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Article
A phased approach to merger and acquisition integration: Tapping experiential learning.
Strategic Management in the 21st Century
  • David R. King, Iowa State University
Document Type
Book Chapter
Publication Version
Published Version
Publication Date
5-22-2013
Abstract
A merger and acquisition (M&A) is not a strategy, but a means to pursue one. Although there are multiple reasons to pursue an acquisition, the primary challenge in doing so is that M&A consistently fails to improve firm performance.1 Poor integration between the acquiring and target firms provides and explanation for M&A performance falling short of expectations, because integration is pivotal in creating value from M&A. Without integration there is little justification for paying premiums for targets that average 40 percent.2 Integration, however, is difficult to execute, and existing frameworks describing M&A integration and its impact on performance have limited usefulness.
Comments

This chapter is from Strategic Management in the 21st Century, 2013, 2(3); 48-70. Posted with permission.

Copyright Owner
Praeger
Language
en
File Format
application/pdf
Citation Information
David R. King. "A phased approach to merger and acquisition integration: Tapping experiential learning." Strategic Management in the 21st Century Vol. 2 Iss. 3 (2013) p. 48 - 70
Available at: http://works.bepress.com/david_king/38/