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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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- Holtström, Johan, 1968-, et al.
(författare)
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M&A Effects on Procurement
- 2004
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Ingår i: Annual IPSERA Conference,2004.
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Konferensbidrag (övrigt vetenskapligt/konstnärligt)
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- Öberg, Christina, 1970-
(författare)
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On customers in mergers and acquisitions
- 2004
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Licentiatavhandling (övrigt vetenskapligt/konstnärligt)abstract
- This thesis focuses on how customers are perceived in mergers and acquisitions. Mergers and acquisitions (M&As) are frequent, yet complex, phenomena in business life. One dimension making M&As complex is that they can affect (the merging companies' relationships to) other companies. With an M&A being a potential source of, for example, customer losses, one must ask how, and indeed whether, customers are taken into account in the M&A process, and what are the merging parties' notions concerning customers in relation to an M&A.This thesis takes a triangulation approach to the subject, including a literature and press release review and two case studies. The following is concluded: Customers are seldom focused on in the M&A literature, though they are commonly referred to indirectly, in an unproblematised way. By not considering customers as part of an M&A, the literature is neglecting an important aspect - one that has been emphatically recognised in business experience. In actual M&A practice, customers figure prominently in the underlying motives of M&As, and also when determining the degree of integration. Notions concerning customers are malleable, shifting during the course of tl1e M&A process, and also differ between the official view articulated in press releases, and in intra-company discussions regarding reasons for merging or acquiring. The official discourse commonly refers to customers indirectly and as targets, whereas they are treated as actors in intra-company discussions. Once M&A intentions are realised, the focus shifts from creating value to keeping value, and at this stage, customer considerations constrain the degree of integration. While there is no clear-cutline between the integration itself and a possible post-M&A phase, when evaluating an M&A the evaluation tools correspond to how customers are defined in official M&A motives.
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