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Innovation through M&A: Promega's Taxable Acquisition of Ophidian
Frank, Mary Margaret; Harrison, LisaCase DARDEN-C-2432-EAccounting and ControlThe tax director for Promega Corporation (Promega), was finalizing a deal to buy Ophidian Pharmaceuticals, Inc. (Ophidian), and needed to settle on a deal structure. Given that the consideration paid for Ophidian was going to be primarily cash, the deal would be taxable. The question for her to address was: Should Promega buy the assets or stock of Ophidian? She had to consider the after-tax consequences to Promega and Ophidian from the different...Starting at €8.20
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Differences between Financial Accounting and Tax for Valuation in M&A
Frank, Mary Margaret; Elmore, Frederick A.Technical Note DARDEN-C-2421-EAccounting and ControlThis technical note outlines the differences between financial accounting standards and tax law that affect the valuation of potential targets depending on the deal structure employed. Valuation models typically rely on financial accounting information to estimate the value of the deal; but tax laws, not financial accounting standards, affect the after-tax cash flows attributable to the deal. The note provides steps to determine a target’s tax b...Starting at €8.20
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The Value of Net Operating Losses
Frank, Mary Margaret; Right, Jonathan M.Technical Note DARDEN-C-2256-EAccounting and ControlThis technical note provides an overview of the tax law governing the use of a target's net operating losses (NOLs) and other tax attributes by the acquirer. Every transaction requires the acquirer to assess the impact of any limitations under the tax law on the use of the target's NOLs. Because these limitations affect the value of the NOLs, they affect the price the acquirer is willing to pay for the loss corporation and ultimately the optimal ...Starting at €8.20
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Alcatel S.A. and Lucent Technologies: The Effect of Acquisitions on Net Operating Losses
Frank, Mary Margaret; Right, Jonathan M.Case DARDEN-C-2257-EAccounting and ControlThis brief case asks students to assess the impact of an acquisition on the valuation of a company's net operating losses. Specifically, students assess whether an article discussing Alcatel S.A. s acquisition of Lucent has assessed the correct value of Lucent's net operating losses. The case requires students to use the companies' financial statement information and a related technical note on the valuation of net operating losses in acquisition...Starting at €8.20
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Apple B
Mary M. Crossan; William T. WatsonCase IVEY-9B12M028-EEntrepreneurship, Leadership and People Management, StrategyThis case is a supplement to Apple A.Starting at €8.20
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Apple B (Spanish version)
Mary M. Crossan; William T. WatsonCase IVEY-9B12MS028Entrepreneurship, Leadership and People Management, StrategyThis case is a supplement to Apple A.Starting at €8.20
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Apple A
Mary M. Crossan; William T. WatsonCase IVEY-9B12M027-EEntrepreneurship, Leadership and People Management, StrategyThe Apple A and B cases provide two different perspectives on the evolution of the computer and electronics firm Apple and are designed to evoke debate about models of strategy, organization, and leadership. The A case presents the story of Apple from a hindsight rational analytic perspective in which students are able to apply a variety of models about strategy, organization, leadership, and innovation. The B case presents a more nuanced, critic...Starting at €8.20
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Apple A (Spanish version)
Mary M. Crossan; William T. WatsonCase IVEY-9B12MS027Entrepreneurship, Leadership and People Management, StrategyThe Apple A and B cases provide two different perspectives on the evolution of the computer and electronics firm Apple and are designed to evoke debate about models of strategy, organization, and leadership. The A case presents the story of Apple from a hindsight rational analytic perspective in which students are able to apply a variety of models about strategy, organization, leadership, and innovation. The B case presents a more nuanced, critic...Starting at €8.20