Successful Merger Research Articles

Research on strategic motivation and performance of acquisitions in medical and health field —— A case study of Abiomed and Johnson & Johnson

The medical and healthcare industries are extremely competitive. By mergers and acquisitions, many businesses grow and accept more market share. Businesses can achieve additional development and increase their profit margins through successful mergers and acquisitions. One well-known company in the medical and health sector is Johnson & Johnson. To examine mergers and acquisitions of businesses in the medical and health sector, this article selects the Johnson & Johnson merger and purchase of Abiomed as a case study. It then analyzes the merger and acquisition through performance research and strategic reasoning. The medical and healthcare industries are extremely competitive. By mergers and acquisitions, many businesses grow and take up more market share. Businesses can achieve additional development and increase their profit margins through successful mergers and acquisitions. One well-known company in the medical and health sector is Johnson & Johnson. To examine acquisitions of businesses in the medical and health sector, this article selects the Johnson & Johnson merger and purchase of Abiomed as a case study. It then analyzes the acquisition through performance research and strategic reasoning.

A Study of the Determinants of the Successful Mergers and Acquisitions

As studies in recent Merger and acquisition (M&A) research, single determinant is preferred to be analyzed, while this report tend to divide factors into 4 determinants towards successful M&A. This report will analyze the determinants of synergy, valuation, cultural difference and policy with several actual cases to support the objectivity of the analysis. Initially, the effect of 1+1>2 is called synergy which can be split into operating synergy, management synergy and financial synergy that will enhance the coordination internally and attain extra market segments externally. Secondly, as the asymmetry of information, overestimates of valuation may generate unsuccessful M&A, for the goodwill is intangible and easy to be overvalued. Thirdly, the cultural difference in region, belief and corporate experience will impact on the M&A positively or negatively, for the uncertainty of cultural differences will increase the difficulty but also the opportunity in M&A. Lastly, different target company in different regions with different strategies might cause different results. In fact, the 4 determinants have internal relation. The enterprises used to prefer to expand the market or the scale in the industry by vertical M&A and horizonal M&A, but nowadays they tend to make a technical acquisition.

Design With, Not For, Local Community: Utilizing e-Participation Tools in the Design of Socially Sustainable Vertical Emirati Public Housing

The United Arab Emirates (UAE) is slowly transitioning from traditional single-family public housing to a ‘vertical’ typology to meet the increasing demand on public housing, solve the problem of the scarcity of land in urban areas, and contribute to achieving its local agenda for sustainable development goals. However, the direct involvement of Emirati residents in the design process of the recently developed limited number of vertical public housing projects has been missing. This research aims to involve a sample of Emirati residents, representing the targeted category for vertical public housing, in the pre-occupancy evaluation of the design of Al Ghurfa, the very recently developed vertical public housing project, focusing mainly on assessing the attainment of social sustainability in this design. The research method included four phases, including initiating a conceptual framework from relevant literature reviews, digitalizing the case study design, developing the conventional and e-Participation interview scenarios and scripts, and selecting a sample of Emirati young citizens who participated in the study. The results of the study successfully highlighted the participating residents’ preferences and concerns regarding the design of the investigated pioneering vertical public housing project. The findings revealed the interviewed citizens’ perceptions of the investigated social sustainability principles in the vertical housing design pertaining to mixed-use development within and outside the vertical residential building, social integration among neighbors of the building, vertical and horizontal accessibility inside and outside the building, security measures for the residents of the buildings and their privacy, design measures of the high-quality living environments, the user-responsive design of the housing units, and the importance of their involvement in the design. This helped propose a set of recommended design actions for attaining social sustainability in vertical housing design tailored to the specific needs of Emirati residents. The research has also revealed the successful merger between the conventional and advanced e-Participation tools in involving the residents in assessing the professional design of vertical public housing as a new emerging typology that is expected to prevail in the near future.

