LBT Acquisition Corp. (LBTAC) made a Cdn$24 per share hostile takeover bid for John Labatt Limited (Labatt). Before the Onex bid, Labatt was negotiating a merger with Interbrew S.A./N.V., Belgium's largest brewer. People close to the discussions indicated they had heard rumors that the Dutch Brewer, Heineken N.V., and others were prepared to make bids. The case is from the view of Wood Gundy, the financial advisor to Labatt. The challenge for the pupil is to structure a deal in order to maximize shareholder value.
Learning Objective: The objects of this case are to educate students about: unlocking shareholder value; conceivable market outcomes of negotiation strategies, and the timing and execution of a deal; creating cost pressure.
Publication Date: 12/04/1996
This is just an excerpt. This case is about Finance
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