Creating Value from Mergers and Acquisitions: The Challenges: The Challenges, an Integrated and International Perspective

Creating Value from Mergers and Acquisitions gives an integrated and international perspective. This new book builds on and extends the author’s highly successful title The Essence of Mergers and Acquisitions. This 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. The book develops 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 and organisational theories to formulate a five-stage model and emphasises the need to understand the inter-connected nature of these stages. The book’s central focus is 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 be increased.   Creating Value from Mergers and Acquisitions is suitable for those studying advanced undergraduate and MBA courses in industrial organisation, finance, business strategy, and corporate governance, as well as those preparing for exams set by professional bodies. 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.

Creating Value from Mergers and Acquisitions

gives an integrated and international perspective. This new book builds on and extends the author’s highly successful title The Essence of Mergers and Acquisitions. This 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. The book develops 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 and organisational theories to formulate a five-stage model and emphasises the need to understand the inter-connected nature of these stages.

The book’s central focus is 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 be increased.

"This is a humdinger of a book and will surely become the standard text on mergers, acquisitions and divestments." Alfred Kenyon, formerly Corporate Treasurer, Plessey plc and co-author of award-winning Creating Value, Shaping Tomorrow's Business.

"The book is outstanding. It is extremely well set out and written. I particularly like the way you link together the economics, finance, organization and strategy approaches to takeovers. That seems to be exactly what is required and I have no doubt that there will be a considerable demand for this from both students and lecturers" Colin Mayer, Peter Moores Professor of Management Studies, Said Business School, University of Oxford, UK

"Simply a "must read" for all persons who require a broad understanding of the various issues involved in planning and executing acquisitions and mergers"  Tom Berglund, Professor of Finance, Swedish School of Economics and Business Administration, Helsinki, Finland

"This revised text is an important contribution to a burgeoning M & A literature" Nikhil Varaiya, Professor of Finance, San Diego State University, USA

"The book is great and will fill a real need in the market.  Very valuable for both professional practitioners and MBA students" Nick Rogerson, Head of Corporate M & A, Novartis International, Basel, Switzerland

Features:

• Each chapter contains numerous short illustrations to exemplify practice or to elucidate complex issues.
• To increase reader friendliness, complex information, such as reviews of empirical studies and regulatory rules, is presented in tables and figures.
• A short case study is included in most chapters to highlight the main issues in that chapter.
• Case study and review questions are provided for further class discussion.
• Each chapter provides a chapter overview and implications for M & A practice.
• The book emphasises critical examination and empirical validation of theoretical predictions and provides a balanced treatment of M & A, drawing upon the conceptual, empirical and practitioner perspectives.

Creating Value from Mergers and Acquisitions is suitable for those studying advanced undergraduate and MBA courses in industrial organisation, finance, business strategy, and corporate governance, as well as those preparing for exams set by professional bodies. 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.

 

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