The growth in mergers and acquisitions (M&A) activity around the world masks a high rate of failure. M&A can provide companies with many benefits, but in the optimism and excitement of the deal many of the challenges are often overlooked. This comprehensive collection, bringing together an international team of contributors, moves beyond the theory to focus on the practical elements of mergers and acquisitions.
This hands-on, step-by-step volume provides strategies, frameworks, guidelines, and ample examples for managing and optimizing M&A performance, including:
- ways to analyze different types of synergy;
- understanding and analyzing cultural difference along corporate and national cultural dimensions, using measurement tools;
- using negotiation, due diligence, and planning to analyze the above factors; making use of this data during negotiation, screening, planning, agreement, and when deciding on post-merger integration approaches.
Students, researchers, and managers will find this text a vital resource when it comes to understanding this key facet of the international business world.
Table of Contents
List of figures
List of tables
Notes on contributors
1 Mergers and acquisitions in practice: a state-of-art and future directions
Shlomo Y. Tarba, Sir Cary L. Cooper, Riikka M. Sarala, and Mohammad F. Ahammad
2 Motives for European mergers and acquisitions: analysis of pre-merger press announcements and post-merger interviews
Agyenim Boateng, George Lordofos, and Keith W. Glaister
3 Motives for cross-border mergers and acquisitions: perspective of UK firms
Mohammad F. Ahammad, Shlomo Y. Tarba, Keith W. Glaister, Ian P. L. Kwan, Riikka M. Sarala, and Luiz Montanheiro
4 Strategic mergers in the public sector: comparing universities and hospitals
Rómulo Pinheiro, Timo Aarrevaara, Laila Nordstrand Berg, Lars Geschwind, and Dag Olaf Torjesen
5 Chinese cross-border M&A into industrialized countries: the case of Chinese acquisitions in Germany
Marina Schmitz, Fabian Jintae Froese, and Winno V. Wangenheim
6 Post-merger integration in the pharmaceutical and biotechnology industries: a practical approach
7 Human resource management in the context of mergers and acquisitions
Fang Lee Cooke
8 The role of human resource management practices in mergers and acquisitions
Sut I Wong, Elizabeth Solberg, Paulina Junni, and Steffen Robert Giessner
9 How do communication and cultural differences explain post-merger identification? Evidence from two merged dairy firms
10 Multiple shared identities in cross-border M&As
Anna Lupina-Wegener and Rolf van Dick
11 The link between cultural due diligence and sociocultural post-merger integration management as a critical success factor in M&As
Natalie Witzmann and Christoph Dörrenbächer
12 Acquisition in the banking sector in the transition process to the market economy
Ruth Alas, Tiit Elenurm, Tiiu Allikmäe, and Riina Varts
13 Does acquisition experience matter? From yes or no to why, when, and how
Florian Bauer, Andreas Strobl, and Kurt Matzler
14 Strategic alliances in the organizational and financial literatures: a review
Ian P. L. Kwan
Shlomo Y. Tarba is Associate Professor in Business Strategy and Head of the Department of Strategy and International Business at Birmingham Business School, University of Birmingham, UK.
Sir Cary L. Cooper is the 50th Anniversary Professor of Organizational Psychology and Health at Manchester Business School, University of Manchester, UK, and President of the CIPD.
Riikka M. Sarala is Associate Professor of Management at the University of North Carolina at Greensboro, USA.
Mohammad F. Ahammad is Reader in Strategy and International Business at Sheffield Business School, Sheffield Hallam University, UK.
'This book is a valuable guide for scholars approaching this multifaceted intriguing subject.' - Arturo Capasso, Università del Sannio, Italy
'As an experienced executive with an academic background, it is exciting and challenging to recommend this very professional selection of articles dealing with acquisition, merger and integration processes. This "body of knowledge" – theory analysis and operational implication - represents different perspectives but draws common links between them. It is an important contribution to a better understanding of the M&A phenomenon.' - Dr. Haim Benyamini, Former Vice President of HR, TEVA Pharmaceuticals Corporation
'This book expands on and integrates theories and perspectives from various domains to better understand the motives, management and implications of mergers and acquisitions in an international context. The editors and authors illuminate the challenges in crafting and implementing mergers and acquisitions and offer new and significant insights to scholars, students and practitioners who are interested in the challenge of growing a firm in an international setting.' - Prof. Avraham Carmeli, Professor of Strategy and Management, Tel Aviv University, Israel
'This book advances our understanding of M&A in an important manner. In particular, it highlights processes and dynamics that have, as of yet, been poorly understood. The chapters provide a number of insights that both researchers and practitioners can enjoy and learn from.' - Eero Vaara, Professor, Department of Management Studies, Aalto University School of Business, Finland