Mergers and acquisitions (M & A) is a popular strategy used by the firm for many years, but the success of this strategy has been limited. In fact, several surveys have shown that, on average, firms create little or no value through acquisitions. While a considerable amount of research on mergers and acquisitions, seems to be little consensus on the causes of the results achieved by them. In this case, we begin with a review of some of the extant research on mergers and acquisitions and the identification of key variables on which the study focused. We then summarize some major work on the main reason for refusal - to pay too high a premium - and discuss why managers often hold too long divestiture inefficient enterprises, which were acquired. In addition, we consider the study indicate the importance of the acquisition capability based on organizational learning and the acquisition of additional science and technologies of strategic renewal. Finally, we conclude the discussion of research on cross-border mergers and acquisitions that have become prominent in recent years. "Hide
by Michael Hitt, David King, Hema Krishnan, Marianna Makri, Mario Schijven, Katsuhiko Shimizu Source: Business Horizons 7 pages. Publication Date: November 15, 2009. Prod. #: BH353-PDF-ENG
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