Содержание
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Mergers and Acquisitions
Moscow State University Higher School of Business November 2013 Gerald J Rohan
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Exhibit 7.2 Strategic directions (Ansoff matrix) Source: Adapted from H. Ansoff, Corporate Strategy, Penguin, 1988, Chapter 6. (The Ansoff matrix was later developed – see reference 1.)
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Rationale
Market Stagnation Exit Strategy Concentration Family Business retires Eliminate Competitors Synergy Dynamics New Business Model Open new markets Creation of value
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Before Transaction
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After Transaction
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Mergers & Acquisitions
Successful Disney and Pixner Sirius and XM Radio Exxon and Mobil Disasters PRR and NYC Daimler and Chrysler Mattel and The Learning Company
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Perhaps the worst
AOL Time Warner America On Line New Economy Time Warner Old Economy
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Happy Days?
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Steven Chase – Gerald Levin $350 Billion Merger Worth around $50 today What went wrong?
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