1,720,995 research outputs found
The acquisition of Delft Belting B.V. : An international acquisition simulation.
No full textThis publication is a simulation or game to be used in conjunction with a classroom experience. It is based on a real international Mergers and Acquisition (M&A) transaction involving a multi- billion dollar acquirer seeking to expand for the first time internationally. The simulation allows participants to experience the whole M&A process for themselves in the classroom – including triumphs and setbacks. The simulation will allow participants to gain insights into acquisition strategy, due diligence, company valuation, deal negotiations, contract design, post acquisition integration and performance outcomes
Post-acquisition integration
No full textThis article observes that value is created or destroyed in the post-acquisition integration phase. It highlights four distinct post acquisition integration strategies which can enable acquirers to benefit from an acquisition. It also identifies the critical role of speed, leadership and communication during this process
Implementing successful post acquisition management
No full textThis book focuses upon the post acquisition phase where value is won or lost from an M&A. However its underlying message is that successful post acquisition management depends upon effective management of the entire M&A process
Mergers and acquisitions
No full textOne of the first interdisciplinary books on mergers and acquisitions. The book aims to broaden M&A horizons through plural perspectives and provide integrating mechanisms for interpreting multiple view
Merger and acquisition typologies : a review
No full textTypologies are in abundance in the Mergers and Acquisitions (‘M&A’) literature and many are common currency amongst practitioners and academics alike. To date however they appear to have achieved a degree of uncritical acceptance. This may have negative consequences for deal doers and those seeking to build strong academic foundations for M&A research. Consequently there is need for critical appraisal of M&A typologies in order to re-root this research stream. This chapter provides an extensive review, comparison and critique of many prominent typologies in the M&A literature in order to identify the status of these frameworks and to highlight where further refinement and testing is necessary. This is the first critical review of typologies in the M&A field and aims to assess their role in making sense of this complex area
The managing executive in post-acquisition management
No full textManaging Executives occupy a pivotal role in the acquisition process. It is virtually inconceivable that major Merger and Acquisitions (M&As) could proceed without their personal sponsorship (Hayward & Hambrick, 1997). They are central to the negotiation and signing for such deals and it is these negotiations that raise questions over how the target company should be run post-acquisition, how it should be configured to fit within the newly expanded group and what sort of strategy may be appropriate for the future. Managing Executives embody their firm’s strategies and so are intimately connected with these issues of organisational fit and strategic rational. With negotiations focussed upon the future of their businesses and their personal places in corporate history, these contests can be very dramatic. The high stakes are evident in the substantial levels of acquired Managing Executive departure post-acquisition. Whilst we can observe that many acquired Managing Executives subsequently leave the enlarged firm, little evidence to date answers the question of why they have been retained or replaced
Acquiring poorly performing companies during economic recession : insights into post-acquisition management
No full textAt this time of recession, many companies are performing badly and some become acquisition targets. Once acquired, the General Manager needs to consider how to turn around the acquired company. Existing studies of turnarounds suggest a uniform approach to the early stages of management, but this is based on analysing stand-alone companies rather than acquired ones. Amongst acquisitions it is well known that there are different integration styles, but studies of mergers and acquisitions have not focused upon how poorly performing companies are managed. This paper asks (1) should acquired companies in poor financial health be managed as other acquired companies and (2) should they follow turnaround literature prescriptions? Using a novel mixed method approach, cluster analysis techniques reveal the existence of two distinct integration strategies for poor performing target companies, and qualitative interviews provide explanation of these findings. For General Managers this means that their strategy options should not be limited to the 'classic' turnaround strategies set out in the existing literature but should recognise that there are different ways to manage poor health acquisitions
The management buy-out arena : differential slip in a tripartite alliance
No full textThe traditional focus on Management Buy-Outs (MBOs) has been upon concluding deals. However, substantial numbers of MBOs fail to exit and this paper suggests that the time is ripe for attention to be redirected towards post-deal evolution. Three phases in the MBO post-deal process are identified. These are depicted as The Spirit of Optimism, The Zone of Indifference and The Spiral of Mistrust, reflecting, respectively, the moment of contractual agreement, subsequent stagnation and downward slide in performance. As the MBO evolves through these phases of decline, this study focuses upon the interactions of three main parties: The Management Team, The Venture Capitalists and The Investment Bankers. The key objective is to capture the difficulties accruing to these parties as the MBO declines. The failures of the three main parties lie in identities, increasing problems of interaction and lack of communication. By linking micro, meso and macro levels of analysis a novel way of looking at MBOs is suggested which helps to avoid the trap of focusing only upon the moment the deal is done
- …
