1.0 Shareholder Value and the Law Under the management of Mannesmann AG‚ Mannesmann was a highly diversified group of companies operating successfully around the globe. It had 130‚860 employees* generating sales of some 23‚265 million euros* in its Engineering‚ Automotive‚ Telecommunications and Tubes sectors. The enterprise had existed for 110 years. Mannesmann’s Engineering and Automotive sectors comprised five world market leaders with their subsidiaries and affiliated companies. Their 89‚832
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Strategy of Mannesmann to takeover Orange: STRATEGY 1. Block takeover by Vodafone 2. Orange gives Mannesmann a great strategic fit‚ as it increases market share in the UK 3. Vodafone will unlikely be allowed‚ from an antitrust perspective‚ to merge with Mannesmann after the acquisition of Orange; Vodafone already has
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NEGOTIATION COURSE Case Study: The Acquisition of Mannesmann by Vodafone IBM 08‚ 4th Semester Leila Kamali‚ Elvedin Jakupovic‚ Oliver Guggisberg‚ Camille Mendel 16/05/2010 Case Study: The Acquisition of Mannesmann by Vodafone Inhalt Introduction................................................................................................................................ 3 Company Profile ............................................................................................
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Mannesmann vs. Vodafone On A Hostile Takeover December 2000 Martin Marinschek‚ Student ID 9803246 Abstract This paper summarizes the proceedings of the largest merger in the history of the telecommunication business‚ including the two players Vodafone and Mannesmann. Analyzing the history of the two companies‚ the reasons for the merger‚ the merger itself and the outcome of the takeover‚ as well as the impacts on society‚ economy and legislative are the major concerns
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one of the leading international mobile telecommunications companies in the UK‚ launched a formal hostile bid for Mannesmann‚ one of its largest peer companies based in German. Mannesmann has just acquired another large UK wireless operator‚ Orange. Vodafone first offered Mannesmann €138 billion‚ or €266/share‚ which is way higher than its valuation a few weeks ago. But Mannesmann rejected this tender offer and asked for €350/share. Vodafone has to decide whether it should raise the bid or not
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leading international mobile telecommunications companies‚ was considering launching a formal hostile bid for Mannesmann‚ a German telecommunications company which is also among the largest telecommunications companies in Europe. If this come true‚ it will become the largest hostile takeover in the world. But now we are facing one of the biggest problems during this process---valuation of Mannesmann. After our discussion‚ we decide to use the DCF method with the information provided in Exhibit 7 and some
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Vodafone-Mannesmann Case Questions Instructions: Prepare a typed solution of no more than six pages Use the questions below as a guide to your answer. The solution must be a recommendation‚ not a mechanical list of answers On the first page of your solution state: o the names and student numbers of your group members in alphabetical order o the name of the course (Advanced Corporate Finance) and the case (Vodafone) Deadline: Wednesday‚ April 6th‚ 2011‚ 18.55 Venue for delivery: E building
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the Vodafone Case We start of with making the calculations for the premium that Vodafone is going to pay for Mannesmann. We know that Mannesmann will own 47.2% of the equity of the newly combined company. This is 47.2% from € 275 375 million‚ which is €129 997 million. Vodafone is offering 53.7 shares of the value of December 17‚ so € 4‚957‚ for every share of Mannesmann. Mannesmann has 517‚9 million shares‚ so Vodafone would pay 517‚9 million * 53‚7 * € 4‚957 = € 137 860.3 million. This would
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Markteintrittsstrategien Akquisition der Mannesmann AG durch Vodafone Verfasser: Lavinia Cazacu Koordinatorin: Corina Pelau Miruna Cioran Adina Dumitru Inhaltverzeichnis 1. Einleitung 3 2. SWOT-Analyse Vodafone 4 3. Wahl der optimalen Markteintrittsstrategie 4 3.1. Branchenstrukturanalyse - 5 Kräfte von Porter 5 3.1.1. Bedrohung durch neue Anbieter - Niedrig 5 3.1.2. Verhandlungsmacht der Lieferanten
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1a. Value Vodafone 17 dec = sharesVodafone*priceVodafone = 154186‚4042 Value Mannesmann 17 dec = sharesMannesmann*price Mannesman = 121188‚6 Value combo 17 dec = 275375‚0042 Value Vodafone 21 oct = sharesVodafone*priceVodafone = 130206‚9767 Value Mannesmann 21 oct = sharesMannesmann*price Mannesman = 75276‚765 Value combo 21 oct = 205483‚7417 Indicated synergies = (275375‚0042 - 205483‚7417) / 0.6 = 116485‚4374 We devided the difference in combined shareprices by 0.6‚ as the shareprices
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