Bruner Deals from Hell

M&A Lessons that Rise Above the Ashes
1. Auflage 2009
ISBN: 978-0-471-73718-6
Verlag: John Wiley & Sons
Format: PDF
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 432 Seiten, E-Book

A detailed look at the worst M&A deals ever and the lessonslearned from them
It's common knowledge that about half of all merger and acquisition(M&A) transactions destroy value for the buyer's shareholders,and about three-quarters fall short of the expectations prevailingat the time the deal is announced. In Deals from Hell, RobertBruner, one of the foremost thinkers and educators in this field,uncovers the real reasons for these mishaps by taking a closer lookat twelve specific instances of M&A failure. Through thesereal-world examples, he shows readers what went wrong and why, andconverts these examples into cautionary tales for executives whoneed to know how they can successfully navigate their own M&Adeals. These page-turning business narratives in M&A failureprovide much-needed guidance in this area of business. Byaddressing the key factors to M&A success and failure, thiscomprehensive guide illustrates the best ways to analyze, design,and implement M&A deals. Filled with in-depth insights, expertadvice, and valuable lessons gleaned from other M&Atransactions, Deals from Hell helps readers avoid the commonpitfalls associated with this field and presents them with a clearframework for thinking about how to make any M&A transaction asuccess.

Autoren/Hrsg.

Bruner, Robert F.

Weitere Mitwirkende

Levitt, Arthur

Inhaltsverzeichnis

Foreword by Arthur Levitt, Jr.
Acknowledgments.
1. Introduction.
I. The Foundations of M&A Failure.
2. Where M&A Pays and Where It Strays:A Survey ofResearch.
3. Profiling the Outlying M&A Deals.
4. Real Disasters and M&A Failure.
II. Case Studies of M&A Failure.
5. February 1968: Merger of the Pennsylvania and New YorkCentral Railroads.
6. December 1986: The Leveraged Buyout of Revco DrugStores.
7. September 1989: The Acquisition of Columbia Picturesby Sony Corporation.
8. September 1991: The Acquisition of NCR Corporation byAT&T Corporation.
9. December 1993: Renault's Proposed Merger withVolvo.
10. December 1994: The Acquisition of Snapple by QuakerOats.
11. May 1999: Mattel's Acquisition of The LearningCompany.
12. January 2001: Merger of AOL and Time Warner.
13. December 2001: Dynegy's Proposed Merger withEnron.
14. January 2002: Acquisition Program of TycoInternational.
III. Avoiding the Deal from Hell.
15. Conclusions and Implications.
16. Memo to the CEO:A Coda on Growth.
References.
About the Author.
Index.

Über Autor(innen)

Robert F. Bruner is the Dean of the Darden Graduate School of Business Administration and Charles C. Abbott Professor of Business Administration at the University of Virginia. He is the author or coauthor of more than 400 case studies and notes, as well as the author of two other Wiley titles, Applied Mergers and Acquisitions and The Panic of 1907. Bruner has served as a consultant to over twenty corporations and the U.S. government, and prior to his academic career worked as a commercial banker and venture capitalist. He holds a BA from Yale University, and an MBA and DBA from Harvard University.