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Mergers And Acquisitions Essays (Examples)

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Merger or Acquisition and on
Words: 2685 Length: 6 Pages Document Type: Term Paper Paper #: 44525270
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The conclusion whereat these researchers have arrived is that there is a negative mathematical relation between the probability of success of an M&a and the target company's leverage. An increasing leverage shows that equity is slowly substituted with debt, which reduces the fraction of voting right controlled by management and therefore affects the bidder's gain. Stultz finds that the probability of success of a takeover bid is decreasing as the debt-to-equity ratio increases.

Harris and aviv (1988) have studied the same phenomenon from a different point-of-view. They have examined the effects of capital structure change, when it is used and an anti-takeover defense. Substituting debt for equity increases the bargaining power of the target companies. These conclusions were also obtained by way of empirical research (aad and yan (1995), Assem and Titman (1999), and Schwert (2000)): the negative relation between the probability of takeover success and the target's leverage is…

Reference:

Angwin, D. (2001), "Mergers and acquisitions across European borders: national perspectives on pre-acquisition due diligence and the use of professional advisers," Journal of World Business, Vol. 36 No. 1, pp. 2-57.

Assem, S., and S. Titman, "Leverage and Corporate Performance: Evidence from Unsuccessful Takeovers," Journal of Finance, 54 (1999), pp. 547-580.

Branch, B., Yang, T."Predicting Successful Takeovers and Risk Arbitrage" Quarterly Journal of Business and Economics. Lincoln: Winter 2003.Vol.42, Iss. 1/2; pg. 3, ProQuest

Buono, a.F. And Bowditch, J.L. (1989), the Human Side of Mergers and Acquisitions, Jossey-Bass, San Francisco, CA.

Merger and Acquisition M& a Activity
Words: 1530 Length: 5 Pages Document Type: Research Paper Paper #: 18746216
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Vedanta believed that the company overall was undervalued; Hewitt was trying to avoid the loss of a major segment of business.

Overall, merger and acquisition activity has been relatively slow in recent years. However, firms are still trying to find ways to defend their position (GM, Hewitt) and other firms are attempting to creatively extract new value through their transactions (Exxon, a-B/InBev, Vedanta). As long as there are shifting environmental considerations and new opportunities to exploit, firms will continue to seek out merger and acquisition activities.

orks Cited:

McClure, B. (2010). Mergers and acquisitions. Investopedia. Retrieved March 14, 2010 from http://www.investopedia.com/university/mergers/default.asp

Espinoza, J. (2009). Merger pays off for AB InBev. Forbes. Retrieved March 14, 2010 from http://www.forbes.com/2009/03/05/inbev-quarter-profits-markets-equity_drinks.html

Daily, M. & Driver, a. (2009). Exxon Mobil to buy XTO Energy in big U.S. gas bet. Reuters. Retrieved March 14, 2010 from http://www.reuters.com/article/idUSTRE5BD28G20091214

Reuters. (2010). Vedanta eyes aluminum unit spinoff. The Economic…

Works Cited:

McClure, B. (2010). Mergers and acquisitions. Investopedia. Retrieved March 14, 2010 from  http://www.investopedia.com/university/mergers/default.asp 

Espinoza, J. (2009). Merger pays off for AB InBev. Forbes. Retrieved March 14, 2010 from  http://www.forbes.com/2009/03/05/inbev-quarter-profits-markets-equity_drinks.html 

Daily, M. & Driver, a. (2009). Exxon Mobil to buy XTO Energy in big U.S. gas bet. Reuters. Retrieved March 14, 2010 from  http://www.reuters.com/article/idUSTRE5BD28G20091214 

Reuters. (2010). Vedanta eyes aluminum unit spinoff. The Economic Times. Retrieved March 14, 2010 from  http://economictimes.indiatimes.com/news/international-business/Vedanta-eyes-aluminium-unit-spin-off-Report/articleshow/5683287.cms

Mergers Managers Rationality
Words: 2382 Length: 6 Pages Document Type: Essay Paper #: 89367991
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Mergers

The hypothesis is that "if managers are rational, mergers should always lead to an increase in shareholder value." In principle, this statement should hold, but there are a couple of pragmatic considerations that must be taken into account. Before examining the nuts and bolts of mergers, the statement needs to be corrected a little bit -- if managers are rational mergers should always lead to an expected increase in shareholder value. ationality does not imply omniscience, so managers can only make decisions based on what they expect will happen, not with perfect knowledge of the future. In other words, if a merger fails to increase shareholder value, that does not imply that the manager failed to act rationally. Now that we understand that, we can investigate the core principles behind the statement.

Agency Theory

The first underlying concept at work in this statement is agency theory. Agency theory lies…

References

Agrawal, A. & Jaffe, J. (1999). The post-merger performance puzzle. Advances in Mergers and Acquisitions. JAI Press, Stamford, CT.

Agrawal, A., Jaffe, J. & Mandelker, G. (1992). The post-merger performance of acquiring firms: A re-examination of an anomaly. The Journal of Finance. Vol. XLVIII (4) 1605-1621.

Arthur, W. (1994). Inductive reasoning and bounded rationality. The American Economic Review. Vol. 84 (2) 406-411.

Eisenhardt, K. (1989). Agency theory: An assessment and review. The Academy of Management Review. Vol. 14 (1) 57-74.

Mergers Acquisitions and International Strategies
Words: 1923 Length: 6 Pages Document Type: Research Paper Paper #: 60902437
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Mergers, Acquisitions, and International Strategies

A well crafted strategy is crucial for business success in the both the local and the international market. Firms achieve this success by using business-level strategies or corporate-level strategies, or both. Business level strategies (such as cost leadership and differentiation) influence a firm's competitive advantage in its products and markets, while corporate-level strategies (such as mergers and acquisitions) affect the firm as a whole (Hill & Jones, 2012). Firms operating in the global market must also choose effective international business-level strategies and international corporate-level strategies. This paper compares an international company, Samsung, with a history of mergers and/or acquisitions, and a US-based company, Hibbert Sports, Inc., which is based solely in the US and does not have a history of any mergers or acquisitions. The paper specifically evaluates Samsung's acquisition strategy as well as its international business-level strategies and international corporate-level strategies. Also, the paper…

References

Frainshmidt, S., Smith, A., & Judge, W. (2016). National competitiveness and Porter's diamond model: the role of MNE penetration and governance quality. Global Strategy Journal, 6(2), 81-104.

