Case Discussions of Mergers and Acquisitions
This chapter pertains to an in-depth case analysis of Hindalco–Novelis and HP–Compaq M&A. It details almost all the relevant aspects of the case ending with discussions on the performance post-merger and how the deal has found to be creating/destroying value. The acquisition of Novelis by Hindalco resulted in emergence of Hindalco as a completely integrated manufacturer of aluminum. The acquisition was a strategic fit and a win-win for both the combining players. The HP–Compaq case highlights the reasons of failure of deal which initially was thought to be a great deal. The expected synergies could not be realized due to poor post-merger integration caused by cultural difference and leadership issues.