Mergers and Acquisitions: Issues from the Mid-Century Merger Wave

by Michael Keenan, Lawrence J White

Overview

This is a reprint of a previously published work. It is the product of a conference held in 1981 by the Salomon Center for the Study of Financial Institutions at NYU to explore a wide range of issues concerning mergers and acquisitions.

Product Details

ISBN-13:	9781587981876
Publisher:	Beard Books, Incorporated
Publication date:	01/01/1982
Pages:	368
Product dimensions:	6.04(w) x 9.16(h) x 0.91(d)

Table of Contents

	Preface and Acknowledgments	vii
Chapter 1	Introduction	1
Part I	Some Issues in Merger Theory	7
Chapter 2	Mergers, Debt Capacity, and the Valuation of Corporate Loans	9
Chapter 3	Valuation Problems in Service-Sector Mergers	29
Chapter 4	Effects of Mergers on Information Production and Dissemination	41
Part II	Social and Legal Issues	65
Chapter 5	The Social and Political Consequences of Conglomerate Mergers	67
Chapter 6	Mergers and Aggregate Concentration	97
Chapter 7	Chiarella and Rule 14e-3: Theory and Practice	113
Chapter 8	Do We Want a New, Tough Antimerger Law?	169
	Comment	191
	Comment	197
Part III	Empirical Studies of the Determinants of Mergers	203
Chapter 9	Financial Motives in Conglomerate Mergers: An Empirical Test	205
Chapter 10	Financial Characteristics of Acquired Firms	223
Chapter 11	The Role of Employment and Capital Expenditure in the Merger and Acquisition Process	243
Chapter 12	Interfirm Tender Offers and the Market for Corporate Control	267
	Comment	301
	Panel Discussion	305
Part IV	Strategic Planning and Mergers	313
Chapter 13	Diversification and Mergers in a Strategic Long-Range-Planning Framework	315
Chapter 14	Implementation of the Mergers and Acquisitions Program at United Technologies Corporation	347
	List of Conference Participants and Contributors	357
	About the Editors	359