Pre-merger acquisition capabilities: A study of two successful serial acquirers

Michael Grant, Fredrik Nilsson and Anna-Carin Nordvall

European Management Journal, 2022, vol. 40, issue 6, 932-942

Abstract: The aim of this paper is to provide new insights into the pre-merger phase of M&A. It examines capabilities of serial acquirers, that is, expertise and routines. This is done by conducting a study of two successful serial acquirers. The study identifies and describes what elements expertise and routines consist of and how they are related, explaining how both are needed for a successful pre-merger phase. Moreover, it consolidates present knowledge on expertise and routines in the pre-merger phase and adds new empirical and theoretical insights. The result is the pre-merger capability typology showing in a fine-grained manner which capabilities and elements are important. Arguably, the study provides a holistic view of acquisition capabilities of successful serial acquirers in the pre-merger phase.

Keywords: Acquisition; Acquisition-making; Capabilities; Expertise; Identification phase; Pre-merger phase; Routines; Serial acquirer (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:eurman:v:40:y:2022:i:6:p:932-942

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DOI: 10.1016/j.emj.2022.10.006

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