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Reasons for Frequent Failure in Mergers and Acquisitions

A Comprehensive Analysis

Authors: Straub, Thomas

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  • ISBN 978-3-8350-0844-1
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About this book

Despite the goal of performance improvement, results from mergers and acquisitions (M&A) are often disappointing. Numerous empirical studies show high failure rates of M&A deals. Studies are mostly focused on individual determinants. The literature therefore lacks a more comprehensive framework that includes different perspectives.

Using four statistical methods, Thomas Straub shows that M&A performance is a multi-dimensional function. For a successful deal, the following key success factors should be taken into account:
• Strategic logic which is reflected by six determinants: market similarities, market complementarities, operational similarities, operational complementarities, market power, and purchasing power.
• Organizational integration which is reflected by three determinants: acquisition experience, relative size, cultural compatibility.
• Financial / price perspective which is reflected by three determinants: acquisition premium, bidding process, and due diligence.
All 12 variables are presumed to affect performance either positively or negatively. Post-M&A performance is measured by synergy realization, relative performance (compared to competition), and absolute performance.

About the authors

Dr. Thomas Straub ist Professor für Unternehmensführung und Organisation am Fachbereich Wirtschaft und Verwaltung der Fachhochschule Bern

Table of contents (6 chapters)

Buy this book

eBook $84.99
price for USA in USD (gross)
  • ISBN 978-3-8350-9637-0
  • Digitally watermarked, DRM-free
  • Included format: PDF
  • ebooks can be used on all reading devices
  • Immediate eBook download after purchase
Softcover $109.99
price for USA in USD
  • ISBN 978-3-8350-0844-1
  • Free shipping for individuals worldwide
  • Usually dispatched within 3 to 5 business days.
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Bibliographic Information

Bibliographic Information
Book Title
Reasons for Frequent Failure in Mergers and Acquisitions
Book Subtitle
A Comprehensive Analysis
Authors
Copyright
2007
Publisher
Deutscher Universitätsverlag
Copyright Holder
Gabler Verlag | Springer Fachmedien Wiesbaden GmbH, Wiesbaden
eBook ISBN
978-3-8350-9637-0
DOI
10.1007/978-3-8350-9637-0
Softcover ISBN
978-3-8350-0844-1
Edition Number
1
Number of Pages
XIV, 227
Topics