Dissertations / Theses on the topic 'Consolidation and merger of corporations – Canada – Management'
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Wübben, Bernd. "German mergers & acquisitions in the USA transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2007. http://dx.doi.org/10.1007/978-3-8350-9469-7.
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Curfs, Steven Willem. "A comparative analysis of the regulation of mergers in Canada and the European Union /." Thesis, McGill University, 2005. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=82657.
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Merger review has gained in importance in both Canada and the European Union since the enactment of the Competition Act in 1986 and the Merger Regulation in 1989 respectively. The increase in international trade and the globalization of the world economy have forced both jurisdictions to reform the relevant provisions of their Competition law as concerns mergers in order to keep pace with these rapid changes.The thesis offers a thorough description of the current merger review laws in both systems, and the proposed amendments under consideration in Canada and the EU. In the last chapter, the author compares both procedures and comes to the conclusion that, notwithstanding certain differences in objectives and perception, merger regulation in both systems seems to flow along the same lines. Canada does, however, hold a (lonely) special position as far as the 'efficiency defence' is concerned.
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Alford, Wayne Stanley. "The firm, take-overs, and directors' duties : a theory of the firm and the duties imposed by law and the directors of an offeree corporation /." Thesis, National Library of Canada = Bibliothèque nationale du Canada, 1997. http://www.nlc-bnc.ca/obj/s4/f2/dsk3/ftp05/mq22699.pdf.
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Wubben, Bernd. "German mergers & acquisitions in the USA transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2006. https://www.lib.umn.edu/slog.phtml?url=http://www.myilibrary.com?id=134436.
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Wübben, Bernd. "German mergers & acquisitions in the USA : transaction management and success /." Wiesbaden : Dt. Univ.-Verl, 2006. http://www.myilibrary.com?id=134436.
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Smistad, Rikard Englund. "An examination of the collusion hypothesis using Canadian horizontal mergers." Thesis, University of British Columbia, 1985. http://hdl.handle.net/2429/24405.
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The objective of this thesis is to examine the traditional structure-conduct-performance (SCP) paradigm as it applies to current Canadian merger policy and to Canadian merger activity during the period January 1964 to December 1983. The SCP paradigm postulates that with increasing industry concentration there will be increased incentives for firms within the industry to engage in anti-competitive, collusive behavior. Since successful collusion increases product prices, the SCP paradigm implies that horizontal mergers, which by definition increase concentration, will generate increased industry-wide profits. Thus, horizontal mergers should benefit not only the merger participants, but also the product market rivals of the merging firms.
This hypothesis is examined using a sample of Canadian horizontal mergers in oil and gas, mining and manufacturing industries and a "control" sample of non-horizontal mergers taking place in the same industries. The results do not support the collusion hypothesis postulated by the SCP paradigm but are consistent with the theory that Canadian mergers are motivated by perceived economic efficiencies.Business, Sauder School of
Graduate
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Hanisch, Alexandra. "The use of defensive measures in hostile takeovers : a comparative study of takeover regulation in the US, the UK, Canada, the EU and Germany." Thesis, McGill University, 2002. http://digitool.Library.McGill.CA:80/R/?func=dbin-jump-full&object_id=78216.
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This Master's Thesis is a comparative study of the regulation of defensive measures in hostile takeovers. It consists of two main parts: In the first, the subject is approached from a theoretical point of view. The relevant factors for the regulation of defensive measures are outlined and analysed, followed by a discussion of the different ways of drafting such rules. This part concludes with a proposition concerning the most favourable form and content of a regulation. The second part describes hostile takeover regulation in the US, the UK, Canada, the EU and Germany, showing the diversity in that field of regulation in practice and the underlying reasons. It highlights and assesses the characteristics of each country and its regulation in the light of the considerations made in the first part, and provides an outlook concerning the future development of the regulation of defensive measures in hostile takeovers.
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McKee, Michelle G. "A case study in management strategies and concerns in running a radio cluster." Instructions for remote access. Click here to access this electronic resource. Access available to Kutztown University faculty, staff, and students only, 2002. http://www.kutztown.edu/library/services/remote_access.asp.
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Thesis (M.S.)--Kutztown University of Pennsylvania, 2002.Source: Masters Abstracts International, Volume: 45-06, page: 2715. Typescript. Abstract precedes thesis as preliminary leaf i. Includes bibliographical references (leaves 141-144).
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Hoffmann, Nils. "German buyouts adopting a buy and build strategy : key characteristics, value creation and success factors /." Wiesbaden Gabler, 2005. http://d-nb.info/982686277/04.
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Mati, Mongezi. "Rationalisation of business processes to create a unified information systems portfolio in a merger: a case study of a financial institution." Thesis, Cape Peninsula University of Technology, 2016. http://hdl.handle.net/20.500.11838/2412.
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Thesis (MTech (Information Technology))--Cape Peninsula University of Technology, 2016.The failure to rationalise business processes and Information Technology (IT) systems inhibits the ability of organisations to capitalise and create synergies for a merger. Rationalisation of business processes to create a unified Information Systems (IS) portfolio plays a significant role in the success of a merger. The synergies of a merger are entrenched in the rationalisation business processes where the creation of a unified IS portfolio becomes vital. The consolidation of business units performing similar business functions in a horisontal merger creates a negative physiological environment to those affected by the change. A case study of a merged financial institution was conducted where the research explored factors affecting the rationalisation of business processes and IT systems when business units merge. The research questions to explore the factors are: 1) What are the factors affecting the business process and IT systems rationalisation when business units merge? 2) How does the rationalisation of business processes affect the IT systems in the merged financial institution?Politics and cultural differences are among the challenges experienced during the rationalisation process in the merged financial institution. Collaboration among professionals is important to ensure the success of IS implementation, thus corporate executives need to identify cultural differences during the pre-merger stage. The IT system chosen to consolidate legacy mainframe systems did not align with the organisation’s client centric strategy. Alignment can be strengthened by the collaboration of business and IT to ensure a common vision is achieved.
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Wong, Fung-hing. "An HR perspective on mergers & acquisition : an AT & T case study /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B18003035.
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Hoffmann, Nils. "German buyouts adopting a buy and build strategy key characteristics, value creation and success factors /." Wiesbaden : Deutscher Universitäts-Verlag, 2008. http://dx.doi.org/10.1007/978-3-8349-9634-3.
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Meade, Nancy Margaret Lowman. "Antitakeover devices and firm performance : an empirical study using accounting measures /." Diss., This resource online, 1990. http://scholar.lib.vt.edu/theses/available/etd-08252008-162207/.
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Thomas, Maricelle Casquejo. "A study of strategies for successful enterprise resource planning implementation in a merger and acqusition environment." CSUSB ScholarWorks, 2007. https://scholarworks.lib.csusb.edu/etd-project/3267.
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This project will be focusing on the business problem of integrating information systems within a M & A organization, in this case to a SAP platform. SAP is the platform the parent company uses to run its corporate business functions.
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Lin, Suzanne Ching-Fang. "Agency costs of free cash flow and the market for corporate control." University of Western Australia. School of Economics and Commerce, 2006. http://theses.library.uwa.edu.au/adt-WU2006.0042.
