Takeovers, mergers and buy-outs Books

Book SynopsisMichel Driessen is a Senior Partner in EY's Strategy and Transactions group. He has previously held senior executive positions at Accenture, Visa and Rabobank. He has worked on and led over 100 multi-billion-pound transactions with the world's largest corporations and private equity firms. He is an Honorary Senior Visiting Fellow at Bayes Business School in London. Anna Faelten, PhD, is an experienced corporate finance Partner at EY. She leads EY's Technology, Media and Telecoms (TMT) Corporate Finance practice. She has a wealth of corporate finance and consulting experience, spanning public to private sector, private equity-backed, founder owned and corporate buy-side and sell-side transactions. Scott Moeller is a Professor in the Practice of Finance at the Bayes Business School in London, UK, and is the founder and Director of the M&A Research Centre. He teaches 'Mergers & Acquisitions' in the MBA and MSc programmes. He has had a highly successful banking caTrade Review"In a world where rapid technology development and adoption are forcing the pace of change, this book reminds us that human values and relationships are the foundation of all successful business dealings." * Anne Glover, Chief Executive and Co-founder, Amadeus Capital *"Shows the unstoppable rise in the use of big data and AI in large M&A deals, which mirrors every other industry, including global sports such as football. And, just as we found in the sports industry where we argue that "the machine proposes but the human decides", Driessen, Faelten and Moeller show why the human element of deals will only become more important with the increasing use of technology to conduct deals. This is a must-read for anyone engaged in divestitures, acquisitions and large financial deals." * Chris Brady, Chief Intelligence Officer, Sportsology Group *"A insightful and thought-provoking read for those involved in mergers, acquisitions and divestitures, as well as in the world of corporate finance. As deals have become part of the DNA of business strategy, so has the use of technology in advancing and accelerating the execution of the right transactions. Through the lens of experience, the authors use interviews and stories with leading dealmakers to highlight the impact of technology on today's deal market, and to forecast the likely implications of digital transformation to the M&A process. Whether an experienced investment banker or early career analyst, you need to read The Deal Paradox." * Kenneth H Marks, Managing Partner and Founder, High Rock Partners *Table of Contents Chapter - 00: Introduction - Do deals or die; Chapter - 01: Strategy or bust; Chapter - 02: Identify your target; Chapter - 03: Winning hearts, minds and money; Chapter - 04: Priced to perfection; Chapter - 05: Taking care of business; Chapter - 06: Selling the story; Chapter - 07: After the deal; Chapter - 08: Conclusion - The future of the deal;

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Book SynopsisMichel Driessen is a Senior Partner in EY's Strategy and Transactions group. He has previously held senior executive positions at Accenture, Visa and Rabobank. He has worked on and led over 100 multi-billion-pound transactions with the world's largest corporations and private equity firms. He is an Honorary Senior Visiting Fellow at Bayes Business School in London. Anna Faelten, PhD, is an experienced corporate finance Partner at EY. She leads EY's Technology, Media and Telecoms (TMT) Corporate Finance practice. She has a wealth of corporate finance and consulting experience, spanning public to private sector, private equity-backed, founder owned and corporate buy-side and sell-side transactions. Scott Moeller is a Professor in the Practice of Finance at the Bayes Business School in London, UK, and is the founder and Director of the M&A Research Centre. He teaches 'Mergers & Acquisitions' in the MBA and MSc programmes. He has had a highly successful banking caTrade Review"In a world where rapid technology development and adoption are forcing the pace of change, this book reminds us that human values and relationships are the foundation of all successful business dealings." * Anne Glover, Chief Executive and Co-founder, Amadeus Capital *"Shows the unstoppable rise in the use of big data and AI in large M&A deals, which mirrors every other industry, including global sports such as football. And, just as we found in the sports industry where we argue that "the machine proposes but the human decides", Driessen, Faelten and Moeller show why the human element of deals will only become more important with the increasing use of technology to conduct deals. This is a must-read for anyone engaged in divestitures, acquisitions and large financial deals." * Chris Brady, Chief Intelligence Officer, Sportsology Group *"A insightful and thought-provoking read for those involved in mergers, acquisitions and divestitures, as well as in the world of corporate finance. As deals have become part of the DNA of business strategy, so has the use of technology in advancing and accelerating the execution of the right transactions. Through the lens of experience, the authors use interviews and stories with leading dealmakers to highlight the impact of technology on today's deal market, and to forecast the likely implications of digital transformation to the M&A process. Whether an experienced investment banker or early career analyst, you need to read The Deal Paradox." * Kenneth H Marks, Managing Partner and Founder, High Rock Partners *Table of Contents Chapter - 00: Introduction - Do deals or die; Chapter - 01: Strategy or bust; Chapter - 02: Identify your target; Chapter - 03: Winning hearts, minds and money; Chapter - 04: Priced to perfection; Chapter - 05: Taking care of business; Chapter - 06: Selling the story; Chapter - 07: After the deal; Chapter - 08: Conclusion - The future of the deal;

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Book SynopsisDon’t make another business deal until first reading this definitive guide to getting them done right.

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Book SynopsisThis book reviews both successful and unsuccessful mergers and acquisitions, exploring the reasons why so many fail to live up to expectations. An exploration of why mergers and acquisitions succeed or fail, based on rigorous scholarly research. Stretches the boundaries of what we know about these complex phenomena. Presents original ideas about the merger and acquisition strategy, the effects of mergers and acquisitions on performance, and the critical processes involved in implementation and integration. Explores new areas, such as the role of culture and leadership, and the importance of knowledge transfer and learning. Includes contributions from both highly respected scholars and up-and-coming stars in the field. Table of ContentsList of Figures. List of Tables. Lists of Contributors. Introduction: Amy L. Pablo And Mansour Javidan. Part I: M&A Performance:. 1. Mind The Gap: Key Success Factors In Cross-Border Acquisitions: Noa Erez-Rein (Australian Graduate School of Mangement), Miriam Erez (Faculty of Industrial Engineering and Management, Technion, Israel Institute of Technology),. 2. The Secrets Of M&A Success: A Co-Competence & Motivational Approach To Synergy Realization: Rickard Larsson (School of Economics and Management, Technion, Israel Institute of Technology), Kenneth R. Brousseau (Decision Dynamics LLC) Michael Driver (Marshall School of Business, University of Southern California), Patrick Sweet (Decision Dynamics AB). Part II: M&A Strategy:. 3. Cross-Border Mergers And Acquisitions: Challenges And Opportunities: Michael Hitt (Mays School of Business, Texas A&M University) And Vicenzo Pisano (Arizona State University). 4. Firm Competitiveness And Acquisition: The Role Of Competitive Strategy And Operational Effectiveness In M&A’s: Paul Mudde (Siedman School of Business) And Thomas Brush (Krannert Graduate School of Mangement, Purdue University). 5. Acquisitions Of Entrepreneurial Firms: A Comparison Of Private And Public: Jung-Chin Shen (Strategy and Management Department, INSEAD) And Jeffrey Reuer (Fisher College of Business, Ohio State University). Part III: Merger Implementation And Integration:. 6.The Role Of The Corporate Academy In Mergers And Acquisitions: Shlomo Ben-Hur And Todd Thomas (DaimlerChrysler Services Academy). 7. Managing The Acquisition Process: Do Differences Actually Exist Across Integration Approaches: Kimberly Ellis (Eli Broad Graduate School of Mangement, Michigan State University). Part IV: Culture And Leadership In M&A’s:. 8. The Neglected Role Of Leadership In Successful M&A: Sim Sitkin (Center for Organizational Research at the Fuqua School of Business) And Amy L. Pablo (Haskayne School of Business, University of Calgary). 9. The Role Of CEO Charismatic Leadership In Effective Implementation: David Waldman (School of Managbement at Arizona State University - West). 10. The Impact Of Culture Differences On Strategy Realization: Vera Hertog (Vlerick Leuven Gent Management School, Universiteit Gent). Part V: M&A Knowledge Transfer And Learning:. 11. Technology Based Industries: Danna Greenberg (Faculty of Management, Babson College). 12.Does It Pay To Capture Intangible Assets? Asli Arikan (Boston University). Part VI: Research In M&A’s:. 13.What Have We Learned From M&A Research? Joseph Bower ( Harvard University). 14. Where We’ve Been And Where We’re Going: Amy L. Pablo , Mansour Javidan(Haskayne School of Business, University of Calgary), Harbir Singh (The Wharton School, The University of Pennsylvania), Michael Hitt (Mays School of Business, Texas A&M University) And Dave Jemison (McCombs School of Business, University of Texas at Austin). Index

