The M&A "Pitch Book": Proposed Acquisition of Heller Financial by United Technologies Corporation

56 Pages Posted: 21 Oct 2008

See all articles by Robert F. Bruner

Robert F. Bruner

University of Virginia - Darden School of Business

Allison Bridges

University of Virginia - Darden School of Business

Jessica Chan

University of Virginia - Darden School of Business

Miguel Palacios

University of Virginia - Darden School of Business

Abstract

This technical note offers an example of a thoroughly complete "pitch book" for use as a basis of class discussion and learning. Actual pitch books are almost never made available for public use. This presentation, however, was prepared by a group of Darden students in April 2001 for a jury of M&A executives of United Technologies Corporation—they judged this work to be of excellent quality, among the best they had seen in any setting. A separate validation of the deal concept is given in the final exhibit, which records the announcement on July 30, 2001, by General Electric of its acquisition of Heller. In reviewing this document, the task for the student is to assess both its form and contents, from the standpoints of both the presenter and audience. Why is each exhibit and section included in the document? What analytical work underpins the exhibits? What might explain the presentation format? What oral comments might one make in supporting this presentation to a group of executives?

Excerpt

UVA-F-1338

Version 2.0

The M&A “Pitch Book”:

Proposed Acquisition of Heller Financial

By United Technologies Corporation

This technical note offers an example of a complete “pitch book” for use as a basis of class discussion and learning. Actual pitch books are almost never made available for public use. This presentation was prepared by a group of Darden students in April 2001 for a jury of M&A executives from United Technologies Corporation—they judged this work to be of excellent quality, among the best they had seen in any setting. A separate validation of the deal concept is the fact that General Electric announced its acquisition of Heller three months later.

. . .

Keywords: mergers and acquisitions, Management Communications, investment analysis

Suggested Citation

Bruner, Robert F. and Bridges, Allison and Chan, Jessica and Palacios, Miguel, The M&A "Pitch Book": Proposed Acquisition of Heller Financial by United Technologies Corporation. Darden Case No. UVA-F-1338, Available at SSRN: https://ssrn.com/abstract=909704 or http://dx.doi.org/10.2139/ssrn.909704

Robert F. Bruner (Contact Author)

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

HOME PAGE: http://faculty.darden.edu/brunerb/

Allison Bridges

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Jessica Chan

University of Virginia - Darden School of Business ( email )

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

Miguel Palacios

University of Virginia - Darden School of Business

P.O. Box 6550
Charlottesville, VA 22906-6550
United States

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