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[Truncated thesis] This thesis investigates the relevance of Jensen’s (1986) free cash flow theory to the market for corporate control in Australia. Jensen posits that firms generating cash in excess of that required to fund positive NPV projects face greater agency problems as the free cash flow exacerbates the conflict of interest between shareholders and managers. One implication from Jensen’s free cash flow theory is that firms with high levels of free cash flow are more likely to initiate takeovers that are value-decreasing. There are two practical issues in testing Jensen’s theory; first, constructing an appropriate proxy for free cash flow and secondly, identifying firms with free cash flow. These issues are addressed directly in the first of the two essays that comprise this thesis. The first essay develops and assesses the merits of four operational measures for free cash. One of them is a stock measure while the others are flow measures. The stock measure is included because previous studies have mostly used the stock measure of cash when identifying firms rich in free cash (henceforth, cash rich firms), despite that Jensen (1986) has made explicit reference to free cash flow. We test the validity of this approach by investigating whether stock measures of free cash coincide with flow measures. Our results reveal that the stock and flow measures of free cash give rise to quite different lists of cash rich firms. This is an important empirical contribution of the thesis. Given the lack of definitive criteria for deciding which operational measure of free cash flow is most appropriate, we identify multiple sets of free cash flow firms based on the different operational measures developed. For each operational definition, two methods are used to identify cash rich firms. The first method defines a firm as cash rich if its cash variable ranks in the tenth percentile. The second method defines firms as cash rich if their cash variable value is greater than one and a half standard deviations of the value predicted by a model.
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馮錦躍(耀) and Kam-yiu Tommy Fung. "Mergers & acquisitions: management issues andstrategic implications in it organization : case study of acquisitionof Midland Bank by Hongkong Bank." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31267130.
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Muntingh, Le Roy. "The integration of Meridian Brokers (Pty) Ltd into Alexander Forbes Limited : a change process to incorporate the different cultures and management styles of these two companies to maximize the benefits of the merger." Thesis, Stellenbosch : Stellenbosch University, 2001. http://hdl.handle.net/10019.1/52542.
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Thesis (MBA)--Stellenbosch University, 2001.ENGLISH ABSTRACT: This project examines the implications of a merger of two companies, Alexander Forbes Limited and Meridian Brokers (Pty) Ltd. The emphasis of the study is the identification of the differences in corporate culture between the two organisations, and having done this identification, the selection of the change process required to facilitate the smoothest possible integration of the two companies. In the first instance the project research methodology is explained. The method of information gathering is done by means of questionnaires. Three major models which have been specifically designed to extract the necessary information are used in the project, namely the Beehive model, the Growth Curve model and the VISA model. Furthermore, the models to be used to drive the change process are also described in this initial stage. These models are the ESP of change and the ROP. During the next stage of the project the analyses of the data is done. The data is then compared in order to show certain differences between the cultures and management styles of the two organisations. The major differences between the two companies are then highlighted in graphic form to show where the emphasis must be laid during the change process, in order to create a new culture going forward. The final stages of this study project refer to the recommended change process for the integration. The emphasis here is to highlight what specific actions need to take place so that the new Alexander Forbes group can be an even stronger force to be reckoned with by becoming a globally competitive insurer. In conclusion the study project examines whether it has fulfilled its objective as set out initially, and whether there is cause for any other further study in this regard in the future.
AFRIKAANSE OPSOMMING: Die projek ondersoek die implikasies van 'n samesmelting van twee maatskappy, Alexander Forbes Beperk en Meridian Brokers (Edms) Bpk. Die doel van die studie is die identifikasie van die verskille in korporatiewe kultuur tussen die twee oorspronklike en deur die identifikasie te doen, die seleksie van die veranderingsproses vereis om die beste moontlike integrasie tussen die twee maatskappye to bewerkstellig. In die eerste plek word die projeknavorsingsmetode verduidelik. Die metode om inligting te versamel word gedoen deur vraelyste. Drie hoofmodelle, naamlik die Beehive model, die Growth Curve model en die VISA model, wat spesifiek ontwerp is om die nodige inligting te trek, word in die projek gebruik. Verder, modelle wat ook gebruik word om die veranderingsproses te dryf, word hier beskryf. Hierdie modelle is die ESP en die ROP. Gedurende die volgende fase van die projek word die analise van die data gedoen. Die data word dan vergelyk om sekere verskille tussen kulture en bestuursstyle van die twee maatskappye te wys. Die hoof verskille tussen die twee maatskappye word dan uitgewys in grafiese vorm om te wys waar die beklemtoning gelê moet word gedurende die veranderingsproses, om 'n nuwe kulturele vooruitgang te skep. Die finale stappe van die studie projek verwys na die aanbevele veranderings proses vir die integrasie. Die doel hier is om te beklemtoon watter spesifieke aksies nodig is om plaas te vind sodat die nuwe Alexander Forbes groep selfs 'n sterker mag kan wees, deur 'n globale mededingende versekeraar te word. In samevatting ondersoek die studieprojek of dit voldoen het aan sy doel soos eerstens uitgestip, en of daar enige rede is om 'n verdere studie in die verband in die toekoms te doen.
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Volk, Jennifer M. "Do Investors View Excess Capacity as a Determinant of Mergers and Acquisitions in the Pharmaceutical and Biotechnology Industry?" Scholarship @ Claremont, 2010. http://scholarship.claremont.edu/cmc_theses/15.
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I examine investors’ reaction to the announcement of mergers and acquisitions in the pharmaceutical and biotechnology industry from 2002 to 2008. Over this period, investors anticipate the announcements, as demonstrated by the fact that the cumulative abnormal returns are not statistically significant. In addition, I test to determine the effect of excess capacity on investors’ reactions. From 2002 to 2004, investors do not recognize acquisitions as a response to excess capacity, as the excess capacity measures utilized have no effect on the size of the cumulative abnormal return. From 2005 to 2008, however, excess capacity measures have a positive effect on cumulative abnormal return, indicating that investors started to recognize the threat of excess capacity and acquisitions as a response to that threat.
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Al-Ghamdi, Salem Mater. "The strategic implementation of acquisitions: the impact of human resource factors on acquired firm employees' perception about acquisition success." Diss., Virginia Tech, 1994. http://hdl.handle.net/10919/40124.
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The goal of this study is to develop and test a conceptual framework of the impact of selected human factors on acquired firm lower level employees' perception toward acquisition success. The variables selected for inclusion in the framework have been identified from the following relevant literature in the (1) post acquisition integration area, (2) management area, and (3) strategy implementation area. The framework incorporates direct effects of employees' involvement in the integration process, extent of employees being informed about integration activities, and the amount of company support on employees' perceptions toward acquisition success. In addition, the level of integration has been included in the framework as a possible moderating variable.
Based on two acquisitions , made by one firm in the U. S. banking industry, the study examines the above relationships with a number of statistical techniques. These techniques includes correlation analysis, t-test, and regression analysis. Two hundred and fifty four respondents completed the study employees' questionnaire.Ph. D.
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Myeni, Wiseman Bellingham Wanda. "The impact of food and beverage mergers on the shareholder value with specific reference to South Africa." University of South Africa, 2007. http://hdl.handle.net/10500/62.
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This study is aimed at investigating the effect of mergers and acquisitions on the share
prices and dividends involving South African companies in the food and beverage
industry.
A sample of 79 mergers from 1999 to 2005 was used. The data was analysed using the
event study methodology and descriptive statistics. In addition, the paired t-test was also
conducted to test the significance of the results. The results were presented using graphs,
tables and charts.
The results showed that target companies obtained negative abnormal returns during the
announcement of mergers while acquiring companies on the other hand received positive
abnormal returns. The results imply that it can no longer be generalized that target
companies always win and acquiring companies lose during the merger activity.
On the other hand, the dividends for target companies increased significantly after the
merger, while the dividends for acquiring companies remained insignificantly negative
after the merger.Graduate School of Business Leadership
MBL
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Scholtz, Johan F. "Developing a practical approach to identify, select, design and manage strategic alliances." Thesis, Stellenbosch : Stellenbosch University, 2002. http://hdl.handle.net/10019.1/52760.
