Finance Simulation

M & A in Wine Country

$150 / seat

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Simulation Overview

Students play a role on the management team at one of three wine producers. Each player evaluates the other companies, and can attempt to merge or become a potential acquisition target.

The Story

As CEO one of three publicly-traded wine producers, each student evaluates merger and/or acquisition opportunities among the three companies. Students determine reservation prices, value targets, and negotiate deal terms before deciding whether to accept or reject final offers. Each company’s stock price reacts to the bidding activity, and all bids are public, creating a competitive and fast-paced negotiation environment.

Learning Focus

  • Investigate different valuation models, including discounted cash flow, adjusted present value, and multiples
  • Explore value creation during a merger or acquisition
  • Understand differences between equity transactions and cash deals

Topics Covered

  • Mergers and Acquisitions
  • Negotiations
  • Financial Valuation

Additional Information

Duration

1 to 3 hours including introduction and debrief

See How the Simulation is Played


This simulation is by Harvard Business School Publishing and Forio

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