THE ROLE OF THE DUE DILIGENCE PROCEDURE IN THE DECISION MAKING FOR MERGERS AND ACQUISITIONS

Despite the extensive research on mergers and acquisitions, the subject of evaluation at the pre-investment stage is in continuous evolution. In the given context, it becomes important to understand the role of the Due Diligence procedure as a valuable tool for identifying risks, assessing operational and financial efficiency or inefficiency, and other aspects that can impact the performance of the transaction. The purpose of this research is to explore the interconnection between the following three important topics: Due Diligence, risk, performance. To make the clarification of this issue, the critical analysis of the opinions of other researchers, the trend analysis of evolution, and the document analysis was applied. By examining these interconnections, the study seeks to provide a comprehensive understanding of how Due Diligence influences the success of mergers and acquisitions transactions and offers insights for companies considering mergers and acquisitions activities, helping them to navigate potential challenges and optimize their strategies.

Effect of Mergers and Acquisitions in the Indian Banking Sector: A Case Study on Bank of Baroda

Effect of Mergers and Acquisitions in the Indian Banking Sector: A Case Study on Bank of Baroda

Electrochemical Asymmetric Radical Functionalization of Aldehydes Enabled by a Redox Shuttle

AbstractAminocatalysis is a well‐established tool that enables the production of enantioenriched compounds under mild conditions. Its versatility is underscored by its seamless integration with various synthetic approaches. While the combination of aminocatalysis with metal catalysis, photochemistry, and stoichiometric oxidants has been extensively explored, its synergy with electrochemical activation remains largely unexplored. Herein, we present the successful merger of electrochemistry and aminocatalysis to perform SOMO‐type transformations, expanding the toolkit for asymmetric electrochemical synthesis. The methodology harnesses electricity to drive the oxidation of catalytically generated enamines, which ultimately partake in enantioselective radical processes, leading to α‐alkylated aldehydes. Crucially, mechanistic studies highlight how this electrochemical strategy is enabled by the use of a redox shuttle, 4,4′‐dimethoxybiphenyl, to prevent catalyst degradation and furnishing the coveted compounds in good yield and high enantioselectivity.

Electrochemical Asymmetric Radical Functionalization of Aldehydes Enabled by a Redox Shuttle.

Aminocatalysis is a well-established tool that enables the production of enantioenriched compounds under mild conditions. Its versatility is underscored by its seamless integration with various synthetic approaches. While the combination of aminocatalysis with metal catalysis, photochemistry, and stoichiometric oxidants has been extensively explored, its synergy with electrochemical activation remains largely unexplored. Herein, we present the successful merger of electrochemistry and aminocatalysis to perform SOMO-type transformations, expanding the toolkit for asymmetric electrochemical synthesis. The methodology harnesses electricity to drive the oxidation of catalytically generated enamines, which ultimately partake in enantioselective radical processes, leading to α-alkylated aldehydes. Crucially, mechanistic studies highlight how this electrochemical strategy is enabled by the use of a redox shuttle, 4,4'-dimethoxybiphenyl, to prevent catalyst degradation and furnishing the coveted compounds in good yield and high enantioselectivity.

The creation of Grampians Health - a case study focusing on lessons learned from a health service merger.

This case study of the merger of four hospitals in western Victoria reports on the views of participants affected by the merger - as staff or from the communities - about 2 years after the merger. Respondents reported that many of the sought-after benefits of the merger were being delivered. However, the merger process itself attracted criticism, and it is here that this merger can provide lessons for others. Although there was a long lead time of consultation prior to the formal decision to merge, there was very little time to plan the next steps of implementation - there were only days between the decision and the merger taking effect. Future mergers should manage that differently. There is also a lot of literature on mergers which might provide a check list to enhance the likelihood of success in future mergers.

Asymmetric Learning in Successive Mergers and Acquisitions: Overconfidence and Loss Aversion

Using data from 865 acquisition events launched by Chinese A-share listed companies between 2013 and 2019, we divide the dataset into two subsamples: first-time merger successes and first-time merger failures. For firms that experienced initial merger success, we find the outcomes of their subsequent merger activities to be negative, as managerial overconfidence hindered the assimilation of valuable insights from the initial successful experience. Conversely, in the case of firms that encountered initial merger failure, managerial loss aversion stimulated a learning process that led to improved performance in subsequent merger endeavors. Asymmetric learning effects are observed to significantly impact the merger outcomes of serial acquirers. Further analysis reveals that managerial age plays a role in optimizing this asymmetric learning effect.

