After winning important battles against soda, governments and health activists are targeting chocolate bars because of their high sugar content, and some, like the UK government in 2017, have set strict targets on the amount of sugar and calories that can be contained in each chocolate bar.

The Michel et Augustin case tells the story of Michel de Rovira and Augustin Paluel-Marmont as they set up their company Michel et Augustin in 2005 to brand and sell sablé cookies. The founders have a vision of creating a brand that can prosper in a competitive market dominated by big players and full of commoditized offerings.

The growth of Hyflux Limited (Hyflux) required it to become more financially sophisticated. As part of its “asset-light” funding strategy – optimising the use of capital by realising asset values early to keep a lean balance sheet - Hyflux spun off 13 water plants to a business trust, Hyflux Water Trust (HWT).

In late 1999, India's second largest tea company, Tata Tea, is faced with a highly competitive home market that is about to become more so as impending deregulation takes effect. The company is thus contemplating internationalisation. Tata Tea is grappling with the decision of how to internationalise.

This case study is a description of the contested takeover of Martell & Cie by Joseph Seagram & Sons in 1987. Students are required to assume the role of one of four main participants in the events surrounding the acquisition: Martell-Martell (France), Joseph Seagram & Sons (Canada), Grand Metropolitan plc (UK) and the French Ministry of Finance.