The aim of this paper is to provide new insights into the pre-merger phase M&A. It examines capabilities serial acquirers, that is, expertise and routines. This done by conducting a study two successful acquirers. identifies describes what elements routines consist how they are related, explaining both needed for phase. Moreover, it consolidates present knowledge on in adds empirical theoretica...

Acquirers who buy small technology-based firms for their technological capabilities often discover that postmerger integration can destroy the very innovative capabilities that made the acquired organization attractive in the first place. Viewing structural integration as a mechanism to achieve coordination between acquirer and target organizations helps explain why structural integration may b...

We investigate acquirer returns using a comprehensive sample of government asset sale announcements in 123 countries around the world in 1984-2009. Overall, we find positive abnormal returns to acquirers of state-owned assets. Returns are greater when the acquirer is domestic, when the sale occurs in a developing nation, and when the acquirer itself is not a former stateowned enterprise. Buyers...