In 1992, Britain's number one medical research charity. The Wellcome Trust, made the largest fully-paid non-privatisation secondary offering of shares ever to take place on the UK Stock Exchange and internationally. Since the Trust was the dominant shareholder in the drug company Wellcome pic,...

After considering the economic state of the oil industry, particularly its structure and competition, Part One of this Case Study looks at BP Amoco's competitive planning in the last ten years within a framework of shareholder value developed by Thakor, DeGraff and Quinn, the 'strategic value...

In September 1998, the well-known US hedge fund, Long Term Capital Management (LTCM) announced it had lost 44 per cent ($2.1 billion) of its investors' money in August alone, and more than 52 per cent from the beginning of the year. This shock caused the Federal Reserve System to organise a...

Part Two of this Case Study of the US hedge fund, Long Term Capital Management (LTCM), deals with the detail of the fund's September 1998 near-collapse and rescue after it had lost $2.1 billion of its investors' money (44 per cent of capital). Following a profile of LTCM, the Case looks at the...

Following the first demerger of one of its divisions in the United States in 1995, US Industries, the Hanson conglomerate used the experience of this successful spin-off in preparation for its much larger and complete break-up planned for 1996, into four companies: Hanson, Energy, Imperial...