The Acquisition Integration Process: A Contingent Framework

Philippe C. Haspeslagh and Alison Been Farquhar

Chapter 16 in The Management of Corporate Acquisitions, 1994, pp 414-447 from Palgrave Macmillan

Abstract: Abstract This chapter reports the findings of a study into how acquisitions create value. It draws a distinction between acquisitions primarily driven by value transfer considerations, such as the purchase of undervalued assets or tax benefits, and acquisitions motivated by value creation. Only the latter are examined. Value creation is seen to result from the successful transfer of strategic capabilities (Lenz 1980) between both firms, where the purpose is to augment the competitive advantage of one or both firms (Jemison 1986a and b). The study also distinguishes between corporate and business-level acquisitions, and focuses on the latter. Although the initiation of this type of acquisition may originate at the corporate level, the intent is to contribute to a business-level development strategy.

Keywords: Harvard Business Review; Strategic Management Journal; Interface Management; Contingent View; Acquisition Type (search for similar items in EconPapers)
Date: 1994
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-13016-0_16

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DOI: 10.1007/978-1-349-13016-0_16

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