Abstract
Discusses the substantial increase in merger and acquisition (M & A) activity both domestically and internationally during the 1980s which, in contrast to previous waves of M & A activity, involved organizational marriages between organizations in the same area of business activity. As a result, merger synergy has become increasingly dependent on the wide‐scale integration of people and their organizational cultures. Examines the potential role played by people, the so called “soft” issues in merger success. Argues that this distinction between “hard” (financial and strategic) and “soft” issues is extremely unhelpful in reaching any complete understanding of such complex phenomena.
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