Top Research Papers on Mergers and Acquisitions

The Basics Of Mergers And Acquisitions Investopedia April 19th, 2004 Mergers and acquisitions M amp A and corporate restructuring are a big part of the corporate finance world Wall Street investment bankers routinely arrange M amp A transactions bringing separate mergers and acquisitions bbc news, mergers and acquisitions top 7 m amp a targets of 2018, mergers amp acquisitions assegaf hamzah amp partners, mergers and acquisitions cfainstitute org, mergers and acquisitions a complete guide cleverism, mergers amp acquisitions financial times, mergers and acquisitions light up the cannabis sector...

Chapter 11 argues that mergers and acquisitions (M&As) can be an important strategic tool for acquiring capabilities needed to improve organizational effectiveness, relevance, and competitiveness. However, typically M&As within the sector are rare and often reactive in nature. They usually involve the joining together of a smaller, financially stressed organization with a larger, healthier TNGO looking to expand. Much less common are more proactive M&A efforts where both partners come together from positions of strength. M&As appear to be underutilized as a strategic tool to increase scale and...

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.

“It’s a Porsche – No! It’s a hedge fund...” In 2008 Porsche shocked the world as it appeared to take on hedge funds and made spectacular profits, three times more money than they made from selling cars. This spawned the popular joke that Porsche is “an investment bank with a car showroom attached” 2 . A lacuna in the German laws on disclosure allowed Porsche to build up a secret options stake in Volkswagen of which the investment market was not aware. The result was a grand squeeze on hedge funds and exogenous profits for Porsche. Since these events the hedge funds have complained bitterly abo...

This chapter focuses on mergers and acquisitions (M&A), entailing going-private transactions, tender offers, proxy contests, mergers, and similar types of transactions. While the framework established by the SEC and Congress on the federal level is commendable, significant gaps exist. This chapter focuses on these gaps and recommends specified measures that should be implemented. The recommended measures are directed toward elevating the federal government’s role to serve as the principal regulator overseeing the M&A process. Among the measures that should be adopted are that: state anti-takeo...

There are many types of mergers and acquisitions (M&A), be they a minority acquisition to explore a potential high growth emerging market, a takeover of a financially distressed firm with the aim of turning it around, or a private equity firm seeking short- to medium-term returns. The terms “merger” and “acquisition” are often used interchangeably, even though they have distinct denotations: In an acquisition, the acquirer purchases the majority of the shares (over 50%) of another company (the “target”) or parts of it (e.g., a business unit or a division). In a merger, a new company is formed ...

A one-stop guide to the local practical issues involved conducting transactions in a foreign country. Business executives and their adversaries participating in a transaction in a foreign country need a clear and concise framework of understanding, which will enable them to identify the critical issues likely to affect the course of the deal and to formulate the questions on which detailed advice will be needed. Now firmly established and respected as a major reference work on the subject, Corporate Acquisitions and Mergers provides a one-stop guide to the local practical issues involved. Some...

Mergers & Acquisitions stellen für Unternehmen unterschiedlichster Größenklasse ein essenzielles Instrument der strategischen Unternehmensführung dar. Dabei hängt der Erfolg eines M&A-Vorhabens maßgeblich von einer optimalen Transaktionsvorbereitung, einer zügigen Durchführung und der Erfahrung der involvierten Parteien ab. Dieses Buch ist als praxisnaher M&A-Leitfaden konzipiert. Neben der Auseinandersetzung mit wichtigen Grundlagen im Bereich Mergers & Acquisitions steht vor allem eine strukturierte und fundierte Untersuchung der einzelnen Prozessschritte eines typischen Unternehmensverkau...

Are you thinking about merge or acquire another business in Chicago? Then we are providing all strategic components of M&A process. Hire top quality M&A for legal issues and at very affordable cost. We provide all aspects of strategic management, corporate...

