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Investment Alternative Benchmarking for Bernard Lester
Lester Electronics (Lester) finds itself faced with a difficult decision after years of profitability and growth due in large part to its long-term relationship with Shang-wa (University of Phoenix, 2008.).Threatened with the loss of its exclusive distributorship of Shang-wa capacitors, it must decide whether to recommend a joint development with Shang-wa, the acquisition of or merger with Shang-wa, or a takeover by Avral Electronics, S.A.
Hawanini and Viallet (1999) believe that “the ultimate objective of financial management is value creation” and that “managers should manage their firm’s resources with the objective of increasing the firm’s market value.” Companies can increase their value through investment in growth opportunities (internal and external), sound management of working capital, and the careful allocation of resources across a portfolio of projects and activities that are most likely to deliver......

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Approximate Word Count: 6259
Approximate Pages: 26 (250 words per double-spaced page)

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