Author Profile
Frank, Mary Margaret
Innovation through M&A: Promega's Taxable Acquisition of Ophidian
Frank, Mary Margaret Harrison, Lisa
C-2432 | Published December 17, 2020 | 6 pages Case
Collection: Darden School of Business
The tax director for Promega Corporation (Promega), was finalizing a deal to buy Ophidian Pharmaceuticals, Inc. (Ophidian), and needed to settle on a deal structure. Given that the consideration paid ... Read More
Opportunity Zones
Frank, Mary Margaret Heussner, Jennings
C-2429 | Published November 10, 2020 | 13 pages Technical Note
Collection: Darden School of Business
On December 22, 2017, President Donald J. Trump signed into law the Tax Cuts and Jobs Act of 2017 (TCJA). While many pundits focused on the bigger ticket items of the bill, there was a small provision... Read More
A Community for Change: B Lab and Certified B Corps
Frank, Mary Margaret Loutskina, Elena Yemen, Gerry
F-1878 | Published August 27, 2019 | 10 pages Technical Note
Collection: Darden School of Business
Founded in 2006, the B Lab, a nonprofit organization, created the certified B Corporations (B Corps). B Corps are businesses that satisfy a set of standards and benchmarks defined by social and enviro... Read More
Differences between Financial Accounting and Tax for Valuation in M&A
Elmore, Frederick A. Frank, Mary Margaret
C-2421 | Published July 19, 2019 | 18 pages Technical Note
Collection: Darden School of Business
This technical note outlines the differences between financial accounting standards and tax law that affect the valuation of potential targets depending on the deal structure employed. Valuation mode... Read More
Taxable Acquisitive Deal Structures for C Corporations
F-1875 | Published June 25, 2019 | 13 pages Technical Note
Collection: Darden School of Business
This technical note outlines the consequences to the acquirer, target, and the target’s shareholders from a basic taxable acquisition of C corporations. Specifically, asset acquisitions, stock acquisi... Read More
Tax-Deferred Acquisitive Reorganizations for C Corporations
Frank, Mary Margaret Hoffarth, Alexander
F-1863 | Published June 20, 2019 | 15 pages Technical Note
Collection: Darden School of Business
This technical note outlines the general judicial requirements an acquisition must meet to qualify as a tax-deferred reorganization. The variation in the specific requirements that must be met to qual... Read More
Basic Deal Structures
Hoffarth, Alexander Frank, Mary Margaret
F-1862 | Published June 20, 2019 | 7 pages Technical Note
Collection: Darden School of Business
This technical notes discusses three basic deal structures used to acquire another corporation. Asset acquisitions, stock acquisitions, and mergers under state law are the three common legal forms dis... Read More
Wendy Chan and Accenture's Upwardly Global Partnership
Hernandez, Morela Frank, Mary Margaret
OB-1285 | Published April 17, 2019 | 9 pages Case
Collection: Darden School of Business
Wendy Chan, a manager in strategy at Accenture, a global professional services company, was offered the opportunity to help build and formalize a partnership between Accenture and a nonprofit called U... Read More
JUST Capital
Matos, Pedro Frank, Mary Margaret Fernstrom, Aaron
F-1844 | Published February 04, 2019 | 31 pages Case
Collection: Darden School of Business
The case examines the development and launch of an exchange-traded fund (ETF) based on JUST Capital's socially responsible corporate ranking methodologies. The case provides a market overview of Envir... Read More
DC Water: Turning Sewers from Gray to Green
Frank, Mary Margaret Ruchman, Zach
F-1854 | Published January 14, 2019 | 17 pages Case
Collection: Darden School of Business
Mark Kim, CFO of DC Water, believed building green infrastructure in Washington, DC, was an innovative way to improve the performance of the city’s aging sewer system and save money. In considering th... Read More
Entity Choices for a Socially Responsible Business
Frank, Mary Margaret Hoffarth, Alexander
C-2407 | Published January 09, 2019 | 8 pages Technical Note
Collection: Darden School of Business
One of the fastest-growing areas in business is socially responsible investment (SRI), which incorporates environmental, social, and governance concerns. From 2007 to 2017, SRI increased from $2.71 tr... Read More
Equity Compensation and the US Tax Consequences
Frank, Mary Margaret Lynch, Luann J.
