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The Antecedents and Consequences of Resistance to Take-overs

In: The Management of Corporate Acquisitions

Author

Listed:
  • Rita D. Kosnik
  • Thomas A. Turk

Abstract

In the 1980s, corporate America underwent dramatic structural changes as a result of a new merger wave. Throughout the decade, the number of mergers and acquisitions, and their dollar value, hit record highs. For instance, in the 1985–6 period, over 3000 transactions a year were recorded which, combined, accounted for over $120 billion. Throughout the decade, more than $1.3 trillion was spent on merger and take-over transactions (Business Week 1990). Compared with previous merger waves, the recent merger wave stands out because of three new developments: the size of the merger deals, the controversies created by hostile take-overs, and the proliferation of resistance tactics by the management of target firms.

Suggested Citation

  • Rita D. Kosnik & Thomas A. Turk, 1994. "The Antecedents and Consequences of Resistance to Take-overs," Palgrave Macmillan Books, in: Georg Krogh & Alessandro Sinatra & Harbir Singh (ed.), The Management of Corporate Acquisitions, chapter 8, pages 170-190, Palgrave Macmillan.
  • Handle: RePEc:pal:palchp:978-1-349-13016-0_8
    DOI: 10.1007/978-1-349-13016-0_8
    as

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