acquisitionandrestructuringstrategies英文版(編輯修改稿)
2025-03-27 04:12 本頁面
【文章內(nèi)容簡介】 n Example: AgriBioTech’s acquisition of dozens of small seed firms Integration Difficulties Differing financial and control systems can make integration of firms difficult Inadequate Evaluation of Target “ Winners Curse” bid causes acquirer to overpay for firm Large or Extraordinary Debt Costly debt can create onerous burden on cash outflows Example: Ford and Jaguar Example: JiaoDa and Caiyuan Example: GEprior to selling businesses and refocusing Inability to Achieve Synergy Justifying acquisitions can increase estimate of expected benefits Problems with Acquisitions Overly Diversified Acquirer doesn’t have expertise required to manage unrelated businesses Managers Overly Focused on Acquisitions Managers may fail to objectively assess the value of outes achieved through the firm’s acquisition strategy Too Large Large bureaucracy (官僚 ) reduces innovation and flexibility Attributes of Effective Acquisitions Complementary Assets or Resources Buying firms with assets that meet current needs to build petitiveness + Friendly Acquisitions Friendly deals make integration go more
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