C-2385 | Published August 17, 2018 | 13 pages Technical Note
Collection: Darden School of Business
This technical note explores the many different forms of equity compensation. Equity compensation, defined as compensation that provides for the delivery of equity securities, aligns employees’ incent... Read More
Goldman Sachs Goes to Rikers Island
Loutskina, Elena Frank, Mary Margaret Yemen, Gerry Maiden, Stephen E.
F-1807 | Published August 11, 2017 | 16 pages Case
Collection: Darden School of Business
Yi Hua, the leader of an impact-investing initiative at Goldman Sachs, was examining a new financial arrangement in a proposed public-private partnership called the Rikers Island Social Impact Bond (S... Read More
Hamilton’s Electronics Services, Inc.: The Second Year
Lynch, Luann J. Frank, Mary Margaret
C-2396 | Published June 30, 2017 | 3 pages Case
Collection: Darden School of Business
The owner of Hamilton's has provided his CPA with all the company's invoices, bank statements, and a lot of other miscellaneous business-related information for the company's second year. He has asked... Read More
Kesmore Corporation
Lynch, Luann J. Frank, Mary Margaret
C-2362 | Published June 18, 2015 | 1 pages Exercise
Collection: Darden School of Business
Students are given Kesmore Corporation's balance sheet as of December 31, 2014, and December 31, 2013, as well as information pertaining to its 2014 activities and asked to prepare a statement of cash... Read More
J&J, Inc.
Lynch, Luann J. Frank, Mary Margaret
C-2361 | Published June 18, 2015 | 2 pages Exercise
Collection: Darden School of Business
Jack and Jill, first-year MBA students at the Darden School of Business, discovered their mutual interest in entrepreneurship and agreed to consider developing a small start-up during the summer after... Read More
SunTrust Banks, Inc.: Coke Refreshes Tier 1 Capital
Frank, Mary Margaret Thompson, Sylvie
C-2337 | Published October 29, 2012 | 12 pages Case
Collection: Darden School of Business
As the 2008 financial crisis continued to intensify, a SunTrust executive was preparing for a presentation she would make to the rest of her team. SunTrust's CEO had put together the team to review se... Read More
Taking Private Equity Public: The Blackstone Group
Milone, Kristin Loutskina, Elena Frank, Mary Margaret
C-2327 | Published November 04, 2011 | 19 pages Case
Collection: Darden School of Business
On the eve of the Blackstone Group’s much anticipated initial public offering (IPO), a Wall Street portfolio manager contemplates his commitment to purchase 20,000 units at $31.00 each. As one of the ... Read More
UFS Corporation (A)
C-2323 | Published September 21, 2011 | 5 pages Case
Collection: Darden School of Business
A new credit analyst for a bank has received the consolidated balance sheet of a conglomerate and the balance sheet of its intended target company. The bank wants her to consider the credit risk at UF... Read More
UFS Corporation (B)
C-2324 | Published September 21, 2011 | 7 pages Case
Collection: Darden School of Business
The credit analyst for a bank is asked to consider the credit risk at UFS Corporation (UFS). She obtains the information not included in the balance sheets but still needs to consider UFS's relationsh... Read More
Taxation in a Global Economy
Frank, Mary Margaret Mattingly, George
C-2328 | Published April 11, 2011 Technical Note
Collection: Darden School of Business
