A Deal Too Far - the Case of the Killer Acquisition

Abstract

Mergers and acquisitions have long been, and seem likely to remain, objects of fascination within the world of finance. While scholars puzzle over the theoretical motivations and value impacts of such transactions, practitioners devote their efforts to fueling what has become a burgeoning juggernaut.1 The result of these twin streams of effort has been the creation of an unresolved, though clearly important, paradox.