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Mergers: Theory and Evidence

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Mergers, Markets and Public Policy

Part of the book series: Studies in Industrial Organization ((SIOR,volume 21))

Abstract

The merger of two large corporations or a hostile take-overs of one by another are without question the most dramatic events to transpire on the industrial landscape, and have been so for a century. When the leading cigarette manufacturer, Philip Morris, acquires giants from the food industry like Kraft and General Foods it is front page news, just as the assemblage of cigarette companies by James B. Duke was a century ago. Although the introduction of innovations like the transistor, xerography, and the disposable diaper have arguably had a much greater impact on social welfare than any three mergers or take-overs, the latter grab the headlines and it would seem an increasing fraction of the time and energy of those attracted into business.

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  1. Dennis C. Mueller
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  1. Furio Cicogna, Center for Entrepreneurial Studies, Bocconi University, Via Sarfatti 25, Milan, 20136, Italy

    Giuliano Mussati

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Mueller, D.C. (1995). Mergers: Theory and Evidence. In: Mussati, G. (eds) Mergers, Markets and Public Policy. Studies in Industrial Organization, vol 21. Springer, Dordrecht. https://doi.org/10.1007/978-94-011-0387-9_2

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  • DOI: https://doi.org/10.1007/978-94-011-0387-9_2

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