Independence of board leadership of acquirers and the success of mergers and acquisitions

Effective board monitoring prevents entrenched managers from undertaking acquisitions that are detrimental to shareholders. It also facilitates a smooth transition during the post-acquisition phase. We examine how independent board leadership affects M&A outcomes. Controlling for many firm, board, and CEO attributes, we find that acquirers with independent board chairpersons earn significantly higher CAR around M&A announcements. The positive effects of independent board chairpersons are more pronounced in acquirers with high monitoring needs. The boards led by independent chairpersons primarily add value by selecting targets with high synergetic gains, avoiding overpaying for targets, and facilitating smooth transition in the post-acquisition phase.

Determinants of successful mergers and acquisitions in China: evidence from machine learning

Based on mergers and acquisitions data from Chinese firms listed on the Shanghai and Shenzhen stock exchanges spanning 2011 to 2021, we construct a dataset with 14 feature variables, covering deal characteristics, firm financial and non-financial traits, as well as external environmental factors. Employing machine learning techniques and Shapley Additive explanations value interpretation, we access the contribution of these variables for explaining the success or failure of M&A transactions. Our results highlight the superior performance of machine learning models, particularly the Gradient Boosting model and Random Forest model, compared to the traditional logistic model in predicting the success of M&A transactions. This holds true in both out-of-sample and out-of-time testing scenarios. Deal characteristics, especially the use of stock payments, emerge as pivotal determinants affecting M&A outcomes in the Chinese capital market, with a higher vulnerability to failure. The complexities arising from a politically uncertain environment magnify the intricacies of transactions, thereby increasing the likelihood of M&A failures. Interestingly, our analysis reveals the insignificance of market response in predicting the ultimate success of announced transactions, aligning with the Efficient Market Hypothesis. Furthermore, we identify an interactive effect involving the payment method of M&A, transaction size, and policy uncertainty. This study provides valuable insights into critical determinants of M&A transactions, offering strategic guidance to enhance success likelihood and facilitate sustainable corporate development in the future.

Merger & Acquisition - A Win-win Situation or a Paradox

This quote would definitely now have two schools of thought. With the world witnessing such a variety of mergers and acquisitions, this dissertation is aimed at showcasing different types of mergers and acquisitions, their synergies, and what led to their success or led them into a deeper mess. The chapters would be containing detailed case studies that show how a few factors play a major role in the success or failure of mergers and acquisitions. A merger is defined as the combination of two or more companies into a single company where one survives and the other loses its corporate existence. The survivor acquires the assets as well as liabilities of the merged company or companies. Whereas, Acquisition/ Takeover refers to purchase of majority stake (controlling interest) in the share capital of an existing company by another company. It may be noted that in the case of takeover although there is change in management, both the companies retain their separate legal identity. A merger occurs when two separate entities combine forces to create a new, joint organization. Meanwhile, an acquisition refers to the takeover of one entity by another. Considering the above background, the present study is watchfully carried out to appraise the significance of how a merger and acquisition could either do wonders or lead to the very end of the company. In this report I’ll be covering the Basics of Mergers and Acquisition right from the meaning to the various types of Mergers and Acquisition available in the market. The need for Mergers and Acquisition, the aftermath and the case studies of a variety of Mergers and Acquisition.

The Determinants on the Success of Mergers and Acquisitions

The Determinants on the Success of Mergers and Acquisitions

Integrating qualitative and quantitative data for predicting merger success

Integrating qualitative and quantitative data for predicting merger success

The Importance of Leadership and a Global Human Resource Perspective: The Case of Executive Management During a Hotel Merger

This case study highlights the importance of leadership employed by executive management during the merger of Oyster Rock Resorts and the Point Breeze Hotel. The study investigates the global perspectives and analytical detail required for a successful merger that benefits all stakeholders primarily from a human resources perspective. Illumination of prevailing human resource related merger issues and analysis of specific operational challenges expose students to many problem-solving situations that parallel current human resource conditions in the hospitality industry.