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Book SynopsisThis highly topical book provides a multi-disciplinary perspective, ranging from finance to psychology, on the subject of mergers and acquisitions.Trade Review"This book is unique in its approach to M&A. Rather than simply falling into one of the established, academic M&A "schools" such as strategy or finance, it breaks ground on a new school – the practitioner school." Henry W. Lane, Northeastern UniversityTable of ContentsNotes on Contributors vii Preface xv Part I: Overview 1 1. M&A as Horizons 3 Duncan Angwin Part II: Pre-Acquisition 25 2. M&A as Success 27 Mark Whittington and Ken Bates 3. M&A as Illusion 63 Chris Smith 4. M&A as Warfare 87 Stephen Cummings and Sally Riad 5. M&A as Power 116 Glenn Morgan 6. M&A as Risk 153 Matthew Checkley Part III: Post-Acquisition 179 7. M&A as Project 181 Philippe Very and Stephen Gates 8. M&A as Boundaries 204 Derek O’Byrne 9. M&A as Knowledge 229 Laura Empson 10. M&A as Stereotypes 256 Eero Vaara and Janne Tienari 11. M&A as Imperialism 276 Simon Collinson Part IV: Integration 297 12. M&A as Linkages 299 David Schweiger, Erin Mitchell, Justin Scott, Caroline Brown 13. M&A as Practice 329 Duncan Angwin 14. M&A as Time 357 Duncan Angwin, Scott Dacko and Matthew Checkley Mergers and Acquisitions: A Primer 383 Appendix 1: At What Price Should Tesco Buy Greggs? 409 Glossary of Terms 426 References and Further Reading 433 Index 455

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Book SynopsisThe striking feature of the takeover market in the US in recent years has been the lightning pace of changes in strategy due to innovations in takeover defense. This book explains in a clear and authoritative manner the best strategies and the traps from the standpoints of both bidders and targets. The takeover business has become giant and complex with its own special jargon. It is highly regulated by federal and state laws. Ingenious business and legal strategists are constantly generating new methods of thrust and parry to advance their clients causes. This book guides the reader through this complex area. The authors base their advice on what they, their clients and the takeover markets have found to be the most important strategic and legal consideration. The complete text of the main contracts in the highly controversial Time-Warner deal is reproduced with a full explanation clause by clause of the legal and business negotiating problems faced by both sides. Comparisons with other acquisition transactions illustrate for the specialist and the non-specialist exactly what is going on in acquisition negotiations. Other appendices contain a detailed glossary and key statutes and rules. The book is an unmatchable source for all those involved in or contemplating acquisitions, takeover financing or takeover defense in the U.S.Table of ContentsAcknowledgments xi 1 Introduction 1 Part I The Framework 2 If Only Directors Were Perfect 9 3 Shareholders Are Not Perfect Either 244 The Chief Executive Office 33 5 The Importance of State Corporation Law 39 6 How State Antitakeover Laws Change the Balance 53 7 Defending Friendly Acquisitions from Competition 69 8 Poison Pills and Other Defenses Against Takeovers 76 9 The Role of Federal Law 87 10 Conflicts of Interest: Auctions, Squeeze-outs, Leveraged Buyouts and Insider Trading 99 Part II Advice for Bidders and Targets 11 A Successful Bidder May Still Be a Loser 119 12 Friendly Deals: What Good is a Contract? 124 13 Should I Make a Hostile Bid? 134 14 How Should We Defend Against a Hostile Bid? 148 15 Traps and Opportunities for Bidders 161 16 Practical Thoughts on Leveraged Buyouts and Recapitalizations 177 Part III Case Study: the Time--Warner Agreements Introduction 187 17 Commentary on the Original Time--Warner Merger Agreement 189 Share Exchange Agreement 262 18 Commentary on the Revised Time--Warner Agreement 279 Appendix 359 Table of Cases 467 Bibliography 472 Glossary 478 Subject Index 507 Name Index 520

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Book SynopsisStrategic alliances are becoming increasingly important as a long-term response to the move towards globalization of businesses, and to their need to learn and adapt quickly, gain access to new markets, and diffuse new technologies. In this comprehensive informative and practical text the authors delvop: An analysis of over 30 alliances in the US, Japan and Europe. A blueprint for successfully forming and implementing an alliance. Practical case histories of nine successful and unsuccessful alliances which highlight benefits and drawbacks. Highly successful in hardback, this book is now available in paperback for undergraduate and MBA students of corporate strategy and international business.Table of ContentsPreface. Part I: Introduction:. 1. Strategic Alliances in International Business. Part II: Formation and Evolution of Strategic Alliances:. 2. The Formation Process. 3. Evolution of Strategic Alliances. Part III: Management Processes:. 4. Planning and Control Considerations. 5. Human Resource Management. Part IV: Contextual Issues:. 6. Culture, Management Approach, and Performance. 7. Common Obstacles. 8. Emerging Challenges. Part V: Conclusions and Implications:. 9. Conclusions. References. Index.

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Book SynopsisLearn how to establish successful business relationships and winning contracts for both parties. Get a solid grounding in the acquisition process, learn the roles of key players, and discover the rules of the game. This practical book briefs you on key steps in contract formation, essential elements of a binding contract, principal objectives for buyers and sellers, and much, much more. Whether you’re forming a contract for the first or fiftieth time, you’ll improve your results with best practices and tools for success.

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Book SynopsisAn insiders' guide to everything interested readers need to know about the ongoing consolidation of the utilities industry. Roll-Up delves into the rich history of utilities consolidation-from the original, highly fragmented US industry structure, through the development of industry views on consolidation and participation, to the drivers and events occurring in the cycles of the modern era. Roll-Up also explores the changing motivations for combinations, the hands-on perspectives of successful transactions, and gives a glimpse into what could happen next for utility mergers and acquisitions. Expert utilities consultant Tom Flaherty interviewed twelve current or former chief executive officers, investment bankers, attorneys, and ratings analysts who provided introspection and commentary on their experiences with consolidation in the modern era from 1995-2020. These notable individuals made the tough decisions about whether to pursue a transaction, and they provided constant advice to management, crafted merger agreements, and evaluated the logic of transactions and the potential for successful outcomes. From deal execution to the current nature of business simplification and portfolio rationalization, Roll-Up covers the past and present of utilities consolidation and looks over the horizon at how future transactions might evolve beyond those seen today.

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Book SynopsisGo Do Deals provides entrepreneurs with a practical method to source and buy companies without having capital and without borrowing lots of money. For those who are ready to take the next step on the entrepreneurial ladder and make the shift from customer to shareholder value creation, Go Do Deals shows them how to: Bypass the brokers and find businesses that are NOT for sale Find, approach, and have positive conversations with potential sellers Structure deals so that they do not need to contribute cash upfront Choose the right deals and avoid buying themselves a job Know the best time to exit or sell their business Buying a company can double one’s business in an afternoon, free them from the treadmill of staff and customers, and avoid the blood, sweat, and years of start-up pain. It’s time to Go Do Deals.

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Book SynopsisBridge the Knowledge GapDo you have what it takes to build agile, successful teams? Pursue mergers that transform? Are you solving the right problems for efficiency and growth? Do you want to leverage your mission for large-scale social change? Does your Board have a shared vision for innovation?Discover the critical lessons of success with 11 Secrets of Nonprofit Excellence in this step-by-step executive guide: Build effective, enthusiastic teams Deploy tech to boost revenues and quality Launch profitable micro businesses Negotiate game-changing legislative outcomes Design and implement dynamic strategic plans 11 Secrets offers practical stories, disciplines, data, and humor in an empowering blueprint for achieving excellence in any organization. The book addresses the resource gap for navigating non-profit growth and innovative tech solutions. Deftly weaving vignettes from the author's successful careers in international publishing and nonprofits, 11 Secrets introduces real-life encounters with notables such as Muhammad Ali to unlock valuable secrets of quality, excellence, and mission advancement. 11 Secrets lends itself to powerful coaching and winning outcomes for start-ups, non-profits, Boards and leaders, cross sector.Trade ReviewPeter Drucker first identified the importance of studying non-profit management. 'No Margin, No Mission' is one famous quote. Nonprofits are by far the largest employer group in the US, and they are the original laboratory for managing knowledge workers. Kathleen Stauffer has added valuable insights to the store of knowledge in this field. Ms. Stauffer's 11 Secrets lives in the real-world of experience, and I find that her insights are also relevant to some of the startups that I work with. Kathleen Stauffer has written the blueprint for creating, managing and advancing a successful and thriving non-profit. Really, if you have a business of any kind this book is a must-read. The strategies in this book will not only take you to the top but will keep you there." - David Perozzi, Senior Producer, CNN

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Book SynopsisWhat makes the "Advances in Mergers and Acquisitions" series stand out is its focus on all three characteristics that make up this research field - studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad, and inclusive, approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The collections published each year provide cutting edge ideas by leading scholars on a global scale. Doing so not only broadens the questions being studied, but also helps researchers consider the inter-relationships among different perspectives. In the final analysis, the best way to build understanding around a topic as diffuse as mergers and acquisitions is to be both integrative, and expansive, in choice of research questions and theoretical underpinnings. "Advances in Mergers and Acquisitions" offers this unique perspective, not easily found elsewhere, that will help scholars think about mergers and acquisitions in new ways, building our knowledge base on this critical topic.Table of ContentsList of Contributors. Introduction. Are All Mergers and Acquisitions Treated as if they were Alike? A Review of Empirical Literature. Organisational Commitment in Acquisitions. Merger, She Wrote: Improvising on the Script of Identification Processes During Mergers. Cultural Similarities and Differences: Impacts on Performance in Strategic Partnerships. A Comparative Anatomy of Two Cross-Border Acquisitions by Teva Pharmaceutical Industries. The Use of Accounting-Based Measures in Measuring M&A Performance: A Review of Five Decades of Research. Vertical Versus Horizontal Integration in the Biopharma Industry: The Link between Acquisition Announcements and Stock Market Performance. For Better or for Worse; can M&As Benefit from Marriage Counselling?. A Social Network View of Post-Merger Integration. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Copyright page.

