ADECCO SA’S ACQUISITION OF OLSTEN CORPORATION 1. How has Adecco been able to outperform its rivals in the staffing industry? What is the strategic and economic rationale for its acquisition of Olsten? 2. Evaluate Olsten’s strategic and financial conditions as of mid-1999‚ in particular its funding needs and resources. 3. Based on Adecco’s pro forma estimates of the staffing business of Olsten in Exhibit 13‚ what is your estimate of total enterprise value? For this calculation make the following
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35200 Corporation Finance Section 01 Professor Amit Seru Winter 2015 Adecco March 11th‚ 2015 Student ID/Name (by last name): 446630 ChunFeng (Cathy) Hsu 446598 Bing Jiang 446686 Yingxue (Ian) Li 446578 Xinye (Cindy) Ma 446666 Yu (Sonia) Song I pledge my honor that I have not violated the Honor Code in preparation of this case assignment. Signatures ： _______________________________________________________________ 1. How has Adecco managed to outperform its rivals in the staffing industry
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1. How has Adecco managed to outperform its rivals in the staffing industry? What is the rationale for acquiring Olsten? Adecco has been nourishing high profits from its global strategy to become the number one or two staffing service firm in each of the major global markets. The firm has had the consistent strategies 1) to achieve fast growth via both organic growth and acquisitions and 2) to gain national market share‚ at least 20% market share in all major markets‚ as historically there has
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The Agency Problem and Control of the Corporation‚ Mergers and Acquisitions The Agency Problem and Control of the Corporation Corporate managers are the agents of shareholders. This relation creates a problem for shareholders who must find ways to induce managers to pursue shareholders interests. Financial managers do act in the best interest of the shareholders by taking action to increase the stock value. However‚ in large corporations ownership can be spread over a huge number of stockholders
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to the conclusion the best option for Oliveology is to be an S Corporation. There are many benefits of this entity status. One of the largest benefits is no double taxation. The shareholders are only taxed at the shareholder level. Also‚ unlike a partnership‚ where all the partners are subject to self-employment tax on income from the firm‚ only wages earned are subject to a self-employment tax in an S corporation. In an S corporation shareholders may be employees‚ and the wages paid are deductible
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business‚ but he is debating whether to start a S corporation or a C corporation due to potential environmental factors associated with his business. He wants to maintain a limited liability and wants to avoid double taxation by paying himself a salary equal to his companies before tax earnings. He also would like to issue preferred stock to his son in the future to keep his interests in the business. He was advised by his friend to choose a C Corporation to maintain maximum flexibility in the business
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Founded in 1978‚ Sa Sa has grown from a 40 sq. ft. retail space to become today’s regional "beauty". According to the "Retail Asia-Pacific Top 500" ranking of Retail Asia magazine and Euromonitor in 2014 the Sa Sa holdings is a topmost company in the Hong Kong. As one of the largest sole agents in cosmetics in Hong Kong‚ Sa Sa represents over 100 international beauty brands in Asia. Sa Sa prospers on its successful and proven "one-stop cosmetics specialty store" concept‚ offering customers with
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Introducing the Sa Sa International Holding Limited (China) Sa Sa International Holding Limited‚ a Hong Kong leading cosmetics retailing group in Asia. Sa Sa has approximately 220 stores and retail counters across different regions in Asia. Together with it owns brand and other international brands; Sa Sa offered over 600 brands of skin care‚ and fragrance‚ make-up and hair care products. In 2005‚ in order to track the fast growing trend of China Cosmetic industry‚ Sa Sa International Holding Limited
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The Effectiveness and Efficiency of Mergers and Acquisitions by the Example of JP Morgan Corporation Julia Kravchuk 3rd year student of International Relations Department KROK University Submitted in partial fulfillment of the requirements of the Business English course Lecturer: Tetyana Karpova June 2011 Abstract Mergers and acquisitions are considered to be quite effective methods for a company’s growth‚ its development and‚ what is more‚ decrease in the number of competitors by taking
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of Bouvet Ladubay SAS‚ a Company in France engaged in manufacture of wines. This acquisition has been made by Asian Opportunities and Investments Limited‚ a wholly owned subsidiary of USL in Mauritius. The acquisition involved the purchase of entire share capital of Bouvet Ladubay SAS for a consideration of Euro 14.75 Million. o 2007: United Spirits Limited‚ the flagship of The UB Group acquired a hundred percent of Whyte & Mackay for £595m. It is one of the major acquisitions. o 2008 : United
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