Bidding for Hertz: Leveraged Buyout Harvard Case Solution & Analysis

In August 2005, Carlyle Group and its partners (Clayton, Dubilier & Rice, and Merrill Lynch Global Private Equity) must complete the conditions trying to buy Hertz Corporation. Ford Motor Company has set Hertz, a subsidiary, on sale in April 2005, and in June 2005 he joined the dual process that will lead to its sale or initial public offering (IPO). Housing provides detailed pro forma projections for the transaction, which allow students to study the interaction of the transaction and assess the importance and application for Hertz.

Students should consider whether their proposal provides an adequate return to the sponsors, can produce greater value for Hertz, than you IPO, and may be the best bet rival bidding group. The fact is suitable for use in courses on corporate finance, private equity, or a deal evaluation. Because the rich range of issues that could be addressed, it also works well as a diploma case or in the case of competition. For teachers who want to provide students of the role and practice of private equity, we recommend combining Hertz LBO case with its companion case, "Investments in Securities sponsor IPO: It Hertz" (UV1409). IPO Hertz announced in July 2006, just seven months after the LBO was completed. two cases cover a wide range of issues that arise during the entry and exit of private investment. "Hide
by Susan Chaplinsky, Felicia C. Marston Source: University of Virginia Darden School Foundation 21 pages. Date Published: February 17, 2009. Prod. #: UV1056-PDF-ENG

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