Takeovers, Restructuring, and Corporate Governance

by Juan A. Siu, J. Fred Weston, Brian A. Johnson, et al.

Book Overview

For undergraduate/graduate-level courses on Mergers and Acquisitions, or as a supplement for Business or Corporate Finance, Economics, or Strategy. This book brings together conceptual and updated... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 0131407376
• ISBN13: 9780131407374
• Release Date: August 2003
• Publisher: Pearson
• Length: 720 Pages
• Weight: 3.05 lbs.
• Dimensions: 1.7" x 7.8" x 9.4"

Customer Reviews

Solid text to introduce this topic - readable and helpful

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.

Good literature overview

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.

GOOD Overview!!!

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!!

Solid Foundation

With over 500 books about mergers out there, why read this one? Because more than any other M & A book in print today (and there are many excellent ones) it provides the most solid foundation for M & A understanding. The primary author, J. Fred Weston, has conducted extensive empirical research in the merger field, and this book shows it. (And yes, he is the J. Fred Weston you know from your finance studies - he's a guru in the field.) "Takeovers" explains not only how the M & A process works, but why it has been a positive force for individual companies and for the economy as a whole. Beginning with the takeover process, Weston, Chung, and Siu explain the legal, regulatory, and accounting framework for mergers, moving on to a review of research and a strategic perspective on valuation. Extensive discussion of restructuring, strategic planning, and corporate governance follow. The last section presents case studies of successful M & A. Written throughout in clear English, but never "dumbing down" (financial formulas and research endnotes are included), this tome (504 pages) will appeal to anyone who seeks a broader and deeper understanding of the M & A phenonenon. Most books about M & A are either how-to manuals or policy essays. This book combines both traits in a uniquely valuable package.