Students can examine how international taxation is a system of global tax rules that apply to transactions between two or more countries. They will see how, given differing tax consequences across cou... Read More
H&S Company (A)
Frank, Mary Margaret Habenicht, Paul Garza, Melissa
C-2310 | Published September 16, 2010 | 9 pages Case
Collection: Darden School of Business
An important decision in starting a business is the choice of legal entity. This case provides a realistic, yet stylized, setting to facilitate a discussion of factors to consider in the entity choice... Read More
The Choice of Business Entity: Corporate, Pass-Through, and Disregarded Entities
Frank, Mary Margaret Garza, Melissa Holtan, Alexander
C-2293 | Published September 16, 2010 | 30 pages Technical Note
Collection: Darden School of Business
This technical note focuses on common business entities: sole proprietorships, general partnerships (GPs), limited partnerships (LPs), limited liability partnerships (LLPs), limited liability companie... Read More
The Treatment of Goodwill and Other Purchased Intangibles for Tax Purposes
C-2258 | Published August 29, 2007 | 9 pages Technical Note
Collection: Darden School of Business
This technical note outlines the effect of Section 197 of the Internal Revenue Code on goodwill and other intangibles purchased in an acquisition by comparing the treatment of goodwill and other purch... Read More
The Treatment of Outstanding Employee Stock Options in Mergers and Acquisitions
C-2260 | Published August 29, 2007 | 6 pages Technical Note
Collection: Darden School of Business
This technical note summarizes the tax treatment of alternative methods available to the acquirer to compensate owners of the target's employee stock options. The summary includes changes in the tax l... Read More
Oracle Corporation's Acquisition of Siebel Systems, Inc.: The Battle of Two Silicon Valley Titans Comes to an End
Frank, Mary Margaret Pozzi, Michael
C-2271 | Published August 29, 2007 | 20 pages Case
Collection: Darden School of Business
In September 2005, after years of bitter competition, Siebel Systems Inc. finally agreed to be acquired by Oracle Corporation. The two companies preferred different forms of consideration as payment f... Read More
The Value of Net Operating Losses
Frank, Mary Margaret Right, Jonathan M.
C-2256 | Published August 29, 2007 | 13 pages Technical Note
Collection: Darden School of Business
This technical note provides an overview of the tax law governing the use of a target's net operating losses (NOLs) and other tax attributes by the acquirer. Every transaction requires the acquirer to... Read More
Alcatel S.A. and Lucent Technologies: The Effect of Acquisitions on Net Operating Losses
Frank, Mary Margaret Right, Jonathan M.
C-2257 | Published August 28, 2007 | 15 pages Case
Collection: Darden School of Business
This brief case asks students to assess the impact of an acquisition on the valuation of a company's net operating losses. Specifically, students assess whether an article discussing Alcatel S.A. s ac... Read More
How to Put More Strategy in Your "Taxes and Business Strategy" Course: A Case-Method Approach
C-2265 | Published August 02, 2007 | 32 pages Technical Note
Collection: Darden School of Business
This technical note provides the design for a case-method course called "Taxation and Management Decisions" taught in Darden's MBA program. The course is a general management course, and is designed s... Read More
Effective "Estée-te" Tax Planning through Financial Engineering: Estée Lauder Companies, Inc.