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Book SynopsisWhat makes the Advances in Mergers and Acquisitions series stand out is its focus on all three characteristics that make up this research field - studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad, and inclusive, approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The collections published each year provide cutting edge ideas by leading scholars on a global scale, broadening the questions being studied and helping researchers consider the inter-relationships among different perspectives. The best way to build understanding around a topic as diffuse as mergers and acquisitions is to be both integrative, and expansive, in choice of research questions and theoretical underpinnings. Advances in Mergers and Acquisitions offers this unique perspective, not easily found elsewhere.Table of ContentsList of Contributors. Introduction. Can We Predict M&A Activity?. Does Expanding through Alliances vs. Mergers and Acquisitions Matter? The Example of the Global Retail Industry. Slow but Certain: The Pre-M&A Process of European National Champion Deals. A Knowledge-Based View of Mergers and Acquisitions Revisited: Absorptive Capacity and Combinative Capability. The Impact of Organizational Culture Differences on Bidder and Target Companies’ Share Values following Merger Announcement: Evidence from a Stock Market Perspective. Reducing Cognitive Bias in Assessing Combination Potential in M&As. Reputation Spillover Effects and Post-Acquisition Performance: A Customer Perspective. Customer and Competitor Responses to Mergers and Acquisitions: An Empirical Investigation in the Logistics Industry. Integrating Relative Standing and Market Discipline: A Complexity Theory Perspective of Post-Merger and Acquisition Executive Departure. A Decision-Making Framework to Analyze Important Dimensions of M&A Performance. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Copyright page.

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Book SynopsisThe latest volume of Advances in Mergers & Acquisitions brings together the best research in acquisition strategy by leading scholars in the field of M&A. As more and more companies position themselves for growth and change in a fluctuating global financial climate this volume is a must for scholars and strategy specialists involved in the study or implementation of mergers and acquisitions. Contributions explore the "negotiation stage" of acquisition; the role of the customer; human impacts on the performance of a merger or acquisition; managing cross-border deals, and post-acquisition integration. Important new findings in this volume detail how non-financial considerations help to predict the success or failure of an acquisition strategy. It presents an extensive review of research from the last 30 years on how culture has a direct impact upon global deals and addresses the gap in academic research on how to bridge the organizational and national cultural differences which ultimately cause barriers between acquisition partners.Table of ContentsList of Contributors. Introduction. Human Impacts on the Performance of Mergers and Acquisitions. M&A Negotiation Stage: A Review and Future Research Directions. Customer Roles in Mergers and Acquisitions: A Systematic Literature Review. Post-Acquisition Integration: A Two-Level Framework Lessons from Integration Management of Cross-Border Acquisitions in the Global Automobile Industry. Cross-Border Mergers and Acquisitions: Modelling Synergy for Value Creation. The Impact of Culture on Mergers and Acquisitions: A Third of a Century of Research. Insights of Signaling Theory for Acquisitions Research. Mixed Methods: A Relevant Research Design to Investigate Mergers and Acquisitions. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions. Copyright page.

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Book SynopsisThis significant collection of articles comprises seminal works in recent empirical research on mergers and acquisitions. The papers provide a detailed analysis of fundamental questions such as the sources of gains in mergers and acquisitions, the role of activists in the takeover process, the existence of merger waves, the relevance of auction models in corporate takeovers and the measurement of bidder returns.This volume, with an original introduction by the editor, is an indispensible tool to scholars in finance, economics and industrial organization as well as policymakers in securities regulation, corporate law and antitrust.<Trade Review'This book offers a comprehensive collection of very serious work on mergers and acquisitions. The selection of articles in this collection reflects the skill and experience of Harold Mulherin, who has himself made several high quality contributions to this subject. I recommend the book to all who would like to know the best that has been written about mergers and acquisitions.' -- Harold Demsetz, University of California, Los Angeles, USTable of ContentsContents: Acknowledgements Introduction J. Harold Mulherin PART I SOURCES OF GAINS FROM MERGERS 1. Erik Devos, Palani-Rajan Kadapakkam and Srinivasan Krishnamurthy (2009), ‘How Do Mergers Create Value? A Comparison of Taxes, Market Power and Efficiency Improvements as Explanations for Synergies’ 2. C. Edward Fee and Shawn Thomas (2004), ‘Sources of Gains in Horizontal Mergers: Evidence from Customer, Supplier, and Rival Firms’ 3. Isil Erel (2011), ‘The Effect of Bank Mergers on Loan Prices: Evidence from the United States’ 4. David A. Becher, J. Harold Mulherin and Ralph A. Walkling (2012), ‘Sources of Gains in Corporate Mergers: Refined Tests from a Neglected Industry’ 5. Vojislav Maksimovic, Gordon Phillips and N.R. Prabhala (2011), ‘Post-Merger Restructuring and the Boundaries of the Firm’ 6. Gerard Hoberg and Gordon Phillips (2010), ‘Product Market Synergies and Competition in Mergers and Acquisitions: A Text-Based Analysis’ PART II TAKEOVERS AND MANAGERIAL DISCIPLINE 7. Kenneth M. Lehn and Mengxin Zhao (2006), ‘CEO Turnover after Acquisitions: Are Bad Bidders Fired?’ 8. Robin Greenwood and Michael Schor (2009), ‘Investor Activism and Takeovers’ 9. Michael Bradley, Alon Brav, Itay Goldstein and Wei Jiang (2010), ‘Activist Arbitrage: A Study of Open-Ending Attempts of Closed-End Funds’ 10. Audra L. Boone and J. Harold Mulherin (2007), ‘Do Termination Provisions Truncate the Takeover Bidding Process?’ PART III MERGER WAVES 11. Jarrad Harford (2005), ‘What Drives Merger Waves?’ 12. Matthew Rhodes-Kropf, David T. Robinson and S. Vishwanathan (2005), ‘Valuation Waves and Merger Activity: The Empirical Evidence’ 13. Jon A. Garfinkel and Kristine Watson Hankins (2011), ‘The Role of Risk Management in Mergers and Merger Waves’ 14. Mark L. Mitchell and Erik Stafford (2000), ‘Managerial Decisions and Long-Term Stock Price Performance’ 15. Jeffry Netter, Mike Stegemoller and M. Babajide Wintoki (2011), ‘Implications of Data Screens on Merger and Acquisition Analysis: A Large Sample Study of Mergers and Acquisitions from 1992 to 2009’ PART IV TAKEOVERS AS AUCTIONS 16. Paul Povel and Rajdeep Singh (2006), ‘Takeover Contests with Asymmetric Bidders’ 17. Audra L. Boone and J. Harold Mulherin (2007), ‘How Are Firms Sold?’ 18. Nihat Atkas, Eric de Bodt and Richard Roll (2010), ‘Negotiations Under the Threat of an Auction’ 19. Michael Ryngaert and Ralph Scholten (2010), ‘Have Changing Takeover Defense Rules and Strategies Entrenched Management and Damaged Shareholders? The Case of Defeated Takeover Bids’ PART V MEASURING BIDDER RETURNS 20. Sara B. Moeller, Frederik P. Schlingemann and Rene M. Stulz (2005), ‘Wealth Destruction on a Massive Scale? A Study of Acquiring-Firm Returns in the Recent Merger Wave’ 21. Audrea L. Boone and J. Harold Mulherin (2008), ‘Do Auctions Induce a Winner’s Curse? New Evidence from the Corporate Takeover Market’ 22. Mark Mitchell, Todd Pulvino and Erik Stafford (2004), ‘Price Pressure around Mergers’ 23. Jie Cai, Moon H. Song and Ralph A. Walkling (2011), ‘Anticipation, Acquisitions and Bidder Returns: Industry Shocks and the Transfer of Information Across Rivals’ 24. David A. Becher (2009), ‘Bidder Returns and Merger Anticipation: Evidence from Banking Deregulation’

