Cornell Takes 4th Place in the Univ. of Chicago IPO Challenge
An interdisciplinary team of Cornell graduate students recently took 4th place, and #1 among US Universities, in the University of Chicago Booth National Initial Public Offering Challenge. Over 86 teams competed in the largest-ever Challenge with 18 teams qualifying for the finals. With the fourth place tie, Cornell claimed the top spot from the US Business Schools as the London Business School took the top three places in the competition.
The Cornell team consisted of Program in Real Estate/MBA dual degree students Derek Sam (MBA, MPS-RE 2011), C. Tyler Williams (MBA, MPS-RE 2011), and Clifton Coffey (MBA, MPS-RE 2011) along with MBA students Reece Kresser (MBA 2010) and Christopher Donini (MBA 2010).
The first-round case was in the area of healthcare, calling for a proposed solution to Bristol-Myers Squibb’s (BMS) possible liquidation of Mead Johnson. Cash from the transaction would be used to acquire another pharmaceutical or biotech firm to address BMS’s expiring patents. The final round case called for an analysis and proposal on the VISA initial public offering for the major bank-owners who owned the company.
The Initial Public Offering Challenge showcases top business school talent competing to win a mandate to underwrite an initial public offering (IPO). First and second year MBA students from leading business schools analyze the proposed offering, develop a structure and price for the transaction, and deliver their presentation to a Board of Directors, comprised of investment banking industry practitioners and leading professors. The structure of the competition is designed to simulate the analysis, preparation and delivery that investment bankers engage in when competing to win an IPO mandate.
For additional information on the competition, please visit: http://www.chicagobooth.edu/fulltime/academics/curriculum/concentrations/finance.aspx .
To find out more about Cornell’s Program in Real Estate, please go to:http://www.realestate.cornell.edu