Introduction
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Part II views mergers and acquisitions not as business strategies but rather as a means of implementing business strategies. Business strategies define a firm's vision and long-term objectives and how it expects to achieve these ends. M&As simply represent one means of implementing the business strategy. The firm may choose from a range of reasonable alternative implementation strategies, including “going it alone” or partnering, or by acquiring another firm.
Chapters 4 through 6 discuss the various activities often undertaken in a merger or acquisition. These activities comprise the ten phases of ...
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