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Book SynopsisThis unique Handbook explores both the economics of the firm and the theory of the firm, two areas which are traditionally treated separately in the literature. On the one hand, the former refers to the structure, organization and boundaries of the firm, while the latter is devoted to the analysis of behaviors and strategies in particular market contexts. The novel concept underpinning this authoritative volume is that these two areas closely interact, and that a framework must be articulated in order to illustrate how linkages can be created. This interpretative framework is comprehensively developed in the editors' introduction, and the expert contributors - more than fifty academics of renowned authority - further elaborate on the linkages in the seven comprehensive sections that follow, encompassing: background; equilibrium and new institutional theories; the multinational firm; dynamic approaches to the firm; modern issues; firms' strategies; and economic policy and the firm. Bridging economics and theory of the firm, and providing both technical and institutional perspectives on real corporations, this path-breaking Handbook will prove an invaluable resource for academics, researchers and students in the fields of economics, heterodox economics, business and management, and industrial organization. Contributors: Z.J. Acs, M. Aglietta, C. Antonelli, M.C. Becker, M. Bellandi, M.H. Best, H. Bo, J.J. Bouma, H. Bouthinon-Dumas, T. Buchmann, R. Carter, M. Casson, C. Cezanne, M. Cloodt, A. Coad, A. Colombelli, A. Correlje, L. De Propris, M. Dietrich, C. Driver, S.P. Dunn, P.E. Earl, N.J. Foss, M. Fransman, J.-L. Gaffard, J. Groenewegen, S. Guillou, J. Hagedoorn, G. Hanappi, G.M. Hodgson, W. Holzl, G. Ietto-Gillies, A. Jolink, T. Knudsen, J. Krafft, W. Lazonick, S. Lechevalier, B.J. Loasby, F. Marty, L. Nesta, E. Niesten, B. Nooteboom, U. Pagano, P.P. Patrucco, A. Pyka, F. Quatraro, J.-L. Ravix, A. Reberioux, A. Reinstaller, E. Salies, P.P. Saviotti, N. Stieglitz, M. Teubal, S. Toms, N. Wadeson, O. Weinstein, J.F. WilsonTable of ContentsContents: Preface PART I: INTRODUCTION 1. The Economics and Theory of the Firm Michael Dietrich and Jackie Krafft PART II: BACKGROUND 2. The Obscure Firm in the Wealth of Nations Michael H. Best 3. Marx Ugo Pagano 4. Alfred Marshall and the Marshallian Theory of the Firm Jacques-Laurent Ravix 5. Veblen, Commons and the Theory of the Firm Geoffrey M. Hodgson 6. Schumpeter Gerhard Hanappi 7. Berle and Means Cécile Cézanne 8. John Kenneth Galbraith and the Theory of the Firm Stephen P. Dunn 9. Managerial Theories: Baumol and Marris Olivier Weinstein 10. Behavioural Theory Peter E. Earl PART III: EQUILIBRIUM AND NEW INSTITUTIONAL THEORIES 11. Agency Theory, Corporate Governance and Finance Hong Bo and Ciaran Driver 12. Hybrid Governance Albert Jolink and Eva Niesten 13. Transaction Cost Empirical Work Richard Carter PART IV: THE MULTINATIONAL FIRM 14. The Multinational Firm: Characteristics, Activities and Explanations in Historical Context Grazia Ietto-Gillies 15. Internationalization Theory Mark Casson and Nigel Wadeson 16. The Japanese Firm: From the Analysis of a Model to the Understanding of its Increasing Heterogeneity Sébastien Lechevalier 17. The European Firm Alessandra Colombelli and Francesco Quatraro PART V: DYNAMIC APPROACHES TO THE FIRM 18. Edith Penrose and George Richardson Brian J. Loasby 19. Nelson and Winter Revisited Markus C. Becker and Thorbjørn Knudsen 20. Modern Resource-based Theory(ies) Nicolai J. Foss and Nils Stieglitz 21. Cognitive Theory of the Firm: A Pragmatic Perspective Bart Nooteboom PART VI: MODERN ISSUES 22. Revisiting Chandler on the Theory of the Firm Steven Toms and John F. Wilson 23. Financialization and the Firm Michel Aglietta and Antoine Rebérioux 24. Firm Growth: Empirical Analysis Alex Coad and Werner Hölzl 25. Corporate Governance, Innovative Enterprise, and Executive Pay William Lazonick 26. Innovative Platforms, Complexity and the Knowledge-Intensive Firm Pier Paolo Patrucco 27. Small Firms and Industrial Districts Marco Bellandi and Lisa De Propris PART VII: FIRM STRATEGIES 28. Mergers and Acquisitions and Firm Performance Myriam Cloodt and John Hagedoorn 29. R&D and the Firm Pier Paolo Saviotti 30. Creating Novelty through Vertical Relationships between Groups of Complementary Players Martin Fransman 31. Product Innovation when Consumers have Switching Costs Evens Salies 32. Modularity and its Implications for the Theory of the Firm Andreas Reinstaller 33. Innovation Networks Tobias Buchmann and Andreas Pyka PART VIII: ECONOMIC POLICY AND THE FIRM 34. Cartel and Monopoly Policy Hugues Bouthinon-Dumas and Frédéric Marty 35. R&D and Industrial Policy: Policies to Coordinate Investments in Research under Radical Uncertainty Jean-Luc Gaffard, Sarah Guillou and Lionel Nesta 36. Public Policy in an Entrepreneurial Society Zoltan J. Acs 37. The Regulated Firm in Liberalized Network Industries Aad Correljé, John Groenewegen and Jan Jaap Bouma 38. From the Corporation to Venture Capitalism: New Surrogate Markets for Knowledge and Innovation-led Economic Growth Cristiano Antonelli and Morris Teubal Index

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Book SynopsisFor the last four decades, researchers in various disciplines have been trying to explain the enduring paradox of the growing activity and volume of mergers and acquisitions (M&A) versus the high failure rate of M&A. This handbook will stimulate scholars to focus on new research directions.The contributors explore how underlying concepts and methodologies can make an important contribution towards understanding M&A and their performance. This authoritative volume presents research that incorporates multidisciplinary, multi-level, multi-stage and cross-cultural models and analyses, and also focuses on such issues as process-content, knowledge transfer, due diligence, performance measures, communication, trust, grief, integration approaches, individual values, change management, and consulting.Scholars interested in research on strategy as well as Masters and PhD students on mergers and acquisitions courses will find much of value in this compilation.Contributors include: M.F. Ahammad, N.M. Ashkanasy, Z.R. Bachar, A.F. Buono, K.M. Ellis, P.-G. Hourque, P. Junni, M.H. Kavanagh, B.T. Lamont, M.L. Mark, O. Meglio, E. Metais, P.H. Mirvis, A.L. Ranft, T.H. Reus, A. Risberg, R.M. Sarala, A.-M. Søderberg, G.K. Stahl, S. Tarba, E. Vaara, P. Very, Y. WeberTable of ContentsContents: Introduction Yaakov Weber PART I: NEW MODELS AND EMPIRICAL FINDINGS ON CONNECTIONS BETWEEN M&A STAGES 1. The Role of Trust in Mergers and Acquisitions: A Conceptual Framework and Empirical Evidence Günter K. Stahl 2. Integration of International Mergers and Acquisitions: Test of a New Paradigm Yaakov Weber, Shlomo Yedidia Tarba, Günter K. Stahl and Ziva Bachar-Rozen PART II: RESEARCH AGENDA AND THEORETICAL DEVELOPMENT ON CONNECTION BETWEEN M&A STAGES AND CONTEXT VARIABLES 3. A Research Agenda to Increase Merger and Acquisition Success Mitchell Lee Marks and Philip H. Mirvis 4. Placing Process Factors Along with Contextual Factors in Merger and Acquisition Research Taco H. Reus, Kimberley M. Ellis, Bruce T. Lamont and Annette L. Ranft 5. The Dynamics of Knowledge Transfer in Mergers and Acquisitions Paulina Junni, Riikka M. Sarala and Eero Vaara PART III: METHODOLOGICAL ISSUES IN M&A RESEARCH 6. Merger and Acquisition Outcomes – Is it Meaningful to Talk About High Failure Rates? Annette Risberg and Olimpia Meglio 7. Researching Mergers and Acquisitions with the Case Study Method: Idiographic Understanding of Longitudinal Integration Processes Lars Bengtsson and Rikard Larsson 8. Individual Values and Organizational Culture During a Merger: Immovable Objects or Shifting Sands? Marie H. Kavanagh and Neal M. Ashkanasy PART IV: NEW AND UNDER-EXPLORED CONTEXT AND PROCESS VARIABLES IN VARIOUS M&A STAGES 9. Facilitating Mergers through Management and Organization of Communication: An Analysis of Strategic Communication in a Cross-Border Merger Anne-Marie Søderberg 10. Determinants of Top Management Retention in Cross Border Acquisitions Mohammad Faisal Ahammad, Keith W. Glaister, Yaakov Weber and Shlomo Yedidia Tarba 11. Grief and the Management of Mergers and Acquisitions Philippe Very, Emmanuel Metais and Pierre-Guy Hourquet Index