Hibbett Sports Inc. (2017). Investor relations. Retrieved from http://phx.corporate- ir.net/phoenix.zhtml?c=78137&p=irol-irhome

Hill, C., & Jones, G. (2012). Essentials of strategic management. 3rd edition. Boston: Cengage Learning.

Johnson, G., Scholes, K., & Whittington, R. (2010). Exploring corporate strategy. London: Prentice Hall.

International Strategies Merger and Acquisition
Words: 2207 Length: 6 Pages Document Type: Term Paper Paper #: 54691739
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Merger, Acquisition, And International Strategies

Google, Inc.:

From a humble beginning in 1998 of responding to about 10,000 queries by offering search engine services, Google, Inc. has grown to a gigantic multinational corporation providing immense and widely used, actually over 30, services with a search engine capacity that responds to more than 200 million queries daily.

Using a combination of personal logging information and other information gathered from its spectrum of services and Google cookies, it is capable of building large dossiers of pertinent information of its individual users. In this essay I wish to examine Google's three most popular and innovative services namely: Ad Sense, Gmail and Google Search in order to show how the huge amount of data gathered from these three services are used to create incredibly big profiles of all its individual users. I will not, however, underestimate the important role its other services like Google…

Bibliography

Bhatia, A., Deep, G., & Sachdeva, A. (2012). Strategic analysis of search engine giant: A case study of googleinc. International Journal of Computing and Business Research. Retrieved from  http://www.researchmanuscripts.com/isociety2012/55.pdf 

Delichatsios, S.A., & Sonuyi, T. (2005). Get to know Google, because they know you. Retrieved from http://groups.csail.mit.edu/mac/classes/6.805/student-papers/fall05-papers/google.pdf

Dess, L.E.(2012). Corporate level strategy. Retrieved from International Strategic Management:  http://brianhenderschiedtbsad428.blogspot.ca/2012/03/walmart-corporate-level-strategy.html 

Digication.(2014). Google's corporate level strategy. Retrieved from  https://stonybrook.digication.com/calvins_google/Corporate_level_strategy

Merger Activity Due in Large
Words: 7696 Length: 27 Pages Document Type: Term Paper Paper #: 57391917
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Finance-dominated proponents also maintain that boom economic periods generate a more varied divergence of valuations that fuel merger activity (Medlen 2007). In this regard, Medlen concludes that, "Taken collectively, these understandings may explain some of the merger activity in booms, but they involve certain asymmetries that undercut their explanatory power. High stock valuations allow stock to be utilized as currency and collateral for takeovers; yet stock booms also make targets expensive" (p. 202). Moreover, despite the commonly held perception that mergers are a "quick and dirty" way to grow a business and achieve organizational goals, there remains a lack of convincing empirical evidence in support of this perception (Medlen 2007). As Medlen points out, an "anomalous fact about mergers concerns the lack of evidence that mergers are profitable. This fact begs the question: why then are mergers carried out with such frequency and with such large levels of capitalization?" (p.…

References

Ahern, K.A. & Weston, J.F. (2007). 'M&as: the Good, the Bad, and the Ugly.' Journal

of Applied Finance, vol. 17, no. 1, pp. 5-7.

Babbie, E. (1990). Survey Research Methods (2nd ed.). Belmont, CA: Wadsworth

Publishing Company.

Merger Wave There Are Many Factors That
Words: 930 Length: 3 Pages Document Type: Term Paper Paper #: 590830
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Merger ave

There are many factors that contribute to today's economic global status. Economic evolution did not happen over night and one can look to history to analyze trends and practices as proof. It is unfair of historians to try to pinpoint one deciding moment in history that influences today's business world. One should see today's market as a reflection of past trends and business practices, a build up of many moments of time full of mistakes and successes. It is fair to say that much of where we are today has much to do with what has been learned already but also what has yet to be learned. It is the notion of possibility that makes the present economy rich and multifaceted. It is the ability to think outside what is already known and break down barriers that makes the future of business very exciting. This type of attitude…

Work Cited

O'Brien, Patrick Anthony. "Factory Size, Economies of Scale, and the Great Merger Wave of

1898-1902." The Journal of Economic History Vol. 48, No. 3 (1988): 639-649.

Merger Along With Acquisition and International Strategies
Words: 2054 Length: 7 Pages Document Type: Term Paper Paper #: 93796357
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Merger, Acquisition, And International Strategies

Ford Corporation: The Volvo takeover

It's imperative for the automotive companies to attain benefits of scale whilst developing latest products which is costing exceedingly high in the present business environment. Compared to the 90's the chances of attaining benefits of scale while saving costs has altered quite a bit. Model volumes have declined which creates difficulties for companies to attain economies of scale, while saving costs. Hence, as a last resort, companies merge with each other, acquire and form alliances with each other to save rising costs while developing new technology and products (Lundback, 2002).

Ford Motor Company

The Ford Motor Company is the second leading profitable automaker in the world. Ford has recently acquired the Swedish-based Volvo for $6.45 billion. Fords profits last year were a bit more than that with $6.57 billion. It's yet another quick acquisition among many others. Ford at present…

Bibliography

AECOM. (2014, July 13). Retrieved October 13, 2014, from  http://www.aecom.com/News/Press+Releases/_carousel/AECOM+to+acquire+URS+Corporation+for+U.S.$56.31+per+share+in+cash+and+stock 

AECOM Capital. (n.d.). Retrieved October 13, 2014, from  http://www.aecom.com/About/AECOM+Capital 

Asongu, J. (2007). Innovation as an Argument for Corporate Social Responsibility. Journal of Business and Public Policy.

Fairholm, M. (2009). Leadership and Organizational Strategy. The Innovation Journal: The Public Sector Innovation Journal, 2-15.

Moral Hazard in Acquisitions
Words: 1568 Length: 5 Pages Document Type: Research Paper Paper #: 74454015
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moral hazard in mergers, acquisitions and takeovers. The essay discusses the definition of moral hazard as well as related agency theory and the role of asymmetrical information in transactions. The essay also reviews insider trading from the perspective of insider trading.

