Creating Value From Mergers And Acquisitions 1st Edition P S Sudarsanam; Dawson Books - Solutions

Does divestiture mean failure of prior acquisitions? Why?
What are the motivations for a corporate sell-off?
What are the different types of refocusing? How do they differ in structure?
What is corporate refocusing?
Under what conditions is a merger preferable to a strategic alliance?
What factors contribute to their success?
What factors cause strategic alliances to fail?
What are the problems in the valuation of JVs?
In what sense is a strategic alliance a real option?
What are the problems associated with a JV?
What is the distinction between a learning alliance and a business alliance?
What are equity and non-equity joint ventures? What is the function of the equity investment?
How do alliances differ?
What is the economic logic of strategic alliances? What is their economic substance?
What factors influence the choice between the two growth pathways?
What were Ford’ arguments for preferring acquisition to alliance?
What were GM’s arguments for preferring alliance to acquisition?
What are the critical success factors in CBAs?
Do you see any special problems in integrating foreign acquired companies?
What are the different types of barriers to CBAs in different countries?
What are market-seeking and resource-seeking CBAs?
What are the components of the eclectic model?
What is the impact of the EMU on CBA?
Are different industries affected differently by CBA? Why?
What are the factors that may account for the trends in cross-border acquisitions in the US and in Europe?
Evaluate the stock market valuation of conglomerates.
Evaluate the evidence that internal capital market is inefficient.
What are impediments to an efficient internal capital market?
What is the internal capital market? How is it different from the external capital market?
What are the arguments against conglomerates?
Why does the pattern of conglomerate diversification differ between countries?
What is the rationale for a firm to follow conglomerate diversification?
What are the implications of conglomerate diversification?
What do you understand by conglomerate acquisition?
What would you have done differently to fix SR’s diversification problems?
Why did SR not realize the expected synergies? Was diversification a strategic blunder or an organizational cock-up?
What resources and capabilities did SR have for a diversification strategy?
What was the diversification imperative for SR?
What are the potential risks to firms contemplating such mergers?
What factors drive industry-blurring mergers?
What is an industry-blurring merger? How does it differ from a traditional vertical merger?
What factors will you consider if your firm is thinking of outsourcing the production of a component currently produced in-house?
What is outsourcing and what factors may have contributed to its recent popularity?
What are the coordination efficiencies of vertical integration compared to those of spot market and long-term purchase contracts?
What are the technical efficiencies of vertical integration compared with those of spot market and long-term purchase contracts?
What are the costs and benefits of long-term contracts compared with spot market purchases?
What is a spot market purchase and what are the sources of technical and coordination efficiencies associated with spot market sourcing?
What are technical and coordination efficiencies?
What are the alternatives to vertical integration?
Define and explain the following terms: vertical chain; vertical integration; upstream and downstream activities.
How can you fix the post-acquisition problems?
Why didn’t the acquisition strategy work?
How does such an acquisition represent vertical integration?
What is the economic and strategic logic of hospitals acquiring primary care practices?
What are the problem areas in carrying out consolidation mergers?
What is an exit strategy?
What are the risks to the investors associated with roll-up IPOs?
What is a roll-up IPO?
What are the different consolidation techniques?
Who are strategic buyers and how do they differ from financial buyers?
Compare and contrast the sources of value in consolidating mergers and large horizontal or related mergers discussed in Chapter 5.
What are the sources of value in consolidating a fragmented industry?
How does acquisition help consolidation of the firms in a fragmented industry?
What is a ‘fragmented industry’? What are the characteristics of such an industry?
Were there any conflicts of interest between KKR and K-III managers? How were these resolved?
What was the role of the private equity firm KKR in the strategy?
What was the acquisition strategy of K-III?
What are the problems associated with such redeployment?
Comment on the empirical studies of resource redeployment.
What kind of real options may be relevant to horizontal mergers?
Do you think firms can achieve unlimited scale and scope economies? Or learning economies? Give reasons.
What are the benefits and problems of brand redeployment in mergers as a source of competitive advantage?
What do you understand by network externality and how is it relevant to a horizontal merger? Think of other mergers driven by NWE.
What are the different sources of value in horizontal mergers?
How does horizontal merger help firms in achieving competitive advantage?
What are the characteristics of mature industries?
What are the characteristics of horizontal mergers?
What types of resource redeployment are possible in a merger of two travel firms?
Can mergers lead to scale, scope and learning economies?
What is the competitive structure of the travel industry?
Comment on the differences in acquisition performance in the US, Europe and the UK?
What is the shareholder value and operating performance of continental European acquirers?
What is the operating performance of US and UK acquirers?
What is the shareholder value performance of US and UK acquisitions in the short and long run?
What is short-run performance? What is long-run performance? Which is the appropriate measure of merger performance? Why?
What is the link between abnormal returns and abnormal operating performance? How is the latter assessed?
Do acquisitions create value for shareholders? What is the evidence from the US?
How is the CAPM used to assess merger performance? What are its limitations?
What is benchmark return and what is abnormal return?
What are the different benchmarks available for making such assessment?
What are the issues in setting up an appropriate benchmark for assessing shareholder value performance of mergers?
What is the rationale for shareholder maximization as a success criterion?
What are the different ways of measuring the success of M & A?
How do organizational structures and processes affect the success of mergers?
Do you agree that a merger represents an organizational change initiative?
What is the relevance of the agency model and managerial perspective to mergers?
What are the characteristics of the agency model of the firm?
What is the link between RBV, value chains and value creation in mergers?
What is the relevance of the resource-based view (RBV) of competition to mergers?
What is the relevance of game theory to mergers and acquisitions?

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Creating Value From Mergers And Acquisitions 1st Edition P S Sudarsanam; Dawson Books - Solutions

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