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Why History Repeats Itself: Acquisition Trends, Successes and Failures

In: Acquisition

Author

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  • Nancy Hubbard

Abstract

The current acquisition climate means that history is being rewritten daily with the announcement of each new ‘mega-merger’, but this is only history repeating itself: in the past, companies have consolidated on national lines; this time it is on a global basis. It will be interesting to see what the success rates will be of these mega-mergers — will they surpass the much touted 50 per cent success rate of the average deal? I think not, for, as we have seen, although there is often a logical strategic fit in these deals, their success relies very heavily on a well-run implementation process and the human resource (HR) function in order to oversee the raft of redundancies, relocations and reprocessing which is inherent to an economies of scale acquisition. Most acquirers do not give this element of the transaction the time or importance it deserves. As will be discussed in this chapter, perhaps this is why poor implementation and HR issues account for such a large percentage of acquisition failures. First, let us look at the history of acquisition trends.

Suggested Citation

  • Nancy Hubbard, 1999. "Why History Repeats Itself: Acquisition Trends, Successes and Failures," Palgrave Macmillan Books, in: Acquisition, chapter 1, pages 6-17, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-14870-7_2
    DOI: 10.1007/978-1-349-14870-7_2
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    Cited by:

    1. Mathur MAYANK, 2020. "Macroeconomic View of Mergers and Acquisitions in the Technology Industry," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 1, pages 147-155.

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