In the context of economic theory, moral hazard describes the tendency of a party to take excessive risks because the costs associated with the unreasonable risk are not incurred by the party taking the risks. That is, when the behavior of one party to a transaction may result in detriment to another party after the transaction has taken place, moral hazard may be said to be present. Moral hazard occurs because an institution or individual does not bear the full responsibility or consequences of its actions, and as a result, there is a tendency to act less carefully than otherwise would be the case; this irresponsible behavior leaves the…

Works Cited

Carlton, Dennis W. And Daniel R. Fischel. "The Regulation of Insider Trading." Stanford Law Review. (1983) 35: 857 -- 895. Web. .

Heakal, Reem. "Defining Illegal Insider Trading." (September 25, 2010) n. pag. Web. .

Kleiman, Robert T. "Agency Theory." (2012): n. pag. Web. .

Stein, Jeremy C. "Takeover Threats and Managerial Myopia." Journal of Political Economy. (1988) 96.1: 61- 80. Web. .

Managing International Acquisitions
Words: 878 Length: 3 Pages Document Type: Term Paper Paper #: 8866144
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Financial Analysis of Mergers and Acquisitions

In the past few years, the amount of mergers and acquisitions have dramatically increased, raising the importance of the strategies and financial analyses performed before the merger or acquisition is expected to occur. Financial, operational, and technical due diligence have become routine undertakings before companies consummate a merger or acquisition. A review of the literature indicates that the strategies employed have a significant impact on whether the merger or acquisition is a success. An example of a very successful strategy that has been implemented several times in the acquisition or merger of companies is the strategy employed by Pfizer. A strategy that did not work out as well is portrayed by Matsushita in its' failed acquisition with MCA. This paper will illustrate and analyze the strategies employed in such transactions in addition to the financial outcomes of the deals.

Pfizer's overall business philosophy has…

Bibliography

Mcgarvey, R. (1997). Due Diligence. Entrepreneur Magazine, October.

Recklies, O. (2003). Vision as Key Factor in Merger Processes. Retrieved July 28, 2005 from  http://www.themanager.org .

Tsao, Amy. (2004). Pfizer's Show of Strength. Business Week, December.

Wood, Mackenzie. (2004). Pharmaceutical Overview. Executives Guide, 15-18.

Ralcorp Holdings Inc 's Proposed an Acquisition of
Words: 1554 Length: 5 Pages Document Type: Essay Paper #: 88208238
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alcorp Holdings, Inc.'s proposed an acquisition of Sara Lee Corp on its stock price. This paper is done with a buy decision for alcorp Holdings stock in mind. The sell recommendation in relation to the content of the news article titled "alcorp Holdings to Purchase Sara Lee's Private Brand efrigerated Dough Business." This is done with the necessary theories of mergers and acquisition in mind as well as with relevant calculations and support documentation. The goal is to determine what the content of the news article means for the investment merits of the stock by evaluating how the event covered in the article have a positive, negative or neutral effect on the stock price. This paper also explains how this affects my investment recommendation.

Introduction

Some time back, alcorp Holdings, Inc. indicated that it had acquired the Sara Lee Corp., a North American private brand refrigerated dough business at close…

References

Andrade, G. Mitchell, M. And Stafford, E. (2001) 'New evidence and perspectives on acquisitions'.Journal of Economic Perspectives, vol. 15, pp. 103-120

Comtex News Network (2012). Shares of RAH Down 15.1% Since Downtrend Call on Shares.

http://funds.usatoday.com/news/story.idms-ID_NEWS=30346688&ID_SUPPLIER_CATEGORY=18614,18686,45864,18689

Feltham, G, and Ohlson, J.A. (1995) 'Valuation and Clean Surplus Accounting for Operating and Financial Activities', Contemporary Accounting Research, vol. 11, pp. 689-731.

Fox Acquisition of Sky
Words: 431 Length: 2 Pages Document Type: Essay Paper #: 22871054
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21st Century Fox's Takeover Of Sky

21st Century Fox has been planning to acquire or takeover of Sky, which has dominated news reports in the recent past. While the plan for the deal has been ongoing for sometime, it has faced several challenges that have caused delays. The delays in the conclusion of the deal have particularly been centered on sexual and racial harassment allegations surrounding Fox News. The acquisition of Sky by 21st Century Fox has looked more vulnerable in the aftermath of the General Election because of investigations into these allegations by Ofcom (Turvill, 2017). Ofcom has been investigating whether 21st Century Fox would be deemed as a fit and proper owner test in light of the claims of racial and sexual harassment. The investigations would also look into whether the takeover would hurt the media plurality in the United Kingdom, which is considered as an important component…

Cisco Began Its Acquisition Spree in 1993
Words: 1478 Length: 5 Pages Document Type: Essay Paper #: 15332436
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Cisco began its acquisition spree in 1993 with the purchase of Crescendo Communications Inc. (Cisco, 1993). The purpose of this acquisition was to acquire a product that Cisco's customers wanted, but that Cisco did not at the time provide. Over the rest of the 1990s, Cisco focused on that type of expansion, totaling 71 acquisitions and a massive growth in the size of the company both in terms of revenue and employees (Ibid).

The company was driven to make these acquisitions because it wanted to serve its major customers better. Cisco was selling to firms like Ford and Boeing, and it was under pressure to add new products to its lineup in order to meet their needs. Acquiring companies that already had those products was seen by Cisco management as the quickest way to meet this market need to hold competitors at bay. The initial acquisitions were made in this…

Works Cited:

Cartwright, S. & Cooper, C. (1993). The role of culture compatibility in successful organizational marriage. Academy of Management Executive. Vol. 7 (2) 57-70.

Cisco (1993). Cisco Systems Corporate Timeline. Cisco Systems press release. Retrieved December 14, 2008 from  http://newsroom.cisco.com/dlls/timeline/1993_index.shtml 

Singh, H. & Chaudhuri, S. (2008). Cisco's acquisition strategy (1993 to 2000): Value growth through buying early-stage companies. Wharton School, University of Pennsylvania. In possession of the author.

Weber, Y., Shenkar, O. & Raveh, A. (1996). National and corporate cultural fit in mergers/acquisitions: An exploratory study. Management Science. Vol. 42 (8) 1215-1227.

