Robert F. Bruner is the Dean of the Darden Graduate School of Business Administration and Charles C. Abbott Professor of Business Administration at the University of Virginia. He is the author or coauthor of more than 400 case studies and notes, as well as the author of two other Wiley titles, Applied Mergers and Acquisitions and The Panic of 1907. Bruner has served as a consultant to over twenty corporations and the U.S. government, and prior to his academic career worked as a commercial banker and venture capitalist. He holds a BA from Yale University, and an MBA and DBA from Harvard University.
by Arthur Levitt, Jr.
I. The Foundations of M&A Failure.
2. Where M&A Pays and Where It Strays:A Survey of Research.
3. Profiling the Outlying M&A Deals.
4. Real Disasters and M&A Failure.
II. Case Studies of M&A Failure.
5. February 1968: Merger of the Pennsylvania and New York Central Railroads.
6. December 1986: The Leveraged Buyout of Revco Drug Stores.
7. September 1989: The Acquisition of Columbia Pictures by Sony Corporation.
8. September 1991: The Acquisition of NCR Corporation by AT&T Corporation.
9. December 1993: Renault’s Proposed Merger with Volvo.
10. December 1994: The Acquisition of Snapple by Quaker Oats.
11. May 1999: Mattel’s Acquisition of The Learning Company.
12. January 2001: Merger of AOL and Time Warner.
13. December 2001: Dynegy’s Proposed Merger with Enron.
14. January 2002: Acquisition Program of Tyco International.
III. Avoiding the Deal from Hell.
15. Conclusions and Implications.
16. Memo to the CEO:A Coda on Growth.
About the Author.