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Book SynopsisMergers and acquisitions are one of the cornerstones of firm growth, and have attracted considerable attention from the scholarly research community in the last three decades. Several studies have concluded that M&A transactions do not result in better performance, and can even erode the acquiring firm's shareholder value to produce highly volatile market returns. Others have identified reasons for such inefficiencies. However, very little attention has been given to business evaluation process as an influencing factor. This thirtieth volume in the acclaimed International Business & Management series investigates how the processes involved in the evaluation of a target firm influence the outcome of M&As. Co-authored by international business expert Pervez Ghauri, it highlights the processes that should be followed to evaluate potential acquisition targets, and how a proper evaluation can influence the M&A performance. It encourages greater reliance on the strength and independence of the business evaluation process, and brings clarity in understanding the relationship between different components of business evaluation.Table of ContentsSignificance of Mergers and Acquisitions. Introduction. Concept of Mergers and Acquisitions. Business Evaluation and Mergers and Acquisitions. Mergers and Acquisitions Failures. Research Design. Empirical Evidence. Comparative Case Study Analysis. Discussion and Conclusion. Evaluating Companies for Mergers and Acquisitions. List of Tables. List of Figures. About the Authors. Preface. References. International Business & Management. Evaluating Companies for Mergers and Acquisitions. Copyright page. Significance of Mergers and Acquisitions. Introduction. Concept of Mergers and Acquisitions. Business Evaluation and Mergers and Acquisitions. Mergers and Acquisitions Failures. Research Design. Empirical Evidence. Comparative Case Study Analysis. Discussion and Conclusion. Evaluating Companies for Mergers and Acquisitions. List of Tables. List of Figures. About the Authors. Preface. References. International Business & Management. Evaluating Companies for Mergers and Acquisitions. Copyright page. Significance of Mergers and Acquisitions. Introduction. Concept of Mergers and Acquisitions. Business Evaluation and Mergers and Acquisitions. Mergers and Acquisitions Failures. Research Design. Empirical Evidence. Comparative Case Study Analysis. Discussion and Conclusion. Evaluating Companies for Mergers and Acquisitions. List of Tables. List of Figures. About the Authors. Preface. References. International Business & Management. Evaluating Companies for Mergers and Acquisitions. Copyright page.

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What makes the ""Advances in Mergers and Acquisitions"" series stand out is its focus on all three characteristics that make up this research field - studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad, and inclusive, approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The collections published each year provide cutting edge ideas by leading scholars on a global scale. Doing so not only broadens the questions being studied, but also helps researchers consider the inter-relationships among different perspectives. In the final analysis, the best way to build understanding around a topic as diffuse as mergers and acquisitions is to be both integrative, and expansive, in choice of research questions and theoretical underpinnings. ""Advances in Mergers and Acquisitions"" offers this unique perspective, not easily found elsewhere, that will help scholars think about mergers and acquisitions in new ways, building our knowledge base on this critical topic.

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Book SynopsisBased on face-to-face interviews with over 20 self-made billionaires.There are thousands of books on millionaire thinking. The knowledge they offer isn't enough to get you to the highest ranks of wealth. The richest people of our times are billionaires. Only 1 in 5 million world citizens belongs to this group. Billionaires are extremely rare, and their mindset differs hugely from that of ordinary millionaires."The Billion Dollar Secret" offers firsthand knowledge of billionaire entrepreneurs told in their own words. Never before has someone interviewed 20+ self-made billionaires across the world for a book project. The author worked for years with some of the very best entrepreneurs on the planet and distilled their secrets into 20 mental principles that enabled them to start from zero and create billions of dollars in value during one life span.This book gives you the road map to follow their path to extreme wealth and success.There is no other book available anywhere in the world that contains this much entrepreneurial experience, insight, and wisdom in it. from the Foreword by Jack Canfield, multiple #1 New York Times best-selling author of The Success Principles and the Chicken Soup for the Soul seriesThis book is recommended by billionaires:I recommend all entrepreneurs to have a look at this sensational book. Cho Tak Wong, self-made billionaire and the World Entrepreneur of the Year 2009Rafael Badziag has compiled a [. . .] book about what it is to be a billionaire in the world of digital and exponential growth. Chip Wilson, self-made billionaire, founder of Lululemon AthleticaI highly recommend this book. It is a very thoroughly researched book on successful philosophies of life. Tony Tan Caktiong, self-made billionaire and the World Entrepreneur of the Year 2004The following billionaires contributed to this book: Manny Stul, the World Entrepreneur of the Year 2016 Mohed Altrad, the World Entrepreneur of the Year 2015 Cho Tak Wong (Cao Dewang), the World Entrepreneur of the Year 2009 Tony Tan Caktiong, the World Entrepreneur of the Year 2004 N. R. Narayana Murthy, the World Entrepreneur of the Year 2003 Jack Cowin Cai Dongqing Sergey Galitskiy Peter Hargreaves Frank Hasenfratz Navin Jain Kim Beom-Su Hüsnü Özyegin Lirio Albino Parisotto Dilip Shanghvi Ron Sim Micha? So?owow Petter Stordalen Frank Stronach Chip Wilson

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Book SynopsisGlobal in scope and written by leading scholars in the field, the Research Handbook on Mergers and Acquisitions is a modern-day survey providing cutting edge analysis of the state of M&A using history, theory, and empirical work, and also providing a theoretical framework for future research and development in the field.Its chapters explore the history of mergers and acquisitions, considering the theory behind the structure of modern transaction documentation. The authors also address other key M&A issues, such as takeover defenses; judges and practitioners' perspectives on litigation; the appraisal remedy and other aspects of Federal and state law, as well as M&A considerations in the structure of start-ups. The book's coverage is novel as well as broad, broaching comparative issues and shareholder activism in addition to more traditional areas.This Research Handbook will be an invaluable resource for scholars, practitioners, judges and legislatorsTrade Review'In this book, a group of eminent scholars bring takeovers back to the forefront of corporate governance debate. The book examines M&A from a range of perspectives -- historical, economic, legal, transactional and comparative. It pays particular attention to how legal doctrine affects M&A deals in the real world, and assesses the impact of contemporary developments, such as the rise of shareholder activism. Highly recommended for all those interested in corporate governance generally, and M&A in particular.' --Jennifer Hill, The University of Sydney, AustraliaTable of ContentsContents: PART I History and Overview 1. Mergers and Acquisitions: A Cyclical and Legal Phenomenon Claire A. Hill, Brian J.M. Quinn and Steven Davidoff Solomon 2. M&A Contracts: Purposes, Types, Regulation and Patterns of Practice John C. Coates 3. The Market for Corporate Control: Survey of the Empirical Evidence, Estimation Issues, and Potential Areas for Future Research Darius Palia PART II Foundational Principles 4. The Modern Business Judgement Rule D. Gordon Smith 5. Equivalence: Form and Substance in Business Acquisitions Charles K. Whitehead PART III Transaction Structuring 6. A Founders’ Guide to Unicorn Creation: How Liquidation Preferences in M&A Transactions Affect Start-up Valuation Robert P. Bartlett 7. Addressing Informational Challenges with Earnouts in Mergers and Acquisitions Albert H. Choi PART IV Takeover and Deal Defenses 8. Takeover Defenses: The Lay of the Land and Disputed Sign Posts Jordan M. Barry 9. Staggered Boards: Practice, Theory, and Evidence Simone M. Sepe 10. Deal Protection Devices: The Negotiation, Protection, and Enforcement of M&A Transactions Megan Wischmeier Shaner PART V Standards of Review 11. The Role of Judicial Opinions in Shaping M&A Practice Lawrence A. Hamermesh and Jacob J. Fedechko 12. The Reconfiguring of Revlon Lyman Johnson 13. Freezeouts: Doctrine and Perspectives Fernán Restrepo and Guhan Subramanian PART VI Litigation 14. Settlements and Fees in Merger Litigation Sean J. Griffith 15. Lead Plaintiffs and Lead Counsel in Deal Litigation David H. Webber PART VII Statutory Issues 16. The Deterrence Value of Stockholder Appraisal Charles R. Korsmo and Minor Myers 17. Tender Offers and Disclosure: The History and Future of the Williams Act Christina M. Sautter PART VIII Shareholder Activism 18. Activist Stockholders, Corporate Governance Challenges, and Delaware Law Donald F. Parsons, Jr. and Jason S. Tyler 19. Short and Long Term Investors (and Other Stakeholders Too): Must (and Do) Their Interests Conflict? Claire A. Hill and Brett H. McDonnell PART VIII Comparative Perspectives 20. Canadian M & A: A Comparative Perspective Christopher C. Nicholls 21. Legal Transplants in the Law of the Deal: M&A Agreements in India Afra Afsharipour Index

