Re: M&A Course

[Kailash Jayaswal]

Some of you  wrote to me , saying they did not get  the softcopy of the M&A  book.  hence re-sending.  sorry if this is a redundant attachment for you.

Also attaching the "Monmouth" problem sheet  .. need to prepare its solution for next M&A class.

Sat, Jul 20, 2013 at 9:57 AM, Kailash Jayaswal <jaya...@gmail.com> wrote:

attaching a softcopy of the  M&A  book  ---- fifth edition

[Kailash Jayaswal]

Ravindra,

good point.   We can jointly , as a Bangalore team,  prepare a solution file.  The  next M&A  class is on Aug 24  (if I recall right). We can start  after this  week-end's  exams.

On Thu, Aug 1, 2013 at 10:09 AM, Ravindra Prasad <ravindr...@yahoo.com> wrote:

Bangalore team got big responsibility to do the M&A Excercise. Did any of you start already?

 

Regards,

Ravi

 

   

[Kailash Jayaswal]

Let us discuss over email. 

(1) we  need to   prepare a  synopsis of the case study in WORD file. It is  10 page PDF

(2) then we need to  prepare the solution 

On Thu, Aug 15, 2013 at 9:52 AM, Srinivas Chetan <sriniva...@gmail.com> wrote:

Let us prepare in the next couple of days and connect through phone/mail on Sunday to discuss. Sunday afternoon good?

On Wed, Aug 14, 2013 at 3:56 PM, Meera Nagaraju <Meera_N...@infosys.com> wrote:

Are we preparing for M & A exercise? How do we proceed for this?  We have class on 24 Aug 2013.

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[Kailash Jayaswal]

All,

Here  is a short note (or a brief synopsis)  of the  Monmouth case study.  We need to

(1)  identify  a few questions that Prof  may ask us and

(2)  develop solutions for the same.

if anyone has written some notes on the case study, Please share . I  will  not be able to participate on conf call on Sunday.

 

 

 

		Plot of the  M&A   case  study -- MONMOUTH
1.       Harry Vincent  of Monmouth    CMP:  24  $ per share		1.       Looking to buy  improve investor & Wall Street sentiment towards his company. He plans to  buy  Robertson Tools Company   2.
2.       They established 3 investment criteria		1.       The industry should be one where Monmouth could become a major player 2.       Should  be a stable industry 3.       Target must be a leading player in its market segment ..  Hence successfully  acquired: 1.       Dessex- Rule company  from Michael Rudd and Jim Hackett 2.       Keane Corporation 3.       Kroll  Electric  Corporation
3.       Robertson Tools Company        CMP:  44 $ per share		Problems: 1.      Low PE  ratio 10 – 14,  (cf  industry PE was 12 – 15) 2.      Poor sales 3.      Stock  price was below book value of 53$ per share Basic competitive strength 1.      Distribution system= 48 direct sales + 28 sales engineers marketed to 2,100 hardware wholesalers + 15,000 retail outlets 2.      International: 140 sales reps in 137 countries
4.       Simmons  Company		1.      Interested in buying  Robertson 2.      Had bot 44,000 shares of Robertson in 2000 3.      March 3  2003 – informed Robertson of intent to pay $42 per share in cash  to get  437,000 shares (out of total outstanding base of 584,000 shares) to 4,200 share holders.  CMP=30$ . there was a $12 premium per share 4.      Offer will terminate on April 4  2003
5.       NDP     CMP:  10 $ per share		1.      Publishing company 2.      Offered 5 shares of NDP 1 for 1 share of Robertson 3.      However NDP shares had recently traded at  4 ½ $   , which at 5X = 23$ (far below 53$ and 42$ offered by Simmons) 4.
6.

On Thu, Aug 15, 2013 at 11:11 AM, Ravindra Prasad <ravindr...@yahoo.com> wrote:

I am fine with Sunday afternoon.  

Regards,

Ravi

 

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From: Kailash Jayaswal <jaya...@gmail.com>
To: Srinivas Chetan <sriniva...@gmail.com>
Cc: Meera Nagaraju <Meera_N...@infosys.com>; Ravindra Prasad <ravindr...@yahoo.com>; Meera Nagaraj <meer_n...@yahoo.com>; "smp09ba...@googlegroups.com" <smp09ba...@googlegroups.com>; parag mathur <par...@hotmail.com>; Deepak Mulajkar <mula...@gmail.com>; "chenn...@gmail.com" <chenn...@gmail.com>; "venug...@gmail.com" <venug...@gmail.com>; "prav...@outlook.com" <prav...@outlook.com>; "dinesh...@gmail.com" <dinesh...@gmail.com>; "nagend...@gmail.com" <nagend...@gmail.com>; "biplab....@gmail.com" <biplab....@gmail.com>; "svishwa...@gmail.com" <svishwa...@gmail.com>; "hegde...@gmail.com" <hegde...@gmail.com>; "cheta...@hotmail.com" <cheta...@hotmail.com>; "aditya....@gmail.com" <aditya....@gmail.com>; "indiramu...@gmail.com" <indiramu...@gmail.com>; "niki...@gmail.com" <niki...@gmail.com>; "mohana.m...@ge.com" <mohana.m...@ge.com>; "lakshmikant...@gmail.com" <lakshmikant...@gmail.com>; "murugan.kr...@gmail.com" <murugan.kr...@gmail.com>; "vgr...@yahoo.com" <vgr...@yahoo.com>; Manikandan A S <manikan...@gmail.com>; Lakshmi Pillai Ratnaparkhe <lakshmip...@yahoo.com>
Sent: Thursday, 15 August 2013 11:03 AM
Subject: Re: M&A Excercise

[Deepak Mulajkar]

Hi All,

Please share the screenshots of the solutions of Monmouth(and other) case study if any of you have it.

Regards,

Deepak