5) Sandlands Vineyards (HBS #718-438)
> Assess mkt attractiveness & comp. advantage, sustainability
6) Supply Chain Finance at P&G—US/Brazil (HBS #216-039)
> Modern working capital mgmt, supply chains, banking, fin. strategy
7) Canadian Pacific's Bid for NSC Corp--Canada (HBS #216-057)
> DCF valuation, valuing synergies, contingent payments
8) Molycorp (A): Financing Rare Earth Minerals (HBS #214-054)
> Merger contracts, DCF valuation, Financial crisis, Synergy value
9) Valuing Snap After the IPO Quiet Period (A, HBS #218-095)
> Financial strategy, financing growth, DCF valuation, convertible debt
10) De Beers: Diamond Reselling Opportunity (HBS #717-430)
> Strategy execution, scope choices, durable vs consumable goods
> Crafting deliberate vs emergent strategies; experimentation
New M&A Cases:
1) Bega Cheese: Bringing Vegemite Home—Australia (HBS #218-001)
> Linking strategy and finance, valuation roadmap & mechanics
> Value drivers, corporate scope, iconic brands
2) Buffett's Bid for Media General (HBS #213-142)
> Forecasting cash flows, terminal values, and TV growth rates
> Valuing decline, disruption, costs of financial distress
3) Canadian Pacific's Bid for NSC Corp.—Canada (HBS #216-057)
> Comprehensive case—bridging valuation gaps, agency conflicts
> DCF Valuation, contingent value rights, synergy value, activist investor
4) Dow's Bid for Rohm & Haas (HBS #211-020)
> Writing merger contracts, legal terms, risk allocation
> DCF valuation, Impact of the financial crisis, synergy value
5) Impax Labs: Executing Accretive Acquisitions (HBS #220-030)
> EPS accretion analysis & value relevance, Value drivers
> Competing and sustaining advantage in generic pharmaceuticals
6) Bayer: Bidding for Merck's OTC Division—Germany (HBS #217-021)
> Forecasting and valuing synergies
> Bidding strategy, negotiations, corporate strategy, DCF valuation
7) Whirlpool: The Deal for Hefei Sanyo—China (HBS #216-019)
> Entering China (acquiring a Chinese SOE)
> Gaining political, commercial & regulatory approval
8) OldTown Berhad—Malaysia (HBS #218-058)
> Valuing an acquisition offer in 3 ways: DCF, multiples, & price premia
9) Competing Bids for Anadarko Petroleum (HBS #220-087)
> Revie case: valuation, capital structure, M&A, corp. governance
> Bidding war, valuing & financing acquisition offers
New CORPORATE FINANCE Cases:
1) Generating Higher Value at IBM (HBS #215-058)
> Payout policy, LT earnings guidance, driving change, leadership
2) Supply Chain Finance at P&G—US/Brazil (HBS #216-039)
> Modern working capital mgmt, supply chains, banking, fin. Strategy
3) FANUC's Financial & Governance Policies—Japan (HBS #216-042)
> Japanese corporate governance and macroeconomic growth policies
4) Hapag-Lloyd: Complying w/IMO 2020—Germany (HBS #220-003)
> Environ. regulation, evaluating options & addressing uncertainty
5) Molycorp A: Financing Rare Earth Minerals (HBS #214-054)
> Financial strategy, financing growth, DCF valuation, convertible debt
6) Thomas Cook Group on the Brink—United Kingdom (HBS #215-008)
> Leadership, restructuring, change mgmt, fin. strategy, taking over
7) Unidentified Industries: Australia 2014 (HBS #216-014)
> Overview of financial ratios, intro. to financial statement analysis
New VALUATION Cases:
1) Eaton: Portfolio Transformation and Cost of Capital (HBS #221-006)
> Theory & mechanics of WACC, divisional vs corp. WACC, divestment
> An abridged version exists (no appendix deriving the WACC formulas)
2) Valuing Snap After the IPO Quiet Period (A, HBS #218-095)
> DCF valuation, analysts—affiliation bias, terminal value, IPO anomalies
3) Valuing Celgene's CVR (HBS #221-031)
> Incorporating sytematic & diversifiable risks in DCF, CVR motivations
4) United Technologies: Are the Parts > the Whole? (HBS #220-018)
> Corporate strategy, conglomerate discount, and activist investors
> Sum-of-the-parts valuation, capital allocation & internal capital mkts
5) Compass Maritime Services (HBS #211-014)
> Valuation during the fin. crisis, regressions analysis, comparables
6) VHSS: Valuing Ships (Germany) (HBS #210-058)
> Compare mark-to-mkt (comparables) vs mark-to-model (DCF)
> Contagion during the fin. crisis; Fire sales, bubbles, & asset prices
New STRATEGY Cases:
1) The a2 Milk Company—Australia & NZ (HBS #719-424)
> Creating compet. advantage, Assessing market attractiveness
> Selling technology products vs. the underlying IP
> Judo strategy for mkt entry; Incumbent's barriers to response
2) Sandlands Vineyards (HBS #718-438)
> Assess market attractiveness & competitive advantage,
> Sustainability of advantage, vertical integration
3) Bespoken Spirits: Disrupting Distilling (HBS #721-419)
> Disruption, product vs. tech. business models, cost/dual advantage
4) Astralis Group: Determining a Brand Strategy (HBS #721-382)
> Brand strategy (single vs multi), esports, emerging ecosystem
5) De Beers: Diamond Reselling Opportunity (HBS #717-430)
> Strategy execution, cust. value, corporate scope, secondary mkt
6) De Beers: Lightbox for Lab-Grown Diamonds (#719-408)
> Strategy execution, disruption, commoditization, differentiation
7) Tempur Sealy International (HBS #717-501)
> Buyer vs. supplier bargaining power, dynamics, value capture
8) MoviePass: The "Get Big Fast" Strategy (#719-455)
> Profit vs. growth, racing for customers, value of data
9) Gillette: Cutting Prices to Gain Share (HBS #720-378)
> Price wars; Calculating & using price elasticities of demand
> Product positioning; vertical differentiation
10) Navistar-PACCAR (HBS #717-452)
> Estimating customer value, value/premium advantage, strategic choices
11) TransDigm in 2017 (HBS #720-422)
> Value creation vs capture, bargaining power, business ethics
> Creating and sustaining competitive advantage
12) TransDigm: Acquiring & Integrating Arkwin (HBS #720-467)
> Value drivers, value-based pricing, limit pricing, M&A integration
13) TransDigm: The Acquisition of Aerosonic (HBS #720-480)
> M&A negotiations, merger agreements, valuation analysis