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The analysis of the integration strategies in M&A processes and the role of the cultural differences: the case of two financial companies
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Resumo(s)
The post-acquisition integration process is now extensively acknowledged by the M&A literature as an important source of value creation. To moderate the dilemma between high integration level and loss of autonomy, few researchers have come up with explanatory frameworks. In this study, we first give empirical support to the framework of Angwin and Meadows (2014) by analysing the integration approach adopted in the merger of two financial companies. These results using a single-case study research methodology suggest a more robust, fine-grained post-acquisition integration framework and allow managers to broaden the possibilities to find an adequate integration strategy. Secondly, we use the framework of Weber et al. (2009) to analyse the linkages between integration strategies and the management of cultural differences. These results did not allow to give empirical support to the framework of Weber et al. (2009). However, it underlines key limitations and suggests propositions for further research.
Descrição
A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics
Palavras-chave
Merger Acquisition Integration strategies National and corporate culture