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Thesis (MBA)--Stellenbosch University, 2002.ENGLISH ABSTRACT: This Study Project attempted to understand and analyse the key elements of strategic alliances in order to develop a practical model and structured approach for business to successfully justify, identify, assess, select, implement and manage alliances that will create maximum value for all parties involved and enhance the likelihood of alliance success. The objective was to obtain an end-ta-end and integrated picture of how to successfully apply strategic alliance as a business tool in today's dynamic and challenging business environment. The study showed that companies of today are facing an overwhelming number of external and internal challenges and pressures. These challenges are putting increased pressure on companies' resources, skills, management and other capabilities to develop new strengths and deliver products and services quicker and at a lower cost. Traditional methods of addressing these challenges, such as internal resource development or acquisition of a business that possesses the required capabilities, are proving to be inadequate and often force companies to sacrifice essential elements such as: speed to market, organisational agility and control. Strategic alliances offer an alternative. Strategic alliances can offer significant advantages for companies who are lacking in particular competencies or resources by securing these through links with partners who possess complementary skills or assets and may also offer easier access to new markets and opportunities for mutual synergy and learning. Alliances will avoid the permanency of strategies such as mergers and acquisitions and enable two-directional exchange of resources and competencies as apposed to the pure financial nature of outsourcing. The first step in the alliance process is the formulation of the alliance strategy. The alliance strategy will dictate which partner and alliance form is most appropriate, what the company expects to get out of the alliance and how risks will be managed. The alliance strategy is a building block or extension of the corporate strategy and must be aligned with the mission, goals and objectives that were set by the strategic process. The formulation of the alliance strategy must be based on an analysis of the external market circumstances and the company's internal resources and competitive capabilities. By defining an alliance strategy the company ensures that all alliances-related activities are consistent and structured. Once the strategic alliance strategy, objectives and format has been determined the company can start to identify and select a partner that has got the ability and competency that is required by the alliance and at the same time has got a similar need to be involved in the alliance. Partner selection requires a structured process to ensure that the alliance strategy and selected form is translated into and represented by key business attributes or areas that are affected by the alliance. The organisation must be clear about what its strategic objectives are and what the partner profile is it is looking for. These objectives are linked to criteria or requirements that the potential partner must comply to, in order to meet the alliance objectives. The partners are now ready to determine how each organisation will engage with the other to reach common objectives of the alliance. This is achieved through a process of negotiation and work definition. The negotiation is 'non zero-sum based' which means that one company's gain is not at the loss of the other company. The alliance business plan is developed during this stage and acts as the blueprint of the future alliance operations. During this stage it is crucial that the leadership of the two companies is actively involved and visible in the process. Managing strategic alliances introduces a complex combination of new management challenges that often need to be coordinated and addressed. It is the alliance management's responsibility to establish a relationship of trust between the companies, address cultural issues and ensure that there is a continuous process of two-way learning. These solutions and the original alliance agreement will however be temporary because the alliance is founded upon relationships that have a dynamic of their own and are subject to the influence of external changes bearing on the alliance, which requires that the alliance needs to transform and adapt to these changes on a regular basis. Strategic alliances are certainly not a new concept in South Africa. But the adoption rate of strategic alliances seem to be slow compared to world standards and opportunities for both local and international alliances have not been capitalised on. Alliances can enable South African companies to remove unnecessary duplication between companies, access international skills and technology, build on synergies and reach global markets in a cost effective and swift way.
AFRIKAANSE OPSOMMING:Die doel van hierdie Studie Projek was om die sleutelkomponente van strategiese alliansies te ontleed en te verstaan om sodoende 'n praktiese model en gestruktureerde benadering vir besigheid te ontwikkel om alliansies suksesvol te kan regverdig, identifiseer, analiseer, selekteer, implementeer en bestuur om maksimum waarde vir alle partye betrokke te skep asook die alliansie se waarskynlikheid van sukses te verhoog. Die doelwit was om 'n geintegreerde end-tot-end beeld te verkry van hoe om strategiese alliansies suksesvol aan te wend as 'n besigheidsgereedskapstuk in vandag se dinamiese en uitdagende besigheidsomgewing. Die studie het gewys dat besighede van vandag 'n oorweldigende aantal eksterne en interne uitdagings en druk moet verwerk. Hierdie uitdagings sit toenemende druk op maatskappy hulpbronne, vaardighede, bestuur en ander bevoegdhede om nuwe sterkpunte te ontwikkel en produkte en dienste vinniger en teen laer koste te verskaf. Tradisionele metodes hoe om hierdie uitdagings te adresseer soos interne hulpbronontwikkeling of aanskaffing van 'n besigheid wat die nodige bevoegdheid besit, is bewys om onvoldoende te wees en forseer maatskappye gereeld om essensiële elemente soos: tyd na die mark, organisasie buigbaarheid en beheer op te offer. Strategiese alliansies bied 'n alternatief aan. Strategiese alliansies kan maatskappye wat 'n tekort het aan spesifieke vaardighede of hulpbronne, betekenisvolle voordele bied deur middel van 'n skakel met 'n vennoot wat oor komplementerende vaardigehede en hulpbronne beskik asook makliker toegang gee tot nuwe markte en geleenthede gebasseer op sinergië en kennis uitruil. Alliansies sal die permanentheid van strategië soos samesmeltings en aanwendings vermy en maak tweerigting uitruil van hulpronne en vaardighede moontlik teenoor the suiwer finansiële natuur van besigheid uitfaseer. Die eerste stap in die alliansie proses is die formulering van die alliansie strategie. Die alliansie strategie sal dikteer waarom een vennoot en alliansie vorm beter is as enige ander beskikbare opsie, wat die maatskappy verwag om uit die alliansie te kry en hoe risiko's bestuur sal word. Die alliansie strategie is 'n bou blok of verlenging van die korporatiwe strategie en moet belyn wees met die missie en doelwitte wat bepaal is gedurende die strategiese proses. Die formulering van die alliansie strategie moet gebasseer wees op 'n analiese van die eksterne markomstandighede en die maatskappy se interne hulpbronne en kompeternde vaardighede. Die definering van die alliansie strategie verseker dat alle alliansie-verwante aktiwiteite konsikwent en gestruktureerd gedoen word. Sodra die strategiese alliansie strategie, doelwitte en alliansie formaat bepaal is kan die maatskappy begin om 'n vennoot te identifiseer en te selekteer wat beskik oor die vermoë en vaardigehede wat benodig word deur die alliansie en terselftertyd ook 'n soortgelyke behoefte het om betrokke te raak by die alliansie. Vennootseleksie vereis 'n gestruktureerde proses om te verseker dat die alliansie strategie en geselekteerde form omgeskakel word in 'n en verteenwoordig word deur sleutel besigheidskenmerke of areas wat geaffekteer word deur die alliansie. Die besigheid moet duidelik wees oor wat die strategiese doelwitte is en wat die vennoot profiel is wat verlang word. Hierdie doelwitte word verbind aan kriteria of vereistes waaraan die voornemende vennoot moet voldoen om te verseker dat die alliansie doelwitte bereik word. Die venote is nou reg om te bepaal hoe elke organisasie met die ander sal handel om sodoende die ooreengekome doelwitte van die alliansie te bereik. Dit sal bereik word deur 'n proses van onderhandeling en werk definisie. Die onderhandelinge is nie gebasseer op wen en verloor nie, wat beteken dat een maatskappy se wins is nie die ander maatskappy se verlies nie. Die alliansie besigheidsplan word ontwikkel gedurende hierdie fase en dien as 'n uitleg vir die toekomstige alliansie funksies. Dit is krities dat die maatskappye se leiers aktief betrokke raak by die proses op hierdie tydstip. Die bestuur van strategiese alliansies stel bekend 'n komplekse kombinasie van nuwe bestuur uitdagings wat gekoordineer en geadresseer moet word. Dit is die verantwoordelikheid van die alliansie bestuur om 'n verhouding van vertroue tussen die organisasies te vestig, kulturele probleme te adresseer en te verseker dat daar 'n deurlopende proses van twee-rigting kennis uitruil is. Hierdie oplossings asook die oorspronklike alliansie ooreenkoms sal egter tydelik wees as gevolg van die feit dat die alliansie gebasseer is op verhoudinge wat dinamies is en afhanklik is van eksterme veranderinge wat 'n invloed het op die alliansie en vereis daarom dat die alliansie gedurig moet aanpas by die veranderinge. Strategiese alliansies is glad nie 'n nuwe konsep in Suid Afrika. Die aanneem tempo van strategiese alliansies in vergelyking met wêreld standaarde is egter heelwat stadiger en geleenthede vir beide plaaslike en internasionale alliansies is nog nie op gekapitaliseer nie. Alliansies stel Suid-Afrikaanse maatskappye in staat om onnodige duplikasie tussen mekaar te verwyder, toegang te kry tot internasionale vaardighede en tegnologie, te bou op sinergië en wereld markte te bereik in 'n koste effektiewe en spoedige wyse.
