The target asset for this research is PT.ODG Indonesia (Company), a foreign investment company that was established in 1991, owned majority by a foreign investor of O’Donnell Griffin Australia (80%) (major electrical contractor in Australia) and its Indonesian partner, PT. Anugrah Daya Pratama (20%) in its business of construction service in mechanical, electrical, and fire protection. Since it was established and operating until 2009, the company has experienced several merger and acquisition in the corporation level of the foreign shareholder, which latest control and owned by Tyco Corporation, a Top 500 fortune U.S Company.

In 2007, the company was approached by Tyco Corporation and was asked to signed on a non-disclosure agreements in a lead for selling the business through a bidding over several companies including, Glendale, which were financially ran by a private equity investor of Aurous Capital, and ODG Australia themselves in hoping to fully owned the company, and other companies as well. Over several months, Glendale has reached in becoming its top bidder and working over various transactions in determining their SPA agreements with Tyco, but was later withdrawn in buying the company. Under a new management of Tyco, the company are able to maintain good work relationship to at a point of 2009, where Tyco has decided to sell ODG once more with a new other option of a Management Buyout (MBO). Therefore, once again, Tyco held a bidding to several companies, including PT.ODG Indonesia where their relationship lead to difficulties to one another as ODG position themselves as a buyer and an employee that they also have to manage documents for other potential buyers.