Read complete books and articles on: Corporate Mergers and Acquisitions

Merger - in corporate business, fusion of two or more corporations by the transfer of all property to a single corporation. The remaining corporation continues in existence, having absorbed the other(s). Mergers may be of various types: A vertical merger integrates different types of businesses that may share a supplier-customer relationship; a horizontal merger brings together related businesses; an extensional merger. joins two similar businesses to enter a new market; and a hostile takeover occurs when a stronger business absorbs another against its will. The methods of effecting mergers vary. Often the corporation that continues to function makes an outright purchase of the property and stock of the others; exchange of bonds, options, and other agreements are also employed by the corporations involved.

Mergers may be effected to increase profits and reduce losses through the reduction of competition, to diversify production, to protect against the liabilities of concentration in a single area, or to revive or rejuvenate failing businesses by the infusion of new management and personnel. Mergers for monopolistic purposes were among the unfair practices that the Sherman Antitrust Act (1890) and, more especially, the Clayton Antitrust Act (1914) attempted to correct. The international nature of many modern corporations now also subjects mergers to antitrust scrutiny overseas, particularly in the European Union.

The end of the 20th cent. witnessed a great increase in mergers; in the United States alone, 60,375 mergers involving a total of over $4.5 trillion occurred between 1980 and 1996. Among the largest recent U.S. mergers are those between America Online and Time Warner (2000; $165 billion, but worth significantly less after the bubble in Internet-related stocks collapsed), Exxon and Mobil (1999; $81 billion); Citicorp and Travelers Corp. (1998; $72.6 billion), SBC Communications and Ameritech (1998; $60.1 billion), and AT&T and TCI (1999; $48 billion).

16 of the Best Books and Articles on: Corporate Mergers and Acquisitions

as selected by Questia librarians

1.

The Complete Guide to Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level » Read Now
by Timothy J. Galpin, Mark Herndon. 250 pgs.

Collections: Entire Library

Merger and acquisition deals are now at an all-time high, having doubled in frequency since 1990. Done right, M&s result in unified, cohesive new organizations whose financial and strategic options are much improved. This guide gives executives, managers, and supervisors the guidance and tools they...
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Merger and acquisition deals are now at an all-time high, having doubled in frequency since 1990. Done right, M&s result in unified, cohesive new organizations whose financial and strategic options are much improved. This guide gives executives, managers, and supervisors the guidance and tools they need to see an M& successfully through at every organizational level and so more quickly realize its synergies. Beginning with the deal itself, The Complete Guide to Mergers and Acquisitions shows managers how to minimize the impact of a merger on personnel and realize its strategic and financial benefits faster, more efficiently, and more effectively. It clearly explains the issues managers will face at each stage of the process and contains step-by-step instructions for creating a successful communications strategy, retaining and re-recruiting key talent, creating a clear selection and staffing plan, designing and managing the integration process, and measuring progress. Designed by two veterans of dozens of successful mergers and acquisitions, this field-proven program works equally well for senior managers looking at the big picture and for line managers supervising smaller departmental integration. The authors include plenty of templates, charts, checklists, graphs, and tools that give hands-on help along the way. They also offer both best practice and worst practices from a wide variety of companies, laying out the examples to follow and the mistakes to avoid. A sample task force charter in the back of the book, along with an integration planning template, provides concrete direction for mapping out an integration action plan that works. The Executive Summary of Watson Wyatt Worldwide's 1998/99 M& Survey found in the appendix reinforces the best practices presented in the text.
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2.

The Morning After: Making Corporate Mergers Work after the Deal Is Sealed » Read Now
by Stephen J. Wall, Shannon Rye Wall. 240 pgs.

