In late summer 2003, The Blackstone Group LP was contemplating whether to launch a tender offer for Celanese AG’s common shares as part of a friendly takeover. The transaction, if successful, would constitute the largest European public-to-private transaction in history.
Students play the role of either Celanese or Blackstone and conduct due diligence, establish deal terms, and respond to bids and counter-bids, all while balancing interests of other stakeholders.
- Explore different valuation methods (capital cash flow, equity cash flow) and valuation models (leveraged buyouts)
- Investigate how to structure and finance private equity deals
- Understand the importance of due diligence and deal negotiations
- Leveraged Buyouts
- Mergers and Acquisitions
- Financial Valuation
- Due Diligence
See How the Simulation is Played
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