M&A in Wine Country

Three publicly traded wine producers—Bel Vino, Starshine, and International Beverage—are locked in a high-stakes struggle to shape the future of their industry. As CEO of one of these firms, you face a volatile market where shifting analyst projections, fluctuating stock prices, and whispers of synergies put every company in play. Armed with confidential financial data, discounted cash-flow valuations, and real-time market feedback, you must decide not only what your company is worth—but what an acquisition target might be worth to you.

The simulation unfolds in two tense rounds. First, you determine reservation prices for both Bel Vino and Starshine, relying on valuation methods like WACC-based DCF, APV, and market multiples to interpret the financials and forecast potential synergies. Then, as bids go public, rivals respond with counteroffers, stock prices move in real time, and a built-in chat allows you to negotiate live—all while pursuing the goal of maximizing your own shareholders’ value. Competitive pressures escalate as new offers appear on the screen, and players must decide whether to walk away, sweeten the deal, or strike quickly before another bidder steps in.

Ultimately, the simulation mirrors the exhilarating and unforgiving landscape of real-world M&A: imperfect information, hard valuation choices, strategic negotiations, and the ever-present tension between value creation and value transfer. The outcome depends not just on the numbers—but on how effectively you negotiate under pressure.