個案總覽

In January 2017, Canada-based Saputo Inc. was preparing an offer to acquire the remaining shares of an Australian dairy firm, Warrnambool Cheese & Butter Factory Co. Hold. Ltd. (WCB). Saputo Inc. had previously acquired a majority of the equity, but minority shareholders prevented Saputo Inc. from delisting WCB from the Australian Securities Exchange. Although WCB was a publicly traded company, the current share price might not reflect its intrinsic value because its shares were very thinly traded, with most shares being owned by Saputo Inc. and a few minority shareholders. Saputo Inc. had to determine an appropriate offer price for the acquisition.

Student spreadsheet to case W20745

Instructor Spreadsheet to accompany product 8B20N034.

Student Spreadsheet to accompany product 9B20N034.

In January 2017, Canada-based Saputo Inc. was preparing an offer to acquire the remaining shares of an Australian dairy firm, Warrnambool Cheese & Butter Factory Co. Hold. Ltd. (WCB). Saputo Inc. had previously acquired a majority of the equity, but minority shareholders prevented Saputo Inc. from delisting WCB from the Australian Securities Exchange. Although WCB was a publicly traded company, the current share price might not reflect its intrinsic value because its shares were very thinly traded, with most shares being owned by Saputo Inc. and a few minority shareholders. Saputo Inc. had to determine an appropriate offer price for the acquisition.