CHAPTER 13

Alternatives to Mergers and Acquisitions

You will recall that in Chapter 1 we established that mergers and acquisitions, at least from the buyer’s perspective, were an inorganic growth strategy. The buyer’s acquisition plan identifies one or more transactions that will enhance its market share, create economies of scale, penetrate new geographic and categorical markets, and provide a basis for raising additional capital. Hopefully, at this point, you feel comfortable with the logistics, challenges, and mechanics of this strategy as well as the legal, financial, and strategic aspects of mergers and acquisitions.

However, there is a wide variety of alternative strategies that focus on the building of external relationships that achieve ...

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