Category winner: H J Heinz M&A

David Stowell and Nicholas Kawar

David discusses what makes a good Finance case and the advantages of using published sources.

Interesting aspect

David said: “Heinz was chosen because it provides an interesting analytical opportunity for students to consider the unique aspects of an acquisition by Warren Buffett, and the community and activist hedge fund aspects of this transaction.”

The perfect Finance case

He added: “The key to producing a good Finance case is creating an interesting cast of protagonists and questions that require both analytical effort and interesting social questions.”

Ethical arguments

David commented: “There’s much debate in the classroom with this case, as there are ethical issues regarding activist hedge funds and community imperatives to consider in a merger and acquisition transaction.

Published sources

He continued: “Whilst field research cases have their place, going beyond with published sources makes a case more interesting and nuanced.”

Final thoughts

David concluded: “After teaching a case several times one always learns ways to improve teaching it and what to emphasize and deemphasise.”

About the authors

David P Stowell is Clinical Professor of Finance at Kellogg School of Management.
e d-stowell@kellogg.northwestern.edu

Nicholas Kawar was an MBA student at Kellogg School of Management when he wrote the case. He is now Vice President at J.P. Morgan.