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Creating Value from Mergers and Acquisitions

Creating Value from Mergers and Acquisitions

2nd Edition

Sudi Sudarsanam

Jun 2010, Paperback, 816 pages
ISBN13: 9780273715399
ISBN10: 0273715399
For orders to USA, Canada, Australia, New Zealand or Japan visit your local Pearson website
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Creating Value from Mergers and Acquisitions is the first book to provide a comparative analysis of the M&A scene in Europe and the US, the two most active markets in the world. Now in its second edition it continues to develop an international and multidisciplinary perspective of M&A, and considers M&A as a process and not a mere transaction. The author draws upon economics, finance, strategy, law, organisational theories to formulate a five-stage model and emphasises the need to understand the interconnected nature of these stages. The book’s central focus in on the challenges to using M&A as an instrument to create shareholder value, how M&A risks can be mitigated and how odds of success in acquisitions can me increased.

Creating Value from Mergers and Acquisitions is suitable for those studying advanced undergraduate and MBA courses in industrial organisations, finance, business strategy, and corporate governance, as well as those preparing for professional exams. The rigorous integration of the conceptual, empirical, and practical aspects of M&A means that researchers and practitioners will also find this book extremely useful.

CONTENTS

Preface to the second edition
Preface to the first edition
Author's Acknolwedgements
Publisher’sacknowledgements

1 Introduction

Part One

HISTORIC, CONCEPTUAL AND PERFORMANCE OVERVIEW OF MERGERS AND ACQUISITIONS

2 Historical overview of mergers and acquisitions activity

3 Alternative perspectives on mergers

4 Are acquisitions successful?

Part Two

CORPORATE STRATEGY AND ORGANIZING FOR ACQUISITIONS

5 Sources and limits of value creation in horizontal and related mergers

6 Sources and limits of value creation in vertical mergers

7 Sources and limits of value creation in conglomerate acquisitions

8 Cross-border acquisitions

9 Strategic alliances as an alternative to mergers and acquisitions

10 Corporate divestiture

11 Leveraged buyouts &nnbsp;

12 Acquisition decision process: organizational, psychological and governance perspectives

13 Target selection for acquisition

Part Three

DEAL STRUCTURING AND NEGOTIATION

14 Target valuation

15 Accounting for mergers and acquisitions

16 Paying for the acquisition

17 Antitrust regulation

18 Regulating takeover bids

19 Advisers in takeovers

20 Bid strategies and tactics

21 Defences against takeovers

Part Four

POST-ACQUISITION INTEGRATION AND ORGANIZATIONAL LEARNING

22 Organizational and human aspects of post-acquisition integration

23 Post-acquisition audit and organizational learning

24 Meeting the challenges of mergers and acquisitions

Index

  • Short illustrations in every chapter highlight standard practices and explain complex issues
  • User-friendly tables and figures make complex empirical data easier to comprehend.
  • Most chapters contain a short case study to highlight important issues.
  • Case studies and review questions enable further discussion and study
  • Chapter overviews
  • Provides a balanced treatment of M&A, drawing upon the conceptual, empirical, and practitioner perspectives
  • Emphasises critical examination and empirical validation of theoretical predictions

Sudi Sudarsanam is a Professor of Finance and Corporate Control at Cranfield School of Management, UK.