We analyze how the presence of trade unions affects the pattern of mergers in an international oligopoly and the welfare implications thereof. We find that wages for the merger participants are always lower when they merge internationally, rather than nationally. Using a model of endogenous merger formation, we find that the firms will merge internationally in equilibrium. There are more intern...

Galactic spheroids can form as a result of galaxy interactions and mergers of disks. Detailed analyses of the photometric properties, the intrinsic orbital structure, the line-of-sight velocity distributions and the kinemetry of simulated merger remnants, which depend critically on the geometry and the gas content of the interacting progenitors, indicate that low and intermediate mass rotating ...

This paper studies the announcement returns to diversifying mergers from 1950 to 2002. It is widely believed that corporate diversification destroys value, but we find that combined (bidder + target) announcement returns were significantly positive for diversifying mergers throughout the period. The return from diversifying mergers fell after the 1970s, consistent with the view that investors s...

Merger and Acquisition fever continues. Whereas the M & A boom of the 1980s was driven largely by financial considerations, resulting in many leveraged buyouts and hostile takeovers, more of today’s mergers and acquisitions are friendly and are motivated by strategic profit goals. Reflecting this transition, marketing synergy has become a more relevant factor in determining the ultimate success...

Why do some clusters have cool cores while others do not? In this paper, cosmological simulations, including radiative cooling and heating, are used to examine the formation and evolution of cool core (CC) and non-cool core (NCC) clusters. Numerical CC clusters at z = 0 accreted mass more slowly over time and grew enhanced cool cores via hierarchical mergers; when late major mergers occurred, t...

We examine the incentives for non-consolidating mergers in commercial media industries. In a model with differentiated media and products, it is shown that such a merger can be profitable since it gives merging media firms a bargaining advantage vis-àvis advertisers in the negotiations for advertising space. The extent to which this bargaining advantage yields profitable conditions for a merger...

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Mergers occur when two or more organisations (or institutions) combine either to create one new organisation, or retaining the identity of one of the original organisations. Mergers continue to be relatively common in the corporate sector. In higher/further education (H/FE) in the UK there have been two key periods of intense merger activity in recent years the late 1980s to early 1990s and the...

We use semi-analytical modelling techniques to investigate the progenitor morphologies of present day ellipticals. We find that, independent of the environment , the fraction of mergers of bulge dominated galaxies (early-types) increases with time. The last major merger of bright present day ellipticals with M B −21 is preferentially between bulge dominated galaxies, while those with M B ∼ −20 ...

In the changing economic scenario, mergers and acquisitions are likely to emerge as an important strategy In the Indian corporate sector. Understanding the process of merger/acquisition therefore becomes important to ensure success of the strategy. This paper highlights the. managerial tasks involved for achieving higher levels of integration, which help In realising the unique managerial chall...