Mergers and Acquisitions: A Guide to Creating Value for Stakeholders

Hardcover | March 15, 2001

byMichael A. Hitt, Jeffrey S. Harrison, R. Duane Ireland

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In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This MandA action was merely the latest in agrowing trend of "blockbuster" mergers over the past several years. Once a phenomenon seen primarily in the United States, mergers and acquisitions are increasingly being pursued across national boundaries. In short, acquisition strategies are among the most important corporate-level strategies inthe new millennium. The need for clear, complete, and up-to-date guide to successful mergers and acquisitions had never been greater. This book more than fills that need. Looking at successful--and unsuccessful--mergers and acquisitions in a number of different industries, Mergers and Acquisitions: A Guide to Creating Value explains how to conduct an acquisition and how to avoid pitfalls that have doomed many such ventures.The authors take the reader step-by-step through the process, starting with the elements of a successful merger, due diligence to ensure that the target firm is sound and fits well with the acquiring firm, and how mergers and acquisitions are financed. They move on to explore how firms findpartners/targets for acquisitions that have complementary resources and how to find partners with which integration and synergy can be achieved. Finally, they discuss the potential hazards found in MandA's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensurethat ethical principles aren't breached during the process. Based on 15 years of research, this essential guide goes beyond specific case studies to cover all aspects of these ventures, making it required reading for all managers seeking to build a successful strategy.

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From the Publisher

In 1999, MCI WorldComm and Sprint agreed to merge. Valued at $129 billion, this expected transaction was the largest in history. However, it fell victim to regulators in Europe concerned with the potential monopoly power of the merged firm. This MandA action was merely the latest in agrowing trend of "blockbuster" mergers over the pa...

Michael A. Hitt holds the Weatherup/Overby Chair of Executive Leadership at Arizona State University. He is co-author, with Richard E. Hoskisson, of Downscoping: How to Tame the Diversified Firm (OUP 1994). Jeffrey S. Harrison is Professor of Management in the College of Business Administration at the University of Central Florida. ...
Format:HardcoverDimensions:240 pages, 9.02 × 6.1 × 0.98 inPublished:March 15, 2001Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0195112857

ISBN - 13:9780195112856

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"A nice book that combines practical advice and academic rigor to a survey of creating value through MandA."--Sidney Finkelstein, Professor of Strategy and Leadership, Dartmouth University