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Rohrbach, Jan. "What makes a company attractive for a takeover?, or, The effect of a target's operating characteristics on the bidder's takeover-decision." Thesis, Stellenbosch : Stellenbosch University, 2003. http://hdl.handle.net/10019.1/53718.
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Thesis (MBA)--Stellenbosch University, 2003.ENGLISH ABSTRACT: This paper examines the effect a target's operating characteristics can have on the takeover-decision of a potential bidder. Consequently, the general socioeconomic changes within the takeover market and their consequences for companies acting within this hostile environment are described and the most common economic and non-economic motives of bidders as well as several distinctive target characteristics discussed. In particular, this study identifies and subsequently analyses 28 variables viewed to be potentially relevant for a bidder's takeover-decision. In order to obtain the best possible insights into the behavior of the identified variables and their particular influence on the likelihood of getting taken over, the specific variables are empirically tested on an individual level through the application of different nonparametric techniques as well as on a combined level through the performance of a binary logistic regression analysis. The empirical examination is based on a total of 804 observations gathered by Bloomberg L.P. for the pharmaceutical and the related health care sector and covers the period from 1996 to 2002. The results of the different testing methods, although subject to certain limitations, give reason to believe that there are indeed certain factors that can make companies more interesting for potential bidders. Therefore, a regular performance of 'target-self-tests' as suggested by the author is viewed to be paramount for an early anticipation of hostile takeover attempts and a timely establishment of adequate measures of defense, which as a consequence could contribute considerably to a decrease of a company's likelihood of getting taken over.
AFRIKAANSE OPSOMMING: Hierdie studie fokus op die effek wat 'n potensiele teiken se bedryfseienskappe op die oorname besluit van die organisasie wat die oorname oorweeg, kan hê. Gevolglik word die algemene sosio-ekonomiese veranderinge in die oorname mark en hulle gevolge vir maatskappy wat daarbinne opereer, bespreek. Verder word die mees algemene ekonomiese en nie-ekonomiese beweegredes van maatskappye wat oornames oorweeg asook verskeie onderskeidende eienskappe van teikenmaatskappye, ook bespreek. In besonder identifiseer en analiseer hierdie studie 28 veranderlikes wat potensieel relevant mag wees tydens 'n oorname besluit. Ten einde die bes moontlik insig te verkry oor die gedrag van die ge-identifiseerde veranderlikes en hulle spesifieke invloed op die waarskynlikheid van 'n oorname, word nie-parametriese tegnieke toegepas om op individuele en saamgestelde vlak die veranderlikes empiries te toets. Hierdie empiriese ondersoek is gebaseer op 'n totaal van 804 observasies soos versamel deur Blomberg L.P. vir die farmaseutiese en verwante gesondheidsorgsektore en strek oor die tydperk 1996 tot 2002. Die resultate van die onderskeie toetsmetodes - gegewe sekere beperkings - dui daarop dat daar inderdaad sekere faktore is wat maatskappye meer aantreklike teikens vir 'n potensiele oorname kan maak. Gevolglik beskou die navorser dit as belangrik dat sekere 'selftoetse' gereeld gedoen behoort te word. Dit kan dien as vroee waarskuwingsein met betrekking tot die waarskynlikheid van 'n vyandige oorname; en kan die geteikende maatskappy help om tydige verdedigingsmeganismes in plek te kry ten einde die waarskynlikheid van oorname beduidend te verminder.
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Nkatsha, Thembinkosi Sydney. "Analysis of the implementation of corporate level strategy in a South Afircan furniture retailer." Thesis, Rhodes University, 2013. http://hdl.handle.net/10962/d1018272.
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[Integrative Summary] This study is situated in the complex field of change management, and strategy execution. The study focuses on the corporate level restructuring of Ellerine Holdings Limited (EHL), subsequent to its acquisition by the micro lending financial institution African Bank Investments Limited (ABIL). The interest of the researcher was aroused by the uniqueness of the relationship. This was the first of its kind in a South African context, where a banker owned a furniture retailer. The restructuring was undertaken shortly after the acquisition. This research paper adopted a case study approach, in describing the restructuring initiative that took place in EHL, focusing on the period between January 2008 and the end of 2010/ 11 financial year on the 30th of September 2011. The case captures the significant phases of the restructuring including a background of (1) the protagonist, Toni Fourie (Chief Executive Officer), (2) EHL as the researched company, (3) the industry it operates in, and (4) the case content. Brief teaching notes have been provided to explain the teaching value of the case and to assist with its delivery in the classroom. Attention is drawn to a presentation by the protagonist in November 2011, named 'A CEO Insight' where he gave an overview and insights of the road travelled in restructuring Ellerine Holdings Limited, and more importantly highlights the following about the purpose and nature of the restructuring of the organisation. • A plan to change the way the industry works. • The creation of a profitable, stand-alone retail business through: o The sale of two companies, the closure of two companies and consolidating from thirteen to six brands. o Separating financial services from retail. o Moving the financial services component to African Bank, also a subsidiary of ABIL. o Redesigning the credit model. o Completion of twelve system changes. • Over R600million reduction in cost • A place where people want to work. The restructuring outlined above represents a major shake-up in many aspects of the corporation. The main challenge for Toni Fourie and his team was: how best could they restructure EHL to extract synergies between their two subsidiaries Ellerine Holdings Limited & African Bank to increase shareholders ' value at Group level. The case seeks to describe this in detail. The overarching strategy underpinning the restructuring of the researched corporation is premised on the price volume elasticity equation, by reducing the cost of credit, thereby driving pricing down within the brands, and facilitating more people having access to affordable credit. The case study of the restructuring is presented in Section 1. A review of relevant literature on strategy implementation is presented in Section 2, focusing on restructuring. Successful implementation of strategies only takes place with structures that are developed by organisations to support the achievement of their strategic objectives. Organisational architecture and design have a critical role to play in the execution of organisational strategies. Nadler and Tushman (1978) emphasise the importance of congruence in the organisational design, for the organization to not only deliver superior results but to sustain them over a period of time. Research by Okumus (2005) seems to tell us that the lack of credible framework to implement strategy, has contributed the high failure rate of strategy initiatives. Although this is a strategy implementation case, it also touches on aspects of leadership - mainly the architectural role - and the role, or influence of strategic leadership, in restructuring the corporation. The results of this research paper were achieved by following a specific research methodology. The aim of the research was to analyse the restructuring of the researched company at corporate level, having the following objectives in mind; • Understanding the strategy. • Analysing the design decisions in the light of the strategy chosen by the top management of Ellerine Holdings Limited. • Analysing what monitoring and control measures had been designed to facilitate the corporate restructuring. Data was collected through documentation of the corporation that was made available to the researcher on request, as well as those that are in the public domain, and an interview with the CEO of the researched company. The interview was conducted after analysing the documentation (Hakim, 2000). The Methodology is detailed in Section 3. The researcher hopes that the case study will contribute to learning about business leadership and strategic management. The case should develop an understanding of the complexities related to strategy execution at corporate level, particularly the restructuring aspect of it.
