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Implications for practitioners

Abstract

Most mergers and acquisitions fail. While most mergers and acquisitions are initiated with the objective to create value through synergy generation, these objectives are often missed (e.g. Kitching, 1974; Porter, 1987; Bühner, 1990a, b; Agrawal, Jaffe, & Mandelker, 1993). Failure of mergers and acquisitions can have different reasons:
  • • There is no synergy potential

  • • The structural decisions are not suited to capture the synergy potential

  • • The deal was too expensive, i.e. the premium paid exceeds the synergy potential

  • • The synergy potential has not been realized

(Sirower, 1997: 44ff.)

Keywords

Integration Measure Structural Decision Synergy Effect Sales Force Synergy Potential 
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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Copyright information

© Deutscher Universitäts-Verlag | GWV Fachverlage GmbH, Wiesbaden 2007

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