Mega-mergers: the aftermath of the Stock Market battle

• Claude BÉBÉAR
  President Supervisory board Axa
  
• David BOUCHOUCHA
  Engineer, Ecole des Mines
  
• Guy CHASSANG
  Senior partner, Accenture
  

Summary

Mega-mergers are on the increase and receive wide publicity, although half of them come to nothing ! The management methods of creating mega-mergers are well known but David Bouchoucha shows us how these erudite methods can fail in real-life. His investigation also reveals that mergers between equals in different confrontations consume much energy. On the other hand, when a victor emerges, integration seems more efficient providing that the victor behaves with magnanimity. Guy Chassang and Claude Bébéar, both familiar with mergers, complete the analysis of factors leading to successful mergers, by stressing, in particular, the preparation and negotiations necessary before the operation.

Summary translated from French by Rachel MARLIN.

• The entire article was written by Sylvie CHEVRIER and translated by Rachel MARLIN.

To obtain this article, you can :

• download it for free in French (PDF help) or contact ecopar@paris.ensmp.fr (Reference IN300101).
• download it for free in English (PDF help) or contact ecopar@paris.ensmp.fr (Reference IN300101-ENG).

The entire article appears in French in the Journal de l'École de Paris du management N° 31.