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De, Sousa Vanessa Alexandre. "The impact of a merger on the motivational levels and organisational culture of amalgamated beverage industries employees in country region." Thesis, Bloemfontein : Central University of Technology, Free State, 2006. http://hdl.handle.net/11462/69.
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Thesis (M. Tech.) -- Central University of Technology, Free State, 2006In today’s dynamic and uncertain business environment, employees are required to work together to achieve a common goal. An organisation cannot survive without a highly motivated and progressive workforce. Management need to be highly innovative and adaptive, to survive the intensity of competition and change. This study is based on the conviction that enhancing and sustaining employee motivation is a manager’s major function. In effect, management need to create and maintain a culture that fosters motivation, and determine whether employees are culturally adaptable, when two established cultures merge as one. Against this background, the focus fell on attaining optimum performance and a culture that evokes a spirit of co-operation and is conducive to motivating employees to work willingly and effectively. The Amalgamated Beverage Industry was selected for the purpose of this study. The perceptions and opinions of management and that of the lower level employees were examined to determine the impact on the work motivational levels and organiastional culture within Country Region employees. A probable influence was also given on the possible factors contributing to the maintained level of organisational culture and the high motivational levels within ABI. Attention was also focused on culture change and its possible impact on employees.
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Wang, Xiaokun, and 王曉坤. "Searching for the motives and effectiveness of Chinese mergers and acquisitions." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 2007. http://hub.hku.hk/bib/B38481819.
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Knoll, Sebastian. "Cross-business synergies /." Wiesbaden : Gabler, 2008. http://d-nb.info/987653725/04.
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Beusch, Peter. "Contradicting management control ideologies : a study of integration processes following cross-border acquisitions of large multinationals /." Göteborg : BAS Publ, 2007. http://www.gbv.de/dms/zbw/548620407.pdf.
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王鳳馨 and Fung-hing Wong. "An HR perspective on mergers & acquisition: an AT & T case study." Thesis, The University of Hong Kong (Pokfulam, Hong Kong), 1996. http://hub.hku.hk/bib/B31267749.
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Fung, Kam-yiu Tommy. "Mergers & acquisitions : management issues and strategic implications in it organization : case study of acquisition of Midland Bank by Hongkong Bank /." Hong Kong : University of Hong Kong, 1996. http://sunzi.lib.hku.hk/hkuto/record.jsp?B17956778.
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Lawani, Uyi. "The Value of Ties: Impact of Director Interlocks on Acquisition Premium and Post-acquisition Performance." Thesis, University of North Texas, 2014. https://digital.library.unt.edu/ark:/67531/metadc500147/.
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Mergers and acquisitions (M&A) evolved as alternative governance structures for firms seeking to combine resources with other firms, access larger markets, or acquire strategic assets. In spite of managers’ enthusiasm about the practice, studies show mixed results regarding post-acquisition performance of acquiring firms. The impact of acquisitions on the performance of acquiring firms has therefore remained inconclusive. A few reasons for this have been suggested and recent meta-analytic research efforts indicate that studies in M&A may have ignored variables that have significant effects on post-acquisition performance. In a bid to extend the literature on M&A and identify cogent variables that impact on acquisition performance, this dissertation draws on social network theory to advance a proposition for the value-of-ties. This was done by examining the impact of directorate interlocks on acquisitions specifically and organizational strategy in general. A non-experimental cross-sectional study of 98 interlocked directorate companies simultaneously involved in acquisitions was conducted. Several multiple regression analyses were conducted and the results obtained suggest that there is a positive linear relationship between director interlocks and post-acquisition performance and that to some extent this relationship is moderated by acquisition experience. The study also showed that director interlocks have a negative linear relationship with acquisition premium. This study complements the body of knowledge on acquisitions and network theory. It also successfully combined a multi-level approach to research on organizations and strategic management.
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Soobader, Saleem Fazul-Haque. "Measuring the success of global oil and gas corporate mergers and acquisitions from a financial perspective." Thesis, Stellenbosch : Stellenbosch University, 2008. http://hdl.handle.net/10019.1/3148.
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Thesis (MBA (Business Management))--Stellenbosch University, 2008.ENGLISH ABSTRACT: Successful merger and acquisitions (M & A) from a financial perspective increases shareholder value. This paper examines the effect of corporate mergers and acquisitions (M & A) on shareholder value. A discussion on shareholder value follows with reasons why companies choose M & A as a growth strategy. The type of M & A strategy affects the value it creates. A literature review of M & A activity during the five periods in the twentieth century, referred to as merger waves, provides an understanding of the conditions which precipitate M & A activity. However, failure of companies that engage in M & A activity has not resulted in a decline in the popularity of M & A. This study identifies and subsequently analyses data (profitability ratios) on 34 upstream oil and gas companies that have engaged in M & A activity. Profitability ratios indicate the financial performance of a company and ultimately shareholder value. In order to obtain the best possible insights into the behaviour of the identified variables and their impact on shareholder value, the specific variables are empirically tested over different time periods through the application of two statistical tests performed on the data. The empirical analysis is based on a total of 324 observations gathered by Evaluate Energy for global oil and gas companies and covers the period 1995 to 2005. The results of the different testing methods, although subject to certain limitations, give reason to believe that the M & A leads to an erosion of shareholder value. Hence the appropriate reasons for embarking on an M & A strategy and the comprehensive pre-acquisition evaluation thereof, is tantamount to M & A success.
AFRIKAANSE OPSOMMING: Vanuit ‘n finansiële oogpunt kan suksesvolle samesmeltings en aanskaffings (S & A) aandeelhouers-waarde verhoog en hierdie werkstuk ontleed die effek wat korporatiewe S & A’s op aandeelhouers-waarde het. ‘n Bespreking oor aandeelhouers-waarde volg en verskaf redes waarom maatskappye S & A’s as ‘n groeistrategie verkies en hoe die tipe S & A strategie wat gevolg word die waarde wat dit skep affekteer. Gedurende die 20ste eeu was daar vyf tydperke waarin S & A aktiwiteite hoog was, die sogenaamde “merger waves” en ‘n ontleding van literatuur gedurende hierdie tydperke verskaf ‘n begrip van die omstandighede wat aanleiding gee tot S & A aktiwiteite. Alhoewel sommige S & A’s onsuksesvol is, bly dit ‘n populêre keuse by maatskappye om aandeelhouers-waarde te probeer verhoog. Hierdie studie identifiseer en analiseer data (winsgewendheids-verhoudings) van 34 “upstream” olie- en gasmaatskappye wat een of ander tyd in ‘n S & A betrokke was. Winsgewendheids-verhoudings dui op die finansiële prestasie van maatskappye en uiteindelik op aandeelhouers-waarde. Ten einde die beste insae in die optrede van die geidentifiseerde veranderlikes en hul impak op aandeelhouers-waarde te kry, is die spesifieke veranderlikes numeries getoets oor verskillende tydperke deur middel van twee statistiese modelle. Die numeriese analises is gebaseer op 324 waarnemings deur Evaluate Energy op internasionale olie- en gasmaatskappye tussen 1995 en 2005. Die uitslae van die verskillende metodes van toets, ingesluit sekere beperkings, dui daarop dat S & A’s oor die algemeen lei tot ‘n vermindering in aandeelhouers-waarde en daarom is dit van kardinale belang om ‘n beproefde S & A strategie te ontwikkel voordat ‘n S & A aangepak word.
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Karst, Rusty V. "Semiglobalization: Institutional Effects on Multilatina Cross-Border Acquisitions." Thesis, University of North Texas, 2016. https://digital.library.unt.edu/ark:/67531/metadc849693/.
