Resource title

Building M&A Integration capabilities - M&A practices as a key instrument to improve M&A integration - How Serial Acquirers Become Master Acquirers

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While firms increasingly rely on mergers and acquisitions as akey growth instrument, many firms have difficulty successfullyintegrating the target. To counter the disappointing statistics,some firms like IBM and Xerox use M&A practices that capturelearnings to improve M&A integrations. Comparing occasional withmaster acquirers, we find that those that make effective use ofsuch M&A practices increase their chances of success with up to24%. While there are plenty of reasons for M&A integrations tofail, we derive four key lessons that give master acquirers aleading edge over their occasional counterparts. The findings are based on survey data by 101 firms engaged in 2,447 integrations over the past decade and one dozen expert interviews. The conclusions are based using case examples of master M&A integration practices from six master acquirers IBM, Xerox, Home Depot, Dow Chemical, GE Capital Finance and SC Johnson.JEL code: G34

Resource author

Koen H. Heimeriks, Maurizio Zollo, Stephen Gates

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Resource language

eng

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application/pdf

Resource resource URL

http://hdl.handle.net/10398/7478

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