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Case
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Reference no. 304-071-1
Published by: INSEAD
Originally published in: 2004
Version: 06.2014

Abstract

This is the fourth of a five-case series. The case series illustrates the decision-making process and the negotiation complexities of a leveraged buy-out proposal made by Italtel management to their holding company, Telecom Italia. In addition to Telecom Italia and Italtel's perspectives, the cases examine the point of view of the two perspective joint acquirers: Cisco Systems and Clayton Dubillier & Rice, a leading private equity investment house. The case aims to illustrate and discuss the strengths, weaknesses and complementarities of synergistic, as well as non-synergistic value creation in corporate acquisitions.
Location:
Industry:
Size:
Large, 4,500 employees
Other setting(s):
1999

About

Abstract

This is the fourth of a five-case series. The case series illustrates the decision-making process and the negotiation complexities of a leveraged buy-out proposal made by Italtel management to their holding company, Telecom Italia. In addition to Telecom Italia and Italtel's perspectives, the cases examine the point of view of the two perspective joint acquirers: Cisco Systems and Clayton Dubillier & Rice, a leading private equity investment house. The case aims to illustrate and discuss the strengths, weaknesses and complementarities of synergistic, as well as non-synergistic value creation in corporate acquisitions.

Settings

Location:
Industry:
Size:
Large, 4,500 employees
Other setting(s):
1999

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