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Book SynopsisThis book collects some of the author's most illuminating recent papers on competition policy published since the turn of the millennium. They focus on three main themes: how technological innovation leads to monopolistic market structures and is reciprocally influenced by them; how competition agencies deal with the links from merger to economic efficiency, static and dynamic; and the behavioral problems posed by 'tacit' collusion and monopoly power in vertical market chains. Taken together they provide unique insight into competition, mergers and monopolies from one of the leading pioneers in the field.Table of ContentsContents: Introduction F.M. Scherer PART I MONOPOLIES AND MONOPOLIZATION 1. F.M. Scherer (2008), ‘Technological Innovation and Monopolization’, in Wayne D. Collins and Joseph Angland (eds), Issues in Competition Law and Policy, Volume II, Chapter 44, Chicago, IL, USA: American Bar Association, 1033–68 2. F.M. Scherer (2011), ‘Standard Oil as a Technological Innovator’, Review of Industrial Organization, 38 (1), May, 225–33 3. F.M. Scherer (2003), ‘Microsoft and IBM in Europe’, Antitrust and Trade Regulation Report, 84 (2090), January 24th, 65–6 4. Frederic M. Scherer (2013), ‘Abuse of Dominance by High Technology Enterprises: A Comparison of U.S. and E.C. Approaches’, Economia e Politica Industriale – Journal of Industrial and Business Economics, 38 (1), March, 39–62 PART II MERGER POLICY 5. F.M. Scherer (2006), ‘A New Retrospective on Mergers’, Review of Industrial Organization, 28 (4), June, 327–41 6. F.M. Scherer (2012), ‘Merger Efficiencies and Competition Policy’, Organisation for Economic Co-operation and Development Note DAF/COMP/WD(2012)47, October, 2–9 7. F.M. Scherer (2009), ‘On the Paternity of a Market Delineation Approach’, American Antitrust Institute Working Paper #09-01, February, 2–10 8. William S. Comanor and F.M. Scherer (2013), ‘Mergers and Innovation in the Pharmaceutical Industry’, Journal of Health Economics, 32 (1), January, 106–13 PART III OTHER MONOPOLISTIC PRACTICES 9. F.M. Scherer (2015), ‘The Federal Trade Commission, Oligopoly, and Shared Monopoly’, Review of Industrial Organization, 46 (1), February, 5–23 10. F.M. Scherer (2004), ‘Vertical Relations in Antitrust: Some Intellectual History’, Antitrust Bulletin, 49, Winter, 841–58 11. Brief for William S. Comanor and Frederic M. Scherer as Amici Curiae Supporting Neither Party (2006), Leegin Creative Leather Products, Inc., Petitioner v. Psks, Inc., Respondent’, the Supreme Court of the United States of America, No. 06-480, title page, i–iii, 1–11 12. F.M. Scherer (2004), ‘Retailer-Instigated Restraints on Suppliers’ Sales: Toys “R” Us (2000)’, in John Kwoka and L.J. White (eds), The Antritrust Revolution, 4th edn, Case 16, Oxford, UK: Oxford University Press, 441–55 13. Frederic M. Scherer (2012), ‘Class Actions in the U.S. Experience: An Economist’s Perception’, in Jürgen G. Backhaus, Alberto Cassone and Giovanni B. Ramello (eds), The Law and Economics of Class Actions in Europe: Lessons from America, Chapter 3, Cheltenham, UK and Northampton, MA, USA: Edward Elgar Publishing, 27–36 PART IV POLICY FOR DEVELOPING COUNTRIES 14. F.M. Scherer and Jayashree Watal (2014), ‘Competition Policy and Intellectual Property: Insights from Developed Country Experience’, John F. Kennedy School of Government Faculty Research Working Paper RWP14-013, February, 1–33 Index

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Book SynopsisThese ten chapters explore sequential aspects of the M & A process, from the pre-combination phase, to issues that should be taken into account when considering a merger or acquisition, to post-merger integration concerning the determinants of acquisition performance.Table of ContentsManaging the Precombination Phase of Mergers and Acquisitions. Why is Gender not Debated in M&A?. Configuring Management Buyouts to Ensure Value Fairness. Strategic Investment Decision-Making Perspectives. Optimizing Private Middle-Market Companies for M&A and Growth. Leveraging Social Networks in Mergers: A Roadmap for Post-Merger Integration. Post-Merger Integration: Looking under the Haziness of Culture Conflict. Identity: An Instrument for Mergers and Acquisitions. Determinants of Acquisition Performance: A Multi-Industry Analysis. Copyright page. Advances in Mergers and Acquisitions. Introduction. List of Contributors. Advances in Mergers and Acquisitions. Advances in Mergers and Acquisitions.

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The papers published in this volume provide cutting edge ideas by leading scholars, and help to inform mergers and acquisitions research around the world.Table of ContentsThe Role of Thriving and Training in Merger Success: An Integrative Learning Perspective - Mahima Thakur, Anjali Bansal and Peter Stokes On the Role of the Political Regime in the Choice Between International Acquisitions and Joint Ventures When Entering an Emerging Market: Evidence from Russia - Olivier Bertrand, Marie-Ann Betschinger, Nina Bertschy and Roman Shidlauskas Cultural Due Diligence in Mergers and Acquisitions - Daniel R. Denison and Ia Ko Transitional Governance Trajectories: Organization, Place, and Space - Isabel Estrada, Florian Noseleit and Killian Mccarthy Are Mergers and Acquisitions Socially Responsible? Evidence from the Banking Industry - Olimpia Meglio Interaction of Cultural and Technological Distance in Cross-Border, High-Technology Acquisitions - Pankaj C. Patel and David R. King Peering into the Executive Mind: Expanding Our Understanding of the Motives for Acquisitions – Adam Steinbach, Cynthia E. Devers, Gerry Mcnamara and Jingyu Li Related Diversification: A Critical Reflection of Relatedness and the Diversification-Performance Linkage - Martin Weiss

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Book SynopsisThe decision to carry out a merger or acquisition is certainly a risky one, not least because of the number of variables influencing the final outcome. It is also a decision frequently based on the wrong objectives and an incorrect evaluation process. With this in mind, this important new book offers solutions for reducing the high percentage of mergers and acquisitions (M&As) that fail. It adopts a normative approach, using theoretical analysis to show what managers could and should do to increase shareholders' value through successful M&A strategies. It also explores the conditions that are suitable for favouring a certain type of M&A (horizontal, vertical or diversified) over the others.The author presents various analytical models combined with a selection of case studies to demonstrate the relevant conditions under which each type of strategy can create value. The book analyses different types of M&As, the specific sources of synergy and the way value can be calculated. An integrated analysis of potential synergies, their evaluation and the modifications to the organizational structure necessary for implementation is also included. In conclusion, the book presents some case studies of successful M&A strategies providing a link between theory and practice. Building upon traditional theories and providing original and innovative analysis, this is an essential book for students and scholars in economics, business and strategic management, as well as managers and consultants seeking an analytical and practical understanding of M&A strategies.Table of ContentsContents: Preface PART I HOW TO MAKE M&As PERFORM SUCCESSFULLY: RATIONALES AND MODELS 1. Basic terminology, concepts and types of M&As 2. Data and empirical evidence on M&A performance 3. Making M&As create value: an analytical model for evaluating M&As 4. Identifying the opportunities for successful M&As 5. Horizontal M&As 6. Vertical M&As 7. Diversified M&As 8. Financing M&As and effects on merger value 9. Organizational structures and procedures for implementing merger 10. Conclusions: how to make M&As successful PART II THREE EMBLEMATIC CASES OF SUCCESSFUL M&As 11. The M&A strategies of L’Oréal 12. The M&A strategies of Campari 13. The M&A strategies of Luxottica Index

