- Paperback
- Publisher: Prentice Hall; 3 edition (15 Sep 2000)
- ISBN-10: 0130291013
- ISBN-13: 978-0130291011
- Product Dimensions: 19.8 x 13 x 2.5 cm
- Average Customer Review: 3.0 out of 5 stars See all reviews (3 customer reviews)
- Amazon Bestsellers Rank: 4,464,282 in Books (See Top 100 in Books)
- See Complete Table of Contents
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Product Description
Product Description
For undergraduate/graduate-level courses on Mergers and Acquisitions, or as a supplement for Business or Corporate Finance, Economics, or Strategy.
This book brings together conceptual and updated empirical material in a systematic way. It provides students with a basis for understanding mergers and acquisitions and corporate restructuring in the framework of strategic planning issues facing managers in all companies, small and large.
--This text refers to an out of print or unavailable edition of this title.From the Back Cover
Mergers and acquisitions are the most significant economic activity taking place in today's economy. This text seeks to explain the role of this activity and helps managers pursue M&A strategies more effectively.
Features:- Provides conceptual discussion on why mergers take place
- Describes the arbitrage activity associated with mergers and acquisitions
- Presents the historical and industry evidence on the sources of merger activity
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Customer Reviews
Most Helpful Customer Reviews
Format:Paperback
This book is about 10 years old now, but I regard it as one of the better books on its complicated matter. However, it would be nice to see an updated version of it.
Although its size, I would love it more if there was as much attention to the theory of mergers, arbitrage, corporate governance... as there is attention to empirical evidence from academic papers. Also some things are just wrong. For example: a company that buys back stock won't trade at its previous price-to-earnings ratio! Earnings per share will improve, but the stock price stays the same, naturally (ceteris paribus). This is something that was overloooked by the authors, by assuming a stable P/E ratio.
But in general a great read!
Although its size, I would love it more if there was as much attention to the theory of mergers, arbitrage, corporate governance... as there is attention to empirical evidence from academic papers. Also some things are just wrong. For example: a company that buys back stock won't trade at its previous price-to-earnings ratio! Earnings per share will improve, but the stock price stays the same, naturally (ceteris paribus). This is something that was overloooked by the authors, by assuming a stable P/E ratio.
But in general a great read!
2 of 3 people found the following review helpful
Format:Paperback
As a 3rd year MA Finance student, I have accumulated around 23 academic books for various modules and I find this to be by far the least helpful.
I am sure that if someone wishes to learn about M&A it would be very useful; much of the required information is there and the case studies are very informative.
However if you intend to use it for an academic course it is definitely what we would call a `library-job'. The structure and indexing is so unbelievably poor; the index is full of company references to case studies and it omits the techniques and principals used in the cases, which is the entire point of using the cases for illustration.
Infuriating.
The book also seems to miss-out important features of M&A such as severance pay to managers and the incentives they induce. Oh, and for an `international' edition it focuses mainly on American mergers, but that's just my own personal reservation about these books in general...
Like I said; the information is there should you just want to learn a bit about the subject, but for educational work its truly weak. Borrow, don't buy.
I am sure that if someone wishes to learn about M&A it would be very useful; much of the required information is there and the case studies are very informative.
However if you intend to use it for an academic course it is definitely what we would call a `library-job'. The structure and indexing is so unbelievably poor; the index is full of company references to case studies and it omits the techniques and principals used in the cases, which is the entire point of using the cases for illustration.
Infuriating.
The book also seems to miss-out important features of M&A such as severance pay to managers and the incentives they induce. Oh, and for an `international' edition it focuses mainly on American mergers, but that's just my own personal reservation about these books in general...
Like I said; the information is there should you just want to learn a bit about the subject, but for educational work its truly weak. Borrow, don't buy.
1 of 4 people found the following review helpful
Format:Paperback
This book is a good textbook for the learning of mergers and acquisitions. It covers most topics in this area.
The only weakness of this book is the discussions of some topics are relatively simple and can't give a systematic explanation.
The only weakness of this book is the discussions of some topics are relatively simple and can't give a systematic explanation.
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