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The full report (approx 15 pages) consists of three parts, please cover the first half, that is from part 1a. to part 2d and focus on the AB InBev merger.
Part 1. Before the acquisition
a. What is the corporate strategy of the acquirer?
b. What is the corporate strategy of the target?
The answers to these questions will cover:
– What businesses are they active in?
– What’s the role of the corporate parent?
– What organizational linkages exist between business units, if any?
– In your opinion, does corporate advantage exist, i.e. is the sum worth more than the individual parts?
Part 2: During the acquisition
a. What are the potential synergies, if any?
b. What were the capital market’s estimates (i.e. based on share price movements) of total synergies and whether these were captured by the acquirer?
c.Suppose that you were a member of the acquirer’s Board of Directors, what questions would you have asked during the Board’s evaluation of the acquisition before voting for approval (or not)?
d. In your opinion, is this a good deal for the acquirer.
For you information, the second part which does NOT have to be written at the moment.
e. In your opinion, is this a good deal for the target?
f. Could this deal have been structured as a strategic alliance instead?
g. What other targets could the acquirer have considered if doing the deal today?
Part 3: After the Acquisition
a. Given the information available at the time of the acquisition, how would you have integrated the companies?
b. How did the companies plan to integrate (i.e. upon announcement)?
c. How did they actually integrate?
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