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European Mergers and Merger Policy (Paperback, Revised)
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European Mergers and Merger Policy (Paperback, Revised)
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Europe stands at the start of its first great merger wave. Growing
international trade, accelerated by the `Single Market' programme,
has seen a sharp increase in mergers across national borders
between European-based firms. During the 1990s, this increase in
European mergers will almost certainly continue. As it does, it is
sure to raise important questions for industrial policy-makers and
business strategies. Should, for instance, leading national firms
merge to form `European champions'? When does merger make good
business sense, and with which firms? Are hostile takeovers a sound
method for ensuring top management accountability; or are
alternative ownership controls preferable? What are the proper
grounds for politicians to prevent a merger, and which politicians?
This book addresses these questions, bringing together a number of
leading economists and authoritative commentators on mergers and
merger policy. The book itself is a `European' edition of Mergers
and Merger Policy edited by James A. Fairburn and John Kay (OUP,
1989). Two chapters (on market structure and performance; and on
the evolution of merger policy in Britain) from that book are
included here without alteration. Other chapters have been updated
and to these have been added entirely new chapters on the European
dimension of merger activity, regulation and the European
community, and on the options open to European companies.
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