Cquay Technologies Corp Mergers and
Words: 597 Length: 2 Pages Document Type: Term Paper Paper #: 79215161
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Thus, the company did not manage to the fullest extent to capitalize on achieved competitive advantages and did not manage to cover all the risks

Before the merger, the HP managers expected their market growth rate between the years of 2002 to 2004 to annual increase by 12%, for the PCs business segment to grow by 8% annually, for services segment by 12% and to increase imaging and printing segment by 10% annually. The company projected the highest profit margin growth in the servicing sector as this was Compaq competitive advantage before the merger. After 3 years of the merger, the actual earned revenues were not equal to the predicted ones in any sector: the enterprise revenues fell by 20% in 2002 compared with their 2001 rates, and by 5% from 2003 to 2002; the same happened with PCs segment, while services segment also decreased considerably by 11% in revenues…

Nguyen, H., Kleiner, B. The Effective Management of Mergers, Leadership & Organization Development Journal, Volume 24 (8), 2003, pp. 447-454.

Jackson, J. HP-Compaq Merger Could Aid Resellers, available at  http://www.washingtontechnology.com/news/16_13/business/17177-1.html 

CQUAY Technologies Corp

Aquisition Proposal Acquisition Analysis Financial
Words: 2127 Length: 8 Pages Document Type: Research Proposal Paper #: 51597405
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Fastpack has an impressive, solid position on the uritanian courier market. The company does not necessarily need to be acquired by TNT. In my opinion, Fastpack would have more to gain if it were not acquired by TNT. Fastpack has a market share base on the international market that the company can further exploit and expand, leading to overall growth for the company, both locally and internationally.

TNT however, needs to acquire Fastpack. As mentioned above, it is quite difficult for foreign companies to enter the uritanian courier market. The best way of succeeding would be to acquire a well-known local company. Therefore, it might be a better solution for both companies, and especially for Fastpack, to decide upon a merger between the two companies rather than on an acquisition of Fastpack by TNT.

Initial Valuation of the Company Acquired by TNT

Objective: the purpose of the acquisition of Fastpack…

Reference List

Summary Balance Sheets (2008). Retrieved January 22, 2009.

Executive Summary (2008). Retrieved January 23, 2009.

Platt, Gordon (2004). Cross-Border Mergers Show Rising Trend as Global Economy Expands. Global Finance. Retrieved January 23, 2009 at  http://findarticles.com/p/articles/mi_qa3715/is_200412/ai_n9466795 .

Finkelstein, Sydney (2008). Cross Border Mergers and Acquisitions. Dartmouth College. Retrieved January 23, 2009 at  http://mba.tuck.dartmouth.edu/pages/faculty/syd.finkelstein/articles/Cross_Border.pdf .

Sprint Nextel Merger History of
Words: 4904 Length: 18 Pages Document Type: Term Paper Paper #: 30902784
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The transaction was all-cash and was estimated at approximately $4.3 billion, including the assumption of approximately $900 million of net debt. Before acquiring Alamosa, Sprint Nextel Corporation was involved in some litigation issue with one of Alamosa Holdings' subsidiaries, AirGate PCS Inc. Therefore, completing the Alamosa acquisition brought final resolution in this matter. Alamosa was one of Sprint's most important affiliates before the merger with Nextel and the acquisition of this wireless affiliate. Texas based Alamosa Holdings provides Sprint PCS services in 19 states across the United States, and it has about 1.5 million direct wireless subscribers. The affiliate has approximately 1,300 employees. In 2005, Alamosa Holdings' revenues reached $1.32 billion. The most important outcome of acquiring Alamosa Holdings was the fact that the acquisition extended Sprint Nextel Corporation's direct service territory to an additional 20 million people in 19 states.

Another wireless affiliate that was acquired by Sprint Nextel…

Reference List

The Sprint Tradition (2007). Sprint Nextel. Retrieved June 12, 2007 at  http://www.sprint.com/companyinfo/history/ .

Sprint Corporation 1899-2005 (2007). Wikipedia, the free encyclopedia. Retrieved June 12, 2007 at  http://en.wikipedia.org/wiki/Sprint_Corporation_%%29 .

Nextel Communications (2007). Wikipedia, the free encyclopedia. Retrieved June 12, 2007 at  http://en.wikipedia.org/wiki/NEXTEL_Communications_%%29 .

Sprint Nextel (2007). Wikipedia, the free encyclopedia. Retrieved June 13, 2007 at  http://en.wikipedia.org/wiki/Sprint_Nextel#Merger_of_Sprint_and_NEXTEL .

Failure of Mergers
Words: 2225 Length: 8 Pages Document Type: Essay Paper #: 23409073
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Failures of Merger

Failure of Mergers

The objective of this study is to examine why it is that most mergers fail and will provide real-life examples of the failure of mergers. Toward this end, this work will examine relevant literature in this area of study and specifically academic and professional literature and publications that are peer-reviewed in nature. The work of Weber and Camerer (2003 ) entitled "Cultural Conflict and Merger Failure: An Experimental Approach" reports that most mergers fail and that failure occur "on average in every sense: acquiring firm stock prices tend to slightly fail when mergers are announced; many acquired companies are later sold off; and profitability of the acquired firm is lower after the merger." (Weber and Camerer, 2003) There is a great deal of conflict reported during the process of a merger that results in a high rate of turnover." Disappointment was expressed by participants…

References

Chiriac, Irina Sandu case (2011) Mergers -- Success or Failure? CES Working Papers, III [1] 2001. Retrieved from:  http://www.cse.uaic.ro/WorkingPapers/articles/CESWP2011_III1_SAN.pdf 

Cross-Border Mergers & Acquisitions: Reducing the Risk of Failure (nd) Communicaid,. Retrieved from: http://www.communicaid.com/access/pdf/library/culture/Cross-Border%20Mergers%20&%20Acquisitions_Reducing%20the%20Risk%20of%20Failure.pdf

Dumon, Marv (2008) Biggest Merger and Acquisition Disasters. Investopedia. Retrieved from:  http://www.investopedia.com/articles/financial-theory/08/merger-acquisition-disasters.asp 

Elwin, Toby (2010) Mergers and Acquisitions Failures are Project Management Failures. 30 November, 2010. Retrieved from:  http://www.amajorc.com/blog/mergers-and-acquisitions-failures-are-project-management-failures

Intrastrate Acquisition of People's Natural
Words: 2288 Length: 8 Pages Document Type: Research Proposal Paper #: 52966006
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" (Schlossberg, 2004)

FERC analyzed while making a review of the electric utility mergers proposition, the transaction being proposed "likely effect" on (1) competition;

(2) rates; and (3) regulation. (Schlossberg, 2004)

There are stated to be "no antitrust exemptions for transactions subject to FERC review and such mergers are regularly reviewed by either the Federal Trade Commission (FTC) or the Division." (Schlossberg, 2004) The Securities and Exchange Commission had previously held jurisdiction for reviewing acquisitions of stock of electric utility companies however, the authority provided under the Public Utilities Holding Company Act of 1935 was repealed in 2005.

