Creating value through merger and acquisition integration

Successfully integrating mergers and acquisitions (MA Hubbard, 1999; Galpin & Herndon, 2000; Habeck, Kroger & Tram, 2000; Marks & Mirvis, 1998; Feldman & Spratt, 1999; Schweiger, 2002; Haspeslagh & Jemison, 1991; Schweiger & Goulet, 2000; Hitt, Harrison & Ireland, 2001). Almost everyone writing on this topic acknowledges that integration is a critical part of M&A value creation. In spite of these acknowledgements, the literature has not directly demonstrated a clear linkage between value creation and the integration process. It is the primary purpose of this chapter to do so.

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