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The chapters published in this volume provide cutting edge ideas by leading scholars, and help to inform mergers and acquisitions research around the world.Trade ReviewBusiness, management, and other researchers from the US, UK, Asia, Europe, and Canada provide 10 essays on aspects of mergers and acquisitions, including pre-merger/acquisition, strategic decisions, post-merger/acquisition, and ethical issues. They discuss firms with strategic alliances that are moving into acquisitions, the management styles of organizations, the decision to retain and reduce human resources, strategic investment appraisals, the role of special purpose acquisition companies, how business model relatedness influences performance implications in mergers and acquisitions, training during the transition stage, the PMI (post-merger integration) risk framework for classifying and identifying risks that might inhibit post-merger success, post-merger order negotiation, and ethical evaluations of the impacts of mergers and acquisitions. -- Annotation ©2017 * (protoview.com) *Table of ContentsIntroduction; Cary L. Cooper and Sydney Finkelstein Chapter 1 Alliances to Acquisitions: a road map to advance the field of strategic management; Rimi Zakaria and Omer F. Genc Chapter 2 Pre-M&A "Leadership"?: might behavioral due diligence assessment be the answer?; Judith Gebhardt Chapter 3 The Decision to Retain and Reduce Human Resources in Mergers and Acquisitions; Ralph E. McKinney Jr, Lawrence P. Shao, Dale H. Shao and Marjorie L. McInerney Chapter 4 Strategic Investment Appraisal: multidisciplinary perspectives; Fadi Alkaraan Chapter 5 Can SPACs Ensure M&A Success?; Kamal Ghosh Ray and Sangita Ghosh Ray Chapter 6 Mergers and Acquisitions Revisited: the role of business model relatedness; Timo Sohl and Govert Vroom Chapter 7 Training During Transitions: the context of a developing economy; Anjali Bansal Chapter 8 Dissecting Post-Merger Integration Risk: the PMI risk framework; Terrill L. Frantz Chapter 9 Getting Beyond Culture Clashes: a process model of post-merger order negotiation; Muriel Mignerat and Katty Marmenout Chapter 10 A Stakeholder Framework for Evaluating the Impact of Mergers and Acquisitions; David J. Burns & Nick Collett

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Book SynopsisFor many industries, mergers and acquisitions have become the main pathway for reaching strategic objectives like growth, technological leadership, or efficiency in production and distribution. However, the success rate of most M&A deals is low - and flawed. Unrealistic synergies, wrong target selection, culture clashes and, most of all, weak post-merger integration processes pose huge challenges, and this book addresses the salient question of how to make M&A deals work. The authors offer readers unique access to each stage of the M&A process, with added depth and perspective provided by Prysmian - the global leader in energy and telecom cables. Prysmian's perspective enables the authors to deliver a manual for successful M&A in mature industries that require high levels of integration between operating companies. This collection of existing M&A experiences that identify clear action steps will be an essential tool for managers to develop their growth strategies and accelerate their post-merger integration processes. This guide will also prove useful for practitioners and academics as they seek to improve the ability of firms to conduct M&A, through dissemination in academic and executive classrooms.Trade ReviewTwo professors at Bocconi University and an employee of Prysmian describe the world’s largest cable manufacturer’s experiences acquiring smaller companies and their success integrating the companies into the larger corporate strategy and culture. Their merger and acquisition process model helps corporations define a value-generating strategy, screen candidates, conduct negotiations, close the deal, and support post-merger integration. Examples of other companies’ acquisition attempts illustrate lessons learned about target selection, due diligence, and merger implementation. -- Annotation ©2018 * (protoview.com) *Table of Contents1. INTRODUCTION 2. STRATEGY 3. TARGET SELECTION 4. DUE DILIGENCE 5. NEGOTIATION AND DEAL CLOSING 6. POST-MERGER INTEGRATION

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The chapters published in this volume provide cutting edge ideas by leading scholars, and help to inform mergers and acquisitions research around the world.Trade ReviewThis volume contains eight essays by business and economics scholars from Europe, Asia, and the US, who consider aspects of mergers and acquisitions: ethnographic methods for studying them; whether company performance improves after a merger or acquisition; the role of Japanese firms' announcement of mergers and acquisitions budgets; cross-border mergers and acquisitions in related and technology-intensive industries; the impact of business news reports on acquirer short-term performance; acquisitions as a form of corporate entrepreneurship; the influences of social media on human resources in mergers and acquisitions; and retention strategies in mergers and acquisitions processes. -- Annotation ©2018 * (protoview.com) *Table of ContentsIntroduction; Cary L Cooper and Sydney Finkelstein Chapter 1. Reflecting on the Use of Ethnographic Methods in the Study of Mergers; Satu Teerikangas and Noelia-Sarah Reynolds Chapter 2. Does Company Performance Improves After M&A? A Literature Review; Joaquin Sanz BerrioaTegortua, Olga del Orden Olasagasti and Beatriz Palacios Florencio Chapter 3. Examination of Japanese Firms' Announcement of M&A Budgets: From the Perspective of Signaling Theory and Impression Management Theory; Katsuhiko Shimizu and Daisuke Uchida Chapter 4. Cross-border M&As in related & technology-intensive industries: Evidence on the dynamics of spatial distance, industry context, and completion likelihood of international takeovers; Elisa Labbas, Padma Rao Sahib and Trang Thu Doan Chapter 5. Bearers of (good) News: The Impact of Business News Reports on Acquirer Short-Term Performance; Jiachen Yang and Michel W. Lander Chapter 6. Acquisitions as Corporate Entrepreneurship; David R. King, Svante Schriber, Florian Bauer and Sina Amiri Chapter 7. Advancing Research on the Influences of Social Media on Human Resources in Mergers and Acquisitions; Ralph McKinney, Lawrence Shao, Dale Shao and Marjorie McInerney Chapter 8. Retention Strategies in M&A Processes - an Exploratory Case Study on Turnover During Mergers and Acquisitions in the German Software Industry; Theresa Goecke, Björn Michaelis and Lars Schweizer

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspectives. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The chapters published in this volume provide cutting edge ideas by leading scholars, and help to inform mergers and acquisitions research around the world. Volume 18 of this annual series explores a range of issues that include: why the success rate of M&As is still limited; how Boards influence M&A activity; what the role of M&A advisors is; the role of diversity in the context of M&As; stakeholder relationships in the context of M&As; why research has not focussed on family businesses in the M&A field as much as it should; making M&As less risky as a strategic investment; merging cities; pre-merger and acquisition strategies and finally, how ‘value’ has been used or not used in M&As.Trade ReviewThis work seeks to create a research agenda for mergers and acquisitions (M&A). International contributors in organizational psychology, management, leadership, accounting, and management strategy employ various theoretical perspectives and research questions. Subjects include stakeholder relationships, family businesses, and due diligence. B&w graphs and summary charts are included. -- Annotation ©2019 * (protoview.com) *Table of ContentsChapter 1. A Research Agenda to Increase Merger and Acquisition Success; Mitchell Lee Marks Chapter 2. Board Interlocks and M&As; Mike W. Peng & Joyce C. Wang Chapter 3. M&A Advisors: Padding Their Pockets or Source of Expertise?; Janice M. Gordon, Gonzalo Molina Sieiro, Kimberly M. Ellis & Bruce T. Lamont Chapter 4. Workplace Diversity and Gender in Merger and Acquisition Research; Annette Risberg & Sofie Skovbo Gottlieb Chapter 5. An Australian Case Study of Stakeholder Relationships in a Mergers and Acquisitions Event; Simon Segal, James Guthrie & John Dumay Chapter 6. Family Businesses: Building a Merger and Acquisition Research Agenda; Olimpia Meglio & David R. King Chapter 7. Making M&A Less Risky: The Influence of Due Diligence Processes on Strategic Investment Decision-Making; Fadi Alkaraan Chapter 8. Merging Cities; Janne Tienari, Kari Jalonen & Virpi Sorsa Chapter 9. Varieties of Value in Mergers and Acquisitions: Time For a New Research Agenda; Sally Riad & Urs Daellenbach

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The chapters published in this volume provide cutting edge ideas by leading scholars and help to inform mergers and acquisitions research around the world. Volume 20 of this annual series explores a range of issues relevant to a post-Covid world and the ensuing recession. These include creative ways to bridge the gaps between buyers and sellers, mitigating cross border acquisition uncertainties, M & A investment decision-making, as well as how customers experience an acquisition and whether merging firms perceive their customers as assets to trade or as stakeholders to engage. This book is of interest to scholars in strategic management, organization theory, and organizational behaviour who are studying questions around mergers and acquisitions. Doctoral students in particular will benefit from access to the diversity of research that can trigger new research questions and expanded research agendas.Table of ContentsChapter 1. An M&A Guidebook for a Post-Pandemic World: Creative Ways to Bridge the Gaps between Buyers and Sellers after the Covid-19 Pandemic; Andrew J. Sherman and Paul Pryzant Chapter 2. Mitigating Cross Border Acquisition Uncertainties: The Role of Organizational Slack and Acquisition Experience; Konstantinos Bozos, Vassiliki Bamiatzi, and Tamer Cavusgil Chapter 3. Reactions to Acquisition Announcements and Acquisition Completion; David R. King, Wei Shi, and Brian L. Connelly Chapter 4. Strategic Investment Decision-Making Covid 19 - M&A Towards Industry 4.0; Fadi Alkaraan Chapter 5. Mergers, Acquisitions, and the Marriage Metaphor: Time for a (Re)Look?; Mats Persson and Magnus Frostenson Chapter 6. A Customer-based Perspective in Mergers and Acquisitions; Carol Mari and Olimpia Meglio Chapter 7. Employee Perspective on Mergers and Acquisitions (M&As): A State-of-the-Art Literature Review and Synthesis; Benjamin Kempton and Riikka M Sarala Chapter 8. Looking at the Other Side of the Fence: A Comparative Review of the Mergers and Acquisitions, and Strategic Alliances Literatures; Emanuel Gomes

