6533b852fe1ef96bd12ab3a3
RESEARCH PRODUCT
From “Strategic Fit” to Synergy Evaluation in M&A Deals
A Mocciaro Li DestriPm PiconeA Minàsubject
synergy M&merger; acquisition; synergy; Porter’s value chain; evaluationevaluationA evaluation methodmerger; acquisition; synergy; Porter’s value chain; evaluation;acquisitionsynergySettore SECS-P/08 - Economia e Gestione delle ImpresePorter’s value chainmergerdescription
The aim of this paper is to grasp the processes underlying the genesis and assessment of synergies in M&A deals. We proceed to an in-depth scrutiny of the foundations of synergies using Porter’s model of the value chain. A discernment of the nature of synergies and the mode of their emergence is helpful to clarify to what extent and under which boundary conditions it is appropriate to apply the DCF or the real option techniques for evaluating each type of synergy. Combining both financial tools, the methodology suggested for evaluating the synergies is able to: evaluate projects of M&As, orient the selection of target firms and the definition of the premium of acquisition, and drive the integration processes.
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2012-01-01 |