III. FORESEEAILITY DOCTRINE REHAILITATION

The work of Trujillo (2006) entitled: "State Action Antitrust Exemption Collides with Deregulation: Rehabilitating the Foreeseability Doctrine" states that a capitalist society that has policies which were established for the purpose of regulating "the promotion of competition in traditionally regulated industries such as the electrical market seems counterintuitive.…

BIBLIOGRAPHY

Ewing, Saul (2007) FTC Complaint May Seek to Erode 'State Action' Immunity of Utilities. Staying Ahead Bulletin April 2007. Utility Law. Online available at:  http://www.saul.com/common/publications/pdf_1285.pdf 

Schlossberg, Robert S. (2004) Mergers and Acquisitions: Understanding the Antitrust Issues. American Bar Association 2004. Google, Books Online available at:  http://books.google.com/books?id=JmcoRxfB1OsC 

Trujillo, Elizabeth (2006) State Action Antitrust Exemption Collides with Deregulation: Rehabilitating the foreseeability Doctrine. Fordham Journal of Corporate & Financial Law. Online available at:  http://findarticles.com/p/articles/mi_qa4048/is_200601/ai_n16410098/

Effects of Company Mergers on Employees
Words: 554 Length: 2 Pages Document Type: Term Paper Paper #: 55258436
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Company Mergers on Employees

The end of the twentieth century saw a wave of domestic and cross-border corporate mergers and acquisitions. Worldwide M&As grew at an average of 42% per annum between 1980 and 1999, reaching U.S.$2.3 trillion in 1999, according to the United Nations World Investment eport 2000. The report also suggested that the merger trend was evidence of an emerging globalized market (Cheng). While the globalization of markets is one important driving factor behind cross-border mergers since this allows for easier access to new markets through acquisition of strong local players, there are several other reasons why companies may choose to merge. Objectives range from the need to reduce competition, lower cost of production, eliminate excess capacity, increase market share through the acquisition of strong, established brands to the desire to acquire new technology and realize economies of scale in production, distribution, and purchase. Further, weak financial positions…

References

Cheng, E. What's driving the wave of corporate mergers. Green Left Online Edition.

Retrieved from the World Wide Web:  http://www.greenleft.org.au/back/2001/438/438p16.htm 

Gharib, S. (Feb. 24, 2004). Commentary: The Merger Mania Failure Factor. Quote.com.

Retrieved Mar. 2, 2004 from the World Wide Web:  http://finance.lycos.com/qc/news/story.aspx?story=200402250300_NBR_NBR-20040224-STORY4&symbols=NBR:100

Rail Acquisition Why Does Csx Want to
Words: 779 Length: 2 Pages Document Type: Essay Paper #: 81852734
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Rail Acquisition

Why does CSX want to buy Conrail? How much should CSX be willing to pay for it?

CSX wants to buy Conrail to acquire a larger portion of the Northeastern available rail lines as well as to increase its efficiency. CSX should be willing to pay slightly above the blended value, so about $90 per share.

Why did CSX make a two-tiered offer? What effect does this structure have on the transaction?

Two-tiered offers are common in such situations. They comprise of a first step in which an offer is made to purchase enough of the stockholders' shares. The second phase is the offering of other shares at a lower price. This strategy has the advantages of reducing both cheaper and less risky (in terms of losing out on the purchase).

As a shareholder in Conrail, would you tender your share to CSX at $92.50 in the first…

Mobile Sprint Merger Within the More
Words: 1380 Length: 5 Pages Document Type: Essay Paper #: 53667225
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Mobile / Sprint Merger

Within the more and more dynamic and challenging economic, social and technological context, the economic agents devise a wide array of coping mechanisms. One common means in which they strive to consolidate their competitive positions is through mergers and acquisitions. These imply the unification of two traditional competitors in a means in which mutual benefits are created, such as wider access to the market, know how, expertise, resources and so on.

Today, a piece of news which torments the American business community is related to the potential merger between mobile telephone monoliths T-Mobile and Sprint. It is the opinion of this study that the merger would be of a positive impact for the two firms. The following lines reveal the rationale for this conclusion.

The financial state of the companies

Data is not available for the entire 2010 fiscal year, but the information which is available…

References:

2010, Sprint Nextel (NYSE:S) and T-Mobile merger rumors return after comments from Sprint CEO, American Banking & Marketing News,  http://www.americanbankingnews.com/2010/07/15/sprint-nextel-nyse-s-and-t-mobile-merger-rumors-return-after-comments-from-sprint-ceo  / last accessed on February 24, 2011

2011, Sprint Nextel Corp, Bloomberg Businessweek,  http://investing.businessweek.com/research/stocks/financials/financials.asp?ticker=S:U.S . last accessed on February 24, 2011

2011, T-Mobile USA reports third quarter 2010 results, T-Mobile website,  http://www.t-mobile.com/Cms/Files/Published/0000BDF20016F5DD010312E2BDE4AE9B/5657114502E70FF3012B59F6EC3E60E2/file/TMUSQ32010PressReleaseFinal%5B1%5D.pdf  last accessed on February 24, 2011

2011, T-Mobile closing its doors in 2011? Not so fast! Tmo News,  http://www.tmonews.com/2010/07/t-mobile-closing-its-doors-in-2011-not-so-fast  / last accessed on February 24, 2011

Innovation Through Acquisitions Motorola's Strategies
Words: 339 Length: 1 Pages Document Type: Thesis Paper #: 3457620
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This acquisition gave Motorola the necessary services to expand their commercial divisions and also sell more effectively into enterprise-wide accounts. The use of mergers and acquisitions at Motorola for gaining differentiation and therefore delivering innovative solutions, freeing themselves from being a purely product-driven company illustrates how this strategy can be effectively used.

References

Abetti, Pier a (1994). Impact of technology on functional roles and strategies: Illustrative cases in the U.S.A., Japan, and France, and lessons learned. International Journal of Technology Management, 9(5,6,7), 529.

