By Sudi Sudarsanam

Developing price from Mergers and Acquisitions supplies an built-in and foreign standpoint. This new booklet builds on and extends the author's hugely profitable identify The Essence of Mergers and Acquisitions. this is often the 1st booklet to supply a comparative research of the M & A scene in Europe and the USA, the 2 so much lively markets on this planet. The publication develops a world and multidisciplinary viewpoint of M & A, and considers M & A as a technique and never a trifling transaction. the writer attracts upon economics, finance, method, legislations and organisational theories to formulate a five-stage version and emphasises the necessity to comprehend the inter-connected nature of those phases. The book's important concentration is at the demanding situations to utilizing M & A as an tool to create shareholder price, how M & A hazards could be mitigated and the way odds of luck in acquisitions may be elevated. developing worth from Mergers and Acquisitions is appropriate for these learning complicated undergraduate and MBA classes in commercial corporation, finance, company procedure, and company governance, in addition to these getting ready for tests set via specialist our bodies. The rigorous integration of the conceptual, empirical and sensible facets of M & a method that researchers and practitioners also will locate this ebook super worthwhile.

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Extra resources for Creating Value from Mergers and Acquisitions: The Challenges

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A. Shleifer and R. W. Vishny, ‘Takeovers in the ’60s and the ’80s: Evidence and implications’, Strategic Management Journal, 12, 1991, 51–59. 4. A. A. Canella Jr and D. C. Hambrick, ‘Effects of executive departures on the performance of acquired firms’, Strategic Management Journal, 14, Special Issue 1993, 137–152. 5. R. N. Ashkenas, L. J. DeMonaco and S. C. Francis, ‘How GE integrates its acquisitions’, Harvard Business Review, 1998, 165–178. 10 Pearson_02_p11-p36 26/03/2005 08:35 PM Page 11 Part One Historic, conceptual and performance overview of mergers and acquisitions As Chapter 1 argues, the mergers and acquisitions process needs to be viewed as a multi-stage process with each stage giving rise to distinct problems and challenges to companies undertaking such transactions.

R. N. Ashkenas, L. J. DeMonaco and S. C. Francis, ‘How GE integrates its acquisitions’, Harvard Business Review, 1998, 165–178. 10 Pearson_02_p11-p36 26/03/2005 08:35 PM Page 11 Part One Historic, conceptual and performance overview of mergers and acquisitions As Chapter 1 argues, the mergers and acquisitions process needs to be viewed as a multi-stage process with each stage giving rise to distinct problems and challenges to companies undertaking such transactions. To understand the nature and sources of these problems we need a good understanding of the external context in which M & A take place.

Thus the integration programme must assuage staff anxieties but also develop a key personnel retention policy. ‘Executives from an acquired firm are an intrinsic component of the acquired firm’s resource base and their retention is an important determinant of post-acquisition performance. There are strong economic motives for initiating acquisitions but there are also strong social processes at work that may seriously affect the outcomes’4. One of the major problem areas in post-merger integration is the integration of the merging firms’ information systems (IS).

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