Maximizing corporate value through mergers and acquisitions : a strategic growth guide / Patrick A. Gaughan.

Format:

Book

Author/Creator:

Gaughan, Patrick A.

Series:

Wiley finance series.

Wiley finance series

Language:

English

Subjects (All):

Consolidation and merger of corporations.

Physical Description:

1 online resource (354 p.)

Edition:

1st edition

Place of Publication:

Hoboken, N.J. : Wiley, 2013.

Language Note:

English

System Details:

text file

Summary:

Solid guidance for selecting the correct strategic basis for mergers and acquisitions Examining how M&A fits in corporate growth strategies, Maximizing Corporate Value through Mergers and Acquisitions covers the various strategic reasons for companies entering mergers and acquisitions (M&A), with a look at those that are based on sound strategy, and those that are not.Helps companies decide whether M&As should be used for growth and increased corporate value Explores why M&A deals often fail to deliver what their proponents have represented they wouldEx

Contents:

Maximizing Corporate Value through Mergers and Acquisitions: A Strategic Growth Guide; Contents; Preface; Chapter 1: Merger Growth Strategy; Strategy and M&A; Introduction to M&A; Background and Terminology; Hostile Takeovers; Takeover Defense; Leveraged Transactions; Restructurings; Trends in Mergers; Notes; Chapter 2: Growth through Mergers and Acquisitions; Is Growth or Increased Return the More Appropriate Goal? The Case of Hewlett-Packard; M&A Must Fit the Strategy-Not the Other Way Around; Strategy Should Not Be Just M&A; Organic Growth or Growth through M&A

Acquisition and Development versus Research and Development Can M&A Be Effectively Used to Buy Growth?; Success in Core Business Does Not Always Translate to Success with M&A Strategy: Focus on Microsoft; Growth through Bolt-On Acquisitions; Knowing When to Exit a Business; From Growth through M&A to Growth through Organic Expansion; Controlling the Runaway Dealmaker CEO; Using M&A to Achieve Growth in a Slow-Growth Industry; Squeezing Out Growth in a Slow-Growth Industry Using Multiple Options; Dealing with a Slow-Growth Business and Industry; Geographical Expansion through M&A

International Growth and Cross-Border Acquisitions Taking Advantage of Currency Fluctuations to Pursue High-Growth M&A; Finding Growth in High-Growth Markets; Cyclical Companies Achieving Growth in Recessed Markets; Notes; Chapter 3: Synergy; What Is Synergy in the Context of M&A?; Achievement of Synergy: A Probabilistic Event; Types of Synergy; Industries' Pursuit of Cost Economies; Research on Operating Economies in M&A; Economies of Scope; Scope Economies and the One-Stop Shop; Copycat Following of Another Firm's FoolishM&A Strategy

Cost Economies in Banking Mergers: United States versus EuropeInternationalization Theory of Synergy and Information-Based Assets; Notes; Chapter 4: Diversification; Diversifying M&A in the Conglomerate Era; Modern-Day U.S. Conglomerates; Portfolios of Companies; Theoretical Basis for Diversification; Applying Portfolio Theory to Conglomerates?; Diversification and the Acquisition of Leading Industry Positions; Achieving a Number One or Two Ranking Is Not a Panacea; Diversification to Enter More Profitable Industries; Empirical Evidence on Diversification

Empirical Evidence on the Acquisition Programs of the 1960's How Likely Is It That Diversifying Acquisitions Will End Up Being Sold Off?; Is There a Diversification Discount?; Focus Hypothesis; Types of Focus Increases; Focus-Increasing Asset Sales Raise Value; Explanation for the Diversification Discount; Related versus Unrelated Diversification; Why Are Very Diversified Companies Allowed to Form? Beware of the Empire Builders; Do Managerial Agendas Drive M&A?; Notes; Chapter 5: Horizontal Integration and M&A; Advantages of Holding the One and Two Position in the Industry

Benefits of Size: Spotlight on the Mobile Telecommunications Industry

Notes:

Description based upon print version of record.

Includes bibliographical references and index.

ISBN:

9781119204374

1119204372

9781299464971

1299464971

9781118224229

1118224221

OCLC:

836400467