tailieunhanh - Triple Bottom Line Risk Management_6

Tham khảo tài liệu 'triple bottom line risk management_6', kinh doanh - tiếp thị, quản trị kinh doanh phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | _11__ Acquisitions Power United States This case study examines Including risk in asset valuations Including risk in setting a bid price Restructuring bids to account for risk Background The client is a large independent power producer. At the time of the case study the client was engaged in a phase of aggressive acquisition of power generation assets both within the United States and globally. As a matter of fiduciary responsibility the client s senior management maintained a policy of risk sensitivity particularly environmental and regulatory risk in relation to acquisitions. Until a year or so before this case study accumulation of the client s power generation assets had traditionally been concentrated on green field sites or demonstrably clean sites. However as opportunities for clean assets diminished the client needed to consider acquisition of older operating sites in order to maintain planned growth. Along with these facilities came the potential of inheriting environmental and regulatory liabilities from past and potentially future activities. Through application of the RISQUE method the client felt more able to bid for these older power generation assets and adopted the method of risk profiling during the due diligence process as the key determinant of potential environmental and regulatory liability. The client also considered that use of the method allowed the company to gain some competitive advantage in the marketplace. 163 164 Acquisitions Power United States Setting The client was engaged in a bid that was ultimately successful for the purchase of a large 2 000 megawatt coal-fired power generation facility located in the eastern half of the United States. The bid process was performed under conditions of strict confidentiality. Due to past and or present activities the client considered that there was some potential for environmental liability at the site. Under draft contract .