Retrieved September 10, 2008, from ABI/INFORM Global database. (Document ID: 879027).

ara ee (2008, February). Innovation at Risk. Business Week (Online),1. Retrieved September 13, 2008, from ABI/INFORM Trade & Industry database. (Document ID: 1428625341).

David Probert, Michael Radnor. (2003). Technology roadmapping: Frontier experiences from industry-academia consortia. Research Technology Management, 46(2), 26-30. Retrieved September 11, 2008, from ABI/INFORM Global database. (Document ID: 305041271).

Weekly Corporate Growth (2006). Motorola…

Lara Lee (2008, February). Innovation at Risk. Business Week (Online),1. Retrieved September 13, 2008, from ABI/INFORM Trade & Industry database. (Document ID: 1428625341).

David Probert, Michael Radnor. (2003). Technology roadmapping: Frontier experiences from industry-academia consortia. Research Technology Management, 46(2), 26-30. Retrieved September 11, 2008, from ABI/INFORM Global database. (Document ID: 305041271).

Weekly Corporate Growth (2006). Motorola to Acquire Netopia Inc. For 1.97 Times Revenue. (2006, November). Weekly Corporate Growth Report,(1416), 3. Retrieved September 11, 2008, from ABI/INFORM Global database. (Document ID: 1178968731).

Corporate Merger Between Delta and Northwest Airlines
Words: 4722 Length: 15 Pages Document Type: Case Study Paper #: 5539022
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corporate merger between Delta and Northwest airlines in order to find out the possible reasons why it was necessary. We evaluate the merits associated with corporate mergers and the challenges that might be faced in the process. A recommendation on how mergers should be carried out is also provided

Mergers and acquisitions form a very integral part of the contemporary corporate landscape. Kolker (2010) points out that initial six months of the year 2010 witnessed the total value of global acquisitions increase to 2.7% to a monetary value of $915 billion. This was an increase for the initial six months of 2009. 2010 however was off to a rather slow start as compared to 2006 which recorded an excess of $3.8 trillion in transactions related to acquisitions (Yeary, 2007). It is worth noting that it is never the volume of the deals that matter but their size. Averagely, there were…

References

Appelbaum, S., Lefrancois, F., Tonna, R. And Shapiro, B. (2007). Mergers 101 (part one):

Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17, 99-120.

Bijlsma-Frankema, K. (2001). On managing cultural integration and cultural processes in mergers and acquisitions, Journal of European Industrial Training, 25/2/3/4, 192-207

Brigham, EF & Houston, JF (2009).Fundamentals of Financial Management

Challenge of Managing All Stakeholders in the Context of a Merger Process
Words: 23212 Length: 80 Pages Document Type: Term Paper Paper #: 46964051
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Managing All Stakeholders in the Context of a Merger Process

Review of the Relevant Literature

Types of Mergers

Identifying All Stakeholders in a Given usiness

Strategic Market Factors Driving Merger Activity

Selection Process for Merger Candidates

Summary, Conclusion, and Recommendations

The Challenge of Managing All Stakeholders in the Context of a Merger Process

Mergers and acquisitions became central features of organizational life in the last part of the 20th century, particularly as organizations seek to establish and maintain competitiveness in an increasingly globalized economy (Nevaer & Deck, 1996). Mergers are generally described as being the formal joining or combining of two corporations or business (Prichett, 1987), although both the framework and the method of merger vary greatly. The reasons for mergers are different based on what a company is trying to accomplish. The acquiring firm may seek to eliminate a competitor; to increase its efficiency; to diversify its products, services,…

Bibliography

Ansoff, H. Igor. 1987. The Emerging Paradigm of Strategic Behavior. Strategic Management Journal, 8, 501-515.

Barney, Jay B. 1986. Strategic factor markets: expectations, luck, and business strategy. Management Science, 32, 10, 1231- 41.

Beinhocker, E.D. & Kaplan, S. 2002. Tired of Strategic Planning? Many Companies Get Little Value from Their Annual Strategic-Planning Process. It Should Be Redesigned to Support Real-Time Strategy Making and to Encourage 'Creative Accidents.' The McKinsey Quarterly, 49.

Black's Law Dictionary. 1990. St. Paul: West Publishing Co.

Globalization and Technological Influences on International Mergers
Words: 1148 Length: 4 Pages Document Type: Research Paper Paper #: 34345084
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Globalization and Technological Influences

On International Mergers: DaimlerChrysler as a Case Study

One of the most interesting international manufacturing mergers of the 20th century was the 1998 negotiation between the Daimler auto company headquartered in Germany and the struggling Chrysler corporation, headquartered in the U.S. Daimler's buyout of Chrysler resulted in a merger that ultimately failed to benefit either party, and may have seriously damaged both organizations' capacity for future growth. Below, I will discuss how the merger proceeded -- as it was covered in U.S. And international business media -- and how the negotiations for the merger and the 2007 spinoff of Chrysler were facilitated by technological developments and global business practices. I will also discuss motivations for international mergers in general and how they applied specifically in the case of the DaimlerChrysler merger.

As a horizontal merger, DaimlerChrysler followed a popular movement towards consolidation in the international auto…

References

Qiu, L., & Zhou, W. (2003). International Mergers: Incentive and Welfare. Journal of International Economics, 68(1): 38-58.

Landler, M., & Maynard, M. (2007). "DaimlerChrysler stock gets a lift from talk of Chrysler spinoff." International Herald Tribune, Tuesday February 20, 2007.

Finkelstein, S. (2001). The DaimlerChrysler Merger. Tuck School of Business White Paper # 1-0071.

Vlasic, B., & Stertz, B. (2001). Taken for a Ride: How Daimler-Benz Drove Off with Chrysler. New York: Harper Perennial.

Success Prospects of JC Penney's Acquisition Venture
Words: 950 Length: 3 Pages Document Type: Capstone Project Paper #: 38416860
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Executive eport on Financing the Acquisition

Financing of an acquisition is one of the challenging aspects when it comes to a company with some few assets unlike the one to be acquired. Paying in cash would not be a viable option putting into consideration the lack of capital involving JC Penney. Its market valuation is only one-third of the value of Kohl, which stands at $6.9 billion. Therefore, the use of shares is inappropriate because enough capital to pay for the acquisition cannot be obtained. Financing the acquisition requires significant cooperation between all the partners in the deal because JC Penney does not have the resources needed to complete the acquisition immediately. Some risks are also involved as all the equity belonging to JC Penney will have to go into the deal. In this case, the cash flow belonging to JC Penney would be used as the collateral in the…

References

Bates, T. W., Neyland, J. B., & Wang, Y. (2016). Financing Acquisitions with Earnouts.

