Rating: Summary: I expected more Review: Considering the reputation of the primary author, I found the book to be ponderous to read and seemingly focused more on what the authors wanted to discuss than what might be really useful to students and those practicing M&A. The authors should have sought a more appropriate balance between theory and practice. This tome is weighted in favor of theory. It seems to spend more time addressing societal issues and issues of government policy than addressing the mechanics of how to plan for and implement transactions. In fact, only the last few pages of the book deal superficially with an approach to doing M&A.The book also assumes substantial knowledge of accounting, finance and economics on the part of the reader. The dearth of examples also hinders the readers ability to readily understand how to apply complex concepts explained in torturous paragraphs of prose. It would have been helpful to use more illustrations to communicate concepts that are difficult for those of us that don't have Phds to understand. Thankfully, there are other books that are far more helpful in explaining both theory and application of M&A. I have found Mckinsey's book on Measuring and Managing Valuation to be a much better guide to understanding how to apply complex valuation techniques. Integration methodology is well explained in Marks and Clemente's Winning at Mergers. For an excellent detailed overview of M&A, see Depamphlis Mergers Acquisitions and Other Restructuring or Weston's other, more recent book on M&A.
Rating: Summary: Good literature overview Review: Most sections have a good overview, although debt restructuring is handled better. Some sections like recap's , LBO's and share repurchases are well written. The book will become more relevant as HLT's emerge once again. Haven't seen a better book on restructuring and reorganizations. Having said that, i'd like to see a new edition soon. A caveat; this is not a text. It assumes a level of competence on the subject and is an extremely good reference.
Rating: Summary: Written by academics for academics!!! Review: On balance, this book provides a good overview of the subject and of recent academic studies. However, it is often theoretical and "ivory-towerish." There is relatively little that really instructs the reader about transactions are actually done. A great deal of time is devoted to discussing why they occur, but little practical insight is provided as to the challenges and issues that must be resolved. This book may be suitable for someone who is curious and interested in reading about M&A but provides little guidance for those interested in learning how to undertake transactions.
Rating: Summary: Written by academics for academics!!! Review: On balance, this book provides a good overview of the subject and of recent academic studies. However, it is often theoretical and "ivory-towerish." There is relatively little that really instructs the reader about transactions are actually done. A great deal of time is devoted to discussing why they occur, but little practical insight is provided as to the challenges and issues that must be resolved. This book may be suitable for someone who is curious and interested in reading about M&A but provides little guidance for those interested in learning how to undertake transactions.
Rating: Summary: Largely Disappointing Review: The book is really only useful for those interested in a literature survey, discussion of public policy, and somewhat tedious discussion of theoretical concepts.
Rating: Summary: A waste of time Review: The first part of this 1997 edition covers material that is an "old hat". The rest of the topics are unnecessary, badly explained, too superficial, or unfocused. Don't waste your money, and your time!
Rating: Summary: Solid text to introduce this topic - readable and helpful Review: The fourth edition came out in 2003 and I am not familiar with earlier editions. In my view, this is a very good text. In its nearly 700 pages, it provides a solid and comprehensive overview of this interesting and important topic. Obviously, no textbook can be both a survey of the topic and provide complete coverage of every topic. This book goes deep enough that students being introduced to this topic will find plenty to work on and get enough information to develop a feel for all that is involved in changing corporate control and ownership structure for any number of reasons.
The book has 22 chapters in six parts. The six parts are:
1)Takeovers and Mergers in Practice
2)M&As - Theories and Empirical Tests
3)Valuation - The Strategic Perspective
4)Restructuring
5)M&A Strategies
6)Strategies for Creating Value
There are many end of chapter questions and dozens of mini-cases in the book. Plus, there are online resources for students available.
The book provides references at the end of each chapter for more in depth study, a glossary at the end, and an index.
This is a solid text that can also be read by the general reader interested in this topic.
Rating: Summary: Interesting Subject... Boring Book Review: The subject of this book is quite interesting and the knowledgable authors add many insights into the field of Mergers and Aquisitions. However, the book is poorly written and designed. Simply opening the book will show colorless pages and bland figures that perfectly reflect the tone and content within. There is also a surprising number of spelling mistakes and grammatical errors (something I should not expect if I'm paying over $100 for a book).
Rating: Summary: Non clear examples Review: This is a very good book if you like only theory. However the book need a lot of more examples, with numbers, in order to use this book in a practical way. Also it need a chapter about regulations in other countries and not having a US's only focus in the remaining chapters. In present days M&A are very very internationals.
Rating: Summary: GOOD Overview!!! Review: This textbook by Weston et al. provides an excellent overview of the various forms of M&A. However, having bought the previous edition, I was a bit disppointed with the extent of the revisions. For instance: in the chapter International M&A, which have undergone dramatic changes in the 8 years between the two editions, hardly any alterations have been made. This criticism also applies to a few other chapters. In summary though, had this book been updated in more detail, I would have given it five stars without hesitation!!
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