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Remy International Limited (A)

Subject

Entrepreneurship

Publication Year

1995

Abstract

Michael Hoffman and Louis Elson of EM Warburg Pincus were facing what seemed to them yet another in a string of dilemmas relating to one of their investments. Warburg Pincus, the largest venture capital company in the world, was the lead investor in Remy International Limited, a London based reference publishing company. In May 1992 the two men were finalising plans to bid in a US bankruptcy court to purchase one of Remy's main UK competitors. That the acquisition would represent a hostile takeover of a privately-held company was unusual enough. The fact that the Remy shareholders couldn't agree on a valuation of Remy for the capital that would have to be raised to complete the acquisition had complicated Hoffman and Elson's efforts to proceed on the deal. Now the Remy management - who wanted to make the acquisition from the start - were up in arms about how their investors proposed to structure the resulting group and were threatening to undermine their effort to acquire the competitor.

Topic List

Entrepreneurship, Opportunity Assessment, Financing, Exit, Valuation, Venture Capital

Industry

Publishing

Publication Event Date

1986-1992

LBS Case Number

CS-94-044-08

Location

UK

Project Funder

Science Enterprise Challenge

Publication Research Centre

Entrepreneurship, Entrepreneurship

Available on ECCH

No


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