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At the dawn of the twenty-first century, the corporate marriage frenzy had reached fever pitch: the spectacular announcement of the AOL-TimeWarner merger was only the latest in a series of high-profile deals -- from Daimler-Chrysler to Citicorp-Travelers -- with a total value exceeding two trillion...
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At the dawn of the twenty-first century, the corporate marriage frenzy had reached fever pitch: the spectacular announcement of the AOL-TimeWarner merger was only the latest in a series of high-profile deals -- from Daimler-Chrysler to Citicorp-Travelers -- with a total value exceeding two trillion dollars. This phenomenon is not a flash in the pan; today's business environment requires that companies go outside their boundaries to gain access to the resources and expertise that will allow them to compete effectively and increase the value of the enterprise. But after the ink is dry, most experiments in corporate acquisition fail to live up to expectations. In The Morning After, Stephen and Shannon Rye Wall examine dozens of cases to identify the seven common warning signs that an acquisition is in danger and outline practical strategies for making corporate marriages successful in the long run. From pre-merger planning to launching the integration process to defining new roles for executives and managers, The Morning After offers a wealth of concrete tools for leading and sustaining successful collaborations.
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3.

The Complete Guide to Mergers and Acquisitions: Process Tools to Support M&A Integration at Every Level » Read Now
by Timothy J. Galpin, Mark Herndon. 250 pgs.

Collections: Entire Library

Merger and acquisition deals are now at an all-time high, having doubled in frequency since 1990. Done right, M&s result in unified, cohesive new organizations whose financial and strategic options are much improved. This guide gives executives, managers, and supervisors the guidance and tools they...
Read More

Merger and acquisition deals are now at an all-time high, having doubled in frequency since 1990. Done right, M&s result in unified, cohesive new organizations whose financial and strategic options are much improved. This guide gives executives, managers, and supervisors the guidance and tools they need to see an M& successfully through at every organizational level and so more quickly realize its synergies. Beginning with the deal itself, The Complete Guide to Mergers and Acquisitions shows managers how to minimize the impact of a merger on personnel and realize its strategic and financial benefits faster, more efficiently, and more effectively. It clearly explains the issues managers will face at each stage of the process and contains step-by-step instructions for creating a successful communications strategy, retaining and re-recruiting key talent, creating a clear selection and staffing plan, designing and managing the integration process, and measuring progress. Designed by two veterans of dozens of successful mergers and acquisitions, this field-proven program works equally well for senior managers looking at the big picture and for line managers supervising smaller departmental integration. The authors include plenty of templates, charts, checklists, graphs, and tools that give hands-on help along the way. They also offer both best practice and worst practices from a wide variety of companies, laying out the examples to follow and the mistakes to avoid. A sample task force charter in the back of the book, along with an integration planning template, provides concrete direction for mapping out an integration action plan that works. The Executive Summary of Watson Wyatt Worldwide's 1998/99 M& Survey found in the appendix reinforces the best practices presented in the text.
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4.

Mergers and Acquisitions: A Guide to Creating Value for Stakeholders » Read Now
by Jeffrey S. Harrison, Michael A. Hitt, R. Duane Ireland. 230 pgs.

Collections: Entire Library

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 M&A action was merely the latest in a growing trend of...
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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 M&A action was merely the latest in a growing 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 in the 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 find partners/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 M&A's and how to avoid them, how to conduct successful cross-border acquisitions, and how to ensure that 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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5.

Restructuring American Corporations: Causes, Effects, and Implications (Chap. 3 "Corporate Mergers") » Read Now
by Abbass F. Alkhafaji. 198 pgs.

Collections: Entire Library

Written for financial and management executives, this volume provides a comprehensive and detailed examination of the restructuring of American business which has resulted from a spate of large-scale mergers, acquisitions, takeovers, and buyouts. Alkhafaji explores the reasons for the increasing...
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Written for financial and management executives, this volume provides a comprehensive and detailed examination of the restructuring of American business which has resulted from a spate of large-scale mergers, acquisitions, takeovers, and buyouts. Alkhafaji explores the reasons for the increasing popularity of takeovers, mergers, and buyouts; who benefits from and who is affected by these strategies; who loses and who wins in the process; the international aspects of corporate restructuring; and the future implications for financial and senior managers.
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6.

A Buy-Side Model of M & A Lockups: Theory and Evidence, in Stanford Law Review » Read Now
by John C. Coates IV, Guhan Subramanian . 90 pgs.

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...market for corporate control...deal, and in mergers both parties...mergers and acquisitions of U.S. public...parties (mergers of equals vs. acquisitions). In addition...or...
7.

