Deutsche Bank

Deutsche Bank Securities

Guideline



The report should be in the form of a professional memo from Maria Ober, that is 5 to 6

pages of text, double spaced, and single-sided with regular font size. Do not include

excessive calculations or analysis in the report – rather, they should be added as

appendices or exhibitions at the end. The appendices or exhibitions should not exceed

6 pages.



The memo should address the suggested questions, but should not be written in a simple

question and answer format. Rather, it should be written as a professional, integrated

report of the situation analyzed.



In presenting your argument your memo should be written from Maria Ober as a

recommendation to the CEO, Board of Directors, or another relevant party. Although

there are usually no clear-cut answers to most case questions, you are encouraged to

take a position and justify this position.



The case report mark will be determined as:

a) 80% for content and analysis (eg. identification of key issues; clarity of the analysis

of the suggested questions; recommendation; etc.).

b) 20% for communication of the message (eg. style; grammar; evidence of a

professional approach; continuity between issues, analysis, and recommendations;

etc.).

Suggested Questions

1. Describe the issues facing Maria Ober.

(10%)

2. Assess the $1.513 billion bid for CSSA from ICL. Is this a good deal for ICL?

(45%)

3. Management believes that they are able to increase the EBITDA margin by 350 bp.

How much value would the improvement in the EBITDA margin add? Discuss. (10%)

4. What credit rating should be given to the financing?

5. How should Maria Ober respond?

(5%)

(10%)