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. Volume 21 of this annual series explores a range of issues relevant to a post-Covid world and the ensuing recession – from the perks and pitfalls of cross-legacy boundary-spanning and the role of inimical resources in managerial decisions, to the synergy between industry 4.0 and the circular economy and the role of M&A advisors in cross-border acquisitions, the chapters published in this volume provide cutting edge ideas by leading scholars and help to inform mergers and acquisitions research around the world. This collection of research is of interest to scholars in strategic management, organization theory, and organizational behaviour who are studying questions around mergers and acquisitions. Doctoral students in particular will benefit from access to the diversity of research that can trigger new research questions and expanded research agendas.Table of ContentsChapter 1. Understanding the Perks and Pitfalls of Cross-Legacy Boundary-Spanning; Stefan Breet and Lotte Glaser Chapter 2. Manager Decisions Across Acquisition Phases: The Role of Inimical Resources; Elio Shijaku and David R. King Chapter 3. The Interrelationship Between the Target and the Acquirer in Acquisitions: A Review and Synthesis; Di Bian Chapter 4. A New Era of Mergers and Acquisitions: Toward Synergy Between Industry 4.0 and Circular Economy; Fadi Alkaraan Chapter 5. Bridging Institutional Distance: The Role of M&A Advisors in Cross-border Acquisitions; Tao Han and Addis Gedefaw Birhanu Chapter 6. The Role of Acquisition Experience in Acquirer-Advisor Relationship Formation and Continuation; Mazhar Islam, Carmen Weigelt, and Haemin Dennis Park Chapter 7. CEO Power and Acquisition Performance: A Meta-Analysis; Xiaoying Wang

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics.Volume 23 of this annual series explores a range of issues, from cross-border mergers and acquisitions, MNE strategies and multi-business firms to outsourcing and strategic choices.This collection of new and current research highlights interesting behavioural themes as well as timely practical solutions to the dilemma of mergers and acquisitions failures. Advances in Mergers and Acquisitions Volume 22 is of interest to scholars in strategic management, organizational theory and behaviour who are studying questions around mergers and acquisitions. Doctoral students

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. Volume 22 of this annual series explores a range of issues relevant to a post-pandemic world– the cost-of-living crisis, energy insecurity, war in Ukraine and rising inflation are pushing many countries into recession, adversely affecting the global economy. This has led, and will continue to lead, to more downsizing, restructurings and inevitably to an increase in mergers and acquisitions. This collection of new and current research highlights interesting behavioural themes as well as timely practical solutions to the dilemma of mergers and acquisitions failures. Advances in Mergers and Acquisitions Volume 22 is of interest to scholars in strategic management, organizational theory and behaviour who are studying questions around mergers and acquisitions. Doctoral students will benefit from access to the diversity of research that can trigger new research questions and expanded research agendas.Table of ContentsChapter 1. Addressing Information Asymmetry in Acquisitions: The Role of Social Ties; Olimpia Meglio, David R King, and Elio Shijaku Chapter 2. The Role of Sustainability in Mergers and Acquisitions: A Literature Review; Mohammad Faisal Ahammad Chapter 3. Effects of Human Factors on Knowledge Sharing During Chinese Cross-border M&A Integration; Jean Wang and Lars Schweizer Chapter 4. A Triadic Process View Of Divestors, Targets and Acquirers; Dries Faems and Taco H. Reus Chapter 5. Private Company Seller Perspectives in Lower Middle Market M&As; Kenneth H. Marks, John A. Howard, and Anthony Stevenson Chapter 6. Acquirer's search for a partner: The role of inter-organizational relationships; Huma Javaid Chapter 7. A Review and Future Research Opportunities of the Post-Merger Integration Research Using the Social Network Perspective; Theresa M. Floyd and Wookje (UJ) Sung Chapter 8. Reflections on urgency in mergers and acquisitions: Views, reviews and directions for future research; Sally Riad and Urs Daellenbach Chapter 9. How Private Equity Investors Drive M&A Performance; Timo Paumen, David P. Kroon, and Svetlana N. Khapova Chapter 10. Microfoundations in M&A Research: Exploring the case of emotions; Joao Pedro Degado, Emanuel Gomes, and Pedro Neves

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Book SynopsisEverything you need to know about growing and selling a business: the opportunities, the pitfalls, advice to avoid, advice to seek, how to succeed and break free from today's struggles, who to trust and how to achieve your dreams. Chris Averill, successful entrepreneur, has been through it all and knows the inside tricks. In this time of crisis, his blueprint is the one all budding entrepreneurs need to read.; Over 50 practical tips from Chris and other successful business owners on how to get your business ready for sale, who to sell to and how to make the most money from the sale.; "I commend this volume to anyone embarking on a startup, or those who work with entrepreneurs. It is a wart and all, first-person tale of how to grow a company and make a fortune - and what to do afterwards!" - Luke JohnsonTrade Review"Build Sell Retire is inspiring. It offers a refreshingly candid look at starting, running and selling a successful business. Author Chris Averill writes witty and honest anecdotes about how he built his company. He doesn't shy away from sharing what went wrong along the way. Averill includes valuable lessons on how to rebound from setbacks with humour and heart." - Jill Martin Wrenn, Journalist;

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Book Synopsis This is a compelling guide to law firm M&A that will challenge your thinking. Find out what stops integration working by using the insight of a peer group of Managing Partners. Benefit from their hindsight on themes that are recurrent, this is practical and entirely relatable with useful anecdotes and case studies on best practice. Featuring every key aspect of the M&A process from inception to completion, there is advice on everything from strategy, culture, communications, finance, behaviour of partners and staff, client considerations, marketing and IT which will enable you to plan and focus on successful integration. Inspiring for those considering M&A and insightful for day-to-day management of professional services partnerships.

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Book SynopsisAdvances in Mergers and Acquisitions stands out from the competition due to its focus on three key characteristics: studies from scholars in different countries, with different research questions, relying on different theoretical perspective. Such a broad and inclusive approach to mergers and acquisitions is not easily replicated in academic journals, with much narrower mandates and metrics. The chapters published in this volume provide cutting edge ideas by leading scholars and help to inform mergers and acquisitions research around the world. Volume 19 of this annual series explores a range of issues that include: mergers waves, roll-up acquisitions, hostile takeovers, M&A experience, and decision-making, corporate governance, and innovation in mergers and acquisitions. This book is of interest to scholars in strategic management, organization theory, and organizational behaviour who are studying questions around mergers and acquisitions. Doctoral students in particular will benefit from access to the diversity of research that can trigger new research questions and expanded research agendas.Table of ContentsChapter 1. Is Timing Everything? The Timing of an M&A Announcement in a Merger Wave; Trang Thu Doan, Padma Rao Sahib, and Arjen van Witteloostuijn Chapter 2. Geographic Roll-up Acquisition Programs and Their Performance Implication; Natalia Vuori and Tomi Laamanen Chapter 3. How Acquirers Choose Legal Advisors: The Roles of Own Prior Experience and Broad and Selective Imitation of Others; Minh Thi Thu Vud and Salih Zeki Ozdemir Chapter 4. Mergers and Acquisitions as Strategic Decisions for a Decision-Making Theory; Cyndi Man Zhang Chapter 5. The Role of National Corporate Governance in EU-Acquisitions; Addis Gedefaw Birhanu and Philipp Geiler Chapter 6. Acquisitions for New Business Models; Christina Öberg Chapter 7. Hostile Takeover: Who Benefits from Virtual Business Combination? Kamal; Ghosh Ray

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Book SynopsisFast track route to mastering mergers and acquisitions Covers the key areas of M&A, from detailing how to structure different the types of transactions to meet varying objectives to the history of M&A activity and the impact of the Internet and other new technologies Examples and lessons from some of the world's most successful businesses, including Daimler-Chrysler, Vodaphone-Mannesman and UFJ Bank Includes a glossary of key concepts and a comprehensive resources guideTable of ContentsIntroduction to Mergers and Acquisitions What is a Merger or Acquisition? The Evolution of Merger and Acquisition Activity The E-Dimension: Impact of the Internet and Other New Technologies The Global Dimension The State of the Art In Practice: M&A Success Stories Glossary Resources Making it Work

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