Frank, Mary Margaret Pozzi, Michael
C-2261 | Published July 17, 2007 | 17 pages Case
Collection: Darden School of Business
This case examines the creative strategies that the Lauder family used to monetize its position in Estée Lauder Companies, Inc., in the 1990s while deferring its tax liability on the appreciated posit... Read More
An Overview of Taxation in the United States
C-2273 | Published March 16, 2007 | 13 pages Technical Note
Collection: Darden School of Business
This technical note provides a brief overview of tax planning, the U.S. tax system, and basic U.S. tax law attributable to fundamental business decisions in a corporation's life. Read More
An Overview of Patent Quality: Assessment Valuation and Financial Reporting Implications
Bruner, Robert F. Frank, Mary Margaret Simko, Paul J. Martin, David
F-1539 | Published January 16, 2007 | 16 pages Technical Note
Collection: Darden School of Business
A significant fraction of corporate market values derive from intellectual property. It is vital for the practicing manager to appreciate the risks and uncertainties surrounding intellectual property.... Read More
Genmor Pharmaceuticals' Acquisition of Vascorex Corporation
Bruner, Robert F. Simko, Paul J. Frank, Mary Margaret Martin, David Goldstein, Marc
C-2226 | Published July 15, 2005 | 20 pages Case
Collection: Darden School of Business
This case asks students to identify and evaluate the merits of two factors that have led a buy-side analyst to conclude that an acquiring company is a high-risk investment: (1) the company's allocatio... Read More
General Electric's Acquisition of Amersham PLC
Bruner, Robert F. Simko, Paul J. Frank, Mary Margaret Martin, David Goldstein, Marc
F-1458 | Published November 03, 2004 | 27 pages Case
Collection: Darden School of Business
In September 2003, the CEO of General Electric must evaluate a final proposal for it to acquire Amersham plc, the leading producer of contrast agents used in medical diagnostics. The case permits the ... Read More
A Guide to Taxation and Management Decisions
C-2185 | Published August 09, 2004 | 19 pages Case
Collection: Darden School of Business
This guide provides an overview of tax planning, the tax system, and tax laws. It can be used as a supplement to "Taxes and Business Strategy: A Planning Approach," by Myron Scholes, Mark Wolfson, Mer... Read More
Compensation Planning at Stanford University in the 21st Century
C-2187 | Published August 09, 2004 | 14 pages Case
Collection: Darden School of Business
This case involves a hypothetical situation in which two business professors propose a deferred-compensation plan to the president of Stanford University after the passage of the Economic Growth and R... Read More
Microsoft and the Tax Reform Act of 1986
Frank, Mary Margaret Gupta, Vishal
C-2186 | Published July 30, 2004 | 13 pages Case
Collection: Darden School of Business
Students analyze an employer and an employee's preferences for nonqualified stock options versus incentive stock options. Employer Microsoft issued large amounts of incentive stock options prior to it... Read More
A Supplement to Accounting for Stock Options (UVA-C-2155)
C-2188 | Published July 30, 2004 | 6 pages Technical Note
Collection: Darden School of Business
This technical note provides additional information with regards to the tax consequences of employee stock options and can be used in conjunction with UVA-C-2155. Specifically, the note provides infor... Read More
DuPont's Patent Donations
Bruner, Robert F. Frank, Mary Margaret Simko, Paul J. Martin, David Goldstein, Marc
C-2224 | Published July 02, 2004 | 22 pages Case
Collection: Darden School of Business
In December 1998, an intellectual property executive at DuPont pondered a new program for the 196-year-old company. The executive was reviewing a proposal to donate DuPont patents to universities arou... Read More
Massachusetts Bay Transportation Authority Sustainability Bonds
Frank, Mary Margaret Villarreal Daza, Nicolas
F-1911 | Published | 22 pages Case
Collection: Darden School of Business
In 2017, the Massachusetts Bay Transportation Authority (MBTA) voted to issue tax-exempt municipal bonds through a competitive bidding process. An associate at Citibank’s (Citi’s) Debt Capital Markets... Read More
Próspera: Partnering for Economic Development in Honduras
Frank, Mary Margaret Holtz, Paul Kelly, Dorothy C.
F-1980 | Published | 29 pages Case
Collection: Darden School of Business
Erick A. Brimen’s vision was on the verge of reality. As CEO of Próspera LLC, an economic development platform based in Washington, DC, he had devoted years to fostering efforts to bring economic deve... Read More
H&S Company (C)
Frank, Mary Margaret Habenicht, Paul Garza, Melissa
C-2450 | Published | 10 pages Case
Collection: Darden School of Business
An important decision in starting a business is the choice of legal entity. This case provides a realistic, yet stylized, setting to facilitate a discussion of factors to consider in the entity choice... Read More
H&S Company (B)
Frank, Mary Margaret Habenicht, Paul Garza, Melissa
C-2449 | Published | 9 pages Case
Collection: Darden School of Business
An important decision in starting a business is the choice of legal entity. This case provides a realistic, yet stylized, setting to facilitate a discussion of factors to consider in the entity choice... Read More