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Mergers and Acquisitions (Types of mergers and acquisitions (1.2 Reasons,…
Mergers and Acquisitions
- Types of mergers and acquisitions
Horizontal merger: A merger between companies that are in direct competition with each other in terms of product lines and markets
Vertical merger: A merger between companies that are along the same supply chain (e.g., a retail company in the auto parts industry merges with a company that supplies raw materials for auto parts.)
1.2 Reasons
Economies of Scale: in horizontal mergers (companies dealing in same line of products) where scope of more intensive use of resources is greater.
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Conglomerate merger: A merger between companies in unrelated business activities (e.g., a clothing company buys a software company)
Product-extension merger: A merger between companies in the same markets that sell different but related products or services
Market-extension merger: A merger between companies in different markets that sell similar products or services
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- Successful and unsuccessful acquisitions
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- Poison pill measures is a tactic utilized by companies to prevent or discourage hostile takeovers. A company targeted for a takeover uses a poison pill strategy to make shares of the company's stock unfavorable to the acquiring firm.
Защита Пэк-Мена (Pac-Man defense) – поглощаемая компания старается уклониться от навязываемого ей предложения, делая покупателю встречное предложение о покупке.
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Акулья отрава (shark repellent) – любая тактика, направленная на то, чтобы отбить желание приобрести компанию. Создаются препятствия (например, путем внесения поправок в устав), мешающие новому владельцу установить контроль над компанией.
Золотой парашют (golden parachute) – компенсация, выплачиваемая высшему руководству акционерного общества при увольнении в результате поглощения общества или его слияния с другой компанией.
- Success in international mergers, what measures can be taken to avoid failure
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