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Dalian Dexin Pharmaceutical Group: Negotiating With A Sensitive Partner

案例編號 : UST074
HBP產品 : ST74
作者 : Prof Larence FRANKLIN and Kenny YIU
發布日期 : 25.03.2019

撮要

This case is intended to take students through the cycle of a direct investment, during which a number of decisions has to be made by the financial investor as the shareholder of the investee company. In a situation where the financial investor is a minority shareholder, it is of the investor’s best interest to be sensitive to the alignment of shareholders, especially with the controlling/strategic shareholder. When faced with a decision as to whether to maximize value for itself, or share value with the controlling/strategic shareholder, the financial investor should look harder to find creative solutions which can add value to both the minority and the controlling shareholder. Often times, additional investment means additional risk, and the then-current reward/risk balance should be carefully considered, including the then-current fundamentals of the investee company, and the competitive environment of the industry.

學習目標

The goal of the case is to discuss the dynamics among shareholders, specifically in which founder(s) and financial investors are present. The case demonstrates the difference in thinking among shareholders within a company, and how such difference may drive the actions and decision-making process of each shareholder. The discussion will also allow student to learn about right of first refusal (ROFR) and the respective financial considerations.

公司/機構 Dalian Dexin Pharmaceutical Group (Fictitious)
行業 Investing, chinese pharmaceuticals
主要學科 Finance
地區 China, Hong Kong, Asia Emerging Market, Northern China
案例屬性 Fictitious
案例頁數 8
教學筆記 10
補充資料 Presentation slides, Datasheets
出版者 HKUST
最近修訂日期 25.03.2019