Elsas, R., Flannery, M. J., & Garfinkel, J. A. (2014). Financing major investments: information about capital structure decisions. Review of Finance, 18(4), 1341-1386.

Fischer, M. (2017). The source of financing for mergers and acquisitions. The Quarterly Review of Economics and Finance.

Organizational Diagnosis Surrounding the Acquisition
Words: 1468 Length: 5 Pages Document Type: Capstone Project Paper #: 85465086
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The advantage on the other hand is of the retrieval of relevant and solid findings based on which the adequate strategies can be implemented.

4. The congruence model

According to the Mind Tools website, the "congruence model is based on the principle that an organization's performance is derived from four elements: tasks, people, structure, and culture. The higher the congruence, or compatibility, amongst these elements, the greater the performance" (Mind Tools, 2010). The advantage of the model is that of simplifying the issues promoted by the previous models and revealing an analysis structure constructed onto four elements alone. This implies lower task complexities and leads to more efficiently retrieved results. However, it could also lead to sometimes irrelevant findings as it does not take into consideration elements outside the organization, such as the socio-economic climate. In other words, this model is highly applicable when conducting an internal audit, but its…

References:

Burton, R.M., Obel, B., 2004, Strategic organizational diagnosis and design: the dynamics of fit, 3rd edition, Springer, ISBN 1402076843

Patel, N., 2010, HP and Palm: what happens next, Engadget,  http://www.engadget.com/2010/04/29/hp-and-palm-what-happens-next  / last accessed on July 29, 2010

A causal model of organizational performance and change (Burke & Litwin model), Reflect and Learn,  http://www.reflectlearn.org/discover/a-causal-model-of-organizational-performance-change-burkes-litwin-model  last accessed on July 29, 2010

Organizational diagnosis, The College of St. Scholastica,  http://www.google.com/url?sa=t&source=web&cd=1&ved=0CBIQFjAA&url=http%3A%2F%2Ffaculty.css.edu%2Fdswenson%2Fweb%2FPowerpoints%2FOrganizationalDiagnosis.ppt&ei=uYdRTKSkMYqUOMy-4cME&usg=AFQjCNGTL9ElrN8D8QlJeGZvTwHnunMKeA  last accessed on July 29, 2010

Differnet Acquisition Ideas Apple
Words: 1096 Length: 4 Pages Document Type: Term Paper Paper #: 73527123
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Apple Inc.

An Analysis of Apple's Operations and Acquisition Potential

Apple is one of the world's premier manufactures of a product mix consisting of electronics goods, and related software applications, in a broad range of different industry segments. The organization is known for producing first-class products that are uniquely designed within a quality niche and this strategy has garnered a loyal customer base over the years of the company's development. The company also provides services, such as software and software updates, that are regularly applied to existing products, and Apple also offers a range of service programs that are focused on the physical maintenance and service of the products that it sells as well. The company has a global supply chain that spans the globe and markets its products in a number of different international markets.

Apple's current mission statement is "Apple designs Macs, the best personal computers in the…

Works Cited

Anthony, S. (2016, March 22). Apple in "advanced talks" to acquire Imagination Technologies for PowerVR GPU. Retrieved from Ars Technica: http://arstechnica.com/apple/2016/03/apple-acquire-imagination-powervr-gpu/

Investopedia. (2015, April 23). What is Apple's current mission statement and how does it differ from Steve Job's original ideals? Retrieved from Investopedia:  http://www.investopedia.com/ask/answers/042315/what-apples-current-mission-statement-and-how-does-it-differ-steve-jobs-original-ideals.asp 

Meyer, P. (2015, September 4). Apple's Generic Strategy & Intensive Growth Strategies. Retrieved from Panmore Institute:  http://panmore.com/apple-inc-generic-strategy-intensive-growth-strategies 

Moore, M. (2010, February 27). Apple admits using child labour. Retrieved from The Telegraph:  http://www.telegraph.co.uk/technology/apple/7330986/Apple-admits-using-child-labour.html

Changes That Occur as a Result of a Merger
Words: 1607 Length: 5 Pages Document Type: Term Paper Paper #: 64026178
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Change esistance

Human beings are by nature change-resistant and particularly within an organizational context there is anxiety about change, given fears of job losses or simply being unable to adapt. It is essential to convince change agents of the need and urgency for change and also of the congruency of the change with the evolving vision for the company.

Vision statement

A "vision statement should have four elements: a customer orientation, employee focus, organizational competencies, and standards of excellence" ("Changing the game," 2015:3). The change should be demonstrated to enhance all of the organization's capacities, not simply improve its bottom line in the short-term. Having an effective vision statement is necessary for effective change. The Lewin Model of organizational change stresses the need for a three-part adaptation process called unfreezing, changing, and refreezing. In other words, the organization must be temporarily destabilized or unfrozen before it returns to a new…

References

DiMaggio, M. (2009). The top 10 best (and worst) corporate mergers of all time... or, the good, the bad, and the ugly. Rasmussen. Retrieved from:

 http://www.rasmussen.edu/degrees/business/blog/best-and-worst-corporate-mergers/ 

McClure, B. (2015). Mergers and acquisitions: Why they can fail. Investopedia. Retrieved from:

 http://www.investopedia.com/university/mergers/mergers5.asp

Merger Acquisition and International Strategies
Words: 1876 Length: 6 Pages Document Type: Term Paper Paper #: 26737515
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International Strategies

Whole Foods Market (WFM) is a grocery store chain that has operations in the U.S., Canada and the UK. Competitor The Fresh Market (TFM) is based only in the United States at this point. While Whole Foods is substantially bigger, these two companies are close competitors of one another based on the similarity of their product lines and their target markets. This paper will analyze the strategic tactics of each of these companies, based on their respective growth strategies.

