A clean sweep

1/27/2011 - Kellogg was the big winner at the 2011 JP Morgan M&A Challenge, besting crosstown rival University of Chicago Booth School of Business in a finance competition that pit eight teams from each school against each other.

The 16 groups were split into two brackets, with Kellogg teams taking first and second places in both divisions.

The teams were asked to analyze strategic options for a major U.S. regional airline that wanted to expand its network and connectivity beyond the Eastern seaboard and the Midwest. The teams had to suggest a potential target for acquisition and come up with a price to offer for the acquired company.

The students also had to consider how to fund the proposed acquisition and how such an acquisition might affect the credit profile of the combined entity. At the end of the competition, it was revealed that the case was based on the United-Continental merger.

The students had 24 hours to perform the evaluation and financial analysis of the case, and to prepare a presentation to a judging panel comprised of JP Morgan managing directors and faculty from both business schools. Kellogg faculty members David Stowell, clinical professor of finance, and finance lecturer Chirag Saraiya represented Kellogg on the panel.

“Through this competition, we understood the value of experiential learning at Kellogg. Core classes, like accounting and finance, were very helpful,” said Prashanth Cherukuri ’12.

Each of the first-place teams received $1,000, while the second-place teams each received $600.

Kellogg’s winning teams

Team Spectrum took second place in its division at the JP Morgan M&A Challenge. Pictured from left: Sammy Lee, Michael Choi, Prashanth Cherukuri, Umar Saleemi and Paul Wang, all members of the Class of 2012 (not pictured: Joe Robinson ’12)

First Place: Black Swan Capital. Brandon Benkendorf, Nathan Dau Vikhyat Sharma, Sang Eun Shin, David Sweas and Weishen Qiu, all ’12

First Place: Dimons in the Rough. Michael Bernard, Andrew Joseph, Michael Miller, Gabe Stephenson, Peter Weyrens and Ryan Willingham, all ’12

Second Place: Kellogg Capital Partners. Exequiel Casal, Guillermo Dal Borgo, David Herrerias, Inigo Leivar, Ignacio Montes and Federico Toca, all ’12

Second Place: Team Spectrum. Prashanth Cherukuri, Michael Choi, Sammy Lee, Joe Robinson, Umar Saleemi and Paul Wang, all ’12