So far, the overall performance track record for corporate mergers and acquisitions has not been very encouraging. Both the academic and trade literature report that on average the gains to stockholders of acquiring companies tend to be small or non‐ existent.
Aggarwal, R., Edward, J., Mellen, L.E. and Navratil, F.J. (1991), "Planning a Successful Acquisitions Strategy: Some Guidelines", Managerial Finance, Vol. 17 No. 1, pp. 14-18. https://doi.org/10.1108/eb013662
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