Corning: Convertible Preferred Stock
Posted: 22 Sep 2008
Date Written: December 1, 2005
Abstract
SUBJECT AREAS: Behavioral finance, Convertible securities, Dividends, Equity capital, Financial strategy, Financing, Preferred stock, Telecommunications.
Corning, with large investments in fiber optic technology, was hit particularly hard by the collapse of the telecommunications industry in 2001. With over $4 billion in debt, the firm's survival appears to rest on raising additional equity capital. James Flaws, the chief financial officer, is considering raising $500 million with an issue of mandatory convertible preferred stock.
Suggested Citation: Suggested Citation
Baker, Malcolm P. and Quinn, James, Corning: Convertible Preferred Stock (December 1, 2005). HBS Case No.: 206-018, Available at SSRN: https://ssrn.com/abstract=1272012
Feedback
Feedback to SSRN
If you need immediate assistance, call 877-SSRNHelp (877 777 6435) in the United States, or +1 212 448 2500 outside of the United States, 8:30AM to 6:00PM U.S. Eastern, Monday - Friday.