Will Kenny, CommSec Investment Adviser. There are encouraging signs which point to an upturn in M&A for FY15. Greater economic stability in the US and the Eurozone, rising equity markets and stronger business conditions.

As finance literature suggests, an option is valuable. The major finding of this study is that lockup options and collar offers in bank merger transactions are important terms in determining the bid premiums offered to the target, after controlling for the salient financial and deal-specific variables. The findings are somewhat consistent with Burch(2001) and Fuller(2003). This paper also finds that synergy is positively related to merger premiums, but the effect is significant only in intrastate mergers when large banks takeover relatively smaller banks. The structure cf the dealt pooling vs....

Mergers and acquisitions represent the ultimate in change for a business. No other event is more difficult, challenging as a merger and acquisition. It is imperative that everyone involved in the process has a clear un- derstanding of how the process works. Hopefully this short course will provide you with a better appreciation of what is involved. You might be asking yourself, why do I need to learn the merger and acquisition (M & A) process? Well for starters, mergers and acquisi- tions are now a normal way of life within the business world. In today's global, competitive environment, merger...

Mergers and Acquisitions Law is a transactional-, as opposed to litigation-, oriented M&A book, since M&A lawyers are by definition transactional lawyers. This emphasis is reflected in the following features of the book: Content selected through an M&A lawyer lens; Emphasis on real-world provisions. The book is loaded with actual provisions from various M&A documents so that students see how the covered legal concepts are documented. The provisions also give students a sense for what M&A lawyers do in practice. Teaching through exercises. The book includes numerous exercises, all of which requ...

• List several different methods of business combination. • State the difference between a hostile versus friendly acquisition. • List the two Federal Government agencies responsible for regulating antitrust issues in acquisitions. • Explain why growth alone is not sufficient reason to undertake an acquisition. • List and briefly describe the two methods of accounting for an acquisition. • List several problems that may arise after an acquisition is completed.

TRY has witnessed an amazing series of corporate mergers, acquisitions, and franchise multiplications within the last three years. Some observers feel that this trend has only begun and that future limits will depend upon actions of the Federal Trade Commission (FTC) which is scrutinizing all proposals for possible restraint of trade. In hoteldom, the merger of Hilton International’s 42 overseas hotels with Trans World Airways and of Sheraton Corporation’s 160 hotels into International Telephone and Telegraph shook the industry even more than did the Hilton-Statler combination of 1954, because...

The present doctoral thesis empirically examines financial issues surrounding mergers and acquisitions. My focus is on the change of the cost of capital caused by diversification and on the influence of a takeover's financial structure on the acquiring firm's performance. Starting with all sources of financing, the first part models the decision of how to finance a takeover and shows the corresponding value impacts. The second part investigates the influence of loan characteristics and explains the previously found payment effect with a financing effect. The third part disentangles the coinsur...

This article provides new evidence on the important role of institutional investors in affecting corporate strategy. Institutional cross-ownership between two firms not only increases the probability of them merging, but also affects the outcomes of mergers and acquisitions (M&As). Institutional cross-ownership reduces deal premiums, increases stock payment in M&A transactions, and lowers the completion probabilities of deals with negative acquirer announcement returns. Furthermore, deals with high institutional crossownership have lower transaction costs and disclose more transparent financia...

This book addresses the salient question of how to make mergers and acquisitions work using a five-step approach. It explores insights gained from Prysmian’s acquisitions and other prominent M&A deals, and compares them to existing best practices.

Strategic buyers are competing intensely for acquisitions in both the both the top tier and the middle market, especially in anticipation of European unification in 1992. Businesses now operate in a global economy where national borders mean little to multinationals employing worldwide personnel and financial strategies to suit their strategic objectives.

Strategic buyers are competing intensely for acquisitions in both the both the top tier and the middle market, especially in anticipation of European unification in 1992. Businesses now operate in a global economy where national borders mean little to multinationals employing worldwide personnel and financial strategies to suit their strategic objectives.