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- Anderson, Helén, et al.
(författare)
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Are Mergers or Acquisitions expected to affect customer and supplier relationships? : An Analysis of Decisions Taken by a Competition Authority
- 2003
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Konferensbidrag (refereegranskat)abstract
- Studies concerning corporate mergers and acquisitions are mainly focused on the merging companies. Recently though, there has been an increased interest concerning connected companies, e.g. those firms having customer, supplier or other business relationships with participants in a merger or acquisition. In many countries, there is a legal prerequisite to report intended business concentration to the national competition authority for investigation. This paper investigates decisions made by a competition authority and in addition looks at studies where connected companies are mentioned by the authorities in such decisions. In very few of the investigated decisions, 2.4%, is a third party identified. Our conclusion is that customers and suppliers, if at all effected, are seen as reactive rather than active partners in a concentration. And, the concept supplier or customer relationship is not used.
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- Anderson, Helén, et al.
(författare)
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Do Competition Authorities Consider Business Relationships?
- 2012
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Ingår i: Journal of Business-to-Business Marketing. - : Taylor and Francis (Routledge). - 1051-712X .- 1547-0628. ; 19:1, s. 67-92
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Tidskriftsartikel (refereegranskat)abstract
- Purpose: Companies engage in business relationships for a variety of reasons, including specialization, product development, and building competitive networks. Research has demonstrated that mergers and acquisitions (Mandamp;As) may challenge ongoing business relationships. The purpose of this article is to investigate whether and how competition authorities consider business relationships when evaluating Mandamp;As. less thanbrgreater than less thanbrgreater thanMethodology: The article uses the documentation from 450 Mandamp;As reported to the Swedish competition authority to capture the way in which an authority evaluates Mandamp;As. The Swedish competition authority evaluation corresponds to other national and international evaluation procedures. less thanbrgreater than less thanbrgreater thanFindings: The findings indicate that the competition authorities neglect an important aspect of business life, namely companies forming business relationships. The competition authorities evaluate Mandamp;As on the basis of risk for price increases, and consequently disregard such issues as heterogeneity in demand and offerings, and values built into existing business relationships. less thanbrgreater than less thanbrgreater thanOriginality/Value/Contribution: The article contributes to research on business relationships through exploring how a public authority deals with such relationships. It also contributes to research on mergers and acquisitions through examining how these activities are evaluated by competition authorities. Furthermore, the article contributes to competition research by reflecting on competition law concerning Mandamp;A regulations in relation to business relationships.
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- Anderson, Helén, 1954-, et al.
(författare)
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The stake of customers and suppliers in mergers and acquisition
- 2016
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Konferensbidrag (refereegranskat)abstract
- No business day ends without news on a merger or an acquisition and most managers have experience of acquisitions and/or mergers. Mergers and acquisitions (M&A), that is, the acquisition of (the majority of) the shares in a target company or the legal unification of two organizations into one, are recurrent phenomena in business life (Cartwright and Schoenberg, 2006; Meglio and Risberg, 2010) appearing in waves (Martynova and Renneboog 2008; Shleifer and Vishny 1991). M&A not only result in changed shareholder value, but also in changed industry structures, reconsidered competitive landscapes, and form new key players in markets (Chandler, 1962; Cox, 2006; Finkelstein, 1997).Stakeholder research (e.g., Parmar, Freeman, Harrison, Wicks, Prnell and de Colle, 2010; Rowley, 1997) emphasizes the multi-actor, multi-interest perspective to strategic decisions. A value chain perspective on firms suggests customers and suppliers as important stakeholders of firms (e. g., Normann and Ramirez, 1993) and indicates that customers and suppliers may actually act vis-à-vis an M&A. But the picture of customers and suppliers as tradable assets or potential beneficiaries from the acquirer’s point of view seems to dominate. In this paper we particularly address the stake at stake for customers and suppliers in M&A. The following questions are asked: To what extent are customers and suppliers acknowledged in the M&A literature? How are customer and supplier stakes in M&A described?
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