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Description
The Synergy TrapWith acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research
With acquisition activity running into the trillions of dollars, the acquisition alternative continues to be the favorite corporate growth strategy of this generation's executives. Unfortunately, creating shareholder value remains the most elusive outcome of these corporate strategies. After decades of research and billions of dollars paid in advisory fees, why do these major decisions continue to destroy value? Building on his groundbreaking research first cited in Business Week, Mark L. Sirower explains how companies often pay too much -- and predictably never realize the promises of increased performance and competitiveness -- in their quest to acquire other companies. Armed with extensive evidence, Sirower destroys the popular notion that the acquisition premium represents potential value. He provides the first formal and functional definition for synergy -- the specific increases in performance beyond those already expected for companies to achieve independently. Sirower's refreshing nuts-and-bolts analysis of the fundamentals behind acquisition performance cuts sharply through the existing folklore surrounding failed acquisitions, such as lack of "strategic fit" or corporate culture problems, and gives managers the tools to avoid predictable losses in acquisition decisions. Using several detailed examples of recent major acquisitions and through his masterful integration and extension of techniques from finance and business strategy, Sirower reveals:- The unique business gamble that acquisitions represent
- The managerial challenges already embedded in current stock prices
- The competitive conditions that must be met and the organizational cornerstones that must be in place for any possibility of synergy
- The precise Required Performance Improvements (RPIs) implicitly embedded in acquisition premiums and the reasons why these RPIs normally dwarf realistic performance gains
- The seductiveness and danger of sophisticated valuation models so often used by advisers
Binding Type: Paperback
Publisher: Free Press
Published: 10/26/2007
ISBN: 9781416584650
Pages: 304
Weight: 1.00lbs
Size: 9.02h x 5.98w x 0.69d
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★★★★★ 5
Producto estupendo
Sun protection factor: 50 Sun Protection Factor (SPF), Size: 7 Fl Oz (Pack of 2)
Excelente calidad, producto especial para la protección solar a muy buen precio.
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Reviewed in the United States on May 31, 2026
★★★★★ 5
block sun
Sun protection factor: 50 Sun Protection Factor (SPF), Size: 7 Fl Oz (Pack of 2)
great
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Reviewed in the United States on June 8, 2026
★★★★★ 5
Great sunscreen!
Size: 6.7 Fl Oz (Pack of 1)
We have used this sunscreen lotion on multiple beach vacations, and most recently on our cruise. The quality, coverage and protection are great. The lotion glides on smoothly and is not sticky. It has a light fresh scent that did not irritate the members of the family with sensitive skin. This is one of our favorite lotions to use, and we keep repurchasing it. The price point is great as well.
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Reviewed in the United States on April 18, 2026
★★★★★ 5
Good Size..easy to pack
Size: 6.7 Fl Oz (Pack of 1)
Great travel size, I always pack two. Goes on easy, and it works. SPF50 is perfect for me, and a may get a little tan, butit does work. Just don't get it in your eyes..
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Reviewed in the United States on June 2, 2026
★★★★★ 5
Best sunscreen
Size: 6.7 Fl Oz (Pack of 1)
My favorite sunscreen!! It works great & doesn’t feel greasy!
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Reviewed in the United States on June 5, 2026