Brazilian Beer Merger Negotiations: Companhia Cervejaria Brahma, S.A.

• Published in: Darden Business Publishing Cases
• Main Authors: Bruner, Robert F., Chan, Jessica
• Format: Article in Journal/Newspaper
• Language: English
• Published: Emerald 2017
• Subjects: Antarc*; Antarctica
• Online Access: http://dx.doi.org/10.1108/case.darden.2016.000049; https://www.emerald.com/insight/content/doi/10.1108/case.darden.2016.000049/full/xml; https://www.emerald.com/insight/content/doi/10.1108/case.darden.2016.000049/full/html

In May 1999, the CEO of this company (the largest brewer in Brazil) is contemplating a bid for Antarctica, the second-largest brewer in Brazil. The primary motives are to exploit economies of scale and other synergies and to prevent other competitors (mainly foreign multinationals) from acquiring the firm. The tasks for the student are to value the target and buyer, propose an exchange ratio of shares, and generally design the terms of the transaction.