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The internationalization research domain has predominantly focused on country level antecedents of firm level decisions, with particular emphasis on why certain countries are selected over others for foreign direct investment (FDI). This approach may oversimplify what actually occurs from both practical and research perspectives. Recently, MNE strategic orientation and conduct, as an outflow of a region-based localization perspective (i.e.,semiglobalization), has gained increased scholarly attention. The tradition of considering country level institutional environments may be more robustly informed by extending a paradigm which considers region-based institutions, in addition to country. Thus, in this study I examine institutional effects, as underpinned by institutional theory, on one segment of FDI decision making, cross-border acquisitions behavior, in an understudied context, Latin American MNEs (i.e., Multilatinas). Linear and mixed regression are used to test hypotheses, by examining a sample of all Multilatina CBAs exacted over a five year period (2007-2011)in targeting host country firms within eight geographic regions. Multilevel study results provide overarching support for hypotheses, that a Multilatina's internationalization into a country and region through cross-border acquisition equity participation is influenced by both country and region institutional environments. Contributions are made to the semiglobalization, cross-border acquisitions, institutions, and Multilatina literature streams through development of a more robust, multilevel perspective which more accurately captures how MNEs consider institutional environments in their international strategy and conduct.
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Hopeck, Janell Marie. "Face-to-face communication versus memo communication to announce mergers and acquisitions the importance of media richness." CSUSB ScholarWorks, 2011. https://scholarworks.lib.csusb.edu/etd-project/140.
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The purpose of this study was to examine the current research on mergers and acquisitions which includes organizational factors, such as communication processes, and their impact on employee reactions. The current study addresses this issue through a simulated M&A announcement laboratory experiment with 156 CSUSB undergraduate students.
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Low, An Chee. "Two essays in corporate finance." Columbus, Ohio : Ohio State University, 2007. http://rave.ohiolink.edu/etdc/view?acc%5Fnum=osu1186598647.
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Walters, Chrizelda, and H. D. Vos. "The role of interpersonal justice perceptions of employees during major organisational change due to a merger and acquisition." Thesis, Stellenbosch : University of Stellenbosch, 2005. http://hdl.handle.net/10019.1/14781.
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Thesis (MA)--University of Stellenbosch, 2005.103 Leaves printed on single pages, preliminary pages i- viii and numbered pages 1-132. Includes bibliography, list of tables and figures. Digitized at 600 dpi grayscale to pdf format (OCR), using a Bizhub 250 Konica Minolta Scanner.
ENGLISH ABSTRACT: The research explored the role of interpersonal justice perceptions in an organisation undergoing change. Interpersonal justice was operationalised by dividing it into two components namely, social sensitivity and informational justice. The study falls within the qualitative and quantitative paradigm. The research was conducted at a South African financial institution undergoing change due to a merger and acquisition, and comprised of in-depth interviews as well as an exploratory survey. The sample consisted of 159 employees. The results confirm those of previous research studies regarding the relationship between interpersonal justice and job satisfaction. The results also showed that a difference in the interpersonal justice perceptions of employees at different job grades exists. Interpersonal justice perceptions are likely when employees believe that they personally are treated fairly and are being adequately informed of the changes in their organisation. This is of utmost importance if one is to create a just and efficient workforce during organisational change processes.
AFRIKAANSE OPSOMMING: Die navorsing het die rol van interpersoonlike geregtigheid persepsies in 'n organisasie wat verandering ondergaan ondersoek. Interpersoonlike geregtigheid was geoperasioneel deur dit te verdeel in twee komponente naamlik, sosiale sensitiwiteit en inligtings geregtigheid. Die studie val onder die kwalitatiewe en kwantitatiewe paradigma. Die navorsing was onderneem by 'n Suid-Afrikaanse finansiele instelling wat deur organisatoriese verandering gegaan het as gevolg van 'n samesmelting. Die navorsing het bestaan uit in diepte onderhoude asook 'n ondersoek opmeetinstrument. Die steekproef het bestaan uit 159 werknemers. Die resultate van die studie ondersteun die van vorige navorsing wat betref die verhouding tussen interpersoonlike geregtigheid en werkstevredenheid. Die resultate het ook getoon dat 'n verskil in die interpersoonlike geregtigheid persepsies van werknemers op verskillende posvlakke bestaan. Interpersoonlike geregtigheid persepsies is moontlik wanneer werknemers glo dat hulle met respek en regverdigheid behandel word. Werknemers moet ook genoegsaam ingelig word van die veranderinge in die organisasie om persepsies van interpersoonlike geregtigheid te ondervind. Dit is van uiterste belang gedurende organisatoriese veranderinge om 'n doeltreffende mannekrag waar geregtigheid geld te skep.
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Peng, Sharona. "Achieving successful cross-cultural and management integration the experience of Lenovo and IBM : a thesis submitted to Auckland University of Technology in partial fulfilment of the requirements for the degree of Master of Business (MBus), 2008 /." Click here to access this resource online, 2008. http://hdl.handle.net/10292/486.
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With social structure and technology rapidly changing, business globalisation has been regarded as a worldwide trend. While there have been many cases and literature on management of culture integration for merger and acquisition from a Western perspective, few have discussed cultural integration in an Asian context. This study provides a case study of cultural integration strategies Lenovo has undertaken to manage employees from both teams after the M&A. It adopts a semi-structure face-to-face interview research method, which 5 participants were selected from the culture integration committee for interview. During the interview, each participant answered the questions from their perspective of the job position they are currently in. The method would enhance the quality of the research as it looks into the problems and strategy that Lenovo has encountered and undertaken from various points of view. However, as no employees from IBM PC-D on the committee were available to participate in the research, it might place some limitations on the research simply because IBM team’s opinions were not taken into account. After analysing the results obtained from the participants, the researcher found that there were several motives for Lenovo to acquire IBM PC-D, including: - 1) internationalization, 2) acquiring technology and skills, 3) acquiring a brand, 4) obtaining access to new customers, 5) increase bargaining position to suppliers. Among these five motives, acquiring brand was considered to be the most important motive. As Chinese product has always been marketed at the lower end of the product line with low costs and poor quality, acquiring IBM’s brand would enable Lenovo to boost its product image and to gain access to customers outside the Chinese market. In managing two teams within the organisation, Lenovo has taken very few steps to integrate two teams into one. Instead, a separate management mode was encouraged by Lenovo to allow IBM PC-D to maintain its own management system and procedures. In addition, a culture integration committee was voluntarily set up by employees from various departments to design initiatives to encourage communication between two teams. When problems arise due to the difference between two teams, Lenovo has adopted an accommodation strategy by making adjustments to the work schedule of its employee in the Lenovo team in order to accommodate employees in IBM team. As a result, it has increased the workload for staff in Lenovo team and this may thus lead to stress and work-life imbalance to its employees. Overall, the strategy that Lenovo has adopted to manage two teams seems to have worked well and the culture integration committee appears to have served well in encouraging the communication between two teams. On the other hand, as the participants in the interview were not directly involved with the designing and crafting the strategy of culture integration, that might have some limitation on the result. Therefore, it is suggested that further research can be done to capture the opinion from members that are directly involved in the design of culture integration strategy as well as teams from IBM PC-D in order to ensure a well provided empirical and consistent view.
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Dias, Jo??o Paulo Lopes. "Incorpora????es de empresas : a controladoria e o processo de consolida????o." FECAP - Faculdade Escola de Com??rcio ??lvares Penteado, 2007. http://132.0.0.61:8080/tede/handle/tede/440.