Identifying the Factors Affecting the Successful Merger of Iranian State Organizations: Based on Thematic Analysis Approach

Identifying the Factors Affecting the Successful Merger of Iranian State Organizations: Based on Thematic Analysis Approach

The influence mechanism of industrial policies on Chinese companies' cross-border M&A decision-making

This study explored the potential links between Chinese industrial policy and cross-border mergers and acquisitions by Chinese firms from 2009 to 2019. Based on describing China's industrial strategy and evaluating the then-current situation of Chinese enterprises' cross-border mergers and acquisitions, this empirical study constructed a two-way fixed-effect panel model and an intermediate effect model to assess the mechanism of industrial policy's influence on Chinese enterprises' cross-border mergers and acquisitions decisions. The findings were as follows: (1) Industrial policy could promote the implementation of cross-border mergers and acquisitions of Chinese enterprises; (2) By easing financial restrictions, industrial policy could improve firms' access to capital and encourage cross-border mergers and acquisitions. (3) Industrial policies could promote the high political relevance of state-owned enterprises, thus promoting the success of transnational mergers and acquisitions of enterprises. Therefore, it was significant to promote the transformation of industrial policy from subsidy-oriented to performance-oriented and rationally evaluate the risks and benefits of M&A for enterprises to complete cross-border M&A.

An Analysis of Cyber Threat in the Merger and Acquisition Process and the Role of Cyber-security for a Successful Merger

Businesses are increasingly giving cybersecurity the attention it deserves to facilitate successful mergers and acquisitions. Cyber security due diligence is not only essential for just the acquiring company. Excellent cybersecurity benefits both sides of the M&A process. A clean bill of health concerning cybersecurity can make a target firm more attractive, and cybersecurity best practices on both ends make for a smoother, more secure transition period. This Research paper analysis the major cyber threat possible in Merger and Acquisition cases and provide deep understanding of the cyber risk in merger deals, the role of due diligence in Cyber Security and migration strategies for Cyber Risk in merger. This paper concludes that cybersecurity is a critical consideration in the M&A process, with data breaches and cyber threats posing significant risks to both acquiring and target companies. By adopting a proactive and multi-layered approach to cybersecurity, businesses can mitigate risks, protect sensitive data, and foster a smooth post-merger integration. Prioritizing cybersecurity throughout the M&A lifecycle is essential in today's digital landscape to safeguard against evolving cyber threats.

Risk Assessment Analysis for the Merger of Online Platform Companies

The risks connected to the merger of Company X and Y, a well-known online platform company, are examined in this research, along with suggestions for efficient risk management tactics. The study identifies potential risks like revenue loss, increased debt, compliance with regulations, conflicts between corporate cultures, and data privacy issues. The research suggests strategies to reduce the identified risks and guarantee a successful merger process after thoroughly analyzing these risks. The recommendations cover the creation of strong risk management strategies, efficient coordination and communication between the merging businesses, retention of key personnel, implementation of data privacy measures, proactive risk management of legal and regulatory risks, market monitoring, and ongoing evaluation and updates of risk management plans. By putting these suggestions into practice, Company X and Y can successfully manage risks, reduce potential negative effects, and position itself for long-term success in the phase following the merger. This research makes a contribution to the field of risk management in the context of corporate mergers by offering insightful information for businesses engaged in mergers and acquisitions.

Making an M&A work: equal strategic partnerships smooth the path

PurposeBy providing equal weight to buyers and sellers, the purpose of this paper is to enhance our understanding of the determinants underlying successful mergers and acquisitions (M&As) involving a specific segment of firms involved in such undertakings, i.e., knowledge-intensive innovative and entrepreneurial (KIE) firms.Design/methodology/approachA multiple case study, based on eight semi-structured interviews with CEOs representing acquirers and the acquired firms, investigates the focal phenomenon this study addresses.FindingsThe results suggest that knowledge-intensive, innovative and entrepreneurial firms promote entrepreneurial intentions and allow value creation of M&As through four overarching measures. These are buyer–seller fit, aligned incentives, long-term thinking and perpetual alliance.Research limitations/implicationsThe outcomes of this research may have limited generalizable due to the chosen research methodology. Therefore, this study recommends future studies testing the validity of these findings.Practical implicationsThe authors have clarified the drawbacks of integration when being involved in M&As with KIE firms. These drawbacks primarily revolved around not eliminating the entrepreneurs’ autonomy and their routines, but it is also partly related to letting them keep their identity (i.e. their brand) as well as retaining employees’ trust in the new owner.Originality/valueContrary to most papers, this study has taken an approach giving equal weight to both buyers and sellers. In doing so, this study clarified the drawbacks of integration when it involves M&As with KIE firms.