The Merger & Evaluation

By 2007, Whole Foods was becoming the dominant player in the natural foods grocery business. It sought to grow further, and decided to purchase struggling competitor Wild Oats (Fineman, 2007). At the time, Whole Foods paid $18.50 in cash for each share of Wild Oats. There was concern from the Federal Trade Commission about the deal, because it put Whole Foods in a dominant position…

References

Bartz, D. (2009). Whole Foods, FTC settle on Wild Oats merger. Reuters. Retrieved November 30, 2013 from  http://www.reuters.com/article/2009/03/06/us-wholefoods-ftc-idUSTRE5253AL20090306 

Fineman, J. (2007). Whole Foods agrees to buy Wild Oats; profit declines. Bloomberg. Retrieved November 30, 2013 from  http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aZtDQutxeDsU 

MSN Moneycentral. (2013). Whole Foods. Retrieved November 30, 2013 from  http://investing.money.msn.com/investments/stock-price?symbol=WFM&ocid=qbes 

MSN Moneycentral. (2013). The Fresh Market. Retrieved November 30, 2013 from  http://investing.money.msn.com/investments/stock-price?symbol=TFM&ocid=qbes

Merger of Time With Warner Is Economically
Words: 723 Length: 2 Pages Document Type: Essay Paper #: 1851423
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merger of Time with warner is economically very attractive this is contributed by high value enhancement opportunities. This value enhancement opportunity reveals clearly the existence of a merger between Time with Warner. Motives present included:

How attractive is the merger of Time with Warner? What are the value enhancement opportunities?

Existence of horizontal merger. This existence leads to economies of scale.it represents combination of two firms in the same line of business (Allen, 2008, p.68).Time and warner are in the same line of business hence this can be considered as horizontal. The prime advantage of this is that there is sharing of central services such as office management and accounting, financial control, executive development and top level management consolidating operations hence elimination of redundant costs.

Vertical merger .this involves companies at different stages of production. Vertical mergers seek economies of scale in vertical integration this is gained by spreading fixed…

REFERENCE

Allen, (2008) corporate finance, p.68.

Dingman Michael, (2011) paramount vs. Time, p.360.

Motives Behind Mergers Acquisitions and Downsizing
Words: 937 Length: 3 Pages Document Type: Essay Paper #: 16048781
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Mergers, Acquisitions and Downsizing

How does the role of a company's motivation determine the selection of a business initiative of a merger, acquisition or a downsizing? Your answer should summarize the role of the economies of scale and be adapted to include a corporate example (current or past employer should be utilized).

The current employer that will be examined is how various services are delivered to the public from local government officials. During this process, there was a focus on downsizing various departments and merging others together. This is illustrating how administrators are concentrating on reducing costs and increasing the quality of services being provided. In most cases, this means that many programs are reorganized and the role of government (as a part of process) is brought into question. As the traditions of providing various services and expanding the number of programs, has not effectively addressed the underlying challenges impacting…

References

Aaker, D. (2001). Developing Business Strategies. New York, NY: John Wiley & Sons.

DiNapolli, D. (2009). Shared Services in Local Government. New York State Comptroller.

Peed, J. (2007). North Carolina LEA Services. Department of Public Instruction.

Stanley, S. (1992). Bigger is Not Better. Policy Analysis.

Business Regulation of Mergers and Implications of
Words: 1160 Length: 4 Pages Document Type: Essay Paper #: 92672441
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Business

Regulation of Mergers and Implications of Government Intervention - the Case of a Potential Merger for Blockbuster

When a large firm in a mature industry wants to grow a common strategy will be the seeking of an acquisition or merger. However, large firms in an industry will often be faced with government regulation which may seek to control and limit the way merger activity takes place. For example, if Blockbuster, a major film rental company, wishes to merge with another firm they may face barriers, while these barriers may be seen as good for competitive environment, they may be perceived by Blockbuster as limiting their commercial actions.

It may be argued that government regulation of needed in the markets for a number of reasons. The first may be the role of the government in protecting the market system to ensure that competition remains in a market. Where one firm…

Hybrid Golf and Birdie Golfer Merger
Words: 891 Length: 3 Pages Document Type: Essay Paper #: 19881968
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The Birdie Golf – Hybrid Golf Merger

Hybrid Golf and Birdie Golf are two companies that have been engaging in talks of merging their company in the past 6 months or so. It is imperative to note that both of these companies are in good position on their own and have niche markets. Moreover, the contemplations of proceeding with the merger is encouraged owing to the fact that it is deemed a beneficial transaction for both of them if the merger actually takes place. In addition, both Birdie and Hybrid will enjoy economies of scale that come along with the transaction. At the present moment, the price at the table is $68.75 for every share of Hybrid’s stock. The purpose of this paper is to conduct a comprehensive analysis regarding the expected value of Hybrid so as to determine whether the price given ought to be accepted by Birdie or…

Texas Instruments and Mattel Questions
Words: 3561 Length: 9 Pages Document Type: Chapter Paper #: 52003966
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Mergers & Acquisitions

One of the more fascinating and complex part of corporate news and maneuvering is when companies engage in mergers and acquisitions as a means to further their growth, development and diversification. This report shall look at two companies in particular, those being Mattel and Texas Instruments. After conducting a thorough literature review, questions about both firms will be posed and answered. While there is more than one way to launch a takeover or acquisition bid for a firm, there are some ways and methods that are better than others.

Mattel Case Study

Now that the literature relative to mergers and acquisitions has been properly sampled and queried, it should now be ascertained what the answers are to the questions described in the introduction, with Mattel being the first firm addressed. Mattel has proven themselves to be concerned with branching out and modernizing their product mix and feel…

References

Alexandridis, G., Petmezas, D., & Travlos, N. (2010). Gains from Mergers and Acquisitions Around the World: New Evidence. Financial Management, 39(4), 1671-1695.  http://dx.doi.org/10.1111/j.1755-053x.2010.01126.x 

Bhagwat, V., Dam, R., & Harford, J. (2016). The Real Effects of Uncertainty on Merger Activity. Review Of Financial Studies, 29(11), 3000-3034.  http://dx.doi.org/10.1093/rfs/hhw061 

Brealey, R., Cooper, I., & Kaplanis, E. (2009). Excess Comovement in International Equity Markets: Evidence from Cross-border Mergers. Review Of Financial Studies, 23(4), 1718-1740.  http://dx.doi.org/10.1093/rfs/hhp104 

Bris, A., & Cabolis, C. (2008). The Value of Investor Protection: Firm Evidence from Cross-Border Mergers. Review Of Financial Studies, 21(2), 605-648.  http://dx.doi.org/10.1093/rfs/hhm089