Mergers and acquisitions
88 Citations•2019•
Alex Edmans, Gent’s £10m, William Harrison’s 20m
European Competition
No TL;DR found
Abstract
Mergers and acquisitions (M&A) are the single most transformative activity that a firm can undertake. Successful mergers can transform a company by creating substantial synergies, where the whole exceeds the sum of its parts. On the other hand, a misguided acquisition can waste billions of shareholders’ money. Daimler BenzChrysler, Sprint-Nextel, Quaker Oats-Snapple, AOL-Time Warner are just a few in a long list of mergers that destroyed value for shareholders.