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Mergers and Acquisitions as Strategic Decisions

  • Ilaria Galavotti
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Abstract

This chapter provides an overview of mergers and acquisitions as strategic decisions that enable corporate renewal. After identifying their distinctive features vis-à-vis other strategic resource allocation decisions, the sources of value creation are analyzed and the concept of value creation is distinguished across the capital markets school, the strategic school, the organization behavior school, and the process perspective. The chapter further examines the notion of value in mergers and acquisitions by including the concepts of value appropriation and value destruction. The analysis then moves to establishing a linkage between acquisitions and a firm’s corporate strategy. Finally, the chapter covers the role of experience and learning in mergers and acquisitions as a pervasive force driving both decision-making and integration aspects.

Keywords

Strategic School Target Firms Haspeslagh Organizational Behavior Perspective negotiationNegotiation 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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© The Author(s) 2019

Authors and Affiliations

  • Ilaria Galavotti
    • 1
  1. 1.Università Cattolica del Sacro CuorePiacenzaItaly

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