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The Acquisition Integration Process: A Contingent Framework

In: The Management of Corporate Acquisitions

Author

Listed:
  • Philippe C. Haspeslagh
  • Alison Been Farquhar

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.

Suggested Citation

  • Philippe C. Haspeslagh & Alison Been Farquhar, 1994. "The Acquisition Integration Process: A Contingent Framework," Palgrave Macmillan Books, in: Georg Krogh & Alessandro Sinatra & Harbir Singh (ed.), The Management of Corporate Acquisitions, chapter 16, pages 414-447, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-13016-0_16
    DOI: 10.1007/978-1-349-13016-0_16
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    Cited by:

    1. Maurizio Zollo, 1998. "Strategies or Routines ? Knowledge Codification, Path-Dependence and the Evolution of Post-Acquisition Integration Practices in the U.S. Banking Industry," Center for Financial Institutions Working Papers 97-10, Wharton School Center for Financial Institutions, University of Pennsylvania.
    2. David P. Kroon & Niels G. Noorderhaven & Kevin G. Corley & Eero Vaara, 2022. "Hard and Soft Integration: Towards a Dynamic Model of Post‐Acquisition Integration," Journal of Management Studies, Wiley Blackwell, vol. 59(5), pages 1132-1161, July.

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