Mergers & Acquisitions: A Guide to Creating Value for Stakeholders / Edition 1

Mergers & Acquisitions: A Guide to Creating Value for Stakeholders / Edition 1

by Michael A. Hitt, R. Duane Ireland, Jeffrey S. Harrison
     
 

ISBN-10: 0195112857

ISBN-13: 9780195112856

Pub. Date: 03/28/2001

Publisher: Oxford University Press, USA

In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once

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Overview

In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This M&A action was merely the latest in a growing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies in the new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater.
This book more than fills that need. Looking at successful—and unsuccessful—mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures. The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms find partners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that ethical principles aren't breached during the process.
Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.

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Product Details

ISBN-13:
9780195112856
Publisher:
Oxford University Press, USA
Publication date:
03/28/2001
Edition description:
New Edition
Pages:
240
Sales rank:
1,294,825
Product dimensions:
6.10(w) x 9.00(h) x 1.00(d)

Related Subjects

Table of Contents

Preface
1The World of Mergers and Acquisitions3
2Exercising Due Diligence17
3Financing an Acquisition31
4Looking for Complementary Resources47
5Seeking a Friendly and Cooperative Merger65
6Achieving Integration and Synergy81
7Learning from Experience103
8Avoiding the Hazards of Diversification115
9Deciding If Innovation Can Be Acquired Successfully129
10Acquiring or Merging Across Borders143
11Taking an Ethical Approach to Mergers and Acquisitions161
12Beating the Odds in the M&A Game177
Notes189
Index219

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