Why Premerger Review Needed Reform, and Still Does, in William and Mary Law Review » Read Now
by Andrew G. Howell. 43 pgs.

Collections: Entire Library

...companies, corporate acquisitions and mergers, and interlocking...150 largest corporate acquisitions each year...subjecting `small mergers--involving...The pace of mergers...
8.

The New Corporate Cultures: Revitalizing the Workplace after Downsizing, Mergers, and Reengineering » Read Now
by Terrence E. Deal, Allan A. Kennedy. 312 pgs.

Collections: Entire Library

Fifteen years after publishing Corporate Cultures, Deal and Kennedy discuss the negative affects of recent economic forces (globalization and technology) and management trends (downsizing, outsourcing, short-termism, and mergers). They show managers how to exercise cultural leadership by finding...
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Fifteen years after publishing Corporate Cultures, Deal and Kennedy discuss the negative affects of recent economic forces (globalization and technology) and management trends (downsizing, outsourcing, short-termism, and mergers). They show managers how to exercise cultural leadership by finding common ground among corporate subcultures, and call for corporations to institute performance measurement systems that emphasize long-term goals.
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9.

The Human Side of Mergers and Acquisitions: Understanding and Managing Human Resource Integration Issues, in Human Resource Planning » Read Now
by Thomas L. Legare. 10 pgs.

Collections: Entire Library

...next century. Most mergers and acquisitions are premised on...agree on a general corporate direction. More...conflict arises because corporate staff and division...to crop...
10.

Differences between Mergers and Acquisitions: A CPA Valuator Can Help Clients Decide Whether to Merge or Acquire, in Journal of Accountancy » Read Now
by Nicholas J. Mastracchio Jr., Victoria M. Zunitch. 4 pgs.

Collections: Entire Library

...mergers and acquisitions (M A), for...Caveat: In mergers, a target often...published corporate literature...demand." MERGERS VS. ACQUISITIONS Generally...the author of...
11.

Intervening in the Middle: Coping Strategies in Mergers and Acquisitions, in Human Resource Planning » Read Now
by Anthony F. Buono. 15 pgs.

Collections: Entire Library

...How to Survive Mergers, Takeovers, and Other Corporate Disasters. (Reading...S.B. "Corporate Acquisitions: A Process Perspective...and Walsh, J.P. "Mergers and...
12.

Effects of Taxation: Corporate Mergers (1970) » Read Now
by J. Keith Butters, John Lintner, William L. Cary, Powell Niland. 366 pgs.

Collections: Entire Library

...TO MERGERS, ALL ACQUISITIONS, BY RANK GROUPS...EFFECTS OF TAXATION CORPORATE MERGERS CHAPTER I Introduction...slightly as a result of corporate acquisitions of other firms...
13.

Unrest in the European Commission: The Changing Landscape and Politics of International Mergers for United States Companies, in Houston Journal of International Law » Read Now
by Jeffrey M. Peterson. 33 pgs.

Collections: Entire Library

...pace of European mergers and acquisitions slowed in 2000...language applicable to corporate mergers. (46) Over...the Commission of mergers, acquisitions, joint...
14.

The Competition Criterion in British Merger Control Policy, in Policy Studies Journal » Read Now
by Georgine M. Kryda. 18 pgs.

Collections: Entire Library

...define the corporate environment...p. 11). Mergers or acquisitions do not add...impeding corporate mergers and resented...Scottish acquisitions and the British...Does...
15.

Recent Amendments to the Commercial Code of Japan: Impact on Mergers & Acquisitions, in Law and Policy in International Business » Read Now
by Laurie N. Lebrun. 13 pgs.

Collections: Entire Library

...Japan: impact on mergers acquisitions. by Laurie...companies to effect corporate acquisitions...attempted contested acquisitions have involved...of an internal corporate...
16.

An Analysis of Mergers and Acquisitions in Mexico: 1985-1996, in International Journal of Public Administration » Read Now
by James P. D'Mello. 26 pgs.

Collections: Entire Library

...ANALYSIS OF MERGERS AND ACQUISITIONS IN MEXICO...conditions, corporate investors...escalation of corporate restructuring such as mergers, acquisitions and...