Mergers and Acquisitions to Mergers and Acquisitions: Issues from the Mid-Century Merger Wave

Mergers and Acquisitions to Mergers and Acquisitions: Issues from the Mid-Century Merger Wave

by Michael Keenan, Lawrence J White


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Drawing on papers from a January 1981 conference held by the Salomon Center for the Study of Financial Institutions at New York University, this work examines theoretical questions concerning mergers and acquisitions, legal and social concerns, patterns of mergers and acquisitions, and mergers in the context of corporate strategic planning. Keenan teaches finance and White teaches economics at New York University. The book was originally published in 1982 by D. H. Heath and Company, under the title Mergers and Acquisitions: Current Problems in Perspective. Annotation ©2003 Book News, Inc., Portland, OR

Product Details

ISBN-13: 9781587981876
Publisher: Beard Books, Incorporated
Publication date: 06/01/2003
Pages: 368
Product dimensions: 6.00(w) x 9.00(h) x 0.82(d)

Table of Contents

Preface and Acknowledgmentsvii
Chapter 1Introduction1
Part ISome Issues in Merger Theory7
Chapter 2Mergers, Debt Capacity, and the Valuation of Corporate Loans9
Chapter 3Valuation Problems in Service-Sector Mergers29
Chapter 4Effects of Mergers on Information Production and Dissemination41
Part IISocial and Legal Issues65
Chapter 5The Social and Political Consequences of Conglomerate Mergers67
Chapter 6Mergers and Aggregate Concentration97
Chapter 7Chiarella and Rule 14e-3: Theory and Practice113
Chapter 8Do We Want a New, Tough Antimerger Law?169
Part IIIEmpirical Studies of the Determinants of Mergers203
Chapter 9Financial Motives in Conglomerate Mergers: An Empirical Test205
Chapter 10Financial Characteristics of Acquired Firms223
Chapter 11The Role of Employment and Capital Expenditure in the Merger and Acquisition Process243
Chapter 12Interfirm Tender Offers and the Market for Corporate Control267
Panel Discussion305
Part IVStrategic Planning and Mergers313
Chapter 13Diversification and Mergers in a Strategic Long-Range-Planning Framework315
Chapter 14Implementation of the Mergers and Acquisitions Program at United Technologies Corporation347
List of Conference Participants and Contributors357
About the Editors359

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