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Previous issue date: 2007-09-13This paper focus on the analysis of Controlling area role in the administrative work efforts for the consolidation phase of a company merger, by identifying and evaluating specific variants in the organizational restructuring and Managerial Accounting Systems implementation or adaptation. The research is supported by bibliographic study, through concepts around the central subject. Also is based on a consolidation case study of a worldwide leader food ingredients company, in three subsidiaries located in South America. Complementarily is applied a survey with these consolidation processes participants, focusing to reinforce and validate found evidences. The case study presents elements that try to identify and measure relevancy levels of some variants, as well as, systems operational characteristics, planning and management, resources, organizational structure, organizational culture and knowledge retention, which can be part of the company consolidation processes and put on evidence the Controlling role. Finally, the deviation of the evaluation between the subsidiaries point out to critical factors which can impact the consolidation phase, as well as, merged subsidiary structure, available investments in the subsidiary and the subsidiary administration leadership in South America.
O presente trabalho procura analisar a atua????o da Controladoria na condu????o dos trabalhos administrativos na fase de consolida????o de uma empresa, identificando e avaliando as vari??veis espec??ficas presentes na reestrutura????o organizacional e implementa????o ou adequa????o de Sistemas de Informa????es Cont??beis Gerenciais (SIG). O estudo est?? embasado em pesquisa bibliogr??fica, atrav??s de conceitua????es acerca do tema central. Al??m disso, aborda estudo de caso de consolida????es de empresa l??der mundial do ramo de ingredientes para alimentos, em tr??s subsidi??rias localizadas na Am??rica do Sul. Complementarmente, aplica-se question??rio junto a participantes desse processo, na tentativa de refor??ar e validar as evid??ncias encontradas. A abordagem deste estudo de caso apresenta elementos que procuram identificar e mensurar n??veis de relev??ncia de algumas vari??veis, tais como caracter??sticas operacionais de sistemas, planejamento e gerenciamento, recursos, estrutura organizacional, cultura organizacional e reten????o de conhecimento, que podem fazer parte do processo de consolida????o de empresas e que evidenciam o papel da Controladoria. Finalmente, as varia????es de avalia????es entre as subsidi??rias apontam fatores cr??ticos que podem impactar a fase de consolida????o, tais como, estrutura da subsidi??ria incorporada, investimentos ?? disposi????o da subsidi??ria e lideran??a administrativa da subsidi??ria na Am??rica do Sul.
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Eazell, Diane Patricia. "Justification for a credit union to charter a bank." CSUSB ScholarWorks, 2000. https://scholarworks.lib.csusb.edu/etd-project/1642.
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Chiu, Hung. "Post-merger integration strategies : an integration process perspective." 2007. http://arrow.unisa.edu.au:8081/1959.8/50767.
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Lung, Yun-Jye. "Risk assessment and post-merger integration : issues and research agenda ; Perceptions and attitudes towards risks arising from post-merger integration ; Literature survey of risk management of post-merger transition projects." 2007. http://arrow.unisa.edu.au:8081/1959.8/78838.
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Mergers and acquisitions (M&A) for business can be regarded as a risk-taking activity for a growth company. So, this study adopts a behaviour-oriented risk management approach to examine failure risks arising from the M&A in the Taiwan context. Risk communication strategy is a major tool of that approach. In order to communicate risks arising from M&A to employees, furthermore, to achieve a successful post-merger integration, this study identifies a variety of risks from the post-merger integration, examines the differences between risk estimation and risk evaluation, and investigates a number of risk communication strategies for the target case by use of a questionnaire survey. Meanwhile, this thesis also investigates risk management on the post-merger transition structure.Thesis (DBA(DoctorateofBusinessAdministration))--University of South Australia, 2007
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"Post-merger management in the advertising industry : a Zimbabwean example." Thesis, 2003. http://hdl.handle.net/10413/2762.
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The Zimbabwean economy had reached historically low levels in terms of its performance. Coupled with this, the country's volatile political environment saw many once prosperous business ventures struggling for survival. One of the immediate options followed by many organisations was the undertaking of mergers with similar or related companies in a bid to ensure continued growth. Among the hardest hit industries by the economic decline was the advertising industry. In order to maintain its market dominance, the Ogilvy and Mather group of Zimbabwe (comprising Barker McCormark and CM & A) embarked on discussion with a smaller rival, Carroll O'Donovan Hardy TBWA. The discussions would culminate in a merger of the three agencies in September 2001. From the onset the merger was characterised by a series of staff resignation particularly from Carroll O'Donovan Hardy and CM & A. In addition, existing clients began to complain about the handling of their business. The study will examine the causes for these grievances and assess the impact of the group's post merger strategies aimed at consolidating the merger. It will examine the group's capability at maintaining the sustainable growth that was envisaged at the time of merger. An assessment of whether post merger strategies at Ogilvy and Mather Zimbabwe are successful in terms of their impact on employee and customer retention will be conducted. Based on the findings, a best case scenario will be mapped out so as to ensure Ogilvy and Mather maintain their market dominance of the advertising industry in Zimbabwe The next chapter will develop a theoretical framework for strategies aimed at successful post merger management. This framework will be used to analyse the effect of the merger at Ogilvy and Mather and provide guidelines on the best way possible in a post merger environment of its nature.Thesis (MBA)-University of Natal, 2003.
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Mokoena, Pinkie Lucia Jennifer. "Cleaners' perceptions of the pending municipal merger in the west rand." Thesis, 2018. https://hdl.handle.net/10539/26021.
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A report on a research study presented to
The Department of Social Work
School of Human and Community Development
Faculty of Humanities
University of the Witwatersrand
In partial fulfillment of the requirements
for the degree Master of Arts in Social Work
January 2018When change is introduced in the workplace, marginalized employees may develop a negative attitude towards the process due to ignorance and fear. The study aimed to explore the cleaning staffs’ perceptions on the municipal pre- mergers between two West Rand Municipalities. The focus study was to explore the cleaning staff members’ emotions and reactions towards the merger before it was to be implemented specifically focusing on their perceptions around job security, job responsibility, and communication. There is currently little research done on pre-mergers, especially between political organizations. The research followed a qualitative approach in a form of a case study. Face to face interviews were conducted with seventeen (17) cleaning staff from two Municipalities to collect data utilizing a self – developed, semi structured interview schedule. Sampling was done using a non-probability convenience sampling method. These employees are usually marginalized and have limited if any decision making powers in their working space. The data was analysed utilizing thematic analysis. The findings identified that even the most marginalized of employees could have an impact on change processes based on several factors and there is a relationship between a previous workplace change experience and a new one. The study transformed into a comparative study as marked differences emerged because one of the Municipalities had been through a merger previously and it had a different impact as compared to those who had not gone through the merger process previously. The findings revealed that communication strategies impact on the perceptions of all levels of employees regardless if they participate in the planning process of any organisational change process or not. Open communication and constant consultation by an employer was found to inspire employees to do well because they become confident of their future within the organization. The research findings carve a way to future pre- merger studies with deeper insight into the usually marginalized groups in the workplace.
MT 2018
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"A comprehensive, holistic people integration process for mergers and acquisitions." Thesis, 2012. http://hdl.handle.net/10210/5992.
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D.Comm.The purpose of this study was to build a comprehensive, holistic people integration process model for people integration during mergers and acquisitions (M&As). M&As is a popular and frequently used strategic initiative by organisations to grow their business. It has been estimated that 80% of M&As are unsuccessful in producing any shareholder value. In many cases lack of culture integration, a people aspect, is mentioned as one of the main reasons for M&A failure. Poor people integration during M&As is thus a major cause of M&A failure and motivated this research. The research objective was firstly, to build a model from current best practice in the M&A field. In building this model (Model P) inputs were received during interviews from experts and practitioners in the M&A field. The second research objective was to build a theoretical model (Model T) based on an in-depth literature review. The third research objective was to verify Model T with experts and practitioners in the M&A field. A questionnaire was distributed to experts and practitioners in the M&A field. The findings from the verification process were integrated with the findings from a comparison between Model T and Model P and a final model (Model TP) was built. The last research objective was to apply Model TP to two case studies in order to demonstrate the practical use of Model TP. The research process was completed upon arriving at Model TP and illustrated its practical use in the M&A field. The overall conclusion in the study was that the main difference between Model T and Model P turned out to be in the model design. Model T was based on an organic model design whereas Model P had a linear design. An organic model design was also chosen for Model TP. The reasons for choosing an organic model design were that this design emphasised the complex interrelationships and dynamic tension of the building blocks within the people integration model. That means that a change in any of the building blocks would impact on the other elements of the model. The contents of the models, i.e. the actual building blocks of the practice model and the theory model, were very similar. This implies that experts and practitioners in the M&A field have the necessary knowledge of what a successful people integration process entails. A comprehensive, holistic people integration process may not have been documented academically, but practitioners do have the knowledge of effective integration of people during M&As.
