[說說] M&A course lesson 3

1. Lesson 3: tax purpose- this one is just temporary? I think this factor may not be that big, but still not a temporary one. 
2. Case Study C: Convincing Shin Stores to consider Buying Kwon Stores
• Task 1: What arguments will you provide to Shin Stores management in order to encourage them to consider an acquisition of Kwon Stores?
• Acquisition is easier/ less risky/ cut cost to grow the business and takeover customers. If we do not do this, the customers will be taken by other competitors against us. 

• Task 2: You are a major (10%) stockholder in Shin Stores. You are a conservative investor, what arguments will you make against Shin Stores looking at a Kwon Stores deal?
• We will build the customer base by ourselves which is more steady. Plus, it is hard to take a totally different business into our business for us, as we do not have such experience. / overpay

      3. Case study D: 

• Buy competition (market share): Microsoft v. Yahoo, Societe v. Rosbank, TD v. MBNA, SK Tel v. Hanaro Tel, Kinder v. El Paso
• Product line extension: HP v. Autonomy, EA v. Take Two, Pernod v. V&S, Google v. Motorola
• Roll-up: Google v. Motorola
• Strategic (diversification): HP v. Autonomy, Microsoft v. Yahoo, Google v. Motorola
• Private equity: Kinder v. El Paso