A classroom-based simulation activity is conducted in a third-year finance subject, involving teams of students negotiating a business sale or purchase. A case study approach provides a basis for interpretation. Interviews with students, along with statistical information and relevant policy documents, were analyzed and interpreted to generate the findings. The effectiveness of the simulation activity is evaluated and showed that it enhanced learning and involved students drawing on a range of graduate capabilities in meeting a negotiated outcome. The authors also report that the effectiveness of the activity as gauged from the perspective of the students is also supported.