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Mafihlo, Napo. "Reasons for failure in mergers and acquisitions." Thesis, 2006. http://hdl.handle.net/10413/1245.
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Embraced in this study, is the content and structural approach on how corporate mergers and acquisitions should be planned and executed to facilitate post-acquisition synergies and improvement in customer service levels. The project covers Saambou bank post-acquisition business failure after take-over by First Rand Group, in a horizontal integration process that did not diversify or restructure product or service offerings between the two banks. There being no positive impact on post-acquisition market share and competition sustainability by the two banks, it implied that, the post-acquisition strategy did not adequately address the business risk factors that ultimately impaired the expected synergies of a take-over bid. Lack of proper post-acquisition business plan resulted in corporate failures pertaining to ineffective competitive strategies, non optimization of market and service levels, compounded by poor corporate governance resulting in the bank's internal control procedures and processes failing. Furthermore, poor customer service levels and transgression of the Bank's Usury Act regulations, rendered the organization more uncompetitive. The over-reliance on few large corporate customer deposits added a huge element of financial risk that marginalized Saambou bank's going concern prospects. Hence, upon experiencing few large corporate deposit withdrawals, for instance by Investec, resulting in the bank undergoing liquidity problems that resulted in it being placed under curatorship.Thesis (MBA)-University of KwaZulu-Natal, 2006.
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Carayannopoulos, Sofy. "Sourcing knowledge : collaboration, firm acquisition and the knowledge-based view of the firm /." 2005. http://wwwlib.umi.com/cr/yorku/fullcit?pNR11555.
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Thesis (Ph.D.)--York University, 2005. Graduate Programme inTypescript. Includes bibliographical references (leaves 208-222). Also available on the Internet. MODE OF ACCESS via web browser by entering the following URL: http://wwwlib.umi.com/cr/yorku/fullcit?pNR11555
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Maharaj, Chandradeep. "The valuation of the management buy-out of an unlisted company : (a case study)." Thesis, 2003. http://hdl.handle.net/10413/3871.
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This research is a 'case study' analysis on Flint Construction cc, which has undergone a management buy-out. Flint Construction cc specializes in the construction and restoration of surface and underground rail systems, the sale and purchase of perway materials (rails, sleepers, etc) and general civil engineering construction. The objective of the study is to determine the value of Flint Construction cc using the relevant valuation techniques discussed in the literature. Different valuation techniques are analyzed and utilized in order to ascertain the value of the business at the time of the buyout. These include using models such as Price-earnings (earnings valuation model), balance sheet valuations (assets valuation model), discounted free cash flows model (DFCF model), and the economic value-added model (EVA model). This study is a 'case study' and is limited to Flint Construction cc, and we therefore cannot generalize. Further, the study is conducted on an unlisted company, and it is difficult to obtain information, which is not publicly available. Other unlisted companies would probably be reluctant to disclose financial information. However, an interview was conducted to obtain data on strengths, weaknesses, opportunities, threats, subjective risk adjustments and perceptions of Flint Construction cc which were used in the valuation using PIE ratios, estimation of future cash flows and the EVA method. The Price-earnings (earnings valuation model), discounted free cash flows model (DFCF model), and the economic value-added model (EVA model) reveal that the business was sold at a 'fair' value of R3 million. The range for Flint Construction cc obtained from the different valuation methods excluding the net asset value method was from R2,450,403 to R3,I06,880. A further study can be undertaken to see what happens to company value after a buyout and whether shareholder value is created.Thesis (MBA)-University of Natal, Durban, 2003.
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Mansumitrchai, Somkiat. "Corporate diversification and the effects of firm characteristics on diversification modes U.S., European and Japanese firm behavior /." 2000. http://catalog.hathitrust.org/api/volumes/oclc/50266650.html.
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Bosch, Aletta. "The effect of a merger in higher education on staff members: the importance of change management." Thesis, 2008. http://hdl.handle.net/10210/699.
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The National Commission on Higher Education (NCHE) submitted its final report in 1996 to the then President Nelson Mandela, which argued for the creation of a single, co-ordinated system of higher education. Since then, institutions of higher education have been confronted with unexpected and far-reaching demands and challenges. One of these challenges is the transformation and restructuring of the higher education landscape in South Africa. In December 2002, the Ministry of Education released its proposals, which were approved by cabinet, for the transformation and restructuring of the higher education system. Evening out the differences between the historically white and historically black institutions was the central motivation behind the South African government’s restructuring plan for higher education. The restructuring and consolidation of the institutional landscape is a key element in the broader strategy for achieving the broader goals and objectives, namely, to ensure an equitable, sustainable and productive higher education system that will be of high quality and contribute effectively to the human resources, skills, knowledge and research needs of the country and which is consistent with non-sexist, non-racial and democratic values assigned in the constitution (Ministry of Education, 2003:3). The National Working Group recommended that in particular circumstances and conditions, comprehensive institutions that offered a combination of technikon and university-type programmes could be established to facilitate the effective and efficient provision of higher education. The Ministry of Education accepted the proposal to establish this new institutional type and the merger between RAU and TWR was set for 1 January 2005. Implementing the restructuring proposals was complex, time-consuming and placed an enormous burden of additional work on the affected institutions. Merger activities cause change, and change creates stress. It is very difficult to implement organisational change successfully, because employees frequently resist organisational change. Effective change management and visionary leadership are therefore essential for current and future managers to satisfactorily implement organisational change. The scope of this study is to provide insight and understanding of the perceptions, fears and uncertainties that existed amongst staff members of the former TWR during the pre-merger phase with RAU and the function of management during the process of transformation. A literature review conducted emphasised the importance of change management prior to and during a merger. Focus was placed on the reasons and readiness for change in higher education; change leadership; communication; stressors in the change process and prerequisites for a successful transition. Based on the results of this review, different stressors were identified, which normally accompany a merger. Questionnaires were used to obtain primary data from a sample of TWR staff in order to ascertain their perceptions, fears, uncertainties and stressors with regard to the merger. The most conclusive finding was that staff members experienced a certain amount of uncertainty prior to the merger. They felt that they could not create their own destiny in the merger process, nor could they plan for the future. Some staff members felt inferior to their merging partners and assumed that the dominant institution’s employees would fill most of the positions. A majority of the respondents felt that they needed more opportunities to be trained and that management should support them in the training. Communication during the merger was important and the respondents wanted more merger information on a continuous basis. A sizable majority of respondents indicated a strong need for emotional support from management during the merger. Mergers are extremely complex and influence every level of operation and all functions of the institutions to be merged. Strong leadership is needed to combine the traditions of academic freedom and collective decision-making.Dr. M. Gous
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Psychogios, Theodoros John. "The role of free cash flow and financial slack in takeovers : the Australian experience (1988-1997)." Master's thesis, 2001. http://hdl.handle.net/1885/147708.
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Powichit, Nattanan. "Corporate restructuring through corporate selloffs, spinoffs, and management buyouts in Australia." Master's thesis, 2003. http://hdl.handle.net/1885/151271.
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